All Forum Posts by: Vlad Krokhmal

1. The only people that can truly answer your questions are the local brokerages. Call around to see who is willing to take you on.

2. I think it's a mistake to start PM from scratch on your own. You probably don't have experience managing rentals for others. You don't have the forms, processes, marketing, software, and other tools a professional would have. 

As already stated, many real estate offices will not allow property management. Others don't want to touch it because it's completely foreign to them. Others will reject the idea because you can't produce an income for their office and will likely be a taker, not a maker.

My suggestion is to get a job with an established property management company. You'll get a nice paycheck immediately, and you'll learn more in two years working for them than you would struggling to build a business on your own. Once you've proven yourself for a couple years, then you will have everything you need to step out on your own and build a sustainable business quickly.

Quote from @Vlad Krokhmal:

Hi guys,

Was hoping to see what biggerpockets members suggest I do as a newly-minted licensed real-estate broker who is looking to start in property management. In north carolina, you need a broker's license to do property management, so I just finished getting the license. However, before I can be a broker in charge and run my own show (my eventual goal), I need to work for at least two years under some brokerage firm. Should I work somewhere like exp or keller williams given that these brokerages don't specialize in property management? Should I look for some smaller property management firm? Would a property management firm even take me, considering I would be their competition once the two years pass?

Thanks for all the advice!

 Hi Vlad.

If you want to setup your own management company, I am not sure if another management company would have you hang your license there, learn what you can from them and then go setup up a company.  Different professional groups (such as narpm.org) can give you amazing training for that.

If you are supposed to be supervised prior to you becoming a broker, maybe working with a sales company as a broker- associate would be the right way to go.  Whether you need to setup a property management section or not to "qualify" as a broker for 2 years, I am not certain about the law in North Carolina.  In Florida, it is different but you can put your license with a real estate company for 2 years and then setup your own real estate company if you choose to.