203: The Ultimate Property Management Masterclass w/Expert Property Manager Karen Lane
2Description
Property management can be one of the more complex decisions when it comes to investing. Do you save money and ensure the job is done exactly how you want it by self-managing, or do you invest in someone with experience and save yourself time, energy, and headspace? Today’s guest, Karen Lane, breaks down property management in bite-size chunks, so whether you’re deciding between property management vs. self-management or hoping to pursue property management already, this episode is perfect for you.
Karen has been in property management for commercial real estate for most of her career, so she’s seen it all—including a dead deer carcass in the middle of a shopping center parking lot. She’s worked with private investors on both coasts and internationally. Karen’s abundant experience has made her a wealth of knowledge and the perfect person to learn from. While she has thrived in the property management space, she now hopes to beat analysis paralysis and find her first investment.
Karen goes over what it means to be a property manager and how to become one. She also talks about the nuances of juggling the different relationships you need to maintain as a property manager. Today’s episode is the free property management masterclass you don’t want to miss.
In This Episode We Cover
What it means to be a property manager and how to know if you have what it takes
Finding and vetting a property manager to make sure your goals and expectations align
How to keep the landlord and the tenant happy and find a middle ground
Management agreements and how to understand the property management fees that come along with it
How to check for hidden fees as a landlord
The most significant things to look for in a property manager to make sure your relationship is successful
The ideal reporting structure, the cadence, and what you should include
And So Much More!
Links from the Show
Real Estate Rookie Facebook Group
A Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1)
Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James Dainard
18 Deals in 2 Years AND a Full Time Job with Kevin Christensen
Connect with Karen:
Karen's Property Management Company
Check out the full show notes here: https://biggerpockets.com/blog/rookie-203
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