One of the absolute biggest factors into whether a section, a deal that you’re doing succeeds or not, is this property management. You absolutely need to have good property management or it can make your experience completely awful.
But Joseph, how do I find good property management? Well, if you’re one of my clients and filled out the Google form in my bio, that means I’m going to send you to a realtor who specializes in investing. Meaning they’re gonna already have these companies on hand for you. You can also go on the website, bigger pockets. It’s kind of like Reddit for investors. They have a classified section where you can ask for property managers and whatever area you’re looking for, and you’re gonna get just flooded with DMS from people. You can also just take the classic route and just honestly Google and start cold calling.
Whatever route you go, make sure you know a few things. First off, most property management companies charge less than 12% of the rents. They can also just find the tenants for you and create a lease for a fee, and there is always going to be some random onboarding fee. It’s usually not a lot, few hundred bucks, but it’s very annoying as always. I’m Joseph Katari, Realtor in the state of Virginia. Comment any questions and follow for more.