Can anyone recommend me to a well known property management company in Texas?
Where in Texas are you? I am in Houston, I can tell you that I use http://www.complete-property-services.com/news.html
Perfect! Bluemoon06. I live in California and planning to buy an investment sfh in Mesquite or Forney Texas. I will give this property management a call Monday to get more information. Is there anything I should be aware about this company? I suppose you are happy with their service.
As I said I am in Houston. These guys were once employed by Enron. Everybody has an image about Enron, but one thing that everybody can tell you is that Enron hired very smart people. These guys are smart. They actually have a team already. The team includes bird dogs, real estate agents, mortgage brokers, real estate lawyers and CPAs. They can help you find deals close on them and these deals cash flow even with the management fee.
I am in the middle of a plan with them to buy 20 single family houses (about $2million) that will net me about $6000 per month. This is including management fees. We are doing this as we find houses that fit the requirements. These guys know the market and what it takes to get the returns.
2 million! That is type of deals I want to get involved in. Why do they just do property management? It sounds like they have their own business going on as well. Or is property management just one of the things they offer.
What they have is what’s called an active buyers group. This is a group of people that are pre-qualified with credit, capital, and have goals defined. This is so that when a bird dog presents with a deal meeting the specified criteria, they can close within a couple of weeks to a month. They realize that if they can create a market by facilitating people like me finding investment properties it will increase their business.
This group gives Complete-Property Management such credibility in the area, that anybody that wants to move a property calls them first because they always have an active buyer on hand. Frankly they do have some fees that make it hard for me to flip the properties that they find, but all of the houses they have brought to me cash flow (greater than $300/month), are in good rental areas (low vacancy rate/rent fast), and take little fix up (average $3,000) I am right now focusing on building my critical mass (about 20 $100k houses) so their program fits into my strategy. Once I get my critical mass, I will change my strategy to the next phase.
If you know of anyone else who wishes to purchase more investment property in Texas…I have a duplex and empty lot next door for sell. Duplex completed about 6 months ago and 3/2 and 1 car garage…1410 square feet per side…good location
jlayne where in Texas is it?