I honestly would just like to create residual income as well as building up my net worth and I know real estate is the best way.

G'Day everyone,I never in a million years did I think I'd be writing this but life and business can be funny sometimes.So we hated property management for so long because it's a very "thankless" gig.Tenants complain things aren't getting fixed quickly enough and landlords complain that things cost too much to fix lolAnd the property manager is stuck in the middle.Long story short, we had to set up in-house property management because that was the only way in our opinion to have a successful turnkey operation.Fast forward 10+ years and "what do ya know"We love PM....The residual and predictable income.The recession "proofness" of the business model.The value it offers to both tenants and landlords.And off course the profit margins once you hit an economies of scale standpoint.We have also fine tuned our operation over the years to almost perfection and established ourselves as the #1 rated property manager in Toledo.Systemize, optimize and monetize is what we did.We are now at a point where we could like to focus on mergers and acquisitions.Yep, I kid you not lolI'd like to buy other property management companies that don't know what they are doing just like we didn't I guess for the first 3-4 years.Looking to stay close to home in Toledo to start.I spent some time cold pitching local companies but they are all too proud to reply in their incompetent management style and prefer to continue running a scam.Any advice from other PM owner folks that are more experienced/advanced than we are would be much appreciated.Specifically on how to find an owner interested in selling.Grazie mille for reading and I'm looking forward to your reply 🙏

As for the stock investors who spend little time studying, that is great for them, but have you ever considered that they could be outliers, lucky, and/or using the residual affects of years spent in the markets?

Most of your stench WILL disappear once you get food residue off the wall.

, the flip side of this is that when my wife and I moved out of our first apartment the management company kept our entire security deposit because we forgot to clean out the oven (which we only realized on the move out walkthrough, so no chance to remedy) and on our second place the same thing again, this time because there was cleaner residue on the bathroom mirror, which was not brought to our attention during the walkthrough ("the place looked great!")

Then on top of that we usually discover a heat vent covered in asbestos & full of old oil fce residue/dust, then we discover a run of random cast iron vent plumbing.

I had insurance residuals coming in so i wasn't worried about my income for 5-6 months.

Or use the residual cash flow to pay down your loans.

It is more of a job because as soon as you stop doing the deals your income stops.Buy and hold is a longer term investing strategy that allows you to build equity as well as residual cash flow.A lot of people try to utilize the former to achieve the latter.

Create more of an online platform/ website, etcIncrease the number of property management accounts that we manage in addition to our own portfolioRefinance 2 properties that we ownImplement more systemsHave enough residual work to bring my partner on full timePurchase a mixed unit property where we have office space, garages, and rental income.