Trade Tips
Somebody asked me for any ideas on how to grow a Property Management company. The answer I wrote might be of interest to other readers, so it follows:
- Join Apartment Associations and attend their meetings.
- Get your CPM designation through NAR as soon as possible. Start on the courses so you can state that you are a candidate. Go to their local meeting.
- Start a blog and become a source of info for Property Owners.
- Get a Facebook Fan Page and start a “Property Owners Group.”
- Compile an email list of owners and send a blast email monthly.
- Note apartment houses in your area that have a “managed by” sign and get owner addresses from a Title Company to send proposals.
- Arrange a One Day Property Management course for Owners and contact Adult Education And Community Colleges to present.
- Join Toastmasters and then start giving free talks to Service Type Groups.
- Go to dca.ca.gov and courts.ca.gov. They have outstanding articles on the following topics that you could give to owners/prospects.
- Repairs
- Trust Fund Return Deposits
- Evictions
- Small Claims, etc.
- Develop good building rules, policy letters, etc., to show owners you know what you are doing.
- Start to form small investment syndications and develop your own owners. I always appreciated managing buildings where I was the General Partner.
- Work hard and stay focused. Prioritize and spend time each day on prospecting.
- Good luck, it could be a good time to expand.
- Become a Real Estate Broker.
- Some things I did when I was starting.
- I taught at night at UCLA to get prospects.
- Wrote a weekly column in the SFV Daily News.
- Spoke at Apartment Management Association Convention.
- Contacted large RE Companies to refer me PM Prospects if they did no PM.
- Mailed postcards.
- Contacted attorneys for court receiver work.
- Organized syndications of apartment houses.
- Gave speeches at Realtor Associations.
- Visited investment group meetings.
- Became a Realtor to network.
- Etc., etc., and etc.
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