Good, Bad or GREAT! Newbie Idea

[Joshua Pagan]

I was having trouble falling asleep last night when this business idea came to me. 

I currently have a team composed of: 1 Architect, 1 CM, and 1 other Business Partner. We are all either fresh out of college or still finishing up with fire in our eyes to hit this business running.

What I am curious about is if this would be a good business plan to build up some initial funds while also gaining some experience in the Real Estate business... Let me explain.

What if the business we started was branded as a Property Management Firm that also handles our own investments. Would that be any different from an investment group that also manages properties? or are they one in the same?

What if.. we built our client base through managing their properties and through that basis of clients we could recommend our ideas to them for future rehabs..etc. We have most of the parts to rehabbing any property because of our design/build part of the team and it would be easy for us to speak to our potential clients because we would already be working for them.

Does anyone know of any companies that already do this? and if so does it work well? Are there any giant flaws in this type of business that I may be missing? 

Looking to hear what everyone has to say!

Have a good day!

[Joe Villeneuve]

Legally, you an't advertize as a PM service without a liscense.  You can manage properties you own, but not someone elses. So, you need a PM added to your team, and they would be the PM service, or, you would have to get liscensed.