If there’s one thing that’ll make or break your real estate portfolio, it’s property management. When done correctly, property management can feed you consistent, passive income without the everyday stressors of being a landlord. Whenever you hear people talking about bad tenants, midnight phone calls, or surprise maintenance problems, they’re really talking about property management gone wrong. So, how does a rookie real estate investor, with even just one rental property, start managing the right way so they can scale their portfolio faster?
Amelia McGee and Grace Gudenkauf, authors of “The Self-Managing Landlord,” did it all wrong initially. They were picking up every tenant phone call, placing every service request, taking rent payments every which way, and here’s the thing—none of it was working. As they scaled their portfolios, things only got more difficult until finally, one day, they stopped and developed a system, and like that, their businesses took off.
Now, only a few years into real estate investing, both Amelia and Grace have dozens of rental units to their names and less stress than ever before. How did they do it all WITHOUT hiring everything out to a property manager? In today’s show, they’ll share the self-managing principles they used to explode their rental portfolios while staying sane! And if you’re a new investor or are about to be one, these tips could save you YEARS of headaches!
Grab Your Copy of “The Self-Managing Landlord”:
https://store.biggerpockets.com/products/self-managing-landlord?utm_source=youtube&utm_medium=description&utm_campaign=none
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Grab Your Copy of “The Self-Managing Landlord”:
https://store.biggerpockets.com/products/self-managing-landlord?utm_source=youtube&utm_medium=description&utm_campaign=none
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26 Doors in 1 Year? Here’s How You Can Do It Too! w/Amelia McGee:
https://www.biggerpockets.com/blog/rookie-podcast-111-amelia-mcgee?utm_source=youtube&utm_medium=description&utm_campaign=none
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Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace Gudenkauf:
https://www.biggerpockets.com/blog/rookie-podcast-161-grace-gudenkauf?utm_source=youtube&utm_medium=description&utm_campaign=none
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Self-Management vs. Property Management Company: What’s Right for You?
https://www.biggerpockets.com/blog/property-management-vs-self-management?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Dave:
BiggerPockets: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @thedatadeli or https://www.instagram.com/thedatadeli/
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Connect with Henry:
BiggerPockets: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/
Show notes at: https://link.chtbl.com/BPRE
00:00 Intro
02:12 EVERYONE Should Self-Manage
04:31 How Bad Management Burns YOU
09:22 Start Doing This NOW
13:59 Tips for Your First Rental Property
19:30 3 Apps/Software You Need
22:40 Tenant Selection and Screening
26:54 Outsourcing vs. DIY
32:33 When to Hire it Out
37:21 Grab the Book!
