All Forum Posts by: Brad Larsen

@Steve Rozenberg  We would recommend using Empire Industries.  They are NARPM members, and leaders in the Industry.  Be sure to check them out.  

Sorry to hear about your troubles.  What a bummer you have to put up with that.  I believe every state should have a Property Management license and severely punish PM's who do not abide by the simple services we are supposed to provide.  I would love to see that here in Texas.  All you need here is to be a Broker, or under a Broker to conduct Property Management.  We have been pushing for more licensing to remove the one time realtor / managers from screwing up our industry and profession of choice.  

Good luck out there.

Cash offers being made for Property Management companies in and around Austin, Texas that have a portfolio of 50 to 500 homes.  PM me for more information.

@Pavel Reyes ValdesThis post may help!

https://www.biggerpockets.com/forums/52/topics/385...

Good luck out there!

With ANY Real Estate Investment group - you are going to have to put up with the pitch from some sort of vendor.  That is the deep rooted purpose.  I will, however, point to all of their education could be found on Amazon for near the same price of a $100 ticket.  Certainly NOT worth $25,000 unless they gave you a key to their un-limited low cost funding vault.  But, without that happening - work on finding education at the readily available level. 

Ok - Education is Great.  BUT - BUT - BUT!!!   You have to IMPLEMENT what you learn.  Get out there and DO INVESTMENTS.  Do not read about them and dabble.  You have to get in, make your mistakes, and do it again.  If you break even on a deal, it's an education making you a better and smarter business person.  

If you decide to be a real estate investor, the conferences are only a tool.....you still have to use that ax and start chopping.  

Good luck out there!

@Ben McMahon Ben - We have an HOA section of business, and I will tell you it's very slow and tough to get into as a small player. Essentially, you are pitching your services to a volunteer board of folks managing other people's money. Switching can be so painful, even if you make it super easy for them, that it's just not a high priority in their life.

Two ways to crack in - find the disgruntled HOA boards and whore yourself out to them....or find a developer and get to the neighborhood (HOA) before it's even built.

If you were looking to expand, I would recommend going into the commercial realm.  

The margins, headaches, and liability from HOA's may not be worth it for a small player. If you can someday squeeze 10% to 15% profit margin - you would be doing great. However, managing SFH's right can be double that without being overly dynamic.

Hope this helps! 

@Jon Neviaser  Love the programs.  We have several referral programs like this established.  

AGENTS:  We offer a flat fee of $555 and a return policy guarantee.  http://larsenpropertymanagement.com/agent-referral...

We do offer a broker partnership program like yours, but still gaining traction on that. 

OWNERS:  We have partnered up with a local veterans treatment center called Warriors Heart.  For every owner referral we receive for Property Management services - we donate $500 to the Warriors Heart Foundation.  Check them out:  www.WarriorsHeart.com.   

The site where you can see how this works: www.ReferLarsenProperties.com

Hope this helps!

@Lorna Kaaloa  If you were a licensed real estate agent, as you have to be in Texas, you would need to offer any client a Fair Market Value estimate for the property.  It would be unethical to take a property you know is worth $200k - and talk someone into a sale for less without offering them what the property could be worth.  However, we buy homes from our owners all the time and there is no conflict of interest.  In every case, we have been doing them a huge favor and they are just glad to sell.  We ensure they know all the facts to the home and market and disclose everything in writing.  

Hope this helps!

@Dannielle Hoffman  You guys win the World Series and immediately move South! I do not blame you. Regarding your rental questions on the SATX market, there is a lot to go over.  

To answer all of your questions, it would be a 10 paragraph reply - but I may be able to boil it down in a couple of key phrases.  

One - Find a solid investor property real estate agent you like.  Look at the numbers and don't buy properties because they are "cute".  

Second - Have a Property Management company run the rental numbers for you (not the agent).  The agent may sell you something and run.  The PM company is the one who will be dealing with it....we don't "buy" listings.  "Yes - that duplex will rent for $1,500 (and you never get above $1,100)."

The SATX market is very healthy and can support a lot of steady long term growth.  

For further information or if you need rental comps - find our website and we can do Free Market Estimates for you.

Take care!

@Jeremy Blackowl  Jeremy - Focus is the key and it sounds like you have it.  I was in your shoes years ago leaving the Army from S. Korea.  

Nine top reasons why PM is a great business!

1. It's commission driven not hours based

2. Property management is easily monitored and recordable

3. You can build an asset that can easily be purchased or sold

4. Banks will lend against rent rolls (60%)

5. Property management provides a constant income stream

6. There are no debtors in property management

7. Virtually recession proof

8. The business is a necessity because people need shelter

9. There is room for major improvement in this industry

Recommendations:  

1) Join NARPM  www.NARPM.org.  Join NOW - attend a conference.  Tell EVERYONE there you are newbie and you will find 100 mentors.  

2) Consider working in Property Management for a year or two under another broker.  Do it in stealth mode.  If you tell them you want to learn everything from them and then start your own company to steal food off their plate, no one will hire you.  I would not.  

3) DO NOT BUY A FRANCHISE!!!

4) Maybe look into a Joint Venture with a company / person that you can do management for them while they handle all of the sales.  

5) Bootstrap it.  You can live lean and set up a great looking business without a lot of cash up front. 

How do I know any of this?  I did it all right and wrong with the list above.  But, we have a great business and thankful for it. 

Should you want to connect with me off-line - hit me up via PM.  Take care!