If you ask people why they invest in real estate, one of the top answers you’ll get is freedom. Contrary to this driving force of wanting more freedom, many investors self-manage and end up instead limiting their own freedom.
In my article Building Your Real Estate Investment Team – Part 7: Selecting a Property Manager, I discussed some of the items a property manager would normally be responsible for. If you self-manage you may find yourself spending a lot of time with tasks such as:
- Showing the property
- Interviewing tenants
- Tenant screening (including credit and background checks)
- Filling out leases
- Collecting rent
- Handling evictions and other tenant issues
- Managing trades for repairs and maintenance
- Coordinating lawn care and snow removal
- Regular property visits
As a landlord, how many of these items take away your free time and limit your freedom? If you self-manage, the answer is probably most or all of these.
Continue reading “Real Estate Investors: How to Buy a Little Freedom” on my blog at BiggerPockets to learn why you should put a price on your freedom and how you can buy a little freedom if that is your goal.
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