long distance investing: finding a GREAT property manager

Steve RozenbergPro Member

Specialist · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes

think they have a great model of what they do. Not sure if they deviate from that

We are opposite. We only manage not sell. And we do not deviate from ours. Worth a looking into to find out

I know some companies here in Texas tend to do one or the other if they are going to be good at either

I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.

Questions to Ask prospective management companies

What are your average days on market for vacant homes?
What is your average rent amount for all properties managed?
What is your average work order cost for the owner?
What is your average make ready cost for the owner?
Are all my invoices uploaded to my owner portal?
How do you advertise your vacant units?
Do I receive video of my pre and post make ready?
Do you have a setup fee?
Do you upcharge on maintenance?
When do you make owner payments? How often?
Are you a Certified Property Manager?
Are you a member of NARPM?
What is your Guarantee?
Do you provide move in and move out reports
How many pictures do you take of the property prior to tenant moves in and after the tenant moves out
Do you get weekly reports when the property is vacant what prospective tenants are saying about your home
Do you provide monthly newsletters to your tenants
Do you hold investor education classes to help me become a better investor
Do you have single point portfolio based management services?
How many properties do the owners actually own themselves?
What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuits
How familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?

5 Reply

OP

Investor · efrat, israel · Member since 2014 · 93 posts · 20 votes

Wow! I was assuming they wouldn't, though I should ask, if Memphis Invest would manage a property that is not their own. Thank you for the idea.

So, Steve, if I were to want you to manage my rental, can you point me to a zip code/street/neighborhood where you manage? I'll check out the homes and see if they are in my price range.

If not, thank you anyway. Your answer will help me, and I'm sure others as well.

Shoshana Shulman

OP

Investor · efrat, israel · Member since 2014 · 93 posts · 20 votes

Wow! I was assuming they wouldn't, though I should ask, if Memphis Invest would manage a property that is not their own. Thank you for the idea.

So, Steve, if I were to want you to manage my rental, can you point me to a zip code/street/neighborhood where you manage? I'll check out the homes and see if they are in my price range.

If not, thank you anyway. Your answer will help me, and I'm sure others as well.

Shoshana Shulman

Stephen Akindona

Investor · Memphis, TN · Member since 2013 · 741 posts · 845 votes

If your looking for property managers in the Memphis area check out the following contacts! They are all excellent. No manager will be 100% perfect or flawless but these guys are reputable and honest!

@Douglas Skipworth of Crestcore

@Alex Craig of Turnkey Properties

@Derrick Craig of Memphis Buy and Hold

4 Reply

OP

Investor · efrat, israel · Member since 2014 · 93 posts · 20 votes

Thank you, Stephen.

Will Derrick Craig of Memphis Buy and Hold manage a property for me that I didn't buy through the company Memphis Buy and Hold?

I will attempt to contact the above people, after doing a bit of research.

Thanks again.

Shoshana

Stephen Akindona

Investor · Memphis, TN · Member since 2013 · 741 posts · 845 votes

I think so! I know he has helped other investors manage if they were experiencing some issues!

Steve RozenbergPro Member

Specialist · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes

@shoshana shulman

Originally posted by @Shoshana Shulman:

Wow! I was assuming they wouldn't, though I should ask, if Memphis Invest would manage a property that is not their own. Thank you for the idea.

So, Steve, if I were to want you to manage my rental, can you point me to a zip code/street/neighborhood where you manage? I'll check out the homes and see if they are in my price range.

If not, thank you anyway. Your answer will help me, and I'm sure others as well.

Shoshana Shulman

That is a very tough question to answer. In order to create a successful strategy fornyour investing first we need to understand what your goal is. Once we know that we can help with identifying what properties have the strategy to align with reaching that goal.

We manage in Houston, Dallas and FT. worth Texas..

Pick your flavor on what type you want as they are all here. Main goal is to have a conversation to see which is best

Jason Turgeon

Realtor · Boston, MA · Member since 2019 · 244 posts · 275 votes

@Steve Rozenberg, just filled out the contact info form on your website. Let's talk!

1 Reply

Steve RozenbergPro Member

Specialist · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes

@Jason Turgeon

Thanks will have a meeting set up. Look forward to chatting

Cody L.

Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes

Originally posted by @Shoshana Shulman:

I have spent hundreds of enjoyable hours listening to Bigger Pockets podcasts, and the new Money podcasts, and the new Business podcasts, as well as using the B.P. site to learn and delve deeper. BUT....I have not found a way to get a wonderful property manager.

I have used HomePath.com and seen things that look like good deals. I have researched areas in the U.S. that are still affordable, and have decent school systems, employment, low crime, etc.

BUT....I have not bought these long distance properties due to lack of a property manager.

I do have a few local investments, but in order to grow, which I'd like to do, I need help from someone on how to find a property manager.

I have researched Turnkey companies, and found two with good reviews, but the prices on the properties, which tend to be older properties, seem to insulate the Turnkey companies from any risk (eg: they're making $40,000 on the sale to the 'investor') and what's left for the investor is pretty thin.

Are there any managers out there in the following areas who can point me to good zip codes and streets in areas they would be/are already managing????

Jacksonville, Florida

Memphis, Tennessee

Austin/Houston, Texas

I am looking for single family homes in B areas, with decent schools.

I reached out to David Greene asking for his property manager in one of his investment areas, as on a Webinar with Brandon and David it seemed to me that he offered to share this information, but I got no response from him.

Is there anyone out there who could assist me with finding honest, reliable, resourceful, creative property managers in the above areas?

Thank you to anyone who reaches out.

Shoshana

My first two properties I ever bought were single family and in Houston (while I lived in San Diego). They were managed by glen Dickson with Complete Property Service.

Not sure if they’re still around but worth googling. They don’t manage for me anymore but that’s just because I have my own team now managing my stuff

OP

Investor · efrat, israel · Member since 2014 · 93 posts · 20 votes

Congratulations on having your own team!!

Thank you.

Derrick Craig

Memphis, TN · Member since 2013 · 969 posts · 524 votes

@Shoshana Shulman

Yes I will manage a property that was not purchased from my company.

OP

Investor · efrat, israel · Member since 2014 · 93 posts · 20 votes

Hi, Derrick,

That is great to know.

Shoshana