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Anecdotally we make ~ $500/mo after property management costs, but it isn't 100% hands-off. They are a middleman which means they bother us instead of the tenan
by nkozyra 8y ago
Anecdotally we make ~ $500/mo after property management costs, but it isn't 100% hands-off. They are a middleman which means they bother us instead of the tenant.
I don't want to belittle the $500, but if we had good tenants and dealt with them directly we'd be getting double that.
Now is an extra grand a month worth the hassle with GOOD tenants? Maybe. But all it takes is one bad one to be in the hole and full of stress.
- sizzle 8y agoWow how are you making $1k over mortgage, is the market and location that hot?
- nkozyra 8y agoWe aren't because of the property management fees, but we could. We bought at absolute rock bottom in 2010.
- sizzle 8y agoSounds like a great investment, I'm paying several hundred a month unfortunately cause my market got cold. Might sell the property for a small profit if it keeps burning a hole in my pocket.