There is a "lazy" investor in all of us.
Shoot. There is a lazy everything in all of us. Lazy at cleaning. Lazy at washing dishes. Lazy at ... forget it, I'm too lazy to even think of anything else. But you get my point.
As real estate investors we have to learn how to be "lazy." Lazy in the good way. I mean, why wash dishes if you can buy a dishwasher? Why clean your own car, when you can go to the car wash?
Investors must create a system in where you can manage properties on autopilot. The lazy investor way. What's the answer to that system? We'll get back to that in a second. First things first. Investors utilize this philosophy: "have people work for you, and MONEY work for you."
When you are making more money with money, that is the very definition of an investor. Guess what, real estate investors have people working for them too. That's the answer. Property managers are the answer to managing multiple properties.
Property managers are like babysitters. They take of your property like it's your baby. They "feed it" with tenants, so it always full. They clean up when it's messy. They report on the progress of it too, has it been doing good or bad? And how you can improve?
Here is a little run down on some things they do to help you as the lazy investor:
*Screen potential tenants---weeding out the good ones (paying, law abiding ones) from the bad apples
*Fix toilets and other maintenance work- so you don't have to
*Collect rent-- so you don't have that dreaded awkward moment when asking for the money
*Market your property
*Answer to tenant's requests or questions-- so you don't get bothered because you have more important things to tend to
*Accounting work-- this means the property manager makes certain the bills are paid: utilities, insurance, taxes, etc.
There are more other specific little things but their basic job is to make sure your property remains profitable without you being physically present on a daily basis. This is how the lazy investors manage more properties in less time. Just picture yourself making money without actually being there to create it. Imagine how easier life would be when you have people work for you. Is it time to be a lazy investor and let a property manager manage your properties?