Letting your Residential Real Estate Investments go over to a property manager, sometimes it brings back an old, familiar feeling. Handing the management of your real estate to a stranger is somewhat similar putting your kid on the school bus for the very first time.

You’re pretty sure everything will be Hire a Property Manager okay and you’ve done your job to this point but now someone else will be helping out, taking control and overseeing your “project.” Yet at some point, holding real estate and managing it at the same time gets to be too much.

Owning one property or even two or three can be manageable but once you get too much beyond that, it’s best to let someone else take the reins.

Your job as a real estate investor is to find real estate to either flip or hold for long term appreciation and cash flow. Your job as a real estate investor isn’t necessarily dedicated to finding tenants, collecting rent and changing out a dishwasher. Those are day to day maintenance items that are part of holding real estate, not contributing to long term wealth and monthly cash flow. They’re details that get in the way, distracting you from your long term goals.

That’s when you decide it’s time for a property manager. Just as you can hire an employee to help with daily activities when running a business such as answering the phone or making sure the copy machine works, the employee is there to provide basic functions making sure the business is up and running on a daily basis. Such routines are necessary no doubt, but they’re not the sole reason for owning and running a company. The goal is to make money and anything that slows down that process needs to be addressed. When you find you’re spending too much time on operations and less time finding more money-making opportunities, it’s time a property manager steps in.