Whole bunch of Easy Property Management Company Questions

[David Zheng]

Hey guys,

so I've been diving deeper and deeper into property management and had a couple questions. some are opinions and some are factual

1. do you need a license to start a property management company that hires people but ONLY manages properties in your own LLC or under your name?

2. Pros and Cons of starting a property management company (hiring your own manager, secretary, handyman, contractors, etc.) or hiring the work out to a third party? I understand that starting your own means starting from scratch and still having to work/being a boss for a while, but the end goal is that your main manager takes after your spitting image and can do everything for you, so you can boss from the beach.

Obviously starting your own property management company will require you to have like 100+ properties or something high. For me the financials make sense...100 properties at 2000/month rents. 10% is $20,000 a month for a 3rd party. Hire a couple people for 3-5k/month would be cheaper.

am I missing something?

Thanks!