I already posted in another forum here on BP, but I'm hoping to get a few more responses here...
I want a good management company that not only manages my properties well and with integrity, but who I can also rely on as a source of investment advice. For example, I could ask them whether a potential property is worth investing in based on their knowledge of rent prices, growth, and crime in the area.
Also, I know many investors don't recommend management companies. Why though? I'm wanting to buy my first property soon and I'm trying to consider every angle. The pros I've heard for management companies are: they help get quality tenants, they handle the minor maintenance issues, and they can help you buy properties wisely (like in my example above).
i strongly recommend property management - unless for some reason you have the time to do it yourself - and even then they are experts at things you'd have to go through a learning curve on. I started from day one using outside managers for all my properties - currently up to 73 doors. I only bought out of state because SoCal is too expensive, so i had to have someone local. I think that the main way to scale is to have someone else doing the daily detail work. If you want to quit your day job, do this full time, and only buy in areas you can drive to then maybe you can do without, but otherwise i would highly recommend making sure to use a PM as you get started.
As you admitted, you asked the same question twice without drumming up much of a response.
Based on your questions, you either need much more time to learn about this business or simply stick with REITs.
Your first post got you some recommendations and based on my conversations with Nate Garrett at Homefinders, there is no doubt that you would benefit from their representation. Whether or not they have an interest in holding your hand to the extent that you desire at this stage on investing is between you two. You should also reach out the Charles McBride at Bailey Foristell, Inc. He would do right by you as well. There are several options in the Tulsa area. There is even a phone book that is still published, not to mention what can be found online.
But seriously....in reading your questions, it is apparent to me that you need to learn more about this business as a whole before you can seriously expect much success. For the level of hand holding it appears you need, absent showing up with enough cash to buy several properties, I can't see many people getting excited at the opportunity to teach you this business in return for possibly managing one of your properties, if you ever buy one and maybe in a few years another one.
REITs are not that bad. You might seriously consider that route.
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