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So it sounds like you pay someone to manage your properties? How were you able to find a good trustworthy people? What does it do to your profits? Also, how

So it sounds like you pay someone to manage your properties? How were you able to find a good trustworthy people? What does it do to your profits? Also, how do you deal with major expenses, like if a furnace needs to be replaced, or roof damage? Do you maintain a rainy day fund for this? What kind of average expenses do you see for your properties over time?

jsonmez 10y ago
Yes. Vetting a good property management company is difficult. I've fired more than a few. But, now I have good managers in place. Typically, you can expect 10% of rents for management fee--well worth paying. You should factor this in when considering a property. For major expenses, I have some reserves and I figure a 10-20% buffer again off of the rent of the property. This covers the average expenses over time.