All Forum Posts by: Rob Boese

@Santiago Araujo

Welcome Santiago! I moved from NYC to Fresno, CA about 5 years ago and have not looked back since. There are so many New Yorker's who participate in real estate here in CA. I think NYC prepares us well with an entrepreneurial spirit and it sets fire with CA real estate.

For me, I've gone from Long Island, to Baltimore, to Long Island, to NYC, to here in Fresno, CA.

You are in good company here!

Unfortunately, the pizza will never be as good..

Hi guys - Thanks for this topic. I was just wondering how this was working for you all.

@Franklin Romine

Frank - I am curious to see how this working for you in our local market

@Eric Espinosa

Hi Eric - As a former New Yorker, I can appreciate the way you feel! I lived on Long Island and the Upper East Side for a few amazing years. Now I'm in a similar position to you in TX, where the real estate here is super affordable here in Central CA, compared to NY.

Let me say that being licensed and being a broker is no means 100% required to participate in real estate. Don't let let that slow you down. Sounds like you will have no problems attracting people who put their trust in you. Learn all you can to repay that trust, and you'll be massively successful in real estate.

Hi Eric - This is a frequent question I get asked from time to time and on BP as well. My short answer is: It can only help. Being as licensed salesperson can help you eliminate or minimize the commission on any given transaction. It gives you access to your local MLS and Realtor board. Where you start to see the biggest value is being a broker. In addition to being able to control most of your own transactions, you will open your field of possible deals as this allows you to openly network with follow brokers and investors in a meaningful way. At least that is how it is here in CA. As a full service broker and "Realtor" (TM) and brokerage house, if you called me and asked for help on any type of real estate deal, big or small, 90% of the time I could say yes, if the transaction were a good one for all involved.

@Dave Visaya

Hi Dave - Thanks for the warm welcome

@Tyrus Shivers

Hi Tyrus - Sounds like you have the right attitude! Property Management is a great field to be in. Make sure you are properly insured and your trust accounting is immaculate. I wish you the best of luck and I'll follow your progress

@Carol Lee I highly encourage you to seek the advise of a local real estate attorney and a local commercial broker. There is no problem being a newbie. We've all been newbies at some point. Use the expertise of local professionals in your area to protect your interests. Do your research on both the attorney and real estate broker to make sure they have a good reputation for dealing fairly. If you use a commercial broker, make sure they represent you alone in the transaction and not both parties (dual agency). 

@Tyrus Shivers

Hi Tyrus - Really for me, getting the systems and people in place. Having the right PM software, hiring people with the right qualifications and experience. Building a great vendor list. Hiring people can be challenging. I am very demanding and expect a high standard of quality in property management. 

I have four people that work in my office. My Controller who along with my VP do financial reporting/owner statements. My VP manages a mix of commercial warehouse, multi-family, and single family along with leasing. My Assistant Property Manager does commercial for the most part and intensive leasing. I have an office administrator who handles front line duties and work orders not issued by the other managers. I have a marketing person that is on a contracted basis but she will join us full-time in about a month. Keep in mind, I also participate heavily in all of the above in addition to business development.

Compliance is a big issue for PM's. All my people carry at minimum, a valid an active CA real estate license. In California, all property managers have need to be licensed. All my people carry licensing so we can all collaborate on leasing, managing and sales as a team as the workflow demands.

I realize there are a lot of PM's that cut corners. We are not one of them. Don't ever be temped to do so and you'll be in good shape. Take great care in the trust placed in you and let your property management experience shine through, especially when things get difficult.

@Leng Thao

Hi Leng! Thanks for the welcome. I'm amongst my people now.

@Charmaine M.

Hi! I had a long reply to you that for some reason, did not post. That gave me time to reconsider what I posted before. 

Ask yourself, why do I want to work at a property management company? What kind of real estate are you most interested in? Make sure you align your goals with that company. 

I've worked for my family's management company, a big juggernaut property management company, and for myself. If you are strictly looking to learn about property management, there are lots of good firms in NYC near you. Do some research about what people are saying about the company online, check out employee reviews on sites like Glassdoor. 

Warning: When property management is going well, there is usually nothing to talk about or review. You will run into good companies with no reviews. 

Check out their websites and connect with the most junior employee you can find and talk with them. Like any good real estate investor, look at the properties they manage, find the owner and call them directly and ask how it is going.

It sounds silly, but find out what management software they use. If it is Yardi or something similar, you may spend your first four months learning only how to use Yardi (stuff of nightmares). Big value if your only goal is work for a property management firm.

If you want to learn a little about property management and real estate in general, find a medium sized real estate investor who has a property management division. That way, you get the most exposure to real estate deals and transactions and you might find that property management is or is not your thing.