Since I invest in affordable real estate investments, but I currently live in the Washington DC Area, I invest in real estate 30-90 miles, and sometimes even 400 miles, away. The key part of this strategy is finding a licensed property manager. A property manager is a person that takes care of finding tenants for your rental property, conducting maintenance, responding to tenant concerns, and filing eviction. It is a matured industry that used to be exclusively held by real estate agents for side income, or a friend of the family. However, with the explosion real estate investing, this industry has become a key player in facilitating passive real estate income. In theory, they should make your real estate investing smooth, and should free you up to geographic diversity since you dont have to necessarily be on site to manage your property. That being said, its VERY important to find a good property manager, because a bad one will cause you as much stress as doing the work you want.
This webisode illustrates why this is such an important strategy for building a real estate investing business, and what to look for when qualifying a potential property manager for your investment. Remember, there is an abundance of opportunities in real estate investing, so when making a choice on where or how to invest, keep in mind you have a variety of choices that can make your investing easier.
13 Comments
Thanks all. This may not seem like a lot, but I looked up and saw I had 23 subscribers. You guys are the ones who are here on the ground first! I will make sure I do something very special for all of you!
Great video. I am inspired!
I live in the San Francisco Bay area and homes are not even close to
affordable out here. I am thinking of choosing between buying in Austin TX
or choosing a high rent neighborhood in a town about an hour from my home.
Could you lend me your thoughts? This will be my first purchase, I am 26.
Great vid! Is that NAORPM or NARPM? I’m in New York, NY, looking at
property in Newburgh, NY. About 1hr, 15min. north of the city. Should I
still get a property manager with it being that close? And if not, would
just visiting the property on Saturday mornings be enough from me? Could I
really heavily rely on the property manager, whereas I barely have to visit
the place?
Hey Lisa, great video! I’m NoVA based, however living in the Hampton
Roads area currently and ended up buying a couple properties here during my
time. Have you looked into the 757 at all? I find the rent price to
property cost ratio to be relatively high in many areas here. I do plan on
moving back to the DC area this year so I may start looking into Richmond
and Bmore as well. I’m j/w if you’ve ever compared the three markets
(757, 804, 410) and have anything to comment?
I live in Towson, Md and I am thinking of buying my rental property in
another state now . This video opened my mind up to some new ideas. thank
you for this information.
I love you Lisa, not romantically, but in a real estate way. You are
honest, inspiring and simply the best. I’m a fan…
great video,thanks
You’re doing a great job Lisa, this info on finding PMs outside of my local
area is very useful. Thanks for the inspiration!!
YOU ARE SUCH A GREAT SPEAKER LISA. I CAN LISTEN TO YOU ALL DAY. THANK YOU .
WHAT A TALENTED YOUNG LADY YOU ARE.
Good Work Lisa! You should offer your services as a coach… or Mentor…
thank you so much your videos are great, learning a lot.
Thank you..REALLY , for the information. Do you have a website that to use
to search for rental properties across the country..?..Please let me know.