Real Estate Myth: Being a Landlord is time consuming.

Real Estate Myth: Being a Landlord is time consuming.

Today's myth is that being a landlord is time-consuming. Is this myth true? Welcome to another episode of Myth versus the Truth.

So being a landlord, you purchased your first property or you have many properties, keep in mind it's a business. You're here to make money. So the way you treat a business, you sit down, you run your numbers, you hire the right people, you make sure that you have the delegation power, you make sure that your business is running structurally and everything is nice and smooth. That way it doesn't become overwhelming or consumes your time. So keep that in mind. It's your business and you need to treat it as your business and hire the right people.

Delegation is a very important word you have to have. Now you are a landlord and you say, okay, I'm going to save on this, I'm going to cut in this, I'm going to do it all by myself. It's not going to work because your day has 24 hours like everybody else. You need to have a management company that's dealing straight and direct with that tenant. You have to have the attorneys in place in case you need to evict those tenants. You have to have the people who do the garden, the yard, you have to have trusted people. So then you sit and relax. And after you make your account and you pay everybody else, you see if it is worth it for you to have that business.

So if it's your first property or maybe the 10th or 20th property, regardless, you are in the rental business, you are an investor who is buying rental property. Put the system together, do the number and enjoy being a landlord. You don't have to spend all your time managing this property. Let the control go, hire people. That's the bottom line. That's the message we wanted to give you today. Don't consume your time because of the rental property you have. Hopefully, this information helps you to become a landlord. Thanks for reading. See you on another episode of Myth Versus the Truth.

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