You can hire a company to manage all that for you. Sure, there's an expense, but they take care of everything while you're gone.
Daniel1120 · 26-30, M
@AcidBurn is there? How much would it cost per month for them to do that?
@Daniel1120 I have no idea. My uncle had someone take care of his properties for him, but I never asked him about the cost. I'd imagine it depends on what you want them to do and where the properties are.
Daniel1120 · 26-30, M
@AcidBurn yeah I ended up looking it up and they charge around 10% of your rent a month and I think some may handle maintenance work and that might cost extra fees if maintenance needs to be done. Overall doesn’t sound like a bad alternative to have. Hell I might end up buying property around where I live now and could probably have my parents take care of them for cheaper plus it’s around fort benning so there are tons of military families in the area.
midnightrose · F
MikeSp · 56-60, M
Whether you are there or not, a property mngmnt firm can take care of all the crap involved with renters and the business end of things; advertising, collecting, evicting, fixing, etc. Your rentals are assets and you should hire pros to manage them. Your time is also an asset, and you need to manage it for maximum efficiency. Your finances are assets, so when they grow big enough, hire a CPA firm to advise you on taxes, rentals, asset protection, etc. and to do all the forms. Hiring pros puts a layer of protection between you and others that want your money; IRS, sue-happy scum, etc. They are bonded or have insurance to cover their mistakes.