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Updated over 8 years ago, 05/05/2016
Question for you property managers
Hey guys, rookie real estate investor in Tucson looking for some advice on approaching a property management company for an unpaid internship.
I work a low paying job and have limited capital, but my job offers very flexible summer hours. I've all but decided the best move for my real estate future (buy and hold for cash flow) is to seek a mentorship not from a local investor, but a small- to moderate-size business owner in commercial property acquisition/management. I will first ask my real estate agent (who is one of the few key players on my real estate team) for an audience with his company, and ask him for recommendations if they aren't interested. I am currently concerned only with learning: the Tucson real estate market, Arizona-specific contract law, key networking contacts like a CPA and contractor, tenant screening best practices, etc. and am willing to offer no-strings-attached extra help, so I would think this should be an easy sell. But I don't understand the industry to know how easy of a sell it actually is.
First off: what should I seek to learn? What areas should I specifically look to shadow in?
Acquisition? Property Management? The rehab process? Should I just tell him "show me everything you wanted to know when you started"?
What are some red flags I should avoid? As an example, I would be pretty disappointed if he tried to hire me as an agent. I'd rather not spend my summer trying to learn to sell houses, particularly if it means paying for a certification instead of saving money for my next downpayment.
I would be interested in discussing full-time employment down the road if it is a slam-dunk fit. Should I bring this up right away?
Also and more importantly: what value-add would you want for the education? Do I need to commit to a specific number of hours a week or length of internship? Should I bring up tasks I could do that he probably doesn't want to do like licking envelopes or serving notice to vacate posters?
Or would you immediately recognize the free labor and potential partnership down the road?
Looking forward to the guidance. Thanks guys!
- Patrick Allen