Property Management-What’s The Big Deal-I Can Find Tenants and Collect Rent-It’s a No Brainer!

San Diego,CA Real Estate has always been a good long term investment. Barring the recent meltdown, investing in real estate has historically out-performed other investments over the long term. One caveat: management. You do not manage a stock portfolio the same way you manage a property. Most stock portfolios I know don’t have leaky toilets or termite infestations.


One of my prospective clients asked what I did to find a tenant in San Diego, CA that he himself wasn’t able to do? I said, actually you can do everything I can do….but why do you WANT to spend your free time working? Should you buy income property in San Diego, CA and manage it yourself? Maybe, but be prepared to answer the following questions honestly:

 

Do you:

1. like to spend week-ends showing property?
2. have familiarity with local laws and/or access to a Real Estate Attorney to help you?
3. have good “people” skills?
4. know how to mediate tenant issues that arise?
5. have access to handymen, cleaning crew, painters etc
6. know how to do book-keeping within the requirements of the law?
7. know how to be completely neutral to race, gender, sexual preference or religion?
8. know how to handle deposits as required by law?

Here is another way to look at income property in San Diego, CA and self-management:


I like to paint. I have a ladder, brushes and paint. But wouldn’t it be more cost effective for me to hire a painter? Do you think the professional painter could do a better job in half the time? And aren’t I better off doing what I do best, Real Estate?
You cannot say that you save money by doing your own painting unless you factor into the equation what your time is worth. If your time is worth $150/hour, and it takes you 20 hours to paint your house, then you just lost $3000 of income. If you can pay someone $2000, you are ahead of the game by hiring a professional. I am sure you get my drift.

Paying a professional property manager to keep your place filled with good quality tenants, making sure it’s maintained and keeping the Financials within the requirements of state lawconsidering poor management is the number one reason income property fails to produce income—we are worth our weight in gold!

 

 

Contact Me to Manage Your Property!

This entry was posted in Active Rain and tagged , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *