start or buy a STR management company

[Tae Nam]

I own and manage a few STRs. I invest in a market where many newbie investors jumped in, thinking they can self-manage and not doing too well or realizing it is a lot more work than they thought. 

What is your thought on starting or purchasing an existing STR management company?

[Alice Horn]

Quote from @Tae Nam:

I own and manage a few STRs. I invest in a market where many newbie investors jumped in, thinking they can self-manage and not doing too well or realizing it is a lot more work than they thought. 

What is your thought on starting or purchasing an existing STR management company?

A good place to start would be the local chapter of VRMA, or any other vacation rental associations in your area. You can meet other PMs who may share their experience or even a company willing to sell. If you do buy a company, don’t buy their “bad habits”. Be willing to retool their processes. It may be better to build a team and start from the ground up.