Ideas on finding a good Property Manager out of state?

General Real Estate Investing
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Ideas on finding a good Property Manager out of state?

JR Hinds
Investor · Portland, OR · Member since 2014 · 146 posts · 101 votes

It looks like my next purchase will be out of state. I know people in the industry in my home town, so it's not difficult to find a good property manager and stay on top of them. But finding a good property manager across the country will be more difficult. Does anyone have good suggestions for identifying a few good property managers in another city to interview? And then do you have suggestions for how to interview them?

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Paul Timmins
Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
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@JR Hinds 

To continue what Azeez said...

Go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask for market occupancy and rents. Ask if they know anything coming up for sale.

You can also search narpm.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

Paul

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  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
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    Referrals and good references are your best source.  Talk to actual landlords using the company.

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  • Account Closed
    Real Estate Investor · San Antonio, TX · Member since 2014 · 785 posts · 190 votes
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    I am sure you can find good property manager references on BP. That said, we in San Antonio are big owner finance advocates. Our investors (mostly in California, SF and LA) rarely landlord - they owner finance houses they buy from us to end buyers we qualify for them. The advantage - no maintenance required by you the investor. It is the only way to invest in buy and hold residential for me, that's all I do. Good luck :)

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  • Marco SantarelliPro Member
    Specialist · Orange County, CA · Member since 2008 · 2k+ posts · 623 votes
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    @JR Hinds -- @Dawn Anastasi is right, referrals are a great place to start.  What market(s) are you looking for a property manager in?

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  • JR Hinds
    OP
    Investor · Portland, OR · Member since 2014 · 146 posts · 101 votes
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    Good advice, @Dawn Anastasi . I'll make sure to get some references.

    Thanks for the alternate strategy, @Account Closed I'm leaning toward Atlanta, GA right now. It looks like a good place for small multi-family buy-and-hold. I'm chatting with one guy on Friday morning who may have some connections to a Property Manger there. I feel like that's where I need to start. Does anyone have a good PM connection in Atlanta?

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  • Kyle Penland
    Investor · Dyersburg, TN · Member since 2015 · 320 posts · 100 votes
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    There was a post on this with interview questions not too long ago.
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  • JR Hinds
    OP
    Investor · Portland, OR · Member since 2014 · 146 posts · 101 votes
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    Thanks, @Kyle Penland  I just found a few threads that each had some questions to ask.

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  • Anna Watkins
    Investor · Atlanta, GA · Member since 2014 · 389 posts · 250 votes
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    @JR Hinds  - My real estate agent also has a property management company, and I'd be happy to give you her info (this is in Atlanta). Question -- in what areas you seeing small multi-family properties?  I feel like they're few and far between right now, but I may not be interested in the same neighborhoods as you are.

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  • JR Hinds
    OP
    Investor · Portland, OR · Member since 2014 · 146 posts · 101 votes
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    @Anna Watkins I looked all over Atlanta. Maybe there are some neighborhoods I should be avoiding. I'll PM you to set up a time to chat, if that's okay.

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  • Azeez K.
    Investor · Atlanta, GA · Member since 2013 · 646 posts · 392 votes
    11y

    Hi @JR Hinds 

    I read the book MF Millions by Dave Lindahl and in his book he recommends the following:

    1. Go to www.irem.org (institute of real estate management)

    2. Look for the designations by CPM (certified property manager) for 50 units and above or ARM (accredited residential manager) for anything lower than 50 units

    3. Pick up 2-3 in the Atlanta area and ask for investor referrals 

    4. Talk to the investors and assess the PM's

    Hope that helps.

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  • Account Closed
    Professional · Duluth, GA · Member since 2015 · 35 posts · 4 votes
    11y

    We work with investors in other states as well as internationally.  We help locate and purchase investment properties as well as manage over 300 properties.  I would be happy to send some information to anyone interested in learning more about our services!

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  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @JR Hinds 

    To continue what Azeez said...

    Go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask for market occupancy and rents. Ask if they know anything coming up for sale.

    You can also search narpm.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

    Paul

    1Reply
  • Jerry PadillaBusiness Member
    Lender · Rochester, NY · Member since 2014 · 3k+ posts · 1k+ votes
    11y

    @Brie Schmidt  website is a great place to find property managers

    [email protected]585-204-6923
    PrimeLending 4.8583 Reviews
    WebsiteView Page
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