Originally Posted by
freezingflyboy
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.
If the majority of your properties were purchased at 2009/10 prices 3rd party property management would work. Nearly every type of property generated significant cashflow at those prices. Lots of folks became millionaires purchasing properties at those significantly depressed levels.
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