I’ve Been Self-Managing for 10 Years: Here’s How I’m Interviewing My 1st Property Management Company [Video!]

I’ve Been Self-Managing for 10 Years: Here’s How I’m Interviewing My 1st Property Management Company [Video!]

1 min read
Matt Faircloth

Matt Faircloth, co-founder and president of the DeRosa Group, is a seasoned real estate investor. The DeRosa Group, based in historic Trenton, N.J., is a developer and owner of commercial and residential property with a mission to “transform lives through real estate.” DeRosa creates partnerships to finance select real estate investments and has a proven track record of providing safe, profitable investment opportunities to their clients.

Matt, along with his wife Liz, started investing in real estate in 2004 with the purchase of a duplex outside of Philadelphia with a $30,000 private loan. They founded DeRosa Group in 2005 and have since grown the company to hundreds of units in residential and commercial assets throughout the East Coast. Under Matt’s leadership, DeRosa has completed tens of millions in real estate transactions involving private capital, including fix and flips, single family home rentals, mixed-use buildings, apartment buildings, and office buildings.

Matt is an active contributor to the BiggerPockets Blog and has been featured on the BiggerPockets Podcast three times (show #88, #203, and #289). He also regularly contributes to BiggerPockets’ Facebook Live sessions and teaches free educational webinars for the BiggerPockets Community.

Matt authored the Amazon Best Seller Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money. The book is a comprehensive roadmap for investors looking to inject more private capital into their real estate investing business and is a must-read for anyone looking to grow their business by using private lenders and equity investors. Kirkus, the No. 1 trade review publication for books, had this to say about Raising Private Capital: “In this impressively accessible introduction to a complex subject, Faircloth covers every aspect of private funding, presuming little knowledge on the part of the reader.”

Matt and his wife Liz live in New Hope, Penn., with their two children.

Matt earned a B.S. in Industrial and Systems Engineering with a minor in Business from Virginia Tech. (Go, Hokies!)

DeRosa Group’s YouTube channel

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Hey there, BP! So believe it or not, I’ve been in business for 10 years and never had to hire a property manager. We have been able to do that by keeping it close to home with investments inside of a 30-minute radius of our office. We’ve made a strategic decision to move forward this way and have done well with it. As a result, we have learned firsthand what works and what doesn’t, mostly because we did what doesn’t work in the beginning!

Related: 80 Smart Questions to Ask BEFORE Hiring Your Next Property Management Company

That being said, we are expanding our portfolio to areas where managing ourselves is not possible. We currently have a 49-unit building under contract located two hours from our office. We are really excited about the opportunity, but it puts a task on our plate for the first time — having to hire a property manager. As we’ve done it for so long ourselves, we have a pretty good idea what it takes to manage real estate.

In today’s video, I talk about an interview I had with a potential property manager for our new purchase. I share some important questions I asked and what I learned from their answers.

So we are still interviewing, and I’d love some feedback on this. What did I miss? What are YOUR most important factors to consider from a property manager? For those of you out there that have a successful management company running your rentals, what do they do well? Any management horror stories?

I look forward to your comments!