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Casey McNabb
3
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3
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I want to know more about single family investing.

Casey McNabb
Posted

Hi everyone,

I am very new in property management, but I am very hungry and eager learn. I built a very successful career in collections over the past 13 years and started transitioning into real estate a year ago to get to my goal of owning my own portfolio. I started as an agent and have moved into property management after becoming familiar with the buying and selling of homes. I started with a property management company, and I am having difficulties with how some of the processes are done here. I started as a property manager trainee and have already shown great potential with the company showing that I'm ready to take on anything that I need to in order to learn how to become the best manager that I can be for my tenants and to best serve my/my client's investments. The company that I work for handles a lot of inner-city properties ranging from some single-family homes to small apartment buildings. I am coming to find that inner city homes and apartments are ranging more on the side of short-term rentals and sadly I'd have to say that the care that is given to the properties by the tenants in that time is fair at best and along with that inner city Apartments/homes are older, with age brings problems. I have already shown initiative with excelling with the owner and have already started conversations with the owner of the company to the point of him asking me to meet the CEO of our biggest clients, talking about starting acquisitions for the company, starting to implement many things to help with contracts to help our company and help protect our clients investments and fixing issues that were had with vacancies. I would really like to talk to the owner about going to our more trusted and long-term clients about starting to get more into the suburban areas that are more school focused. The reasoning that I have for that is that the one thing that will never go away is the distance that parents will go to make sure that their children are taken care of in school, along with those better schools means more well-maintained areas and higher rent costs. average rent for the homes under management in the inner city is $900-$1000 and we have maintenance people visiting a lot of properties daily. The house I live in is in one of the good districts that I'm wanting to talk to him about and the market that i want to go after ranges $1800-$3000 and with that newer homes and duplexes, better care for the property from the tenants because its thought of more as a home because of  the pricing.(people paying $2500 don't take bad care of where they live and will take on the less serious things like regular maintenance).  I do have to defend my company a little bit and say that some of the investors that we manage for are on the cheaper side and don't like to do fixes but then they expect the returns to still go up and wonder why they don't. Again, I am new to this and just want as much information that I can get. Am I crazy for thinking about bringing this to the owner? Am I trying to strive too far too fast. please just tell me. I also do not want to offend the owner of the company that I work for but i know that he is also seeing the concerns that i am because he is excited when we go over fixing the issues.

  • Casey McNabb
  • Most Popular Reply

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    Denise Supplee
    • Realtor
    • Willow Grove, PA
    636
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    962
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    Denise Supplee
    • Realtor
    • Willow Grove, PA
    Replied

    It's great that you're looking for ways to improve the business. I would bring it up to the owner. Just be careful not to make it sound like you're criticizing what they're doing now. Bring him the numbers and explain why you think there may be an opportunity in those other areas. He may see something you don't, but that's part of learning. You're new, but that doesn't mean you shouldn't have good ideas. I wouldn't worry about moving too fast if you're learning, doing your homework, and bringing something useful to the table.

    • Denise Supplee
    business profile image
    Spark Rental Co-Investing Club
    5.0 stars
    76 Reviews

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