All Forum Posts by: Patrick Flanagan

I recommend you join NARPM. There you will meet like minded folks with PM companies also. They are such a wealth of knowledge. You would be doing yourself a disservice if you did not join. Getting out there an meeting others like yourself is key to learning and growing. Good luck and happy investing! 

Hey, Patrick! 

All of this helps! At Grand Welcome, we see the most success through direct mail marketing, in-person networking, digital marketing, and creating relationships with realtors for referrals. Acquiring businesses is always a quick way to build up your portfolio but you might have to resign those units so make sure they aren't so unhappy that they jump ship.

It is easier to scale on the multifamily side. You may not get the same amount of rent per door but the volume will make up for it. There is a great need for good property managers. 

@Patrick Flanagan all of the above, but networking seems to be the best.

I would focus on establishing a professional business. Just because you own a pipe wrench doesn't mean you're a good plumber or that anyone should trust you with their home. Take some classes, read some books, and maybe even join a professional organization like NARPM to accelerate your learning/growth.

Once you are firmly established, you could:

1. Buy existing PM companies that are poorly run and improve them;

2. Market to real estate offices that do not provide PM and offer them a referral fee. They will send you a lot of referrals becuase most agents don't want to touch PM with a 10-foot pole;

3. Standard advertising like a Google page, facebook page, paid ads, etc.

Communication and transparency, there is nothing more I hate than unresolved issues that are not communicated with me. 

I'd become a regular at every REI meetup and REIA in the area you want to work.