Comments on: Is it an investment or a job?

By: Ned

Ned — Mon, 15 Feb 2010 19:31:45 +0000

Richard,
Thanks for stopping by and sharing your story. I hope to see you here regularly.

Your comments points out how a good property manager can be golden but bad ones can cost you a fortune.

By: Richard DeBadts

Richard DeBadts — Mon, 15 Feb 2010 13:01:38 +0000

“Nobody watches your money or your properties like you do.” How true this is! I own a 2-family home located in another state and for years I managed it myself from whatever remote locatation I was in (my job always had me elsewhere). I was very lucky because I had good tenants, but overall it was very stressful because I never knew when something “big” might happen. Recently, I hired a property manager and almost immediately felt that level of stress disappear. Now however, when there is any kind of issue with the property the labor cost is usually more expensive than the actual fix! That’s one thing I have very little contol over. On the flip side though, my property manager did show me how to get an EXTRA $115 per month in rent which, very conveniently, covers my management fee!

By: Ned

Ned — Wed, 03 Dec 2008 04:29:09 +0000

Thanks for stopping by John.

Yes, I don’t trust management companies. Nobody watches your money or your properties like you do. But investors have to make sure they are not kidding themselves and are getting a return on their own work.

By: John @ Curious Cat Investing Blog

John @ Curious Cat Investing Blog — Fri, 28 Nov 2008 04:41:07 +0000

You are right that for many investors it is both an investment and a job. The return on your work is the price you would have to pay someone else to do the job. And to me the price for property management is very high. Both the up front charges and the companies do not seem very focused on keeping costs down, rather they want it to be as little work for them to get a pretty hefty payday.

By: Ned

Ned — Fri, 12 Sep 2008 17:09:27 +0000

Thanks Jay I appreciate the comment.

Ned

By: Jay

Jay — Fri, 12 Sep 2008 12:29:59 +0000

Hi Ned, your blog is awesome, particularly this post. Keep up the good work!

By: Upstart Agent

Upstart Agent — Thu, 28 Aug 2008 00:15:28 +0000

You’ve got a great point here…there is a big difference between investing and a “job”!

By: Ania

Ania — Wed, 27 Aug 2008 20:51:39 +0000

Great Blog and Great point!! We currently are involved with wholesaling, lease-options, and fix and flips. You are correct in saying fix and flips are a job, but they do bring great benefits!! Look forward to meeting you on the beach!!

By: Ned

Ned — Wed, 27 Aug 2008 03:39:45 +0000

Thanks Sue, I checked you blog out too., nice

Ned

By: Sue Massey

Sue Massey — Tue, 26 Aug 2008 23:01:02 +0000

A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks