PM With Realtor vs. Professional Company
I am purchasing a property (4-plex) roughly ~1.5 hours away that I want to hire a PM for. I have interviewed a few, and have found my own realtor and a professional company as the most responsive and with the most astute answers.
Realtor: first property under management, discounted rate of 3%, lives very close to the property, likely will receive attention due to proximity to the property. No systems/processes yet, could groom (though I have little exp. my self)
Pro: 200 units, rates of 6-10%. Lives in the area as well. Likely will receive less attention, but managed by systems and processes set up by company. Will get access to Buildium portal, along with periodic inspections and a nifty maintenance tracker.
Thoughts, suggestions? Who would you go with?
Most Popular Reply
- Real Estate Broker
- Tulsa- OKC Oklahoma
- 801
- Votes |
- 868
- Posts
If you have $100,000 to invest in the stock market are you going to choose the person with experience,systems and online access. Someone with a proven track record of investing, protecting and making money? Or, someone who says I think I can figure that out. Just trust me. The same thing goes with real estate. There are some brokers who specialize in listings and purchases transactions. Others specialize in property management. Why not go with the expert. There is a lot of lose and risk with the upside being to save 2-3% on a commission.