How to Stop Property Management Fees from KILLING Your Cash Flow

Episode #296 Let’s face it—property management fees aren’t cheap. While you may need to hire a property manager if you’re investing out of state or are unable to self-manage your property, these costs can quickly eat into your profits if you’re not careful. How can you ensure that you’re getting high-quality services for a fair price and keep your overhead under control? Welcome back to another Rookie Reply! If you’re struggling to pull the trigger on hiring a property management company, we understand why you might be hesitant. Fortunately, Ashley and Tony are here to shed some light on the topic and share their own experiences with property management companies. They also talk about insuring properties during the rehab phase, as well as buying pre-foreclosed properties. Finally, they discuss balloon payments—what they are, how to use them to your advantage, and when it may be risky to get a loan that has them! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group, call us at the Rookie Request Line (1-888-5-ROOKIE), or click here: https://www.biggerpockets.com/reply ~~~~ Join BiggerPockets for FREE: https://www.biggerpockets.com/signup?... ~~~~ Join the Real Estate Rookie Facebook Group:   / realestaterookie   ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/lendermatch ~~~~ Submit Your Real Estate Rookie Question! https://www.biggerpockets.com/reply ~~~~ 0 Doors, 100% Creative Financing with Pace Morby: https://www.biggerpockets.com/blog/bi... ~~~~ Rookie Reply: Loan Amortization and Balloon Payments Explained: https://www.biggerpockets.com/blog/ro... ~~~~ 8 Tips for Hiring the Best Property Manager for Your Rentals: https://www.biggerpockets.com/blog/20... ~~~~ Connect with Ashley and Tony on BiggerPockets: Ashley: https://www.biggerpockets.com/users/e... Tony: https://www.biggerpockets.com/users/t... ~~~~ Shoot Ashley and Tony a Question on Instagram! @wealthfromrentals or   / wealthfromrentals   @tonyjrobinson or   / tonyjrobinson   00:00 Intro 02:56 Insuring Properties During Rehab 10:06 What Is a Balloon Payment? 23:49 Buying a Pre-Foreclosed Property 31:43 Property Management Fees 44:47 Send Us Your Question!