Brrr multi family property managers

[Saj Johnson]

Hi, can someone recommend a property management company that works with multi family 8-15+ units. I’m particularly interested to see if any out there that would assist with the BRRR method of purchasing all cash for a discount and then value add, place tenants and refinance. I’m in NY, and it is almost impossible to find something where the numbers work due to the high prices and tax. So Im looking out of state where I would see better ROI. Any other suggestions welcomed as well. Thanks

[Neil Schoepp]

@Saj Johnson

Congrats you accomplished the first step on your road to wealth creation.

1. Pick a strategy and type of property----Check

Now continue on the journey

2. Pick a market 

        I found this to be one of the harder things to do.  Start with where you grew up, where you have family and friends, where you once worked. Where the wife grew up etc. This will lead to "inside information"  boots on the ground insight. What blocks or areas to stay away, natural barriers that block the path of progress (large roadways, rivers, tracks etc.) Once you have the area run the numbers on that market. Bestplaces.org is a good starting point. 

A. Look for 2% job growth

B. Household growth year over year

C. Diverse employment. Diverse employment is by both sector and Job so in Detroit you had a bunch of different           jobs but they were all tied to one sector. Same thing in Houston back in the eighties. 

D. Business minded (friendly) Government.  The local government policies will either attract or deter business.              Business brings population, population brings you clients. For every 1 white collar job created there are 3 blue          collar jobs created.

3. Reach out to other investors in that market and start networking ---Nothing like first hand knowledge AND future help       when you run into something.

4. Start building your team-----Contact brokers and property managers start building re pore with them. 

5. Landlord friendly Jurisdiction Some states evictions take 30-45 days others take years.

If you are really set on Value Add Multifamily I would suggest searching for and reading everything by a fellow BPer and investor Gino Barbara he helped me greatly when I was just starting and has continued to add value to my endeavor each and every day. 

Anything else I can help with please just reach out.