I'm 18 and a newly licensed agent. I love the real estate sales transaction but I am interested in getting into property management in my area. Can I get any advice on this?
Make sure you know what you are doing and that you are truly interested in dealing with tenants which is fundamentally different than dealing with buyers or sellers. I would agree with Scott in that you would be well served to try to find a way to get some experience working under a season property management professional.
The previous answer was a great way to put it. Yes i agree definately go to your broker to see if they will practice this type of Real Estate. Property management is tough. Although you can branch from Residential to commercial. The residential part is tough. You really need a background and experience in all aspects of collecting rents, maintenance, utilities, evictions, screening tenants and listening to excuses. I started managing my own buildings and learned lessons by fire as they say. I was in the trenches. The best way to learn is to accompany someone who does it to one see if this is really what you want and to learn. If it is you will come up with your own style using the lessons you learn to guide you. Good luck.
You ask,"Can I get any advice on (getting into property management)?" The first place to go is not to the internet--but to your Broker, and here's why: The business of property management is like a beautiful field of flowers growing intertwined among land mines--the liability is huge and your Broker will be taking on all the liability you can generate. So do everyone a favor and start your training in your Broker's office.
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