Real Estate Property Management

[Alejandro Valbuena]

Hey Everyone! 

I have been thinking of the pros and cons of becoming a property manager. First of all, what are the necessary skills to become a successful property manager? How can a college student like myself jump start his career as a property manager? What are the pros and cons of being a full-time property manager? Is that a field worth pursuing in the Real Estate field?

Looking forward to the responses!

[Lucas Miles]

@Alejandro Valbuena Property management is an absolute critical component in real estate, but is extremely labor intensive and with relatively low pay in relation to the duties/responsibilities performed. Starting a property management company just to manage other people's properties? --> No way, not worth your effort or return on your time. The majority of property management companies are formed by rental property owners to manage the properties they own, then it might make sense to start managing for other people as you already have the systems, staffing, etc in place. Owning real estate is where the benefits come from, cash-flow, appreciation, debt payment, tax benefits, etc. Being a "property manager" for properties that you own is a common place to start, often as you grow turn your properties over to a property management company once you have better use for your time.