Is Property Management a Profitable Business?

[Shyam Kumar]

I am planning to start a property management business in Texas. Can I expect to see good profits in this business?

Any guidance is greatly appreciated !

[Nathan Gesner]

Quote from @Shyam Kumar:

I am planning to start a property management business in Texas. Can I expect to see good profits in this business?

Any guidance is greatly appreciated !

Just like any business, it can be very profitable if you put in the effort and run it properly. 

I believe 80% of property management companies are jobs. The owner earns a good salary if they work in the company. When they stop working, they stop earning and/or the business dies.

A well-run PM company will pay the Owner a handsome salary, produce a strong profit, and require little in the way of day-to-day responsibilities. I know a company owner that is out on his fishing boat every single day, yet he's making a six-figure income. I'm waiting for kids to grow up and move on, but I'm building a business that can operate without me so I can "work" from anywhere. I deal with big-picture stuff, which can be done from anywhere.