It’s starting to get a bit overwhelming.
I have gradually been buying up rental properties in my local area. I see it as a really great investment. People are steadily moving to this part of the country and housing is at a premium. I look for buildings that have been allowed to become rundown and outdated. I’m able to purchase these properties at a reasonable price. I then make renovations and improvements. I handle the majority of the work myself. Other than hiring an electrician, plumber or HVAC contractor for the more involved jobs, I manage to replace windows, put down new floors, install light and plumbing fixtures, paint walls and ceilings and complete general improvements. While fixing up the interior and exterior of the building involves quite a bit of work and expense, I’ve proven that I can quickly make my money back. A nicer apartment is worth more. I can charge a higher rent and also attract a better quality of renter. People who can afford a higher security deposit and rent are less likely to cause damage or fail to keep up with their expenses. I currently own 12 units and they are all rented. I manage the building maintenance, renter concerns, lawn care and all the demands on my own. It’s starting to get a bit overwhelming. It might be time to hire an apartment management company to help me out. I would like to concentrate my time and energy on buying and fixing up more property rather than the constant upkeep of the existing rental units. I believe the cost of getting some assistance would be worth it.