This is Real State Rookie episode 296.

The property management company owned their maintenance company.

You don't want it spend time trying to call four different plumbers to get a quote on how to replace a wax seal.

But when we did search for other prices, the property managers' rates were typically more expensive.

Because you got to think too right, if they're only charging you 100 bucks per unit, that's not a significant amount of money.

That's because you're so used to the short-term rental.

That's right, he's totally like 30%.

My name is Ashley Care and I'm here with my co-host, Tony Robinson.

And welcome to the Real State Rookie podcast where every week,

twice a week, we're bringing you the inspiration, motivation, and stories you need to hear to kick start your investing journey.

And we are back today with another Rookie reply episode.

We're going to be answering four questions from folks that are part of our Rookie audience.

And look, guys, if you want to get one of your questions answered, head over to biggerpockets.com for its slash reply.

And us and our team will see those questions there and we'll pick out the good ones to share on the show here.

And I go on to a tangent about property management fees and things you need to know about how much you could actually end up paying for property management.

Just because the fee is 8%, 10%, that usually does not mean that that's what you're going to be paying in property management.

So very important when you're doing that deal analysis that you're actually reporting more than whatever the percentage is because there's always going to be these other fees that are baked in.

Yeah, we're also going to talk about what a balloon payment is and how you can strategically use that within your real estate investing strategy.

We talk about how to ensure property when it's in the rehab phase.

And we talk a little bit about buying pre-foreclosures, which honestly, some people make their entire real estate portfolio based strictly on that strategy of buying pre-foreclosure.

So lots of really good information in today's episode.

But before we get into the questions, I just want to give a shout out to someone that left us a 5 star review and Apple podcast.

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