“Should I hire a property manager?” That’s the question on most new real estate investors’ minds once they close on their first rental property. So, what are the pros and cons of hiring a property manager, and is the extra fee worth less stress? Or should you start self-managing your own rental properties and pocket that extra ten percent of rent? We asked financially free real estate investor Michael Glunk for his take.
Michael escaped the W2 world after building a small but mighty rental property portfolio. Now, he has real estate investments across multiple states, but he still chooses to self-manage some while hiring property managers for others. So, when is it time to draw the line and hire a professional property manager vs. handle the tenants yourself? According to Michael, it’s not a complicated choice!
We’ll walk through the pros and cons of hiring a property manager and self-managing your rental properties, how to do both, expert investing tips on getting started, and how to combine the two to create the ultimate “hybrid” management solution for the most cash flow with the least stress!
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The Pros & Cons of Hiring a Property Manager:
https://www.biggerpockets.com/blog/property-managers-pros-cons?utm_source=youtube&utm_medium=description&utm_campaign=none
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Do You Need a Property Manager—or Can You Manage Your Properties Alone?
https://www.biggerpockets.com/blog/do-you-need-a-property-manager-rental?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Michael:
BiggerPockets: https://www.biggerpockets.com/users/michaelglunk?utm_source=youtube&utm_medium=description&utm_campaign=none
YouTube: https://www.youtube.com/@michaelglunk
Website: https://michaelglunk.com/
00:00 Should You Hire a Property Manager?
01:38 Property Manager Pros
03:47 Property Manager Cons
04:43 Hiring a Property Manager
05:54 Self-Management Pros
07:57 Self-Management Cons
08:28 How to Self-Manage
09:49 You CAN Do Both!
