Long story short, It looks like the fiance' is going to be In College Station for a very long time. With the very thick rental market in College Station it seems like it would be a good place. It also seems like it would be low risk, and the growth would mostly be determined by my hard work.

Is anyone in this game elsewhere? Whats the downside? Is 6% of revenue a good price for that service? That seems like the necessary revenue to make it work.

[This message has been edited by OverR (edited 8/7/2011 4:12p).]

Are you talking about buying a house and after your wife leaves College Station using property management? While she is in CS? I got a little confused there.

Somewhere around 7% is the average.

Looking at getting into property management, not owning the properties(immediately).
Sorry for any confusion. Seems like I could make a decent living after a few years.



[This message has been edited by OverR (edited 8/7/2011 7:09p).]

You'll have a hard time recruitig clients without a history. Most people will want someone with a proven track record. Especially if they are out of town and the rental is here.

There should be others here wit more insight. Best of luck!

Lg, gotta get that somewhere.

I pay 12% for a fourplex in bryan, but they take care of mowing, minor repairs, move in/ move out cleaning, evictions, and no additional lease fees.

They take care of all that for only 12% or less those costs?

I was planning on doing all those things as well, but not for 12%

I hired a property manager in College Station for my house in March with a 98% occupancy rate. Cost was half the first month's rent and 7% thereafter, and of course I foot the bill for maintenance and upkeep but do nothing beyond sending a check if need be.

She also worked as the general contractor for the initial reflooring and super renovation of my house once the previous tenants moved their butts out at no extra fee.

She is a blessing. Good luck.

[This message has been edited by 713nervy (edited 8/10/2011 2:25p).]

Deserteagle, could you send me your property managers info? I may need someone to manage a 4-plex in Bryan fairly soon. cwscott at tamu.edu

^^^ This didnt go as planned.

Do at least 7% man, that is cheap

713nervy,

Will you please post or email me your property mgmt information?

Thanks!

Maryd@bcrbs.com

She works with Brazosland Classic Realty, and if I am not mistaken, BCS Realtor can vouch for her as well.

I can vouch for Mary. She is one of the best, if not the best, at what she does.

OverR... I wouldn't get discouraged by this thread. The biggest opposition will be your experience and your knowledge. What you may think about doing is becoming a leasing agent. You will create contacts, get to know the system, and become familiar with the area and the competition. It may not be what you want to do right now, but could help lead to what you want to do in the future. Good Luck!

OverR,

First, I want to wish you good luck in your endeavor.

My immediate thought: Are you a licensed broker or sales associate in Texas? Just trying to keep you out of trouble. It's a pretty big no-no to offer those services without being licensed in Texas. I would advise Champion on-line school if not, and second the motion to seek a job in leasing. You might even reach out to mazag08 (a leasing agent who frequents TexAgs) for some more direction.

They take care of all of it for 12%. Basically $250/MO. The only real charges I have had other than the management fee in the past 2 years have been a couple plumbing issues and for HUD compliance a handrail had to be added and they charged me for materials only.

CS78, I emailed you.

Can't speak for CS, but why not just buy a house? If she's your fiance and she's going to be there awhile, just buy something for her to live in. Rent it out through a property manager when your fiance moves.

My friends in Houston have a rental property that is managed through a property manager. They were charged the first month's mortgage plus 8%/month.