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Updated about 6 years ago,
Pulse check: growing our rental business
Hi everyone,
Things still building strong here. Thought I'd reach out to get some feedback on where I am at this point..... Any comments/suggestions would be appreciated.
This month we will hit 30 units, following most of the advice from the post cast. Our goal for 2019 is to continue the same growth from this year, and create some relationships with private money partners. I also think it may be time to hire a full-time property manager. How did those of you who did this decide when its time. We eventually want to get to 80-100 units so we can serve many families and build a fully self managing business. Our gross income right now is around 30k/month and our net cash flow right now is around 5k. Of course our goal is to increase our operating income and net cash flow, thereby taking advantage of a growing market and benefiting the community.
2 questions...
1) When do you know it's time to hire an employee?
2) Would anyone be interested in some private chats to provide advise around how I should expand?