Investors often fall into two types: hands-on do-it-yourselfers and hands-off managers who prefer to delegate tasks.
Hands-on investors typically manage their own properties, but laws (especially in places like California) have made this harder and riskier over time.
Hands-off investors focus on whether a property makes money after paying others to manage and repair it; if it doesn’t, it’s not a good deal for them.
Many investors feel they must be involved in day-to-day property management, but owning a property can be like owning a business without doing the daily work yourself.
Emotional attachment to properties can cause investors to hold onto bad or problematic properties instead of upgrading to better ones, due to familiarity and fear of the unknown.
Smart investing means regularly reviewing your portfolio and considering if switching properties could reduce hassle and improve returns, working more as a manager than a hands-on fixer.
