Managing a Rental Property for the First Time

๐Ÿš— Back with another video behind the wheel. This time, I'm answering one of your questions. If you have any questions you'd like me to answer while I'm driving, please drop them below!

So, have you ever been in a $200,000 SUV? Today, I'm in my Cayenne Turbo S, which was the fastest, most powerful, and luxurious SUV you could buy in 2014. Thankfully, I didn't pay anywhere near that much for it!

But let's get to your question. VT 247 Vacation Time 24/7 asked about overcoming the fear of making a large purchase like rental property and finding good property managers, tenants, and looking out for owners.

To answer your question, the way I bought my first rental property was by using profits from a stock investment for a substantial down payment. Renting it out and managing it, I decided to hire a property manager since I was hours away from the property. Here's how I found a good property manager:

  1. Ask Around: I joined a Facebook group with real estate professionals and asked for recommendations.
  2. Research: I looked at the names that kept coming up and checked their reviews.
  3. Contact: I reached out, had a conversation, and made sure they were a good fit.

For me, it was worth paying the management fees because they handled everything from finding tenants to managing repairs. If the numbers make sense, just go for it. Invest in property like I did, even if it means cashing out long-term investments.

If you have more questions about real estate or anything else, feel free to ask! I run a real estate sales team and work with over 200 professionals, so I have a lot of experience to share. If you're driven and want to grow, I'd love to connect and see how we can help each other succeed.

Connect with me via the link in the description below to book a Zoom call or drop a question. Let's crush it in real estate together! ๐Ÿ’ช๐Ÿก

realestate


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