BiggerPockets

Hello,

In my quest to learn real estate I ended up getting my license in IL, and found out that being a salesperson might not be in me. I can do it, but dont know if its for me. so I want to learn to invest in apartment houses.

my question is does anyone have any experience with property management companies.. well working for them that is.. and if so would you rec. me working for a company to gain experience, and maybe take some IREM classes to learn how to manage properties, and then since I have my own license I could create my own management company?

thanks!

hmm why do you say that? have you had bad experiences managing properties?

also I am a agent, not broker, I looked into the laws and it seems as though as long as I have a sales license I can manage others properties.

haha thanks.. I am just trying to get some feedback from others.. esp those that have a property management company, or have worked for one. Not sure if I am going to go that route yet

Dave,
I have been a property manager for over twenty years, all types, from single family residential to Class A retail. I don't think it's so terrible, you just have to have a back like a duck's (-;, and be consistent in your decisions and policies. I think my experience has been very beneficial to prepare me for my real estate investor phase, which I am in right now. Although I would rather have someone else manage for me now, I am not afraid to take on that duty temporarily to get into a property, or to make the numbers work. You do need to figure out which animal you prefer - residential or commercial, office or retail, etc. The least management intensive is managing industrial parks, while the most intensive is multifamily apartments. Then, with apartments you go from one extreme at market high end rentals to the other end managing Section 8 or tax- credit properties (can be a nightmare). Good luck, Mike