If there’s one thing that’ll make or break your real estate portfolio, it’s property management. When done correctly, property management can feed you consistent, passive income without the everyday stressors of being a landlord. Whenever you hear people talking about bad tenants, midnight phone calls, or surprise maintenance problems, they’re really talking about property management gone wrong. So, how does a rookie real estate investor, with even just one rental property, start managing the right way so they can scale their portfolio faster? Amelia McGee and Grace Gudenkauf, authors of The Self-Managing Landlord, did it all wrong initially. They were picking up every tenant phone call, placing every service request, taking rent payments every which way, and here’s the thing—none of it was working. As they scaled their portfolios, things only got more difficult until finally, one day, they stopped and developed a system, and like that, their businesses took off.Now, only a few years into real estate investing, both Amelia and Grace have dozens of rental units to their names and less stress than ever before. How did they do it all WITHOUT hiring everything out to a property manager? In today’s show, they’ll share the self-managing principles they used to explode their rental portfolios while staying sane! And if you’re a new investor or are about to be one, these tips could save you YEARS of headaches!In This Episode We Cover:Why EVERY real estate investor should be self-managing when building their portfolioHow to start building your property management “system” that’ll save you HOURS a weekWhat brand new investors NEED to start doing once they have their first propertyThree apps/software that every real estate investor should haveTenant selection 101 and simple mistakes that could cost you months of rent How to know it's time to start outsourcing and signs you need some helpAnd So Much More!Links from the ShowFind an AgentFind a LenderBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchJoin BiggerPockets for FREELearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaExpand Your Investing Knowledge With the BiggerPockets BooksBe a Guest on the BiggerPockets PodcastAsk David Your Real Estate Investing QuestionDave's BiggerPockets ProfileDave's InstagramHenry's BiggerPockets ProfileHenry's InstagramBiggerPockets' InstagramRookie Podcast 111 - 26 Doors in 1 Year? Here’s How You Can Do It Too! w/Amelia McGeeRookie Podcast 161 - Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace GudenkaufSelf-Management vs. Property Management Company: What’s Right for You?Book Mentioned in the ShowThe Self-Managing Landord by Amelia McGee & Grace GudenkaufConnect with Grace & Amelia:Amelia's InstagramGrace's InstagramAmelia and Grace's Website

Intro

EVERYONE Should Self-Manage

How Bad Management Burns YOU

Start Doing This NOW

Tips for Your First Rental Property

3 Apps/Software You Need

Tenant Selection and Screening

Outsourcing vs. DIY

When to Hire it Out