After a highly cautious start, and over 100 property analyses, I've moved on a 4 unit property In south Jersey with great cashflow. one down 99 to go! Can anyone have any experience of property managers in the Mullica Hill/Sewell/Pitman/Glassboro area? horror stories and recommendations very welcome.
Hey Robbie, congrats on the first deal! That is awesome. I am currently on the hunt for my first small multifamily property in South Jersey (Camden and Burlington counties) as well.
While I have not used a property manager yet, a few local investors suggested Mike Williams of Sureway Property Management. When conducting my due diligence on possible PMs in my target markets, Mike really stood out. I told him that I was a new investor and he took the time to answer all of my questions and educate me about my target markets. I believe he had a sub 10% fee at the time as well. If and when I ever need property management, Mike will be my first call.
Shoot me a message if you want his number or just check out his website here.
Thanks Ian, appreciate you sharing your recommendation and good luck hunting for your first MF. There is a lot of really poor housing stock out there so you have to keep to your principles and be patient. I analysed a load of potential places prior to securing one I was happy with. Dealt with some pretty unprofessional realtors, seen some properties with real structural issues, visited some pretty run down areas and gained some insight into how people live, a reminder of how fortunate I am....it's a grounding experience.
I'll follow up with Mike via the website.
@Robbie McCarthy Congrats on buying your first MFH! While I don't know any property management company down in South Jersey, I suggest attending a few local REI clubs meetings and asking the locals as to who do they use. You can also do that by asking your local lender(s), RE attorney(s) and realtors. If someone is good, they will be on the recommendations list more than once!
Congratulations Robbie! I have not gotten started in multi family yet but I am investing in single family in the same area, and I saw this post. Just stopping in to say congratulations and maybe we’ll run into each other sometime. Good luck!