I had an IP that was managed by a PM and one that I self-managed.
I found the one that was managed by the PM was more like a 'lazy' investment - because as rent was being paid and was located 1.5 hours away, I wouldn't think about it much.
3 years later, I decided to sell this IP, and I couldn't believe the state of the IP. There weren't holes in wall etc, but it was disgustingly dirty and needed a complete re-paint before selling. I mean I know this happens but the IP was purchased new only 3 years prior. I felt the PM let me down but dems are the breaks I guess.
The second IP I owned was self-managed. My tenant kept the place immaculate as I would collect the rent personally (old fashioned way) because it was a 2 minute walk from my PPOR. One day I received a call from the neighbour (who knew me) that he was walking around the front yard naked and if I didn't do anything about it, they would.
I ended up talking to him and we were both humiliated and he moved out soon after.
Anyway morale of my story is - choose what suits you - you could have horror stories both ways.
Good luck....
I found the one that was managed by the PM was more like a 'lazy' investment - because as rent was being paid and was located 1.5 hours away, I wouldn't think about it much.
3 years later, I decided to sell this IP, and I couldn't believe the state of the IP. There weren't holes in wall etc, but it was disgustingly dirty and needed a complete re-paint before selling. I mean I know this happens but the IP was purchased new only 3 years prior. I felt the PM let me down but dems are the breaks I guess.
The second IP I owned was self-managed. My tenant kept the place immaculate as I would collect the rent personally (old fashioned way) because it was a 2 minute walk from my PPOR. One day I received a call from the neighbour (who knew me) that he was walking around the front yard naked and if I didn't do anything about it, they would.
I ended up talking to him and we were both humiliated and he moved out soon after.
Anyway morale of my story is - choose what suits you - you could have horror stories both ways.
Good luck....