How to price a property management company
I was approached by an owner of a property management company that is interested in retiring. I’m not sure how to value his book of business.
High level he manages 240 properties, gross income $330k and also owns the maintenance company that services the rentals.... that company alone grosses $700k. I haven’t seen his P&Ls yet but wasn’t really sure how to put a value on his company.
He’s open to sell via terms because I wouldn’t even know how to finance such a deal.
Does anyone have experience acquiring management companies?