Navigating Landlord Responsibilities and Options | 5min snip from Real Estate Rookie

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401: Boost Your Cash Flow in 2024 with These “Self-Management” Tips w/Amelia McGee and Grace Gudenkauf

Real Estate Rookie

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CHAPTER

Navigating Landlord Responsibilities and Options

Exploring the challenges and benefits of self-management, property management companies, and employing an internal property manager in handling rental property issues like leaky toilets. Emphasizing the dual role of being a landlord as both a tenant manager and business owner, covering tasks from tenant selection to legal obligations.

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Want more cash flow with less stress while running your rental property portfolio? Then you need self-management! Amelia McGee and Grace Gudenkauf, seasoned investors and the minds behind BiggerPockets’ newest book, The Self-Managing Landlord, show you exactly how to do it. This episode peels back the curtain on the misconceptions that scare most investors away from self-managing their properties (like those feared 2 AM toilet emergencies!). Amelia and Grace expose how these scenarios are less frequent than most people think and offer smart strategies to handle them effortlessly.

The duo dives into the financial perks of taking the reins on property management, from dramatically cutting costs to boosting tenant retention and cash flow. They lay out a spectrum of management models—from DIY to hiring a dedicated team—and share their personal triumphs (and trials) within each approach. This is THE practical playbook for making property management a cornerstone of your real estate success.

You’ll learn how to establish effective systems for tenant onboarding, routine maintenance, and urgent repairs, ensuring your property management is both stress-free and profitable. Whether you’re just dipping your toes into real estate investing with your first property or looking to refine your existing portfolio, this episode is packed with actionable tips that promise to make your portfolio more passive!

In This Episode We Cover:

How to lower your costs and boost your cash flow significantly with self-management

What being a landlord is actually like, and why it’s not all 2 AM toilet calls

Building your real estate team so you can handle less of the day-to-day and focus on the big picture

Practical advice for setting up systems that streamline tenant onboarding and property maintenance

Grace’s $8,500 bookkeeping mistake that you CAN NOT afford to make

Tips for handling urgent property issues with WAY less stress

And So Much More!

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