Quote: (12-23-2014 09:58 AM)Killface Wrote:
Quote: (12-23-2014 09:51 AM)Onto Wrote:
Quote: (12-23-2014 09:34 AM)Killface Wrote:
Dividend stocks are cool. They're totally passive unlike real estate, which is just 95% passive.
You're in for a rude awakening. Especially if you really have 30 units.
Possibly, but I have a property manager who I give wide discretion to. They have treated me well and I trust them so far. I also have a network of friends and various real estate people back home to take care of anything they couldn't take care of themselves, though I don't know what that would be. I usually answer an email once every 2-3 days, or if shit is hitting the fan I will spend 2-3 hours taking care of it...this happens maybe once a month. As the portfolio grows and the total revenue increases, I will give my manager even more discretion since my living expenses are fixed.
Having a property manager that takes care of everything is very expensive and you have to really check up on them to make sure they are doing quality work, and not skimming from you.
How are you paying them? Do they get a percentage of the rent and are supposed to foot the bill for all maintenance in return?
Is it just one big property with 30 units?
Who picks your tenants?
How long have you been in the rental business?