New out of state investor, looking to build a sizable portfolio

[Jonathan Weinberger]

Hi there, 

I'm an out of state investor looking to build a sizable portfolio in the Toledo market. I'm hoping to connect with some realtors, as well as certified general contractors, people experienced with fix and flips. I'm looking to form a team on the ground. 

Can anyone point me in the direction of how I can start my own property management company? I'd love any referrals to new and hungry realtors that are looking for a steady paycheck or a side gig!

[Jackelyn Lee]

Quote from @Jonathan Weinberger:

Hi there, 

I'm an out of state investor looking to build a sizable portfolio in the Toledo market. I'm hoping to connect with some realtors, as well as certified general contractors, people experienced with fix and flips. I'm looking to form a team on the ground. 

Can anyone point me in the direction of how I can start my own property management company? I'd love any referrals to new and hungry realtors that are looking for a steady paycheck or a side gig!

Do you currently own anything in Toledo? If not, why Toledo? Are you familiar with the market? Are you looking to build a team to self- manage your own rentals, or start a third party property management company? 

How many deals are you planning to do per month that would give realtors a “steady paycheck?”

[Jonathan Weinberger]

Quote from @Jackelyn Lee:

Quote from @Jonathan Weinberger:

Hi there, 

I'm an out of state investor looking to build a sizable portfolio in the Toledo market. I'm hoping to connect with some realtors, as well as certified general contractors, people experienced with fix and flips. I'm looking to form a team on the ground. 

Can anyone point me in the direction of how I can start my own property management company? I'd love any referrals to new and hungry realtors that are looking for a steady paycheck or a side gig!

Do you currently own anything in Toledo? If not, why Toledo? Are you familiar with the market? Are you looking to build a team to self- manage your own rentals, or start a third party property management company? 

How many deals are you planning to do per month that would give realtors a “steady paycheck?”

 Hey Jackelyn, 

Thanks for the questions! Yes, very familiar with the affordable housing options surrounding Ohio. We are indeed looking to train someone to manage our own units. We're not interested in being a property management company. 

We're looking to acquire 10-15 units over the next 60 days, and close out the year with 50 units. 

We're looking to pay $3500/mo starting to someone to manage. Preferably a junior / recent college grad getting their start. 

[Darius Ogloza]

You would do better if you could pinpoint your intended 60 day targets.  West side? East? South Toledo? North? Old Orchard? Old West End? Suburbs? There are many sub-markets in Toledo - with this kind of volume, you will need someone who knows your particular sub-market well.   

[Joe S.]

Quote from @Jonathan Weinberger:

Quote from @Jackelyn Lee:

Quote from @Jonathan Weinberger:

Hi there, 

I'm an out of state investor looking to build a sizable portfolio in the Toledo market. I'm hoping to connect with some realtors, as well as certified general contractors, people experienced with fix and flips. I'm looking to form a team on the ground. 

Can anyone point me in the direction of how I can start my own property management company? I'd love any referrals to new and hungry realtors that are looking for a steady paycheck or a side gig!

Do you currently own anything in Toledo? If not, why Toledo? Are you familiar with the market? Are you looking to build a team to self- manage your own rentals, or start a third party property management company? 

How many deals are you planning to do per month that would give realtors a “steady paycheck?”

 Hey Jackelyn, 

Thanks for the questions! Yes, very familiar with the affordable housing options surrounding Ohio. We are indeed looking to train someone to manage our own units. We're not interested in being a property management company. 

We're looking to acquire 10-15 units over the next 60 days, and close out the year with 50 units. 

We're looking to pay $3500/mo starting to someone to manage. Preferably a junior / recent college grad getting their start. 

 That’s a lot of units at once. How do you plan on financing them?

[Jackelyn Lee]

Quote from @Joe S.:

Quote from @Jonathan Weinberger:

Quote from @Jackelyn Lee:

Quote from @Jonathan Weinberger:

Hi there, 

I'm an out of state investor looking to build a sizable portfolio in the Toledo market. I'm hoping to connect with some realtors, as well as certified general contractors, people experienced with fix and flips. I'm looking to form a team on the ground. 

Can anyone point me in the direction of how I can start my own property management company? I'd love any referrals to new and hungry realtors that are looking for a steady paycheck or a side gig!

Do you currently own anything in Toledo? If not, why Toledo? Are you familiar with the market? Are you looking to build a team to self- manage your own rentals, or start a third party property management company? 

How many deals are you planning to do per month that would give realtors a “steady paycheck?”

 Hey Jackelyn, 

Thanks for the questions! Yes, very familiar with the affordable housing options surrounding Ohio. We are indeed looking to train someone to manage our own units. We're not interested in being a property management company. 

We're looking to acquire 10-15 units over the next 60 days, and close out the year with 50 units. 

We're looking to pay $3500/mo starting to someone to manage. Preferably a junior / recent college grad getting their start. 

 That’s a lot of units at once. How do you plan on financing them?

 I was just curious since your only other posts suggest you are new to investing. Which is great! 
Have you been to Toledo? 
3500/month is a lot. You’d essentially be better off paying a property manager that always has those connections and relationships and is familiar with managing in Toledo. If average rent is 1000 a month, and you’re paying a PM 10%, You’d need over 30 houses immediately for it to make sense financially.

It’s an ambitious goal - which I admire. Just be careful scaling too quickly and trying to do it on your own… 

[Drew Sygit]

@Jonathan Weinberger to be a PMC, the company will need a RE Broker's license. You should also have E&O insurance.