Just hoping for a quick few minutes of your time.
I am clearly convinced Property Investment is where the money is as I do not want to spend my whole life confined to working within the walls of a supermarket.
I am yet to start but with enough equity to make some moves, I was wanting to pick all your brains.
What I am considering is investing with my wife and run a business on the side managing our properties?
Anyone out there doing the same/done the same with any tips and points of things to watch out for????
many investors manage their own investments, I do my own and always have done, it can be very sole building or destroying.
It doesn’t take a great deal of time, so it’s not a full time job, unless you have 30 or more.
After a few years of frustration and being blatantly lied to by 5 separate PMs, we were in a position to self manage and everything has been excellent since.
The wife gained her PM qualification and now works for an RE co. to gain more Comm & Ind. prop. experience.
Just saw a deal – since taken – where the tenant (a Fed. Govt agency) paid $16K p.a. to a PM to manage themselves. Getting a major slice of that action, or all of it, helps boost the return on the prop somewhat.
It can be lucrative – but I’d suggest getting a few zero’s onto the end of the deal – wouldn’t be worth my time with normal res. prop.