Episode 36: The Real Cost of Running Your Own Property Management (It's Not What You Think)

Property management is one of the most misunderstood and most demanding businesses in real estate.In this episode of Strength in Numbers, Marcus Crigler breaks down what it really takes to manage your own properties or run a property management company profitably. He explains why most property management companies struggle and the hidden costs that investors often overlook.You’ll Learn How To:Decide whether managing your own properties makes senseUnderstand the real skill sets required to run property managementAvoid the common financial mistakes property managers makeKnow when a property management business becomes profitableWhat You’ll Learn in This Episode:(01:30) The most common question investors ask about property management(02:40) The key questions to ask before starting a management company(03:01) The two very different skill sets in property management(04:24) Why owners rarely rave about outsourced property managers(04:47) Where the property management industry falls short(06:07) Property managers don’t operate as fiduciaries(06:44) The truth about profitability in the first 300 units(08:44) Why property management is not a get-rich-quick play(09:12) Buying vs starting a property management companyWho This Episode Is For:Real estate investors who are considering self-managing their portfolioOperators who are planning to start a property management companyBusiness owners who want more control over their assetsWhy You Should Listen:If you have ever wondered whether running your own property management is worth the effort, this episode gives you the unfiltered truth.Connect with Marcus Crigler:Website: https://beccfo.com/LinkedIn: https://www.linkedin.com/in/marcus-crigler-cpa-977a45b7 Facebook: https://facebook.com/marcus.crigler