Transitioning from Corporate World into Property Mgmt

[Andrew Kubik]

Hello BiggerPockets Community!

I live in the Nashville area, currently work in corporate finance and have my CPA. I manage a couple of rentals on the side (one long term and one STR). I'm looking to transition into the world of property mgmt.

I just passed my real estate exam, and now it's time to find a broker to hang my license with. I'm looking at getting into the world of property management via a franchise. My understanding is the TN has some crazy rules and regulations that complicate this process.

Thank you in advance for any advice!

Drew

[Nadeem Alamgir]

Hey Andrew, every state has their own "crazy rules and regulations," and it is what it is.

I recommend finding a strong brokerage with investor-friendly agents who are doing a high amount of volume.

You can set up systems and procedures to make it easy for them to refer your company over. and keep their clients happy. Network and build relationships with these agents so you become their "go-to" referral for their clients. If you can pull this off, you basically outsource lead generation and sales. 

Good luck! 

[Luka Milicevic]

@Andrew Kubik I made the same transition many years ago. Not into prop mgt but full time RE investing/agent work.

TN does not have "crazy rules and regulations" not sure where that came up. 

I personally am under Zach Taylor Real estate. I chose them due to the flat fee they have on transactions which works for me and my situation. 

Definitely talk to a few brokers and see what they offer. Fees/commission splits are not everything.

[Andrew Kubik]

TN only allows a broker to have up to two forms underneath them. I’m looking for a broker that doesn’t have any other firms under them.

[Chris Grenzig]

@Andrew Kubik look in to NARPM (National Association of Residential Property Managers) if you haven't already, they have local chapters. They have a ton of great info to help you learn best practices, find vendors, learn different things and network with other people in the industry. Good chance some of them might even know a broker who is available or willing to do it. I haven't joined yet, but a lot of their free material has helped educate me. 

Also check out webinars by profit coach, Evernest, Lead Simple, Peter Lohmann, Wolfgang Croskey, and I know there are a few others, but thats a good place to start. 

[Andrew Kubik]

Thank you Chris! 

[Bill Hampton]

@Andrew Kubik

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking and is full of great content.

I recommend that you check out the following resources:

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Check out other online guides available here: https://www.biggerpockets.com/guides

3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files

Good luck.

[Karen Wanamarta]

@Andrew Kubik Check our Real Property Management.. they are franchise + investor friendly.