My Journey from College to Property Management

Roughly 1 year ago today, I was a college student looking to dive headfirst into real estate. My goal was to become a property owner. I had been listening to the bigger pockets podcast, and I became hooked. I would listen to episodes of the show morning, noon and night. I took advantage of bigger pockets in the way it was meant to be. I connected with a local investor and reached out. We set up a meeting, and a bigger vision grew. I knew that I had much to learn about the business of real estate. As someone who couldn’t yet drink a beer legally, I needed to connect with some people with more experience. My mentors were able to show me many of the things I could never have imagined as a real estate investor. However, I have also seen the great opportunities that real estate can offer.

When I first came into the office of Property Revival Realty, I was convinced I would walk out as a potential partner on a future real estate deal. Rather, I walked out of that office with the job of running a small property management company and growing it to its fullest potential. When I took over as the lead property manager, we had managed 9 units. As of March, 2018 we became Wisconsin Property Managers. Our goal was to grow and manage units in Janesville and Beloit, Wisconsin. We would provide total property management services to our clients, while helping them increase their rate of return to levels they had not seen before.

My personal goal throughout this process was to learn about real estate investing from my mentors, while also understanding the day to day operations of taking excellent care of our current properties. I was hungry to learn and eager to grow. We have had numerous big deals within our first year, and we work with people from across the world. This position has afforded me the opportunity to work with, and learn from some very successful real estate investors. Many of our clients have never set foot in Janesville, WI. However, with our ability to work with them on the managing and purchasing end, we have had some great successes.

Some of our most recent successes are as followed:

In June of 2018 we took over our first apartment building. This 30 unit building was sitting at 70% occupancy and was cash flowing at roughly $11,250 monthly prior to expenses in our first month on the job. Within 3 months, we were able to fully tenant the building and bring its gross income to $15,900 in 1 month. This property was our first multiplex, and it became one of our happiest clients because of the turnaround we initiated.

In September of 2018, we were contacted by a buyer located out of Salt Lake City Utah. He had never been to Wisconsin, let alone Janesville. He reached out to our broker and aimed to purchase a high cash flowing property in Southern Wisconsin. So, we worked tirelessly to find a deal for him. After roughly a month of searching, we found him a 4-plex on the south side of the city. The building was very worn down, and the previous landlord had put little to no effort into the unit. He purchased the building for $102,000 near the end of September, and the building now earns him over 20% annually. While this building needed some work, the owner was able to make the necessary fixes to get this building into proper shape.

Wisconsin Property Managers has been on a tear as of late. We are now managing 78 units, with a package of 19 coming on later this month. We have also just taken over a 7-unit building, and we have a 15 unit apartment building under construction as well. These additions will take us well over 100 units and we continually aim to grow even more. We have enjoyed this journey to this point, and we cannot wait to get involved with even more investors on this real estate journey. We aim to help those around us find good deals and grow their passive income from wherever they choose to live. If you have any questions, or would like to learn more about Wisconsin Property Managers, feel free to message me! Otherwise, you can email me at [email protected] ! Best of luck on your journey, we hope to interact with you soon!