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Updated over 7 years ago on . Most recent reply

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Andy Hughes
  • Investor
  • Elmira, NY
0
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Has anyone started a management company in Central New York?

Andy Hughes
  • Investor
  • Elmira, NY
Posted

I currently have 30 of my own rental units. I have one full time employee as we do mostly "BRRR" strategies with out properties. I am interested in starting a management company and was wondering if anyone in Central or Western New York has done this recently and could give some advice as I start this journey.

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John Hickey
  • Rental Property Investor
  • Chappaqua, NY
947
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1,466
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John Hickey
  • Rental Property Investor
  • Chappaqua, NY
Replied

Andy Hughes great thread. I'll keep an eye on it. I've been contemplating starting a management company myself. I currently manage my own units. I'm about to expand to 40 units. I'm planning on hiring some more help. I have a few part time, but now need FT help.

There is a requirement to have a RE brokers lic in NYS to collect rent as a managing agent for other investors, so far I've only managed my own son no need for that.

I've been in real estate for about 12 years no license. With picking up the additional units I started to think about managing others units to help lower my own costs. Problem is I have no license.

I just recently heard that you can qualify for a brokers lic with 3 years experience as a landlord. Meaning that you could bypass the 2 year agent requirement. I'm planning on looking into that anyone else hear about that?

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