Getting Started W/ Property Management

[Kenneth Meacham]

Good afternoon! 

My name is Randy and I've been a biggerPockets follower and member for quite some time now. Like many of you, owning Real Estate is part of my plan for long term wealth creation, but I've been stuck in a rut of just pure knowledge consumption for the last 3 years without any real moves. 

My wife and I are finally in the position to get our first Rental! It's been an unintentional 'live and flip' that we bought with an FHA loan as our primary residence. We just refinanced the house to get off the PMI and it is now a very good potential cash flowing property that we know like the back of our hand (we've had to fix virtually everything). We're looking to buy another house now as a primary and convert this to a rental.

I am also helping my mother-in-law find and invest in a duplex/triplex as she's sitting on capital that should be put to work for her.

With that being said, I've also had the ambition to start my own business for quite some time, and I've finally found the idea of starting a local Property Management company. I've already completed a market analysis and began the business plan, and I hope to have it all complete to put the processes into place when we convert or primary home into the rental property. 

Excited to finally make the plunge and will definitely be using the BP recourses provided to help along the way. 

Will be updating here with the journey of our properties and the Property Management company. 

Lets get after it!