Trips for Finding Prop Mgmt Co Willing to Rehab?

Question

I'm not even sure if this is possible, but I figure I'll ask: Are there apartment management companies that will coordinate the fix-and-rent, so long as I'm willing to fund it? For example, I purchase a run-down complex, hand it over to the property management company, and they fix up the individual units, and then rent them out, and property manage the site for me.

If this is possible, how do you go about finding them? Any tricks? I'm looking to do this out of state (if that helps).

PS - the original description should say TIPS For Finding...

If this is possible, how do you go about finding them? Any tricks? I'm looking to do this out of state (if that helps).

PS - the original description should say TIPS For Finding...

Drew Sygit · Answer

@Amy Fulbright we help investors find properties or manage and rehab ones they find.

So, yes it is done all the time:)

Would recommend requiring videos of work progress & completion, find your own 3rd party inspector to check on the work and if the project size warrants it, be prepared to fly out and personally inspect work.

Jim K. · Answer

In no way am I disparaging @Jeff Copeland and his business model by saying that you should make sure to do your due diligence before investing in a one-stop shop like this. I suggest you read up on the Morris Invest debacle. @James Wise has conducted the most thorough private investigation of this scam to date and has published multiple videos on his findings.

Whitney Hutten · Answer

@Amy Fulbright Yes, there are companies that are vertically integrated like this.  I do like that for single-family homes (remember, scale can cut both ways!).  For apartment buildings, with the number of units, I'd prefer to pay the PM to oversee construction as a separate entity. If you do go the one-stop route, be certain to interview the PM as the pm, GC, and construction company... really dig in and take a look at their work.

Jeff Copeland · Answer

This is pretty much exactly our business model here in St Petersburg, FL

(Brokerage > Property Management > Rehab & Reposition)

So they do exist!

As far as tips, I suppose you'd need to narrow it down to a particular market first, and then start asking around on BP, and making phone calls to local brokers, PMs, and GCs.

Trips for Finding Prop Mgmt Co Willing to Rehab?

Trips for Finding Prop Mgmt Co Willing to Rehab?

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