Managing your real estate portfolio
Managing only one unit is not a big deal, it only requires few hours of your time per month. Collecting the rent, doing small repairs etd. - almost anybody can do it. But most of the investors do not stop with one unit, they expand their business and soon it becomes impossible to have control over all properties owned.
That's the main reasons why some of the investors fail. They become to busi to maintain their rental properties and tenants are not statisfied with the service and they stop paying their rent. Because one man can not deal with so many tenants it leads to financal collaps.
To avoid it you should hire the professional real estate manager before it is too late. It will cost you about 10% of monthly rent but on the long term he can save you tons of money. Manager will take care of maintainance, collecting rents and sometimes looking for new tenants.
That's the main reasons why some of the investors fail. They become to busi to maintain their rental properties and tenants are not statisfied with the service and they stop paying their rent. Because one man can not deal with so many tenants it leads to financal collaps.
To avoid it you should hire the professional real estate manager before it is too late. It will cost you about 10% of monthly rent but on the long term he can save you tons of money. Manager will take care of maintainance, collecting rents and sometimes looking for new tenants.