Can you Manage Rental Property as a Side Job?

Cedar Cottage Dining TableMany people want to get involved with real estate investing, but have one important detail holding them back: their day job. This leads to the question of whether or not it is possible to manage rental property as a side job. If you can find a way to work this into your life, without quitting your day job, you may be onto something.

Simply put, it is possible to manage rental property as a side job. But that being said, this is far from easy. If you are going to get involved with real estate investing you need to make sure that you are willing to put in the time. Unfortunately, many new investors underestimate the amount of time that it takes to manage a rental property.

You may find that you need help sooner or later. In this case you should not be afraid of looking for outside assistance. For instance, if you cannot get around to making every repair you can hire a handyman to help you out if you get in a bind. Yes, this means you will have to pay money out of your pocket, but over time this is not as bad as you may think. By hiring help you will be able to keep your rental property in good standing without having to spend every waking moment thinking about it.

If you are up to challenge you can most definitely manage rental property as a side job. Before you buy your first property make sure you are aware of the pros and cons, and that you have a backup plan in place in case you get bogged down at your regular job. Once you get started you will have a good feel for what goes into rental property management. What are you waiting for? If this is your dream go for it!

Creative Commons License photo credit: Skaneateles Suites