All Forum Posts by: Nicholas Bowers

I have a successful PM company in SF and a CA Broker License - but currently don't do any sales transactions. I rent and really have no desire to purchase in the city because it would be a downgrade of space/neighborhood. I'm also not interested in doing sales - unless it saves me a lot of $$$. I'm considering building a portfolio on single/duplex homes in Oregon where my parents can be my managers - and I am up there 6 times a year.

-Am I screwing myself from any first time homebuyer deals, higher interest rates due to personal vs investing, etc.?
-Should I purchase closer to home so I can be the Broker for my own transactions?
-Even though I'm good at management do I treat this venture as it own as if I have no PM structure - or use my team as if I'm my own client?

Thanks for asking - it would be optimal to do in the Bay Area, but I don't think the housing prices allow for great cash flow. I've been thinking it might be better near the Salem, OR area. My parents live up there, and I'd lean on them to be my eyes/ears. I grew up out there so have a good understanding of the areas to avoid - and make it up there every other month or so.

Thoughts?

Hello - I'm Nicholas in San Francisco. I have a own a successful property management in the Bay Area focusing on multi-family buildings and HOAs. While I have a Broker license, I've don't do any buy/sell transactions. I've joined BP to start building my own portfolio!

Last year I started a Property Management company with buildings in Twin Peaks, Redwood City, and Belmont. Everything is going great, and I'm looking to expand to find more Owners. There are a lot of expensive fixed costs, such as insurance, AppFolio, call center, etc. so the more buildings I have, the better! My thought is to get with other smaller managers and either combine resources to help us both, form a legal partnership, or just take over all the units for someone and pay a one time or ongoing referral fee.

I'm open to suggestions, and looking to get going soon!

@Ariel Smith

Thank you for taking time to reply. I am the property manager. The client is holding the building, and does not want long term tenants. We killed it on HomeAway, but got a C&D from the city. Now we are considering either corporate rentals (for example, to LinkedIN for 1 year, and they can rotate employees as they wish). Another option is for my company to do a master lease, and then sublet to regular people. I believe I can evict them w/o cause at any time.

Client is fairly flexible, and he would rather keep it empty than get in to rent control.

-N

Can someone tell me if this is okay?:

• My PM company (or just me as a person) signs a Master Lease for 1-5 units.
• I sublet each unit (or room) to short term tenants.
• Do they have to leave at the end of their short term, or are they protect by Rent Control?
• If I only pay the owner when I make sub-tenant revenue could the city claim I was trying to avoid rent control laws?
• Is it okay to hold multiple master leases in multiple buildings?

One of our clients has a great building in downtown SF, and we have been thinking of doing corporate rentals. A few question:

• Does my property management company sign a master lease, then sublet to the corporations, or do they sign an original lease?
• Are corporations protected by rent control? How do we avoid them not vacating at the end of the contract?
• If we sign a master lease can he get in trouble if we only pay when we have corporate clients?

Thank you for the advice!

I have 50-100 units ready for me to take over as soon as I pass my Sales Exam this month. I need a Broker per CRBE requirements. I'm looking for a partner that will let me run my own business, while providing oversight, and experience. You do not need to be part of the day-to-day, but we should meet periodically to ensure I'm following regulations. I already have my website, management software, business license, and bank accounts setup.

My experience is in hotel management (guest services, GM, Revenue) with experience in onsite management for my apartment building for 3 years. I've transitioned fully to property management over the last two years, and the company I was with is no longer in business.The clients are following me from a previous company that is no longer in business. The properties are in SF, Belmont, Pacifica, and San Jose, and I already have a great relationship with the owners. Some are long term, others are corporate or Airbnb.

I'm interested in offering % of revenue, flat monthly fee, or equity (with investment).

Let's go!