Property Manager & Team Recommendations

16 Replies

Hey Columbus Investors,

After months of educating ourselves, reading books, listening to podcasts and researching we finally took the plunge into real estate investing! My wife spent some time in Columbus Ohio and ended up purchasing 3 single family homes in some of the working class neighborhoods, now the work begins. 2 of the homes already have tenants in place, I wanted to ask if anyone had recommendations for a Property manager, handyman, contractor, housecleaning services, etc. for the one that is vacant? We live in California so need to put together a team there. We could use a combination of Yelp and Angie’s list but wanted to ask for recommendations here as well. Thanks in advance.

Go to www.narpm.org and search their directory.

If you make a mistake and hire a bad Property Manager, it can ruin you for life. Learn the difference between a good PM and a bad one, try to interview at least three, and then make an educated decision. Remember: the PM with the highest fees may be the one that makes you the most money.

Things to do:

1. Review their management agreement. Ensure there are no hidden fees!

2. Calculate the total cost for a year. Some will charge a percentage of rent and nothing else. Some will charge a percentage each month but also a start-up fee, a leasing fee or lease renewal fee each year, administrative fees, maintenance fees, etc. Every fee should be fully disclosed!

3. Review their lease agreement and addendums.

4. Interview them about how they handle maintenance, late rent, unpaid rent, lease violations, evictions, etc.

5. Ask to speak to some of their current owners and tenants.

6. Google them and see what kind of reviews they have.

Nathan, thanks for your response. Yes, I will have to rely heavily on the property manager. Thanks for the pointers, I'll definitely check out the narpm.org.  

@Michael Hahn

For SFR and smaller MFR, I've been working with David at Panzera Realty. They are a quality shop, and are super responsive. However, they are somewhat selective about which properties they take on, so your mileage may vary.

Another PM that I interviewed was Mitch from Solutions for Real Estate. He seemed quite good as well, and is willing to take on more C neighborhoods, but I haven't had the opportunity to work with him in a PM capacity yet.

If you call either one, tell them I sent you! :)

I would recommend calling a few and have a set of interview questions. Have a set of interview questions that you like to complete over the phone for the first round. Then follow up with them via email or call for a few follow-on details. It doesn't really matter what. You're just testing for how they do after the initial "pitch". I've interviewed a few PMs that sounded perfect on the first call, but where too busy to return my follow-up calls or emails. Even worse, there are a few that can't even take your first call even when you have a property in-hand. Avoid those.

Hope that helps!

James

@James Kojo Thanks for your response, that's a great idea about the second round of follow up question. I will definitely try this and let you know how it goes. How long have you been doing real estate investing? Do you go to any real estate networking events in our area? Like I said we are complete newbies. Thanks! 

@Michael Hahn I sent you a PM and a colleague request. Let's connect up. I love talking shop!

James

@Michael Hahn I'm also invested in Columbus. Connect with me offline. I'd be happy to make a few recommendations.  

Best,

David

Hey Micheal, I think that’s a great choice for you to invest in Columbus. This city is growing like crazy. I’m a local agent here and would love to send you some of the people I know around town. I don’t have any personal relationships with any PM companies but know plenty of contractors. Sending a colleague request now.

Originally posted by @Michael Hahn :

Hey Columbus Investors,

After months of educating ourselves, reading books, listening to podcasts and researching we finally took the plunge into real estate investing! My wife spent some time in Columbus Ohio and ended up purchasing 3 single family homes in some of the working class neighborhoods, now the work begins. 2 of the homes already have tenants in place, I wanted to ask if anyone had recommendations for a Property manager, handyman, contractor, housecleaning services, etc. for the one that is vacant? We live in California so need to put together a team there. We could use a combination of Yelp and Angie’s list but wanted to ask for recommendations here as well. Thanks in advance.

 Hi Michael, congratulations on taking the leap into real estate investing.  That's really exciting.  I have several different property managers I work with and would be happy to refer you to them.  

@Michael Hahn I'm a newbie who is also interested in out of state investing in Columbus. Sent you a connect request so maybe we could help each other out in our investing journeys. Cheers!

@Robert Ellis would love to connect as I am also looking to invest in in the Columbus area after doing extensive research. Will send you a PM shortly. 

@Michael Hahn

All the above are great 

I would Call Donny Thompson with ERA also 

He manages around 600 units 

I can send you his contact info if you haven’t found anyone yet 

@Adam Fansler we found one that we signed a contract with for the 3 homes we bought, we are in the process of renovating the first one so we'll see how we like them, thanks for the additional recommendation.

Originally posted by @Michael Hahn :

Hey Columbus Investors,

After months of educating ourselves, reading books, listening to podcasts and researching we finally took the plunge into real estate investing! My wife spent some time in Columbus Ohio and ended up purchasing 3 single family homes in some of the working class neighborhoods, now the work begins. 2 of the homes already have tenants in place, I wanted to ask if anyone had recommendations for a Property manager, handyman, contractor, housecleaning services, etc. for the one that is vacant? We live in California so need to put together a team there. We could use a combination of Yelp and Angie’s list but wanted to ask for recommendations here as well. Thanks in advance.

 Hey Michael -

Not sure if you are still looking for some contractors, but I have a team (based in Dayton, OH about 90 min away) that can tackle pretty much anything.

We work in the Columbus area too, so if you should need any help, please feel free to reach out to me.

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