Starting a Property Maintenance Company - Smart or Dumb?

[Christopher Gingras]

Hoping to get some feedback on whether this is a good idea or not. The thought would be to set up a property maintenance company to service our forty units and then offer services to other property owners. At the moment we do not have the size to justify a full time maintenance person but if we could build up enough work from other customers then it might just work. A few other thoughts... *We already have someone we use exclusively so we would set him up with insurance and add him to payroll. *We are not a licensed real estate broker so we would stay away from property management activities although we could partner with a broker. Has anyone pursued a similar concept? I do not see this being overly lucrative but if it results in a full time maintenance professional and makes enough to offset some of our owned expenses that would be a plus. Thanks for any thoughts or experiences. Trying to avoid a disaster if it's a dumb idea.