--- title: How to Successfully Manage a Growing Real Estate Investment Portfolio description: The good news is your real estate portfolio is growing; the bad news is the amount of time you have is not. Here's how to successfully manage a growing real estate investment portfolio! image: https://www.jmzmanagement.com/hubfs/Blog/Growing%20Investment%20Portfolio.jpg --- - [![fb](https://www.jmzmanagement.com/hubfs/fb.svg) ](https://www.facebook.com/people/JMZ-Management/61583225726428/) - [![x](https://www.jmzmanagement.com/hubfs/x.svg) ](https://twitter.com/JmzManagement) - [![linkedin](https://www.jmzmanagement.com/hubfs/linkedin.svg) ](https://www.linkedin.com/company/jmz-management) [248-284-6990 ](tel:+12482846990) Login - [![Property Owner](https://www.jmzmanagement.com/hubfs/JMZ%20Website%202025/Icons/Property%20Owner.svg) Owner Portal Login ](https://jmzmanagement.appfolio.com/oportal/users/log_in) - [![Tenant](https://www.jmzmanagement.com/hubfs/JMZ%20Website%202025/Icons/Tenant.svg) Tenant Portal Login ](https://jmzmanagement.appfolio.com/connect) [![JMZ-Logo-Final-Black-BG-01](https://www.jmzmanagement.com/hubfs/JMZ%20Website%202025/JMZ-Logo-Final-Black-BG-01.svg "JMZ-Logo-Final-Black-BG-01")](https://jmzmanagement.com) ** - 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[![x](https://www.jmzmanagement.com/hubfs/x.svg) ](https://twitter.com/JmzManagement) - [![linkedin](https://www.jmzmanagement.com/hubfs/linkedin.svg) ](https://www.linkedin.com/company/jmz-management) 248-284-6990 ![Customer Support](https://www.jmzmanagement.com/hubfs/Customer%20Support.svg) ### Customer Support [Learn About Customer Support ](https://www.jmzmanagement.com/support) ![Free Rental Analysis](https://www.jmzmanagement.com/hubfs/Free%20Rental%20Analysis.svg) ### Free Rental Analysis [Get Your Free Rental Analysis ](https://www.jmzmanagement.com/freerentalanalysis) ![Blog-Banner](https://www.jmzmanagement.com/hs-fs/hubfs/JMZ%202018/all-banner-images/Blog-Banner.jpg?width=2000&name=Blog-Banner.jpg "Blog-Banner") November 14, 2019 - [![Facebook](https://www.jmzmanagement.com/hubfs/JMZ%202018/Blog/Facebook_Icon.png) ](http://www.facebook.com/sharer.php?u=https://www.jmzmanagement.com/jmz-blog/how-to-successfully-manage-a-growing-real-estate-investment-portfolio) - [![Twitter](https://www.jmzmanagement.com/hubfs/JMZ%202018/Blog/Twitter_Icon.png) ](https://twitter.com/intent/tweet?url=https://www.jmzmanagement.com/jmz-blog/how-to-successfully-manage-a-growing-real-estate-investment-portfolio) - [![Linkedin](https://www.jmzmanagement.com/hubfs/JMZ%202018/Blog/Linkedin_Icon.png) ](http://www.linkedin.com/shareArticle?mini=true&url=https://www.jmzmanagement.com/jmz-blog/how-to-successfully-manage-a-growing-real-estate-investment-portfolio) # [How to Successfully Manage a Growing Real Estate Investment Portfolio](https://www.jmzmanagement.com/jmz-blog/how-to-successfully-manage-a-growing-real-estate-investment-portfolio) If your real estate investment business is starting to feel like a circus, it may be because you're spinning too many plates. In a way, it's good to be busy: it means you are preoccupied with managing your income, and that should be celebrated. On the other hand, no matter how smart or hard-working you are, your mind and body are finite resources; you can only juggle so much. If you're not there yet, but you're in the process of growing your portfolio, you should plan now for when things *really* start to pick up! Here are some tips to help you manage a growing [real estate investment](https://www.businessinsider.com/how-to-invest-in-real-estate-make-money) portfolio. By shifting your mindset and taking some simple steps, you can avoid the three-ring circus and manage a smooth operation. ![Growing Investment Portfolio](https://www.jmzmanagement.com/hs-fs/hubfs/Blog/Growing%20Investment%20Portfolio.jpg?width=600&name=Growing%20Investment%20Portfolio.jpg) ## Go from Juggler to Ringmaster: Understand Opportunity Costs If you already have a portfolio that's earning money, you have at least an experiential understanding of opportunity costs. These are the costs you incur from not doing something that could be making you money. For example, perhaps you've had to reschedule a business appointment because you had to handle an issue with a tenant. At some point, you may have thought, "Wow, I can't believe I'm doing this when I could be out making money." That's the opportunity cost. Some Richmond property owners, particularly those with growing portfolios, think opportunity costs don't exist for a real estate investor in Richmond. They feel everything they do is a wise expenditure of time because it helps manage the business. While the [dedication and work ethic](https://www.psychologytoday.com/intl/blog/wander-woman/201602/is-your-dedication-keeping-you-stuck) behind this mindset is admirable, they are also expensive. Every minute you spend trying to quash problems, put out fires, or answer texts from tenants* could* be spent adding to your portfolio. ## The Challenge Inherent in a Growing Portfolio The famous sage and poet—the late Christopher Wallace—mused, "More money, more problems." A real estate investor understands this truism first hand. Each new property you have to manage results in an exponential increase in the amount of work you have to do. The growth of the work is* literally* exponential because each new property often comes with multiple tenants. While the money you earn has a pretty, parabolic curve, so do the potential challenges that come with each new tenant. ## The Solution: Hire a Property Management Company The only way to acquire more hands to juggle and more feet to wheel around is to hire people who do it for a living: property managers. The business of managing properties is something that is mastered over time. A **property management company in Richmond** has taken the time to figure it out, get it right, and replicate the success. Consider this example of how** a** **property management company can help you manage a growing real estate portfolio**: You have a lunch meeting with a wholesaler, Suzy, in Richmond at 12:30. Suzy is dependable; she always has something that's at least worth considering. You have a new tenant from a deal you closed about a month ago. He's in New Baltimore. He calls saying the refrigerator just broke down, and he's prepping for a big family dinner tomorrow. Without the fridge, dinner is going to be ruined. You then get a text from a long-time tenant in Mount Clemens named Ruben. He's saying the water heater's not working. He texts two more times, describing the problem in more detail. Your repair guy, Tom, can only be in one place at a time. It's now 12:43, and you're pulled over on the side of the road, reading the stream of texts coming from Ruben. You're halfway to Richmond to meet with Suzy. What do you do? Where do you send Tom: New Baltimore or Mount Clemens? More importantly, [where do you send yourself?](https://www.jmzmanagement.com/jmz-blog/dos-and-donts-for-new-landlords) With a** local property management company**, your phone **doesn't even go off. **The company handles those details for you: the only decision you have to make is whether to get the rib eye or the porterhouse. With a property management company, you also have the leeway to decide when to be alerted about issues. If you want to be consulted about a busted fridge or water heater, you can opt for that—if not, no problem. ![Money Growth Investment Property](https://www.jmzmanagement.com/hs-fs/hubfs/Blog/Money%20Growth%20-%20Investment%20Property.jpg?width=600&name=Money%20Growth%20-%20Investment%20Property.jpg) ## Their Focus Should Be Your Focus: Maximizing ROI A [property management company](https://www.jmzmanagement.com/jmz-blog/an-expert-property-manager-in-the-detroit-metro-is-more-affordable-than-you-think) with years of experience in maximizing ROI on extensive portfolios can be a powerful partner. Experience is the best teacher! An experienced property management company has the knowledge and wisdom to make sure you get a strong return on your two most important investments: your money and your time. When it comes to managing a growing real estate portfolio, you don't have time to clown around! The Richmond MI area is still booming with opportunity. With a **property management company that serves Richmond**, you can stop juggling and focus on running the show. With this freedom in mind, JMZ Management put together our free guide, "Real Estate Investing: Grow Your Portfolio," so you can get back to being the ringleader sooner. [![](https://no-cache.hubspot.com/cta/default/4566933/interactive-166098402196.png) ](https://www.jmzmanagement.com/hs/cta/wi/redirect?encryptedPayload=AVxigLK7GJvKiX5I%2Fipy4vPYf0iiCFsK1y50hb9oADlr5P0DKy5LOs%2FVLq%2FHgbI0zgo1%2FUpUYimVLurziXFM8LbmgkUmGneU0OpwVMIukfy4NfZYWTo8s88uNrH2kuFrdIUS9Yd2KqGdByufdiTt0fSmIFuX%2F%2FinPcb%2F%2Bgr1NF05sNhiRcAkIRfmabBfjnaMInnmN4lNkUKfrpHNEIKNdp5BNKyEi%2BdlZimeCUy7&webInteractiveContentId=166098402196&portalId=4566933)   Topics: [property management](https://www.jmzmanagement.com/jmz-blog/topic/property-management), [Real Estate](https://www.jmzmanagement.com/jmz-blog/topic/real-estate), [Investment Portfolio](https://www.jmzmanagement.com/jmz-blog/topic/investment-portfolio) ## Posts You Might Like ### Related posts [Experience Elevated Living at Z on Coolidge](https://www.jmzmanagement.com/jmz-blog/modern-apartments-for-rent-at-z-on-coolidge) ![Experience Elevated Living at Z on Coolidge](https://www.jmzmanagement.com/hubfs/Living-Room.webp) [What Is the Role of Novi Multi Family Property Management?](https://www.jmzmanagement.com/jmz-blog/what-is-the-role-of-novi-multi-family-property-management) ![What Is the Role of Novi Multi Family Property Management?](https://www.jmzmanagement.com/hubfs/Paper%20chain%20family%20protected%20in%20cupped%20hands.jpg) [How to Invest in Novi Multi-Family Real Estate: 6 Top Tips to Pad Your Portfolio!](https://www.jmzmanagement.com/jmz-blog/how-to-invest-in-novi-multi-family-real-estate-6-top-tips-to-pad-your-portfolio) ![How to Invest in Novi Multi-Family Real Estate: 6 Top Tips to Pad Your Portfolio!](https://www.jmzmanagement.com/hubfs/condo.jpg) [7 Tips for Improving Your Occupancy Rate as a Property Investor in Detroit](https://www.jmzmanagement.com/jmz-blog/7-tips-for-improving-your-occupancy-rate-as-a-property-investor-in-detroit) ![7 Tips for Improving Your Occupancy Rate as a Property Investor in Detroit](https://www.jmzmanagement.com/hubfs/waving%20agent.jpg) [Which Real Estate Partners Do Ann Arbor Investors Need to Grow Their Wealth?](https://www.jmzmanagement.com/jmz-blog/which-real-estate-partners-do-ann-arbor-investors-need-to-grow-their-wealth) ![Which Real Estate Partners Do Ann Arbor Investors Need to Grow Their Wealth?](https://www.jmzmanagement.com/hubfs/Blog/Property%20Management%20Company%20Partner.jpg) [Best Property Management for Dearborn](https://www.jmzmanagement.com/jmz-blog/best-property-management-for-dearborn) [Why Summer Is the Best Time to Rent Out Your Property in Michigan](https://www.jmzmanagement.com/jmz-blog/why-summer-is-the-best-time-to-rent-out-your-property) [Signs It’s Time to Hire a Property Management Company](https://www.jmzmanagement.com/jmz-blog/signs-its-time-to-hire-a-property-management-company) [How Landlords Can Boost Summer Leasing Success in Michigan](https://www.jmzmanagement.com/jmz-blog/how-landlords-can-boost-summer-leasing-success) [![logo](https://www.jmzmanagement.com/hubfs/logo.svg "logo")](https://jmzmanagement.com) 40020 Twelve Mile Rd, Novi, MI 48377, USA [248-284-6990 ](tel:+12482846990) - - - ### Residents - [Resident Portal Login](https://www.jmzmanagement.com/residents-portal-page) - [Resident Resources](https://www.jmzmanagement.com/resident-resources) - [Available Homes](https://www.jmzmanagement.com/search-available-homes) - [How to Apply](https://www.jmzmanagement.com/how-to-apply) ### Owners - [Owner Portal Login](https://www.jmzmanagement.com/owner-portal-login) - [Owner Resources](https://www.jmzmanagement.com/owner-resources) - [Owner FAQs](https://www.jmzmanagement.com/rental-owner-faq) - [Pricing](https://www.jmzmanagement.com/pricing-page) ### Company - [About Us](https://www.jmzmanagement.com/about-page) - [Testimonials](https://www.jmzmanagement.com/testimonials) - [Blog](https://www.jmzmanagement.com/jmz-blog) - [Contact Us](https://www.jmzmanagement.com/contact-page) #### Subscribe to Our Blog Subscribe to receive real estate investing best practices and news. 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