OfflineOwning real estate is fun and lucrative. It has allowed for great freedom and the creation of wealth. Taking care of your assests that you aquire does take some effort.
If you buy real estate that is out of state, budget your money so that you can go see your house the first year you own it. Visiting your property does not have to be a major expense. You may need to catch a flight in the morning and out that evening or simply stay over one night. Get to know your property and your manager. As well as knowing your manager, get the phone number of the tenant.
Stay aware of what is happening with your property. Keep in touch with your property manager and set expectations.
Best of Luck.
__________________
Roy Voeks
Official RE Coach
My biggest fear is what if the current management team fails to perform to your expectations. How difficult and stressful could it be to replace them. Have you had this type of experience? How do you qualify property managers from remote locations?
Jimi Klopp
610-816-0314
jimi@checks4houses.com
www.checks4houses.com
"Far better it is to dare mighty things, to win glorious triumphs even though checkered by failure, than to rank with those poor spirits who neither enjoy nor suffer much because they live in the gray twilight that knows neither victory nor defeat." - Theodore Roosevelt