All Forum Posts by: Alex Rehman

oK, you will need to send me a POF( NOT a HM letter ) I know them all out there

Buying PM is just like buying real estate: you want to look for an off-market deal that has been neglected/ignored/abused with a lot of up-side. You clean it up, get their rates up to market, and can increase profitability dramatically.

PM companies listed for sale publicly are probably at market-value with very little meat on the bone. Your best bet is to look for a mom-and-pop operation. I think cold-calling would be the best solution. Find a PM that is tired or stressed and wants out of the game. They often have poor systems in place, their fees are low, and things are a general mess. You buy them for pennies on the dollar, clean them up, and your revenue-per-door goes from $92 to $225 in 1-2 years.

I'm hoping my wife will let me do this once the kids are older. A good PM company can earn hundreds of thousands in pure profit, per year, in perpetuity, without owner involvement. All you have to do is crack the code, then rinse and repeat on each business.

 You want to buy a PM co?? Are you licensed in OH ? What is your budget?? How many properties have you done out there? 

We(real estate team) are in the process of buying a PM company, has 230 ish doors. They also have in house maintenance. They were a few doors down from our real estate team. They randomly brought it up to us. We have been in talks for a few months but finally near the closing table. Used an SBA loan for the business and owner financed the real estate portion. We were not planning on it but it's a great business. The cash flow is great. It is a different beast then buying a property but well worth it. As an agent commissions can be up or down, a PM company is generally consistent.