HOW TO BE A PROPERTY MANAGER?

Question

How would someone who has never had any property management experience, but is pretty well learned of the industry get their foot in the door with an entry level job such as assistant PM? Or for the PMs out there how did you start out and land a job? What were some keys steps that you did?

Sean Sloop · Answer

Hey Julian, I would recommend networking with local PM companies. Usually if you can network that would be able to get your foot in the door easier than a resume with no relevant experience.

May be helpful to get a real estate license as that sometimes is a requirement for some roles within a PM company.

Bjorn Ahlblad · Answer

Google; there are a couple of orgs that offer on line classes: North American Residential Property Managers is one. But there are a couple more. RE license is good to have and someone at the office will need a RE license but that does not have to be you. Having PM expertise is golden for a partner in RE deals as well.

Julian Davis · Answer

@Scott Mac

Hi Scott,

Thanks for differentiating between the two. That makes a lot of sense, referring to the experience that one would get managing Class A vs B and C. Honestly thanks for providing that prospective because I side along with "boots on the ground" type experience more. As I eventually want to build my own real estate portfolio.

Also funny you mention that, I'm actually reading that right now along with others.

H. Louretta Dawkins · Answer

Hi Julian,

I originally got started when I spoke with the apartment manager in the complex where I lived.  I was intrigued by the various hats that the PM had to wear.  That lead to working on getting my license and networking lead to my first official PM job.  Good luck with your pursuit!

Julian Davis · Answer

@Davartay Miller

Thank you for replying with your helpful advice and wisdom. I will take this and run with it because everything you described is definitely what I desire.

Julian Davis · Answer

@Bjorn Ahlblad

Thanks for the valuable intel. And yea you are absolutely right about PM expertise brings value in a REI deal, that is one of the primary reasons I seek to be a PM, to see how experienced operators operate big and small assets. Because I've been learning how to underwrite and syndicate deals so aside from that, I want to experience how daily operations work. As you know without good PM, an investment that was brought to be an asset can quickly turn into a liability.

Davartay Miller · Answer

@Julian Davis Please start by finding PM’s in your area! @Sean Sloop hit it on the nail. Most people are so caught up on resumes but guess what? You have to start somewhere. To Sean’s point you connecting with a local PM is a great beginning to a wonderful career because of the value it brings. If any local companies have any position open – in my opinion you want it. Here’s why…. Every department is beneficial to keep the big wheel turning. Therefore, you will see the different sides: customer service, maintenance, collections, screening, renewals, leasing, IT, etc. You want to be under the roof of experience. I always look at every position as a stepping stone to somewhere greater. That greater can still be with the same company but in order to be a great leader you must know other aspects of the company.

Best of Luck,

Scott Mac · Answer

Hi Julian,

Being a property manager, vs. being a GREAT property manager, which is a whole different level of commitment.

If you want to be a property manager in business for yourself, you could learn from a bigger outfit like greystar for a couple of years and draw a W2 from them.

If you want to manage class B or C, managing a class A will not give you the boots on the ground experience you need very much. So factor that into your thoughts.

If you like to read, try property management for dummies.

Good Luck!

Julian Davis · Answer

Hi Louretta,

Thanks for this helpful answer. I am now starting toward the process of getting my license (broker licensure in NC)

Also, are you licensed in both NC and SC or plan to?

And forgive me for my untimely reply.

@H. Louretta Dawkins

Julian Davis · Answer

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HOW TO BE A PROPERTY MANAGER?

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