The most effective way to attract your first few property management clients?

Question

I’m working on getting my first doors under management and would love to hear from others about what worked best for them in the early days. Was it networking, direct outreach, referrals, or something else entirely?

Drew Sygit · Answer

@Christopher Tinelli there is no "magic" source.

You'll want to implement plans for 3-5 target sources and keep with them for at least 3 months.

Over time, you'll find ebb & flow between sources, but you MUST maintain the 3-5 at all times as it's difficult to predict which ones will work, when.

BTW: be careful of hiring companies to drive leads. Many of them only attract unreasonably CHEAP owners who will immediately fire you if they find someone else cheaper or you won't capitulate to their cost-cutting demands.

David Peschio · Answer

@Abel Curiel great advice and tip.  No problem @Christopher Tinelli - hope all works out - could be a slow grind in the beginning but stick with it and all will work out.

Christopher Tinelli · Answer

@Abel Curiel Makes sense! I'm really just getting started on this journey. I plan to be very active in the forums here, and learning everything BiggerPockets has to offer and providing value wherever I can. It's so good to hear that story about your friend in Brooklyn. Definitely motivates me! I appreciate all the advice. Thanks!

David Peschio · Answer

Try owners that are self managing and having issues filling their units - Try to convince them to allow you to lease and once you have that relationship you can move towards full management.  You can find these owners advertising online.

Janice Carter · Answer

I called the phone number provided by the property owners. I also have two scripts prepared. One for when I reach the owner directly and the other for leaving a voicemail.

Janice Carter · Answer

To build your property management client base, join your local REIA and landlord-focused Facebook groups. Also, reach out to FRBOs on Zillow and make it a habit to collect their email addresses. From there, stay top of mind by sending bi-weekly tips and useful content to your database. They may not need your services today but they often do later. Foreclosure auctions are another strong source of investors and those are picking up again.

David Peschio · Answer

@Christopher Tinelli  No doubt.  Study your competitors in the market and figure out how you can better serve your customers.

Christopher Tinelli · Answer

Thanks @Allison Park. That's been part of my process as well, doing some cold outreach like that. Thanks!

Abel Curiel · Answer

Hello Christopher!

Being active on BiggerPockets could be a great way to attract clients. The way to do this is through advertising here on BP and/OR attracting clients organically.Advertising will allow your company to be featured when someone clicks 'Build Your Investing Team' and Property Managers above.Attracting clients organically entails answering questions on these forums and sharing your expertise to help the community.BiggerPockets does not allow you to advertise on these forums (except the classified section) and that is a good thing. It means we have to genuinely care about the RE industry and our local market by adding immense value to folks without expecting anything in return.Another way to attract clients is door to door. A good friend of mine started a property maintenance company in Brooklyn, NY (super competitive market) and grew his database by showing up to development sites, following investors and developers on social media, introducing himself to local property owners, posting his day to day on Instagram, and following up with his database regularly.

I also agree with everything @David Peschio and @Drew Sygit suggested here!All the best,

Abel

Christopher Tinelli · Answer

@Janice Carter How are people actually reaching out to FRBOs on Zillow? The minute I reached out to a FRBO, my account got flagged for soliciting. Just curious how others are handling.

The most effective way to attract your first few property management clients?

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