Should you be doing your own property management?
It’s one of those evergreen questions, and Steve and I’ve been hearing it pretty regularly over the years. The idea behind it is very appealing… At least in theory.
And the reasoning is simple – If you do the work yourself, you won’t need to hire anyone to do it for you. Your expenses go down significantly each month, and you save quite a few bucks in the process.
Sounds good on paper, but there’s still a lot of stuff hiding underneath the surface…
Can it be done? Sure, you definitely CAN do your own property management. But is it really the right move for your income replacement journey?
In today’s episode, Steve and I will dig deep into the often overlooked aspects of DIY property management.
We’ll take a closer look at the day-to-day responsibilities that come with the role, lay out the advantages and the disadvantages, and hopefully, help you decide what works best for YOU.
Let’s dive in!
- Should you be doing property management yourself? (2:14)
- What happens if you’re too lenient with your renters (4:04)
- Never forget that property management is a business (7:07)
- The challenges of handling repairs by yourself (9:15)
- Is the additional stress that comes with property management actually worth it? (11:11)
- How does hiring an expert help your real estate investment? (13:32)
- The many responsibilities of a property manager (15:34)
- Should you use a property manager? (19:26)
“We are all looking for a deal.” – Steve Earl
“If you have the right property manager, you will do significantly better than if you try to manage it yourself.” – Steve Earl
“I’m a great landlord for my tenant, I’m a terrible landlord for my bank account.” – Kevin Clayson
“If there’s something I’m not an absolute expert at, I do better to hire it out.” – Kevin Clayson
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Income replacement for you and your family may only be one property away!