[Jeanette]

Getting a house rental for the first time.. any tips? Lessons learned?

Debating on having a property manager or not?

Reading on books but would like input from ppl who are experienced.

I’m about to rent my first property and I’m debating whether to manage it myself or hire a property manager.

What are the pros and cons of each approach?

For those who have rented out a property before, what lessons have you learned that you wish you knew earlier?

Any tips, pitfalls to avoid, or experiences you could share would be really helpful.

Tyia!! I appreciate it!

[Farris]

Manage it yourself, PM companies rip off owners and by no means is this business “passive”. It’s a business.

One house you won’t have to do much at all and it’s a waste of money to hand it off.

I self managed until 300 units then I started added staff.

You can do 1 very very easily.

[Mindi]

Be a DIY landlord for a few years so you learn the processes, then hire a PM if you so desire.

[Scott]

If it’s local. Do it yourself and make sure you are very picky with who you lease to.

If it’s remote, hire a property manager.

If you do it yourself, you need to be a handyman or know one who can respond within 24hrs.

[Josh]

I agree, DIY is the way to go at first if you’re local to the property. I use Rentredi as my software and it works great so far.

Just remember to log your expenses associated with your property for tax deductions in the future.

Also it’s a plus if you have a degree from YouTube university to be handy.

[Aubrae]

4plex house hack in a good neighborhood if possible. Manage yourself for first year at least to build up a decent reserve.

[Bryan]

if you are working a full time job, use a property manager. no question.

there are good ones and bad ones. do your homework.

[Robert]

A good property manager is worth their weight in gold. I live in the same area as my rentals, and I still use a property manager….because she does an excellent job.

[Maranda]

Bigger pockets has good free resources. Follow their FB group and real estate for rookies is also a good one.

I did my research before and used their calculator to run numbers.

You want an 8-12% ROI.

I self manage and have had zero issues.

I just read up a lot on what to include in lease etc.

We also bought new construction in a good area.

[Author]

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