It's crazy, I just call a contractor I trust and they fix it, and then charge enough rent to make sure it covers anticipated maintenance, and then have a business insurance policy to protect against big disasters.
Wow, I'm a genius!
Wow, I'm a genius!
Depending on the market that may be so easy you'll think everyone else is stupid. Or it may be so hard you wonder if you are doing something wrong.
- you previously spent time building relationships with contractors. You didn’t just type in property management in Google
- a significant overhead goes to insurance and management. Your comfortable putting money as needed into the venture. You have knowledge of legal pitfalls of being a landlord.
- you regularly spend time managing these contracts
I know a number of people who have done very well with RE, but they all actively manage their properties.