I was thinking of self-managing rental properties but everyone keeps saying its a bad idea

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It’s not that hard if you have someone to support you getting the first tenant in. A realtor who is experienced at working with investors can be a huge asset. Otherwise, finding a property manager or fellow investor who lives in the market you’re investing in can help with things like changing the locks, giving a tour to prospective tenants, and otherwise being available for the initial changeover.

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If you have an LLC with family, then I’d definitely hire a property manager. Let them take care of the day-to-day.

I hired a property manager. Mainly because I don’t have the time to drop everything to fix an issue with the tenant and I’m not super familiar with the market it’s in.

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lmao it’s even worse if you outsource it, property management is a dirty industry thank me later. if we was in person I’d tell horror stories but just ask around also. Hint: lotta my prop manager only had 5 stars reviews b/c he sued people who left low reviews, including me.

I know sometimes I don’t trust property management. They overcharge me for things without My consent

I manage my moms little 4plex rentals. Its not hard usually. I utilize turbotenant for credit checks, documents and ads.

We have 11 properties

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Anyone telling you to avoid property management is like saying I had a bad car and you shouldn't buy a car! Just like everything you need to find a good one (dont just read reviews! you need to call them, find their properties and talk to their tenants/property managers etc). Owning rental properties (unless its a full time income) is like easy mode with property management. They deal with all the problems, sure you pay a little more but do you want to manage listing your properties, screening tenants etc? Do you want to coordinate maintenance etc. If your property is newer and low maintenance or if you know your tenants, save the property management $$ otherwise find a good property manager. PS bonus points they send a fully summarized tax statement at the end of the year so I dont have to add up rental income and save receipts.

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