Module 7: Closing & Insurance Hacks
SELF-MANAGE VS. HIRE A COMPANY
One decision left that will make or cost you $3,000–$7,000 every single year.
SELF-MANAGE VS. HIRE A COMPANY
Option 1 – Self-Manage (my choice for the first 10 units)
Save 8–10% of gross rent → $2,400–$4,800/yr on a $2,400/mo duplex
Pros: Full control, faster raises, better tenants
Time cost: 3–6 hrs/mo once systems are set (I did it with a full-time W-2)
Tools I used: Zillow Rental Manager (free), My Contractor Contact List (Module 8, Lesson 2), and one handyman.
Option 2 – Hire a Property Manager
Cost: 8–10% of gross rent → $2,400–$4,800/yr on a $2,400/mo duplex + leasing fees (50–100% of one month’s rent)
Pros: Hands-off
Potentially slower communication and lower standards
Makes sense at 10+ units or if you want to save your time.
My exact timeline
Units 1–10 → self-managed (saved over $30k)
Unit 11 → hired the best local manager (now I only answer big-picture questions)
LLC & Liability (quick truth bomb)
One duplex → maybe skip the LLC for now (talk with lender because it could even kill the 5% down)
Potentially get $300k–$500k personal liability + umbrella instead — cheaper and simpler for first unit (You can still claim write offs, but talk with professionals first)
Talk to attorney/lender when you’re ready for unit #2 or #3
ACTION #3 — DECIDE BEFORE CLOSING
Decide today: Self-manage or manager? Write it down
Self Manage: Can save you money to save for your next deal.
If self-managing → set up Zillow Rental Manager account tonight - we will cover more in Module 8.
Property Manager: It’s best to start with a property manager if you are leaning that direction on day 1 instead of day 90.
Get 3 quotes from local Property managers this week.
DISCLAIMER:
Closing and management have risks. Verify everything with licensed professionals.
One decision = thousands in your pocket every year.
Next module: You’re a landlord
Want me with you every step after closing? — unlimited 1:1 until you’re scaled.
See you in Module 8 — rent-free living starts now!