Property Managers & Their Owners

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Property Managers & Their Owners

Tom Lanzano
Investor · Long Island, NY · Member since 2026 · 20 posts · 20 votes

Hi property managers! Tom here, and I’m looking to acquire SFHs in Cleveland virtually. We typically prefer off market referrals from real estate pros. Is this typically something you all do in this area? I know it varies.

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Divin KanyamaBusiness Member
Accountant · Seattle, WA · Member since 2025 · 520 posts · 216 votes
6d

@Tom Lanzano —some property managers do share off-market leads, especially when an owner is tired of managing, facing a large repair, or preparing to sell an occupied rental. Others avoid acquisitions entirely or reserve referrals for established clients, so it really does vary by company.

The best approach is to build the management relationship first rather than lead only with “send me deals.” Be specific about your Cleveland buy box, proof of funds, closing timeline, rehab tolerance, and whether you’ll keep the property with that manager after closing. A buyer who can give quick, reliable answers is easier to call when an opportunity appears.

Ask whether they source deals, represent sellers, receive referral or brokerage fees, and manage both sides of the transaction. Any compensation or conflict should be disclosed clearly. Also ask if they can provide rent estimates, inspection walk-throughs, rehab scopes, leasing feedback, and neighborhood-level operating history.

For a virtual purchase, the quality of the manager’s communication and vendor network may matter as much as the lead itself. I’d speak with several Cleveland managers, verify licensing and references, and test them with a sample property before relying on anyone as the local eyes and ears.

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  • Divin KanyamaBusiness Member
    Accountant · Seattle, WA · Member since 2025 · 520 posts · 216 votes
    6d

    @Tom Lanzano —some property managers do share off-market leads, especially when an owner is tired of managing, facing a large repair, or preparing to sell an occupied rental. Others avoid acquisitions entirely or reserve referrals for established clients, so it really does vary by company.

    The best approach is to build the management relationship first rather than lead only with “send me deals.” Be specific about your Cleveland buy box, proof of funds, closing timeline, rehab tolerance, and whether you’ll keep the property with that manager after closing. A buyer who can give quick, reliable answers is easier to call when an opportunity appears.

    Ask whether they source deals, represent sellers, receive referral or brokerage fees, and manage both sides of the transaction. Any compensation or conflict should be disclosed clearly. Also ask if they can provide rent estimates, inspection walk-throughs, rehab scopes, leasing feedback, and neighborhood-level operating history.

    For a virtual purchase, the quality of the manager’s communication and vendor network may matter as much as the lead itself. I’d speak with several Cleveland managers, verify licensing and references, and test them with a sample property before relying on anyone as the local eyes and ears.

    [email protected]
    WEMBO CPA532 Reviews
    WebsiteView Page
    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    6d

    To add to what @Divin Kanyama posted, why should I send you a "deal"?

    You've shared no buybox or credentials to show me you've done your homework and you're not a waste of my time.

    Hope the feedback helps you improve your wholesaling business.

    [email protected]248-209-6824
    Logical Property Management4.9465 Reviews
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    • Tom Lanzano
      OP
      Investor · Long Island, NY · Member since 2026 · 20 posts · 20 votes
      6d

      Hi Drew,

      I’m simply trying to gauge how property managers like to work in this area. I’d be happy to speak more about in-depth details of what we look for. We both flip and wholesale. I obviously don’t expect you to just throw me deals on a whim.

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  • Jordan FioreBusiness Member
    Real Estate Agent · Cincinnati, OH · Member since 2020 · 186 posts · 147 votes
    1d

    Good question, Tom — and the short answer is yes, but not the way most virtual buyers go about it.

    On the agent side in Ohio, PMs do pass off-market opportunities along, but they go to buyers who make their life easy. The one thing I'd add to the reply above: lead with your buy box in writing and respond fast. When a PM has an owner who's tired of managing, they call the buyer who answered the last text in under an hour — not the one with the biggest proof of funds.

    Also worth asking each PM directly whether they refer to agents or only take on clients. Some shops keep it in-house, others actively partner with investor agents. Knowing that up front saves you months of guessing.

    I'm based in Cincinnati working with out-of-state buyers on small multifamily, so I see the same dynamic here — happy to share the questions I give my buyers for vetting PMs, since the answers tell you pretty quickly who's actually investor-focused.

    [email protected]513-646-1038
    Jordan Fiore, Realtor - eXp Realty566 Reviews
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