Property Managment Company: Pros and Cons to starting one.

[Caleb Carlson]

Hello All,

I currently own 3 Doors and help a friend manage another 20 more as things come up.  The thought to just start a real estate management company intrigues me for many reasons.  Additional cash flow, opportunity to meet and work with more investors, etc.

Knowing full well, it's a lot of squeezing for not very much juice, especially early on, lots of work, systems needing to be created, headaches of tenants, etc.

Does anyone care to share if they started a property management or reasons they chose to not?  I've heard some pretty good opinions on both sides of the aisle on the podcasts.  Anyone in Minnesota doing this?

[Tim Swierczek]

@Caleb Carlson I do not have any direct involvement as we manage our own properties.  One thing I can tell you that you may already know is that MN law requires you have a Real Estate salesperson license and must work for a broker to manage real estate for a fee.  If you are not already a real estate broker or a salesperson for 2 years this will complicate your startup.  If you want the straight scoop I'd reach out to @Amber Gonion