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Updated over 3 years ago on . Most recent reply
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Starting a property management business
Good day to all. I have not been as active on here as I would like, but life happens. Anyway, I am thinking of starting a property management business. You know, lawn care, landscaping, repairs, general contracting, etc. I am skilled in many areas of construction and have many of the tools I would need. I am also currently working on researching the proper licensing from the state of Wisconsin.
My questions are as follows:
1) Would anyone on the BP forums be interested in investing in this startup company?
2) Once established, would anyone else be interested in hiring said startup for their property management needs in Wisconsin?
I will try to answer any questions put to me the best I can. Please remember, this is in the idea phase at the moment and details, such as a business plan, etc , are not in play at the moment.
Thank you.
Most Popular Reply
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I agree with the other opinions here that you are starting a property maintenance business. The distinction is important. Management implies leasing, collecting rents, etc. This is something that is most efficiently and effectively done in a property management business structure that includes a real estate broker. That being said, there is the possibility for a niche like that where a self-managing landlord hires you to do the maintenance but they still want to maintain their own books, etc. You could even partner with PM companies in the area that may be don't want maintenance on staff or have a smaller portfolio that makes it difficult to staff.