When you own rental properties, it’s no lie…

There’s a lot to take care of.

You need to ask yourself if you want to be the one handling everything or if you’d rather a seasoned property management company or at least an experienced manager take care of things for you.

For me, it’s a no-brainer.

I’m choosing to hire property management every time.

If you look at my real estate investing model, as a long-distance investor it makes zero sense to even think I could manage my properties from afar. If you’ve been reading my blog for a while you know that I live in Barcelona and buy multifamily rental properties in The United States.

I won’t go into the reasons, because I’ve covered the topic pretty well up to this point. If you want to print the reasons out, I created a short downloadable eBook that you can get on my RESOURCES page.

But this article isn’t for me. I’ve made my decision.

This article is to help YOU decide which is better… self-managing or paying for property management. If you want to get to the pros and cons quickly, watch this short video:

 

What are the pros and cons?

A lot of people love to be hands-on in their properties.

It can make sense to manage your own properties. For example, if you have the time and energy to handle tenants, toilets and termites. Plus, there are other good reasons…

  • By self-managing your properties, you get to keep more money every month, because you get to put the money you would normally pay property managers in your own bank account!
  • It makes sense if you are local to your properties and like to maintain a high level of control.
  • Another bonus of managing your own properties is that you become an expert in running your properties. This is a good way to start with your first properties, because then you’ll know what goes into all the different jobs and tasks. That means when it comes time to maybe hire property management no one can pull the wool over your eyes regarding costs and the time it takes to do different tasks.

Hiring a highly qualified property management company or seasoned manager also makes sense. Certainly there are positives and negatives. For example…

  • You can be WAY more efficient in your operations and your time.
  • You won’t have the same level of control as you would if you were to manage things yourself.
  • You get to build a team that takes worries and stresses off your plate, so you can go out into the world and use your time in the highest and best use. You may have heard of the “highest and best use of your time” before. It simply means you are putting your energies and expertise into finding new partners and participants, properties and team members. That way your entire organization can run like a well-oiled machine.

In my video above I give you an example of why you might consider strongly using a property management company. You are the CEO of your company. Your real estate investing efforts aren’t just a hobby, right? It is your business. It is what you do to create streams of income.

Think about it…

What if Steve Jobs hadn’t just been the man behind the creation of a device so many of us use now in our everyday lives? What if he jumped down from the stage and greeted you at the sales desk to handle the sale of the device, too? That wouldn’t go over very well. Frankly, he’d be too busy to take on yet another facet of his company. His role was to be at the top of the company, the face of the company, and the guy to deliver the messages of the company to the people about the new devices.

He’s the head honcho. That’s why there are bunches and bunches of salespeople all over the globe who can walk you through the actual sale. (Think of them as the property managers of Apple.)

Makes sense, right?!

Now that you’ve read the article and watched the video, I have a question for you…

When it comes to property management, which is the right model for you and why?

If you want that eBook I mention in the opening of this article, head over to my RESOURCES page and grab it. I’m adding more of these downloadable gifts to help you move forward in your real estate investing career soon. I may be taking a couple down, so make sure to download them all. Here’s the link:

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You can also check out my latest podcasts and collaborations here keeponcashflow.com/podcasts/