Starting a Property Management Company with Brokerage HELP!
Hey Everyone,
I own a few small apartment building of my own and have wanted to start a property management company for awhile now. Im also a Realtor and the company I work for owners approached me with starting a business with me. They have quite a large portfolio in commercial property and idea of building residential property. Just with managing their properties the company would be able to sustain.
My question is how should I go forward on the may the company's equity is split. My initial thought would be to have an equal 33.3% split between myself and the two owners, and get a salary on top of this. Again this is in the very beginning of happening and just looking for previous experiences from you!
Keep in my mind I myself would be able to bring in close to 300K in rents a year, and they would be very passive in the company. I would be doing all the work.
Thanks in advance