How I’m Quietly Turning 4 Rental Properties into a Passive Income Goldmine While Crushing My 9-5 Grind
Tony:
So Mike, one of the other people that you mentioned that were an important part of your team was your property manager. I guess first, why did you choose property management? Some people say like, Hey, I can do this myself. What was it about the idea of property management that made it attractive for you?
Mike:
So first of all, from a distance, I had no desire at all that I just felt like there’s no way. And to keep it a little bit more passive, I had to find somebody. I looked into a few of the referrals that had been, whether it be Facebook posts, BiggerPockets from my agent and Google, this is one that I ended up going separately and kind of picking my own just because of the interview process and I think I asked the standard questions. A lot of people ask property manager it’s do you invest yourself? How long have you been in business? What do you know about this market, this thing, what kind of assets are you generally, how many assets do you have under management? What do you work with primarily, stuff like that. A lot of the people that I interviewed had a very corporate, very high level response to a lot of the questions. It was kind of like, well, we manage the area, we do have a little bit of everything. It was never the kind of, you didn’t get that hometown feel that I got out of this guy who still had a 20 year track record. He was a local investor, he knew and he could very easily mention things like street by street, neighborhood by neighborhood, and I just felt more confident in that. Plus he had good Google reviews, so I went that way and so far I’ve been happy.
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