While there are a lot of benefits that come with having a property or building manager, it is not for everyone. There are many investors who much prefer to stay in control by flying solo without any property manager in toe. Sounds like you?

 If you have an existing investment or thinking of buying property, and are entertaining the thought of going DIY when it comes to the everyday management of your investment property, here are 10 questions you will need to ask yourself before taking the plunge and managing your own portfolio:

1. Are you assertive enough to chase up late rent?
2. Do you have the confidence to negotiate regular rent increases?
3. Do you have access to quality, reliable tradesmen?
4. Will landlords insurance cover you if you self-manage – if so, will the premium rise?
5. Do you feel comfortable with the tenant being able to contact you 24-7?
6. If you go on a holiday or overseas how will you manage the tenancy?
7. How will you verify that tenants are who they say they are?
8. How will you know if tenants have been evicted or have a poor rental history?
9. Could you evict a family, or person who has fallen on hard times?
10. Are you familiar with tenancy legislation? Do you have the time, expertise and confidence to go to a tribunal and publicly argue your case, if necessary?

While these points are all valid and definitely need to be considered, when going it alone, it all comes down to the million-dollar question – How much money will it save you, after tax? After all, it is an investment property and the entire point is to make money. Is it not?

So with all things considered, you really need to crunch the numbers and work out what you time is worth? Have you got the resources and freedom to devote to your investments? Or would that time (and stress) be better spent on other priorities?

The reality is that not everyone has the skills, time and temperament to successfully manage their own investment, particularly one of the size and scale required for real estate.

Whether you opt to manage your own investment or you outsource a professional, you will always need the backing of a reliable and trustworthy real estate agent to help you source and secure those valuable investment deals. You know, those ‘too good to be true ones’ that allow you to continuously build on your portfolio.

Thankfully that is where we come into the picture. Here at HSBP we source some of the best investment properties that Brisbane has to offer, which is why we work with some of Australia’s biggest property investors. For more information or to secure a private appointment, contact us on 0419 782 133.