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Updated about 10 years ago,
PM Discount for multiple properties?
Good day, and Happy New Year to you all!
My wife and I own 48 units. We are 4-5 years away from "retirement" which for us means doing alot of traveling. We've toyed with the idea of selling, and have even setup a website to sell our units and created a post in the marketplace here:
http://www.biggerpockets.com/forums/517/topics/165...
We have also toyed with a "no exit" exit strategy where we either keep all or most of our units and hand off to a PM or put together our own "psuedo" management team. (i.e. we still do the books, notices, etc. but have trusted boots on the ground). My thought was that we might be able to get a decent discount from a PM for handing over 48 units. Does anyone have any opinions on this? We've worked really hard to get mostly blue and white collar renters, 95% or higher occupancy, and 2-3 pieces of communication per week on average from renters. It really is a low hassle factor portfolio and if I knew we could outsource management for 5%, for example vs. the area's average of 8-10% it would go a long way toward helping us to decide which exit plan to pursue.
Thanks all,