Are you planning on purchasing another rental property to add to your portfolio of Monterey area investment properties?
It’s understandable that you may be planning on self-managing that additional rental property but, it’s not advisable, since there are a wide variety of problems that come from adding another property to your rental portfolio.
Problem #1 – To Many Tasks
Although you may currently be managing one or more rental properties yourself without any problems, the reality is that any time you add on an additional property to an Investment portfolio that only has one or two rental properties, this always adds on to the tasks that a landlord has to deal with.
Problem #2 – You Have to Commit More Time
Yes, the idea of owning another investment property may seem ideal because you think you’re adding to your net worth, which you are, but, by adding another property to your portfolio you’re also having to commit yourself to invest more time in managing that property yourself on a weekly or monthly basis.
Problem #3 – More of A Mental Drain
Another thing to consider before adding another property to your portfolio of investment properties is the fact that adding on that additional property is going to saddle you with additional responsibilities that you’re going to have to deal with.
What’s the Solution to The Problem?
Before adding that additional property to your portfolio of investment properties, consider outsourcing property management to a professional property management company like 36 North Property Management.
Our company specializes in managing long-term investment properties in the Monterey area. We can promise you professional property management that will save you the time, money, and hassle of managing your investment properties yourself.
Contact 36 North Property Management
For more information about the rental market, or to speak with us about our property management services, contact us today by calling (831) 484-4604 or click here to connect with us online.