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Updated almost 5 years ago on . Most recent reply
Any tips on launching a property management company?
Hello my name is Ozzy. I own a contracting company and own a few rental property’s myself. I’ve been thinking about starting a property management company and would like some advice from people more experienced than I am.
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#2 Land & New Construction Contributor
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Oziel Calderon:
Hello my name is Ozzy. I own a contracting company and own a few rental property’s myself. I’ve been thinking about starting a property management company and would like some advice from people more experienced than I am.
I would not recommend getting into the PM business. It's a low margin, high maintenance, high overhead business. The best thing to do is focus on what is making you the most money right now and double down on that. You can grow and scale much faster by focusing on your niche and leveraging professionals to do the day to day. Real wealth is created by leveraging the talents of others.