Posted by Jimmy on March 29, 2008 at 05:33:45:
In Reply to: Self managing-out-of-state property? posted by RevInv on March 28, 2008 at 10:38:55:
Austin, huh? I live in Austin, but don't have rentals here. very poor cash flow compared to other parts of state. but since you asked:
1. realtors make the worst managers, IMHO. I have used 4 or 5 of them over the years, and fired them all. I have a talent for finding construction-types, whom I train in the administrative side of the biz. Understand this: these guys do not advertise. they are hard to find. YOU have to search them out. its hard work.
2. go ahead and try to manage your 2 units from afar. so long as you stay small, you may be able to pull it off. but you'll feel the pinch when you have a vacancy and cannot show it to prospective tenants. or when a tenant vacates a unit and leaves it wide open---and your frig and stove disappear, plus the coil in your AC condenser unit. or any of 100 other things that require attention.
3. I am always looking for better, faster, cheaper skilled people. I talk to other owners and managers. I ask about their "aces." and they do the same with me. that's how you find people. by talking to others and getting referrals.
- Re: Tricks of Trade Alex 08:07:46 03/29/08 (3)
- Re: Tricks of Trade Jimmy 09:56:26 03/29/08 (2)
- Re: Tricks of Trade james(CA) 12:23:24 03/31/08 (1)
- Re: Tricks of Trade Jimmy 05:20:24 04/01/08 (0)