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I'm a commercial property manager myself, and I think these are excellent tips. I know this video was made a few years ago and would love to see your opinion about how software has changed the industry - especially new, super-powerful options like DoorLoop. Thanks!
I have learned so much from you in just a week, unlike other youtubers that covers this topic, you come across very credible and really targetting the points. Thank you kindly for this invaluable information, you've gained a new subscriber.
Peter, When I watch your videos, I see the future. Someone I would like to be, A person who knows the in's and outs of Apartment investing. I have read alot of books on real estate and commercial real estate investing, but none of them come close to your videos. You have a gift of breaking it down to the most simplistic form, and more importantly, you have a way of making it seem not as scary as people build it up in their minds. Thanks for sharing your knowledge. It will be vital towards my future success.
Honor your perception. Its true. I fired one who would not return my calls, and who cleaned my rental that my tenant left in bad condition, before taking pictures to show me. And charged me for the cleaning, among other offenses.
One question I would ask is what type of Operational Software do they use. I have researched and talked to many PM companies and those who use AppFolio were very happy with that system.
+relentless kst No, but it can be profitable business when you scale it. The first several years can be a ton of work to get to the break even point and then once you really scale it up; you can get a small equity position in deals in the properties you manage. It is VERY common that big box retailer developers develop the property, lease it out, sell it and then manage it.
Peter, thanks for another excellent video. Can you give an example of the top discussion topics in a recurring weekly meeting? if everything is going well, do you still have the meetings? Thanks again!
Hello, I enjoyed your video very much. Question? Where do we report our property manager if they were doing illegal things with our property? I'm the treasurer of my HOA board and they are not following our CCR's, ByLAWS, and their contract agreement.
Hi. one of your last comments. " if something goes wrong" things go wrong all the time in the Apartment Business. Especially in California. The courts are very Liberal in ca with other people's money.
When you say you can build a fortune with "one" property manager, I had a question about that. Should we use one property manager with all of our properties (assuming they are geographically close to each other)? Or is there a common limit for as to how many properties/units that they can manage at once? Thank you for this awesome series of videos.
Thanks for sharing your knowledge Peter! Is it necessary to have the property manager/company sign an agreement with the owner stating expectations and grounds for termination. Or do you consider it unnecessary if I believe the property manager/company has integrity.
Hello. What are your thoughts about software services such as appfolio or Rentec Direct? Do you think such services are viable replacements to traditional Property Managers?
Hi Peter, first let me say, your videos are so helpful. Thank you. I wanted to ask, would it be ok to send surveys to the tenants or owners they manage for, just to get an idea how they’ll treat you and your tenants?
