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Updated over 11 years ago on . Most recent reply

User Stats

40
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0
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John D.
  • Investor
  • Woburn, MA
0
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40
Posts

Should I be Creating a Property Managment Company For My Own Units

John D.
  • Investor
  • Woburn, MA
Posted

I own a two family property that I have done all the rehab work on as well as I do all the property management ...fixing everything, lawn care, snow removal (bought a plow truck just for this property).... My wife also owns a condo we rent out that I do all the work on that is inside the unit but have a PM company for the rest of the building.
I am waiting to transfer the title of the property to the LLC I had created.

What if any are the advantages for me to create a PM company of my own for reimbursing me for my time and over head in working on both places AND if I take on any other customers for snow removal or handy man work?

My background and employment is in construction and healthcare so I know ZERO about finance / small business so I'm left to try to make some clarity of the zillions of opinions of people who give advice... BP seems to have a myriad of VERY knowledgeable members on every facet of the business so I'm very appreciative of your advice and comments.

Last related question... my tax guy is a GURU when it comes to my personal stuff... should I be looking for a different guy for my business things even if I only have a single two family under one LLC or does it not matter since I'm the only owner of the LLC?

Thanks JD

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