Tips on starting a small property management company?

[Jacob Stone]

A family friend owns a handful of rental properties and has been struggling finding a management company he can trust. Long story short my father presented the idea to me of starting my own small time management company, since I am involved I the multi family management industry. I put research in and couldn't come up with much of an idea of what it's like to start a management company, so if someone out there knows the business and could give me the start up costs associated with the business and Amy other helpful information that'd be great. Also I'm located in TX if that is relevant in any way.

[Alex Deacon]

@Jacob Stone Jacob I own a company and we manage about 600 units. Since 2012. As noted in the chain you should check with the board of realtors on the specific requirements and licensing before you start. Then insurances, software etc... etc... The best advice I can give you is be selective on the clients you choose and the types of properties you take on. In the long run just like buying rental properties. Quality is so much better than quantity. You can reach out to me or my Wife who actually runs the company with a staff of 7 people with any questions in the future.

Best of luck to you.