Cody discussed on BiggerPockets Real Estate Podcast

Automatic TRANSCRIPT

How you've navigated those waters? How you've kept it from making you hate real estate? Well, that comes down that your last point about not hate in the real estate. I had to buy something that was big enough to support my mission to support the why. It could retire my mom and retire myself if it was paid off. I kept that in my mind. I go back to that every single time I look at buying something. But for the management piece, I started out managing it myself. I had systems in place, which were helpful. I have a folio, which have your software to keep track of rent collection and 24/7 maintenance reports and keep track. We'll have books coming in. We have QuickBooks and stuff. I had systems in place that were helping me out. But when it came to making phone calls, tenants, they put in their maintenance requests that whatever time I'd give them a call up and say, hey, this is Cody, I'm going to be working on this right now. And in the beginning, I was doing everything myself. So on the non urgent stuff, I would drive over there. And I did it fixed, which was not a very good use of time. I recommend people just pay times worth more than you think. Then I just started hiring everything out. And so now I have a system where rents come in online through their online portal, and it's going to put an online maintenance request, something thumbs up. I've got a full-time employee, which goes through all the tax side to do. But in the beginning, I was there taking care of every little item. If circuits blew, I FaceTimed a family friend who had done electrical before. Do I put this wire here? It was that. And I've been shocked before. I've got electrocuted. I wasn't being smart. I was trying to take shortcuts. Don't do that either. Turn off the breaker. But I had to learn the hard way that there's a lot of work that goes into it. And your property is essentially your baby. And you can let it die and then you become what's called a slumlord..

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