“Tragedy is a tool for the living to gain wisdom, not a guide by which to live.”
–Robert F. Kennedy
I’m a big fan of real estate investing, particularly if one of your financial goals is to achieve PIRE. We own several properties ourselves and continue to accumulate rental properties. Given that I have zero mechanical ability and we have no desire to deal with the 2 AM “toilet is broken” phone calls from our renters, we use a property manager.
We also use a property manager because she acts as a buffer between us and the renters. Even though it’s quite simple to look on the record of deeds and find out that we own these properties, we’d prefer to keep some distance between ourselves and our renters. We try to be good owners and landlords, rent for fair prices, and provide good, clean, affordable housing, and, by and large, our renters stay in our properties for longer periods of time – which I think is a situation that benefits all parties involved.
However, there are times when we can’t maintain that distance.