All Forum Posts by: Brad Larsen

Join the National Association of Residential Property Managers.  (NARPM)

Go to:  NARPM.org

Good luck!

@Matthew Hamilton  Property Management combined with Real Estate Sales is a great way to work in residential real estate.  They all circle around each other in numerous ways.  Here are 9 ways why property management is a GREAT business.  

Nine top reasons why PM is a great business!

1. It's commission driven not hoursbased

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

When / If you move to South Carolina - consider seeking out a big Property Management company and start working for them.  This can grow into something great for you.

Good luck out there!

Yes - on the note above - but when you have to overpay for a home in Austin to use as an investment - it basically defeats the purpose.  In a hot market like ATX you would have to be ninja like ready to jump all over a new home as it comes up and be ready to overpay and get into a bidding war. Yes, there are exceptions.....but I would still prefer the "Bonds" approach of San Antonio.

Another thing to look at....Austin is now becoming the Techie capital of the midwest....which is cool.....but we have seen that bubble shift and burst before.  

San Antonio is Military City, USA.  This veteran is proud to call it home and would not live anywhere else.  When was the last time you saw a military bubble burst in a market with 3 major installations and ever growing?  Answer:  Never.  

Good luck out there!

@Matthew Hamilton  Hey Matt - you gotta take some risks in life to get what you want.  You are young, have your health, make a change.  

After leaving the military from South Korea (not stateside where I could job search and network), I moved to San Antonio not knowing anyone to get into real estate as an agent.  I lived in a hotel for 6 months and eventually started making a living selling homes then getting into Property Management.  Years later, I have a very successful business and life is great.  

My point being, if I can do it - you can do it.  Be aggressive and make a major change - NOW.

@Raluca G.  Great points made by Adam above.  This notion of "turn key" is been a buzz word flying around for a while and it would need some clear defining.  

Another example to consider is "turn key" in a sense. We come across "Package Deals" all the time where reluctant landlords get fed up, need to free their VA loan, have a death in the family....whatever....and they decide it's time to sell NOW!

This "Package Deal" is turn key in my eyes as we can then offer an investor:

1) A home at below retail value with a reduced commission.

2) A current lease agreement and tenant that we screened and placed into the home.

3) Accurate figures for what the home is renting for NOW - and possibilities for improvements to the rental value later on. (Not we think we can rent for "x" numbers)

4) Continued Property Management services with little interruption to the tenant (maybe 1 or 2 inspections prior to closing).

My suggestion is to come up with your formula for what type of home you are looking at - or decide the types of Cash Flow numbers would appeal to you - and start asking around to Property Management companies either here or another market if they have those types of homes.  

The "Package Deal" could be a great way for you to find that Turn Key investment.  

Take care!

@David Zhu

David - check out this recent post of mine.  It may assist you.

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

Take Care!

@Gonz Trevino @Mark Mosch @Robb R. @Rachel Trimble

Hello All!  We have developed the "BP Rate" with our Multiple Property Owner program.  Essentially, we offer advertised and bottom line pricing for anyone that works with us having 4 or more units.  

When I say advertised - it fits into our full disclosure concept.  The companies that will offer you the "It Depends" answer on what they charge for management are trying to sneak whatever they can in front of you to get you to agree.  

We feel our Multiple Property Owner Program is a better way to offer investor's a bottom line pricing model that makes our relationship a win/won.  

This reply was not meant to be an ad - but more along the lines of a warning for the investor looking at a management company with several units and getting the "custom" proposal.  Today's investor wants to know all the information up front - so we provide it.

It makes you wonder about all the investors who have managers charging them the same for their 5 or 6 homes as they would the one reluctant landlord with 1 home!?!?! 

Take care out there! 

@Gabriel Esparza   Looks interesting.  I own an investment home in College Park and can vouch for the area as as strong rental market as well.  

Thanks for posting! 

@Nathan Gesner   Hello Michael;

Check out a previous post - this may help:

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

Good Luck!

I would recommend taking a look at this post to help you in your search:

https://www.biggerpocAkets.com/forums/52/topics/38...

Take Care!