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kimanillc

posts: 3

Feb 10, 2009 9:54 AM ET Quote Report Abuse

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Does anyone know of any excellent grant / lending sources for startup capital for property ownership? My goal is to start a small property management company.

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Kimani LLC

robertj

posts: 1458

Feb 10, 2009 1:25 PM ET Quote Report Abuse

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Do you have the necessary licenses for property management?

Or are you trying to buy property to manage?

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

kimanillc

posts: 3

Feb 11, 2009 9:25 AM ET Quote Report Abuse

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I have worked in commercial property management on the administration side for nearly seven years. Currently, I am one course shy of completing the coursework for the Real Property Administrator (RPA) designation from BOMA (Building Owners and Managers Association). Soon, I will have my IL salespersons` license (eventually becoming a broker) and should complete the coursework for the CCIM (Certified Commercial Investment Member) designation. Both are leading commercial real estate professional designations.

My goal is to start my company small and gain working capital by buying and managing residential property under an LLC; eventually growing my business to incorporate commercial, industrial and retail properties. Additionally there are other areas that I would like to take my company. By the way, I am also currently taking classes toward dual masters in Business Administration and Project Management.

I am in the midst of working on my business plan and starting my LLC. What I would like is to find funding vehicles to start buying properties. I am optimistic about the new stimulus package that may come about. Do you think that it will include monies for small business and/or funds for property ownership?

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Kimani LLC

FastVentures

posts: 306

Feb 11, 2009 12:18 PM ET Quote Report Abuse

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Sorry to be once again the bearer of bad news.

What you’ll need now more than ever is equity when it comes to purchasing any type of real estate.

Following your line of thinking would ultimately mean that we carry on exactly where we left off. A good portion of the stimulus package is designed to thaw the credit markets, but if and when that happens, you’d better be prepared to deal with rather strict lending criteria.

What you’re hoping for is that the government is going to write you a check so you can purchase real estate with no equity of your own and a non-conforming credit profile (zero credit history).
It’s not going to happen!

If you really want to get into this business, you will have to start out small, buy one property & turn it around, build a track and credit record, and perhaps later on get investors on board to help you finance your deals.

I hope this helps.

Mark

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Jackson Steiner
http://www.JacksonSteiner.com

Advanced Document Design for entrepreneurs, intermediaries, and the financial services industry.
http://www.Publications.FastVentures.com

kimanillc

posts: 3

Feb 11, 2009 5:19 PM ET Quote Report Abuse

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That is exactly what I am thinking about. Starting small, possibly with one property and building both capital and my credit record. Perhaps my best bet might be with first-time home buyer programs or the like. If you have information about programs such as that, I would greatly appreciate your sharing.

Thank you.

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Kimani LLC

nick3055

posts: 23

Jun 08, 2012 12:29 AM ET Quote Report Abuse

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Hi, nice thread!!! I think people are looking for these kinds of management tips to get them a good property for their business. I also bought a small land in my downtown with the help of retail Management Company. I think before making big deal it’s good to consult with professionals.

grand rapids retail property management

jeeny

posts: 1

Jul 27, 2012 2:52 AM ET Quote Report Abuse

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For a new property management company you need to keep in mind some points which are generally followed by The Property Management London Companies

Looking out for tenants and managing their actions.
Handling of the legal issues like getting claiming insurance.
Maintenance and Remodeling of the property, this comes under ground level activity.
Suggesting different clients for buying and selling the properties.

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