Nurse to property management company
Hey guys, I’ve been buying and rehabbing houses since 2019. We currently have 10 single family properties in the best school districts and we self manage. We screen heavy and have never not got paid. I also work as a RN and looking to transition to real estate full time eventually. I really love RE and am wanting to do something that I am passionate about and would compliment my current goals in RE. For those that own property management companies can you give me any insight on what starting one up would look like and your honest opinions of the property management business these days. Thanks
John J
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- Property Manager
- Royal Oak, MI
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@John Matthew Johnston 80% of the time, it's a thankless job:(
You're never fast enough for complaining tenants, nor fast enough or cheap enough for owners.
To have any chance of success, you have to be extremely organized, or every day starts with your hair on fire!
You'll need at least 125-150 doors to make a decent living, but you won't be able to afford much help.
Leverage technology early and put everything in the cloud, so you can access info wherever you are.
Make sure to get properly licensed and obtain E&O Insurance. Also make sure to have owners add you to their property insurance policies, so you have liability protection.
Good luck!
- Drew Sygit
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- 248-209-6824
