Updated over 6 years ago on . Most recent reply
Looking for advice on my vision
Hi everyone,
I'm looking for advice/help on a start up. Please bear with me I'm new, reading and listening to everything I can and it's a lot to wrap my head around. I'm wanting to start a property management company, I guess. My thought is to find investors that have never invested in real estate but are interested or looking for something new to invest in. Maybe they don't have the time, knowledge or resources. Also could be good for out of state investors. So we decide to partner together, they put in financially and my company puts in the work. When the home is finished, they either decide to sell or rent. If they choose to rent, my company can manage the property, although not required. Does this sound doable or am I wasting time? I don't know what a business like that would be titled as. Is it like TurnKey? Property Management? Wouldn't it be safer/better for the customer because they know where their money is going and what is type of property they have? Could the customer BRRRR? What type of fees would be charged to the customer? % or flat fee? Last one, What kind of deals do you make for OPM? I'm really just wanting to create a company that would help its customers grow financially and make communities better. I'm sorry it's a lot, I'm trying to get a better understanding and appreciate any advice! Thanks!