How to Create a Property Management Company?

[Vic Wong]

Does anyone have any advice on how to start a property management company? One of my family friends is having trouble dealing with property managers for his multifamily and told me it is a good plan to start a property management company. So I guess I already have a client with about ~ 15 units to start.

Any good reading material. I am looking around the forums here to start and also look into getting my real estate license. 

[Peter Tverdov]

I created one 3 years ago because I wanted to make more money. I realized I was really good at it and have slowly built it up on the side in addition to my day job. You will need to know what the laws are for your state in order to be licensed properly (some states don't require a license).

Then a lot of it is trial and error and building the proper organizational skills, proper vendors, etc. You learn every day. You are under appreciated by the owners and have to act like a psychologist at times for tenants. If you don't set boundaries and rules people will run you right over.

I wish there was a forum on here for property managers that work for clients. I have asked @Mindy Jensen to speak to @Brandon Turner and the other people that run this site and have gotten unfavorable feedback. A lot of questions out there on BP for that niche and no forum to discuss it where others could learn.