Should I hire a property manager or self-manage? I hear this from small investors with 1 to 5 doors all the time. I manage 13 doors myself and I also run Northome Property Management for clients with similar portfolios. Here is how I break it down for people in Plymouth, Minnetonka, Eden Prairie and the … Read more
Property management fees come up in almost every conversation I have with small investors who own 3 to 12 rentals in the West Metro. The question is straightforward: how much should you expect to pay? I manage 13 doors myself and charge a flat $125 per month per property with no markups on repairs or … Read more
I get this question all the time from investors with 2 to 10 doors. You have a full time job, maybe a family, and you are wondering if paying someone to handle the rentals is worth it. I manage 13 doors myself and I also run Northome Property Management for other small investors in the … Read more
Small investors with 1 to 15 rentals ask me this question constantly. “Craig, should I just manage these myself or pay for help?” I manage 13 doors myself right now across the West Metro. I have seen what self-managing actually costs in time and lost income, and I have seen what a flat-rate manager saves. … Read more
The most common thing I hear from rental property owners when cost segregation comes up is some version of: “My CPA mentioned it but wasn’t sure it was worth it for my property.” I’ve heard the same thing from John Murphy at CSSI — he deals with this objection constantly, including on a $3 million … Read more
Most West Metro rental property owners are leaving thousands of dollars on the table every year — not because they made a bad investment, but because they’re depreciating their property the slow way. Standard depreciation spreads your building’s cost over 27.5 years (residential) or 39 years (commercial). The IRS treats your flooring, landscaping, appliances, cabinets, … Read more
If you’re running the BRRRR strategy in the West Metro, you already understand the value of recycling equity. Buy undervalued, renovate, refinance, pull cash out, repeat. What most BRRRR investors overlook is the tax side of the equation — specifically, how cost segregation can turn your renovation costs into a significant year-one deduction that funds … Read more
I get this question all the time from investors who own 3 to 8 doors in the West Metro. They wonder if paying someone to manage the properties is worth it when the portfolio is still small. If you have 3 to 10 rental properties, you have probably asked yourself whether to keep managing them … Read more