New Member with big apartment dreams..

[Brenton Tigner Jr]

Greetings all, 

 I am a new member to BP, former Naval officer living in the Atlanta area. My long term goals are to buy and hold commercial multi-family dwellings. I am being given an open door invite to shadow a property manager of two 100+ unit apartment complexes indefinitely. I am curious to know if you think this is a good idea to learn about the inner workings of this type of investment and what are some of the main questions/areas of focus that I should direct added focus to learning.. Thanks and I look forward to networking and meeting everyone...

Hungry Newbie

[Ryan Cox]

@Brenton Tigner Jr Absolutely, you would want to learn this side of the business to be informed about the multifamily investments.  Having knowledge about the property management will empower you later in your career to be able to effectively manage the property management team as an asset manager when you are an owner/investor. Without knowing about the property or the property manager - Here are a few questions to get your wheels turning

Does the property manager manage lease up/renewals/marketing, etc.?  How do they do it?

Does the property manager handle all of the maintenance?  Common areas? Units?  

Is either property going through renovation?   Capital Improvements? (Roof, parking lot, major rehab)  Is either property going through a value add improvements to the units?

Do they provide construction services?

How do they manage rent collection? vendors? contractors?  suppliers? etc.

How do they work with the owners? How do they communicate?

How do they hire staff?