All Forum Posts by: Christopher Webb

Welcome to BiggerPockets! Glad to have fellow Kansas City folks on here. I'm a real estate agent with RE/MAX Premier Realty in Prairie Village and also own my own property management company, AEP Management Group. I too hope to begin purchasing some of my own properties in 2015. 

Best wishes and let me know if there is anything I can do to help you out. 

I've got a direct connection with an escrow agent with Alpha Title that does double closings. If you are interested, feel free to PM me and I will send their information. 

Selecting a national bank, or local bank with numerous branches is convenient. I've given the pre-printed deposit tickets to tenants before and it works great. As an additional step of security, you may want to have a specific account set aside for these type of tenant deposits. Just transfer the deposited funds over to your main account shortly after they are deposited. 

Another option would to get your tenants set up on some type of electronic payment system. There are several options to explore in that area. 

You can take classes and read about property management, but it is one of those fields that can't possible all be learned via traditional education. If possible, you may see if any local property management companies would be willing to take you on part time. Getting that real world experience will be huge. Some of the property management certifications actually have a portfolio experience component (IREM.org). I personally love the industry and have managed several different property management offices. If you have any specific questions, feel free to reach out to me. 

Thank you. 

Felicia, there are a ton of resources available on here. The BP community is a great resource. The wealth of knowledge available is endless. Congratulations on taking the first steps in investing in real estate. If you are going to look for a property manager to handle your investments, be sure to interview several different offices. You want to find a office that will meet your needs and expectations and handle business in a manner that you are comfortable with. If you have any questions on how to find a great property manager, feel free to reach out to me. 

Best wishes! 

I too would file small claims suit. It is unfortunate that people like this give property management companies a bad reputation. If required by the state, always be sure that the agency is fully licensed. Also, like you've done, it is important to file complaints with the real estate commission for these type of situations. Hope you are able to recover the money and have a better experience down the road. 

A big thank you to everyone's comments. I guess I would like to start of by clarifying a few things. When I stated I had a little experience in property management, I didn't mean that I had no experience in the industry.

I've worked (a little over a year) for a small property management and investment office and managed their portfolio of approximately 150 single family homes. I handled all the marketing, bookkeeping, accounting, leasing and tenants concerns. Through this, I gained a lot of experience in property investing, management, remodels and even Section 8 compliance.

If you ask most people, experience is what matters most in property management. A person can have all the book knowledge but fail terribly when it comes to actually managing properties. That is not to discredit my education in Real Estate. I obtained a Bachelors degree in Finance through a program that focused and had an emphasis in Real Estate. I've studied commercial investments, urban land development, and both residential and commercial appraisal. Much of my education had real world hands on experience with local companies.

As far as IREM goes, I am actually a student member (or was until about a week ago when my membership lapsed). I plan to rejoin this year as an Associate Member. I am very familiar with the organization, its Certifications and publications. I keep up with industry topics through my association with IREM and through publications from BOMA and NARPM.

I think everyone brings up a good point as well. While I am very much a self-starter and someone who likes to get things done 'my way' I see great benefit in building a career in a larger management company that handles mixed portfolios. I feel that growing a career in a larger management company would provide a lot more opportunities given that same period of time. It would allow opportunities for obtaining professional experience, certifications and designations.

Again, thanks everyone. I am not sure exactly where this all will lead, but I do know that I plan to have a long, successful career in property management ahead of me. I guess now it is just a matter of finding a place to set my roots.

I am fairly new to the world of real estate but have a very strong passion for building a career in the industry. I have a little experience in property management and am very interested in starting a property management business in the Kansas City metro area.

What are everyone's opinions and experiences with property management companies? From my experience, it seems that too many management offices are overwhelmed by paperwork and inefficient process handling. I have some ideas and visions on creating a modern, streamlined business that can provide great value to property owners.

I have tossed this idea around for a couple years and I feel like this is something I need to push forward with. My biggest fear is investing money into building a brand and business without being able to secure management contracts.

What are some ways to break into the property management business? I see myself working with single family homes as well as multi-family of 20 or fewer units.

How does one go about finding property owners? What do property owners look for in management companies? Any and all advice is greatly appreciated!