How to Find a Good Property Manager

[@CommercialPropertyAdvisors]

Every successful commercial real estate investor has a mentor. Get your mentor here: www.commercialpropertyadvisors.com/protege-program

[@DanKohan]

I've been in your shoes, wondering where to start. The tip is smart - asking people you trust for advice is gold. This video is good~!

[@JeffCrowell11]

Excellent, sound advice here. Thank you.

[@CommercialPropertyAdvisors]

My pleasure!

[@EC4400]

Great points. Thanks Mr. Harris.

[@CommercialPropertyAdvisors]

Glad you liked it!

[@r.5108]

very informative, highly intelligent teacher. keep up the good work.

[@roadtoscratchgolf3481]

Excellent advice in the video. Thanks for sharing. Cheers.

[@smaggies]

A great thanks for this video, within a few weeks, I'll be chatting to the current PM of a property I'm currently within a 1031 Property Exchanges. I will do my best to fallow your footsteps with Interviewing and asking questions of the expected services and hopefully learn the don't onw any land within the Shopping Center of the purchase of building... will keep fallowing forward with your videos, thanks

[@joshmccarty8565]

You make some great points in this video. I'll utilize this approach when seeking out PM for future deals. Thanks Peter!

[@CommercialPropertyAdvisors]

You're welcome. Thanks for watching.

[@bellah.8796]

Thank you, Peter!

[@yonmoore]

Great video. Question: do you think there's any way to align the financial incentives of both property owners and property managers? We just had to fire our PM because the vacancies were eating us alive. We were penalized heavily for those vacancies while the PM only lost a few hundred bucks.

[@CommercialPropertyAdvisors]

Well spoken. Ultimately, what we have discovered is that you have to manage the managers and stay on top of them because even when you think you have better financially incentivized them, it doesn't always solve the problem because they may be happy with earning less money.

[@yonmoore]

@@CommercialPropertyAdvisors that's a good point and is also what we've concluded. For the scale we're at now, having a PM wasn't saving us any time and none of our tenants (including the ones who always pay on time) enjoyed dealing with her. It's been less than 2 weeks since we took things back over and already have 2 out of our 3 vacancies filled, soon to be 3 out of 3.

[@CommercialPropertyAdvisors]

@@yonmoore One of the most frustrating weaknesses of many property managers is their poor marketing of a vacant unit. Not only do they oftentimes do the least amount of exposure, they also don't use professional pictures that are digitally staged. And then that produces fewer applicants to choose from so you end up with the bottom of the barrel tenants. Meanwhile, great vacancy marketing creates a ton of applicants and you can have the pick of the litter, which helps your units to perform optimally.

[@yonmoore]

@@CommercialPropertyAdvisors yes and a big eye opener for me was when I learned that showings were not happening nights and weekends when most working people are unavailable. So even fewer applicants to choose from, to your point. Crazy.

[@JamMaster0011]

Do you have a book to teach how to wholesale commercial real estate step-by-step?

[@CommercialPropertyAdvisors]

Absolutely. Go here: kzbin.info/www/bejne/b4vVkoqkpLqSn80

[@senecakamau4105]

Peter, should we invest now with interest rates at 7.250% for 30yr fixed mortgages??

[@romeodanais2868]

Buy now, 'cuz they're not making anymore real estate. Labor & materials will always be more expensive as time moves along. Whatever price you pay today will more than likely be higher a couple of years down the road. Plus, I have personally had mortgages as high as 11 ¼% - believe me, 7 ¼% is not that high a rate.

[@CommercialPropertyAdvisors]

Watch this video: kzbin.info/www/bejne/qoGrcpqaj5iUnLc

[@sharkonland36]

How much should you pay them? i.e. fixed $50 per unit pm or say 10% of rental income, so 1200 per month, they get 120 pm. ETC . P.S. Im in NJ pretty close to Manhattan.

[@Rimshtouqeer]

Hi I would like to recommended my services AS a assistant for the management of property I have been working for the real estate company in NJ.My rates are affordable so let's discuss more. Thanks