Responsible But Simple Business is “Manage property”
It is a common misconception that in order to make money you must own a property.
If you want to jump into real estate without buying a property, try property management.
Property managers provide handle maintenance, care and in many cases receive a fee (usually a percentage of rent) for the property owner. In addition, you need to be able to find a new tenant to make sure your property is rented out permanently.
If you start a property management company, expect to work full time.
Although you can run your property management business from home, it will be easy to dedicate to the business, because the properties you manage require paint, drywall, cleaning supplies and other general maintenance equipment. Will be.
Additional costs may include lawn care and landscaping, plumbing, electrical work and painting assistants or subcontractors.
The most difficult aspect of property management is that it is a 24/7 job.
The properties you manage need to be available to you in case of an emergency. If you are not available for storm damage or emergency repairs, you will need immediate action or an emergency plan.