Starting a property management company

[Adam M.]

Hey guys,

I'm currently writing a business plan and thinking about for starting a property management company. My market is a very popular ski resort county in colorado. There are tons of vacation rental/short term rentals in the area. I've done my research and property management company's charge around 40%/night it is rented for short term rentals. Long term rentals is around 10%/month with one months rent for new tenants turnover with a lease.

I know the market here and have a lot of connections with the locals. I've lived here on and off for the last 8 years..... My full time experience is running and operating a RE investing business (rehabs, wholesaling, rentals) in Nashville TN. My wife and i sold everything in nashville and we live in CO full time now.

I have a ton of ideas on how to market and get properties to manage, i've never ran a full time RE management company. What do you guys think? Any advice for a newbie in this venture?? Thanks!