Residential Property Management

Residential Property Management

Property Manager · Member since 2019 · 2 posts · 2 votes

I am new to this platform and seems there are a lot of knowledgeable professionals willing to share information and business strategies. I am 27 and I currently have 5 rental properties that I own and manage and do most maintenance myself. I've been managing them for about 2 years now through my LLC. and I have had enough success where I am confident I can do this for others and provide a great service. My mom, aunt and uncle are all real estate Brokers. My uncle has about 50 properties that he owns and manages and I have another uncle who has commercial properties that he owns and manages for a living. My mother in law also runs a Title company. I feel I have a lot of great close contacts to make my business work and I have learned a lot from just growing up and listening to them do business. Interesting in any marketing advice that anyone on here would have for me to get my name out there and how I can convince People to trust me to manage their properties or any other advice related to starting a property management company. Like I said I already have the experience and am great at getting renters, signing lease agreements, handling maintenance issues, filing evictions etc. I just need investors. I'm Located in Shreveport, LA

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  • Real Estate Agent · Westlake, OH · Member since 2016 · 121 posts · 31 votes
    7y

    Hi @Reis Beecher,

    Great job so far acquiring properties and making it work!

    The first question I would ask is that, whether or not you have to be a licensed agent working for a broker in Louisiana in order to manage property legally.  If so, then work on getting licensed and if it makes sense, be an agent at a family brokerage.

    The other nugget of experience I would share is that you should try to systematize as much as you can.  When you are managing property for others, it is a greater responsibility.  If you can get the system down, that will keep your head from exploding.  One of the pieces of our system includes the hiring of a part-time bookkeeper to keep the ledgers straight in our Buildium property management software.  That will free you up from having to worry about keeping good accounting and be able to focus on getting more business. 

    I have lots of other thoughts but don't have time right now to finish this response in full, but try to figure out what type of property you want to manage and in what areas.  

    And build a good team!

    Call me if you want to talk :)

    Peace! 

  • Rental Property Investor · Austin, TX · Member since 2015 · 280 posts · 176 votes
    7y

    @Reis Beecher I invest in Bossier and in order to be a property manager for others, you will need to be a licensed sales agent and work under a broker who will allow you to manage properties for others. You may wish to start with asking the Gosslee team for advice because they manage properties in the area. Sounds like you are competent enough - just need to make sure legal enough as well. 

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