Quote:
Originally Posted by epbrown
Here in KY, you can manage a property you own with no credentials but to manage other properties you need a real estate license and a bunch of classes in property management. Pretty much all the classes are about legal issues. Talk about alarm bells.
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In Ohio, same requirements.
The fly in the ointment is finding a Broker willing to put his E&O insurance at risk by allowing one of his agents to do property management.
The answer of course would be to get your broker license as soon as possible. Quite a process to get to a different end.
I have a 40 unit, a 4 unit and am acquiring B and A class SFR's at a brisk pace. These B's and A's are essentially self managing. They are brand new rehabs, occupied by millennial's, whom pay the rent with their iphone. On the rare occasion when they are "late", they much prefer to click on "add late fee" than to have a conversation with me. When I was in SoCal I had a gal pay a $90 late fee every month for 2 years before she finally moved out. I don't mind the lates and I don't mind the extra money. Whatever. It's just a part of it (the buy and hold game)...
My advice is beg, borrow, and (almost) steal to get private money and buy and manage for yourself. Learn about syndicating. Network.
There is a ton of money out there. Go find some of it.
DL