Are you just getting started in rental property investment? You might think that having just a few rentals is easily managed on your own. Or maybe because you are starting out you think you can’t afford the 10% monthly management fee. This is the opposite to how you really need to think if you are going to be a serious real estate investor. Your time has a value and it is even higher if you have a full time job, family and do real estate on evenings and weekends.
Instead of tracking down tenants for rent and fixing toilets, maximize your time by searching for deals, negotiating and finding investors. Investing is a business and businesses have costs. Along with taxes and insurance make sure and account for management fees when you are evaluating the purchase of your rental property and make your offers based on those numbers.
If you don’t know how to figure what you should pay for an investment property, give me a call and I will help you run the numbers. I can also provide top notch property management services in Williamson county. Leave the property management to a pro until your real estate business is big enough to hire an in-house property manager.