Cant remember what it was..............

[Bozigian]

Hello fastlane members.

A while back I was in the bookstore and went looking through some finance magazines and then I looked on a real estate magazine.

I remember I kept looking at this ad or company in which homes were displayed and it said get your monthly income.

Basically, this company says you give them money to buy the home and they will take care of property management and everything and you collect monthly income.

I do not know if I am sounding far fetched but is this called? And does anyone do it?

 

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[IceCreamKid]

Many people do this using limited partnerships. Correct me if I'm wrong, but I believe the general partner is the one who accepts the money and takes care of the property management while the limited partner is the one giving the money to collect monthly income.

 

[Runum]

Be very careful. This is becoming a real hot area of REI right now. Consider all the possible things to go wrong as well as right.

If you buy a turn key investment SFH a 1000 miles away and the PM doesn't do his job right or just quits, what will you do? Andviv needs to chime in here. He has experience with long distance PM's.

 

[Bozigian]

I also figured what would happen if the property manager died?

 

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[Runum]

If this is an area that interests you, you might consider a large partnership or a REIT.

 

[Rickson9]

It's likely a limited partnership.

The individuals who engage in LPs generally have no interest or skill at investing.

If the PM dies, you get another.

Best regards