New Property Management Company
I am brand new to BiggerPockets and trying to soak up as much knowledge as I can here. I've found everything and everyone to be extremely helpful and full of beneficial information. Any specific advice or conversation is greatly appreciated.
I am looking to start my own property management company here in Charleston, SC. I have a strong financial/accounting background and currently work for a CPA firm. I spent extensive time working with a PM client and setting up the structure of their accounting system. The PM company was using Quickbooks/excel to track their PM business, but eventually outgrew this system and switched to Appfolio. It got to the point where the owner had no idea if rent/owner/commission was paid or not - a complete disaster. I worked side by side with the Appfolio transition team, and we eventually got the business owner back on track. From there - I was in charge of monthly reconciliations and cleaning up the mess that the administrator had made throughout the month.
So, at this point, I've developed a great relationship with the PM owner as a great resource who is fully willing to help (no competition here as the owner lives in a different state), and I have extensive experience with the Appfolio platform. My next step is to get licensed here in SC as a Property Manager. From the research I have done it looks like all I need to do is take a 30hr course, pass a test, and pay a licensing fee.
What I am looking for is any advice or incite, strategic advertising, dangers/things to avoid, and mutually beneficial relationships. I am currently still working full time - so I will be working this as a side-gig until it can support a full salary on its own. The ultimate goal is to provide sufficient cash flow as a salary, as well as, opening doors to other real estate opportunities down the road.
Looking forward to learning from others and willing to help others with my Appfolio knowledge if needed.
Thanks