How To Build A Property Management Company

[@SteveDaria]

Interested in Rental Property Management? Check out this step by step course! 15% OFF using code: RENT steveinvests.mykajabi.com/offers/9rcgf6v9?coupon_code=RENT

[@FinancialFreedomLifestyle]

This was a lot of good info. Thank you Steve.

[@rentospropertymanagementso4895]

The importance of property management is very well explained. Thank you.

[@SteveDaria]

Thank you 🤙

[@GilbertM3]

Applying these methods tonight !! Just emailed 150 plus agents with listing on the market over 90 days ( a long time in my local market)!

[@SteveDaria]

Awesome work Gilbert! It’s all about implementation 🤙😎

[@freyachandra1869]

Wow, this video is unlike anything I’ve ever seen before! Keep up the super awesome work!

[@reyt.3352]

Geez , what a good vid man. I really appreciate the info. Seriously

[@SteveDaria]

Thanks Rey 🤙

[@alanperez8088]

Thanks for taking the time and sharing some nuggets!

[@dailymailboxmoney2563]

Great video could you also do a video on how to start a property management? The steps to put the company in place and how to get your first client.

[@tw2800]

What is the net on the $16,000 month example? The gross of $192,000 annual sounds real impressive, but what is the overhead....Net income please

[@edgargascon4087]

Awesome content!! Just getting started in PM this year

[@SteveDaria]

Nice! Much luck Edgar 🤙

[@ladydede88]

I’m going to get my real estate license and this is what I want to do. It’s only a few in my area. Wow this was full of great info

[@SteveDaria]

Thanks for watching and much luck to you DeDe!!

[@nickg3794]

Average rents here is half of $1,600. 10% is going to be tough to get the volume needed to make it worth it. Getting the business plan together

[@SteveDaria]

Is that every area? Or can you take on multiple areas, some with higher rents? Sometimes more economical areas can work well too with less turn over.

[@nickg3794]

@@SteveDaria There are more affluent areas around, bit those are newer owner managed/already managed properties. It's something to strive for though. Been in property management for 15 years (For a corp PM company), construction/remodeling before that in 2008 before the crash. I want to mesh the 2 together. I have 4 doors myself but finding properties at a cost level that is profitable has been tough. Was pondering this path due to my connections in the industry and with investors. Researching to see if this is profitable enough for the work load, as it seems volume based. I always ask myself, if I delivered pizzas part time (no risk) how much would I make per year comparable? Fun exercise in reality 😁

[@SteveDaria]

Yeah. Many pros with property management. Keep in mind you can make commissions selling to investors and tenants also purchase. 🤙🤙

[@BubbaThompsonRealtor]

Great Video! In our area, we typically see 50% of first months rent.

[@senifurrr8627]

Can I have a property management company as well as be an agent at another brokerage at the same time?

[@vakistagoodman7984]

Just got my property management license in SC just because I enjoyed managing my own STRs I wanted to do others. But the more I’m looking into it I’m realizing it’s going to take a lot of clients to make good money. Any ideas of other avenues in the PM world to explore. I’ve been advised to just get my real estate license.

[@SteveDaria]

Yes. RE lic. Home watch if in a seasonal area.

[@SuzanneHenderson-Bay]

Lovely video! Do you recommend the use of any PMS?

[@SteveDaria]

Door loop is pretty good 👍

[@cuzcohusky3533]

Thank you so much I’m new to the game.

[@SteveDaria]

Thanks for watching 🤙😎

[@plutonium9]

"Watch the video to the end for exciting information" is just like saying "Go ahead and click on the X at the top right of your screen now"

[@ab9388]

Very informative, thanks!

[@SteveDaria]

🤙🤙 More on that on my other channel The Distressed Agent

[@WorkoutByWilson]

Thanks for this information it was so helpful. I will continue to watch your videos on Real Estate 🏡

[@WorkoutByWilson]

Steve Invests no I am actually into Marketing. Specifically Digital Marketing and Research. I’ll comment with my other channel as well you can subscribe ✅

[@digitalmarketinglatest]

Here is my other channel. I own a Digital Marketing business called Creative Minds. Real Estate is nice, I will look into it ✅😁

[@Wesleyrealestate]

Amazing video! Since this was posted a few years ago what are your views on starting property management now in todays market and what marketing strategies would you use today to get new clients? I am a licensed agent/Investor in Southern MD.

[@SteveDaria]

Thank you. More than ever before. Market shift. People can’t sell. Upside down on their mortgage. Alternative rent it out 👍

[@Wesleyrealestate]

@@SteveDaria Thank you for the reply! Any marketing strategies you're using today that work better than before to onboard new clients?

[@justinawan3560]

Steve. I am managing 34 single-family in all over south Florida for seven years including 11 ware houses, outsource Pakistan and want more landlords needs your help.

[@SteveDaria]

Great work 🤙

[@faviof7431]

How is the schedule like for a property manager, is it flexible or is it closer to a 9-5 job where you need to be in the office everyday. Any info you can give on the work flow of a property manager And if it can be a side job... THANKS, and GREAT VIDEO.

[@SteveDaria]

Thanks for watching Favio. It really depends on your team. If you’re a one person show its 24/7. But if you leverage a team as well as sub contractors, you can streamline it. I’ve got a comprehensive course hitting in about 5-7 weeks on this. Stay tuned 🤙😎

[@economiclifestyleinvesting9884]

This is a great video, I’m looking to learn as much as I can on real estate so I’ll be checking your channel a lot 👍. Great beard by the way, it’s solid 👍👍

[@SteveDaria]

😂 thanks

[@MobileHomeGeek]

Awesome video!! Sooo many options as a new RE agent!! Thanks for sharing

[@SteveDaria]

Thanks again for watching Ryan. Yeah there are a lot of ways to make a great living in real estate. All about focus on a niche.

[@abhishekbhandari2366]

I am new in property management. How can I find more property to lease. Which software is good to keep the properties and data updated.

[@Muldoonassociates]

Good Info Steve!

[@SteveDaria]

Thanks 🙏

[@tonygutierrez5208]

Great video, I recently got my CA real estate license and would like start a PM business. Should I work for PM company first? If yes any recommendations?

[@SteveDaria]

Nice 👍 I’d look in your area and see what agent or brokerage is hustling most of the rental listings. And talk with them.

[@vanessamcgill562]

Steve you need a Broker to do this correct? One must get the Broker permission?

[@SteveDaria]

Hi Vanessa. You should check with your state laws. In Florida to do leasing for annual rentals you need a real estate lic and under a broker. Short term (vaca rentals) under 6 month stays you do not.

[@nicholascooper8843]

Hello Steve, What needs to be in place to start the Property Management Company? What systems, etc, I am talking about techwise? Background checks - how do you do this or how do you buy a system that does this? Credit checks - how do you do this or how do you buy a system that does this? What or where is that open market where I can have my presentation presented?? I KNOW I AM ASKING WAY TOO MUCH NOW - DO YOU MIND SHARING YOUr PRESENTATION ON YOUR CHANNEL? OR IF YOU WANT CAN YOU EMAIL YOUR PRESENTATION. I have a full access to MLS and Realist. I am learning so much from your channel that's not even funny. I have sent your channel to my budy who teaches Economics. One last question for you is what watch ware you wearing here? I am guessing Breitling!

[@SteveDaria]

Appfolio and Buildium are two great platforms. There are many all in one that can handle background checks, etc. I HIGHLY suggest you get with a good broker who is experienced with leasing / property management and have a good RE attorney on your side. There are many lawsuits in discrimination, etc. And you do not want to be part of that. If this is your focus go work with an experienced team. Start there. You got to get in the field and begin. That is going to contribute to the biggest lessons learned in this biz. Thanks for watching the vids and I appreciate your support. As for the watch no. I’m not too fancy. Most of my $$ goes into investing.

[@MiamiMorslav]

Steve, thank you for the video. Great information! I have a specific marketing question pertaining to vacation home owners who are not often using the property, more and more I see this in my area due to the happenings of the last couple of years. I think a lot of these people are under the impression that renting their property out would be a headache and so they might sell reluctantly, even knowing that the land is going to appreciate in value. How to find these people?

[@SteveDaria]

Thank you 🙏 I would find an area of high concentration of absentee owners.

[@danielagalvan9166]

Awesome content. Do you think this is possible/do-able when you first get licensed or would you recommend getting experience by working for a company first?

[@SteveDaria]

Hi Daniela. There is always a level of liability in leasing property. So getting with a company or broker who already is leasing real estate maybe a good plan especially if you are green to the biz. I’ve got a course launching in about two weeks as well that goes much more into detail. 🤙😎

[@gregmoyer8339]

Hey Steve, awesome video! So question ... I may be missing something, but how many employees does your company have? Isn’t managing 100 properties alone a challenge? Especially if there are issues with a handful of the renters? You said in 18 months you could obtain 100 landlords... this is alone? Thanks in advance!

[@SteveDaria]

Thanks Greg. Yes you will need a team to handle 100 properties (and less). Many of them can be outsourced. IE handyman, cleaners, contractors, other agents helping to show properties for lease. Other than that hiring an assistant part time once you need it. You’ll know when you need the extra help as you grow.

[@petersonv9535]

Hey Steve I came across your video today and learned your from fort Myers as well and I plan on to getting into real estate, what does it take to be a real estate agent in Florida and our area

[@SteveDaria]

Hey. Just need to do the course and pass the state exam. Fairly easy. Real estate express link in description does online as well 🤙🤙

[@chantelcalloway6654]

Thanks ❤

[@Nirvanauser1.2.3]

Do you need a broker to apply for the license ?

[@SteveDaria]

In most states you will just need to have a real estate license and held under a broker.

[@joshingwithfish7402]

How do you set up your bank accounts to collect rent from multiple owners?

[@SteveDaria]

If you’re managing then it would be an escrow account through the brokerage.

[@joshingwithfish7402]

@@SteveDaria thank you for your quick reply! I own a property management LLC. I am not a broker. I have my license with a broker. Would you happen to know if it is legal for me to open my own escrow account to house multiple rents and disburse funds to owners and myself from that account? Thank you my friend. Love your videos.

[@SteveDaria]

If it’s your own properties yes. But if you are managing for others it would have to flow through the brokerage. Unless if they are STR.

[@forfreedomssake4315]

Nice thanks

[@SteveDaria]

🤙🤙

[@searchbug]

Hey Steve, love your content! Deserves a thumbs up and subscribe. Why did I just find your channel now? *sigh* Anyway, just wanna ask if you considered partnering with a data company to help out in screening tenants and verifying data related to the business?

[@BazzBusiness]

Great informations right keep it up man!

[@Sha-jj1cg]

I luv u I never got so much from one video 🙏🏽

[@SteveDaria]

Thanks Sha 😉

[@SteveDaria]

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[@tiffanydrake1652]

Just curious what's the most you've made in a month with this? Do you need a realtis license?

[@SteveDaria]

Yes you need a real estate license to lease real estate. However if you handle short term under 6 months it’s considered hospitality and you don’t. We averaged $15-20k a month.

[@tiffanydrake1652]

Wow, how does one get to this point with a one man show

[@tiffanydrake1652]

Thank you Steve😄

[@SteveDaria]

My sister and I grew our property management side of things. Was an excellent opportunity during the downturn in the market. Which I foresee to happen again.

[@JosueExplores]

Hey Steve, how would you apply this to commercial real estate? I'm a broker, currently have experience with retail and industrial property sales in the 5k-10k SqFt range and I see opportunity to help out the owners with more than just brokerage services.

[@JosueExplores]

Just realized we're in the same market!

[@SteveDaria]

Leasing Commerical property?

[@JosueExplores]

@@SteveDaria no, specifically commercial property management (however I have brokered commercial leases in the past)

[@SteveDaria]

Gotcha. Many times they go hand in hand. You can definitely make consist revenue handling CAM in commercial setting.

[@kenyattaberryhill6020]

What certifications do I need in order to do this!?

[@SteveDaria]

Hi. Annual leasing will require a real estate license in US.

[@leavessey7431]

Hi Steve! Where do you get your list of absentee owners? I live in CA if that makes any difference.

[@SteveDaria]

Hi Lea. Our property appraiser site provides them. Also in our mls (realist). 🤙

[@leavessey7431]

Thank you!

[@SteveDaria]

🤙😎

[@Balanceandtone]

Hi Steve, Where in FL are you located?

[@SteveDaria]

Hi Stephanie. We are in Bonita Springs.

[@howdyshub6235]

Do u need to go to school for this stuff? Theirs a lot of rental property laws.

[@SteveDaria]

Yeah. Long terms rentals require a real estate license.

[@mattmulvihill]

Great info as always! Thanks for the awesome content!!

[@SteveDaria]

Thanks for watching Matt 🤙😎

[@heathdean1469]

Hey Steve, do I have to find a broker that allows property management or I can just manage properties as a licensed agent without getting the broker involved? I have a LLC setup, can I use my LLC to manage properties?

[@SteveDaria]

In most states you will have to be under a broker. The broker assumes all responsibility. And all commissions etc run through the brokers company. What’s state are you in?

[@heathdean1469]

SteveInvests I’m in Texas, we have to be sponsored by a broker and majority of them don’t support property management bc of the high E&O.

[@SteveDaria]

I’d search what companies are strong doing rentals in the current market and align yourself with them.

[@qaywsxedcrfvtgb796]

Can I get a Real Estate License in the US even if I am a German citizen?

[@SteveDaria]

Hi Sina. I think so. But likely some extra knowledge for what exactly is needed. We have agents from Russia and UK I believe on Visas. Not 100% sure though

[@shanamitchell1597]

Hi Steve, I just purchased my first commercial land and I’m currently working with an architect to have a building built on top. I have already secured my LLC and wanted to know do I still need my brokers license to run my property management company? What about managing agricultural properties?

[@SteveDaria]

Congrats Shana! If they are your own properties you don’t need any real estate lic / brokers lic. 🤙

[@morganephriam]

@@SteveDaria just to clear if I own the building I can START my own property management company to run the building without a brokers license. Or do I need to have an existing pm company to run it if I don’t have the license?

[@SteveDaria]

If you own the property you can do what you want with it based on zoning. If you’re leasing / managing for others it may require licensing. Based on your state etc.

[@lifeisbeautiful6550]

Hi Can I run a property management company with a realtor license or I need any other license

[@SteveDaria]

Hello. For leasing and managing long term rentals 6 months + A real estate license is needed in most states. No need for a lic for short term as it falls under hospitality. Property management for an association (not leasing) requires a CAM lic. Community Association Management.

[@nighthawk5301]

I have my license. Is it possible to do this part time starting out?

[@SteveDaria]

For sure. I’d have a plan to go full time though in order to service your clients

[@nighthawk5301]

@@SteveDaria awesome! Ya for sure. That is definitely the goal. Thanks for the reply. Subbed!

[@SteveDaria]

Thank you 🤙

[@genuinediamond3843]

I like this!

[@wesammmm5432]

$1,600 a month?? Dream on. Avg rent price in cAli as of 2022 is at least 2.3k easily. Your state may vary

[@InvestingEducation]

Good share

[@bestcity0979]

Would getting a asbestos testing license put me ahead of the competition?

[@SteveDaria]

As a lease listing real estate agent?

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[@papabroda]

cool

[@SteveDaria]

😎🤙

[@mahmoudfathy7904]

So good Please I want your email.. I have a question? Thank you

[@SteveDaria]

[e-mail]

[@piguy8978]

Have you ever wondered the difference between great music, great videos and real estate? Subscribe to our page and find out. Lol.-Piercing Instincts