RENT Magazine Q1 '22


If we had to pick our favorite category, it would probably be policies and procedures. The reason we invest in real estate is to create passive income and cash flow, right? Well, if either of those becomes obstructed, then your investment starts to turn into a money hole, so you want to find out: #9 What is your move-in/out process? #10 What are your eviction policy and process? By having a solid system in place for both of these questions, it leaves no room for gray areas when it comes to policies. A property manager who does not have a specific procedure dealing with evictions can lead to contradictions and headaches. If the rent is due on the 3rd of the month, then they need to deliver the message to all the late tenants to pay or quit on the 4th. Wishy washy decisions and behaviors are taken off the table immediately by following a system.

We hope these questions and tips have helped you. We recommend interviewing at least 3-5 property managers in the market you are looking at. Take some time to compare and contrast which property manager will be the best for YOU. Do what you can to practice: roleplay an interview call, outline these questions, and get comfortable with the words coming out of your mouth. As soon as you know it, you will be making calls without thinking twice about it.

The agonizing state of analysis paralysis can hit hard throughout your investing journey. Hiring a property manager can be one of those times, and a lack of knowledge and feeling out of place can leave you feeling defeated before you even start. We understand the intimidation can be heart pounding BUT this might be the very thing you need to do to get unstuck and into action. If you push through the fear, you will start to see a HUGE difference in your profitability and portfolio.

JEN AND STACY CONKEY Founders Warriors of Wealth Coaching Click here to watch free Multifamily Real Estate Investing videos

Jen and Stacy Conkey have a combined 20+ years as entrepreneurs and real estate investors. Through their diverse real estate experiences, Jen and Stacy Conkey know what it takes to identify deals and make offers on properties that will build a long-lasting wealth portfolio. With over a decade of experience sharing knowledge with other investors, Jen and Stacy have taught thousands of people across the globe on what it takes to succeed in real estate investing, with actionable strategies that make cashflow real estate fun and easy.

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