Property Management Start-up in Kansas City

[Brent Kiger]

Good afternoon BP,

I'm considering starting my own property management company in Kansas City. I currently own and self-manage a medium sized portfolio in KC, and am looking for ways to increase revenue. I came across the property management company idea by having a few investor friends suggest I should start a PM company since I self-manage and know what it takes to manage well. That combined with there being a massive demand for reliable, trustworthy and communicative managers seems to be the perfect storm for entering that market.

I understand the difficulties of property management from my own portfolio and understand its no walk in the park. However, I have always enjoyed navigating those waters and solving problems. My tenants have often mentioned the difficulties they've had with previous managers and I see a pretty big opportunity here. 

I'm looking for anyone else who has been in my similar situation and decided to start their own company to manage not only their own properties, but properties for others as well. Curious to your experience in doing so, and some things to look out for that maybe don't appear quite so obvious.

Curious to the community's thoughts, and thank you in advance. Looking forward to hearing from the group.

Brent

[Brent Kiger]

@Kenny Dahill Thanks for the input. All good points to consider. I appreciate you reaching out. I had not heard of Burbz before, but it looks quite intriguing. The reason I like it is the same reason my firm will do well. I believe there is a shortage of high quality managers and it looks like Burbz helps bring excellent managers to investors who require quality service.

Thanks again for reaching out.