What % use Property Managers

Hey 4,
I am definitiely using a property manager. My time is valuable and the 6.5% is cheap for the next deal I can be finding. I do regularly check up on them and randomly drop in with a cahke to say gooday but I feel they are reasonably competent and they do free me up.
Imagine 20 properties with $150/week rent = $3000/week.
Management costs me $3000*6.5% = 195/week
So over a year it will cost me $10000. Now if I find three good deals a year I make $100,000 (minimum).
I believe this far outweighs the fun of property management (tongue in cheek).

Everything I do I look at an hourly rate and work backwards. Over the last year we have made a reasonable return oon our property and I work out the hourly rate for that year and if someone can do it cheaper then it is their work. Usually people can do it for cheaper than I can myself(and a whole lot better).

Hope this helps.

Enjoy
AD [:0)]
(Andrew)

“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert Einstein

Hi,
Our closest investment property is 1600km away and it came with a tenant 6 years ago when we purchased it. We don’t use an agent for that one (he is an incredible tenant and we appreciate him), but the others are even further and yes, we wouldn’t be without a property manager. We interview them, just as they would a tenant and make sure that we are comfortable with them. It lets us spend time looking for the next investment, rather than worry about what someone else is doing. I suppose it’s also the tyranny of distance.
cheers
H[]