Originally Posted by
Trip7
Very true on the amount of work. Although it seems the majority of the work is at the beginning, setting up your team, systems and processes. After that gets rolling a lot of the workload is on autopilot. One sponsor told me managing a 400 unit apartment building is easier than managing a duplex he had when he first started because the apartment building is has so much scale it pays for the on site maintenance and leasing team. A duplex that responsibility is all you because the scale is so small property management would zap most if not all your cashflow.
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I have not found that to be the case at all. I have been doing small scale residential rentals for about 10 years now. I pay my manager approximately $150 per month per property plus expenses. That covers simple repairs, advertising and filling vacancies, screening tenants, maintenance during periods of vacancy and a few other minor things. After it's all said and done I net, on average, $900/mo per property so I'd hardly say that all my cashflow has been zapped. Occasionally big expenses do come up and that can put a damper on cash flow but you just have to plan and budget for those.