Ideas on finding a good Property Manager out of state?

Question

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?

Paul Timmins · Answer

@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

Account Closed · Answer

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!

JR Hinds · Answer

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?

JR Hinds · Answer

Thanks, Kyle Penland  I just found a few threads that each had some questions to ask.

Jerry Padilla · Answer

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

Azeez K. · Answer

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.

JR Hinds · Answer

@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.

Anna Watkins · Answer

@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.

Marco Santarelli · Answer

@JR Hinds -- @Dawn Anastasi is right, referrals are a great place to start.  What market(s) are you looking for a property manager in?

Ideas on finding a good Property Manager out of state?

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