Looking at acquiring a Residential Property Management company

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by a searcher from Western Michigan University - Haworth College of Business
in Novi, MI, USA

3yrs ago

Looking at acquiring a Residential Property Management company

Hi All -

Looking at a few single-family residential property management companies for sale

Any searchers here recently acquire a management company?

Looking for any tips on pre & post-LOI due diligence

Thanks!

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reply by a searcher 3yrs ago
from University of Southern California in 1 World Way, Los Angeles, CA 90045, USA

Great opportunity. ^redacted‌ is right on the money with the broker plus property management. Keep in mind some states do require a brokers license to run a pm company. They are generally simple businesses. Key is lots of software/automation and having the right mix of vendors who are responsive. Boom you have a cash cow. Happy to chat as needed. Have never owned one but hired and fired a half dozen or so.

reply by a searcher 3yrs ago
from Western Michigan University in Novi, MI, USA

Thanks Wiley, appreciate the feedback. No problem there as I'm eligible for a brokers license given my real estate experience in a different sector, Will likely take you up on your owner perspective down the road.