What is your time worth? Believe it or not, We all have choices when it comes to how to spend our time. Investing in rentals is only a passive investment for tax purposes… it can suck your time like a black hole. To make sure you are maximizing your time, you must consider the opportunity cost of choosing one task over another. What else could you be doing that would make more money? You may be spending time fixing a garbage disposal when you could be finding more real estate deals, talking with investors or better yet spending valuable time with family and friends.
Do you find yourself doing tasks that could easily be included in a small monthly management fee? Tasks like putting out signs, talking to prospective tenants, making rentals ready to lease, coordinating repairs, collecting rent and making deposits are time consuming and not the best use of an owner’s time.
Once you find out that these tasks can easily be moved from your “to do” list to mine, it just makes dollars and cents to hire House 2 Rent, the pro in Property Management.