Ray Calnan
Associate Professor of Real Estate at California State University, Northridge
In your experience, when is the best time in your life to start managing rental properties? And how many properties would you say investors should start with?
The best time to start managing properties is as soon as possible. Most real estate investors build wealth over time. Therefore, starting early will help you build your portfolio. The key thing to remember is that different types of investments require varying levels of hands-on management. If you are handy and can take care of some of the repairs, or are familiar with the rental process and can lease the property on your own, then you will be able to capture more of the return yourself. However, this requires time and energy. Many younger people who have more time and less capital are happier to do the work themselves in order to keep more of the return. This makes 1-4 unit residential properties more attractive to beginning investors, whereas seasoned investors may decide to move to NNN properties requiring less hands-on management.
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