For Those That Invest in Real Estate: Do You Use a Property Manager?

[Parsad]

How many of you with multiple properties utilize a property manager?  Cheers!

[rkbabang]

No. My wife quit working when my son came along 21 years ago, so now that both of our kids are older managing the rental property is her thing.  And I'm pretty handy so we don't hire many contractors either.

 

[Gregmal]

There is almost limitless value in being able to do most of the stuff yourself. A good manager is worth their weight in gold, but 98% of them are worthless and none of them really do anything that requires any high level skills. The good ones are just meticulously organized and prompt. But they basically just relieve you of dealing with nuisance stuff which end of the day isnt that big of a deal anyway. The handyman and contractor stuff is also huge. Between the manager and handyman thats basically your margin if you use any sort of leverage. Which quickly disappears if you're too tight assed or lazy to answer basic tenant inquiries or need to pay someone $150 just to show up because a drain is clogged or dry wall needs to be patched.