Creating Wealth Real Estate Investing with Jason Hartman CW 952 - Self-Management vs Hybrid Management vs Property Managers with Jason's Mom & Drew, Part 2
Jason Hartman, his mom Joyce, and Drew finish up their long talk about property management practices. This time Drew throws some questions toward Joyce about how to walk the line with a tenant while still keeping a good personal relationship with them, tenant retention, and Jason's theory on the pinball effect that can happen when you own enough places in one market.
Key Takeaways:
Jason Intro:
[2:01] Occassionally you may have difficulty with insurance when you self-manage
[2:56] The riskiest part of self-managing is the tenant turn
[6:34] Join Jason on a trip to Sweden or come to San Jose for the next JHU event
Joyce & Drew Interview:
[9:34] One of the nice things about not being near your investment properties is that you CAN'T go over and meet anybody
[11:56] How to retain tenants, and how to get rid of deadbeats
[14:16] Once you've formed a relationship with a tenant as a self-manager, is it awkward to raise the rent on them or enforce late fees, etc?
[18:38] When do you build the expectation of rent increases into the relationship?
[25:39] Why the hybrid management is the best system, and what to expect from your realtor helping you
[28:15] Do self-management styles change based on the type of neighborhood your property is in?
[31:46] Jason's pinball effect when you have enough properties in one market
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