How to first start a PM Business

[Alexis Helton]

Hi - I will be a newly licensed broker here in the next two weeks and plan to start my own PM business. I have managed my own multifamily rentals for the past 3 years and want to expand to managing rentals for others. 

For those PM's that started their businesses how did you start your first business? Did you go straight into working for a PM company or did you find a managing broker to sponsor you? Any tips to for the latter?

[Adam Bartomeo]

The best thing to do is to partner with another successful PMC. It could be in the state or outside but they have to align with your goals and vision. They will be able to save you lots of time, money, and effort with the knowledge that they possess by helping you to avoid all of the mistakes that they have already made and by guiding you down the right path faster. Running a PMC is much different than self-managing, I speak from experience.