Tips on Business Growth
Last week 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 Ed. and Community Colleges to present.
- Join Toastmasters and then start giving free talks to Service Type Groups.
- Go to www.dca.ca.gov and www.courts.ca.gov. They have outstanding articles on the following topics that you could give to owners/prospects.
- Trust Fund Return Deposits
- 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 when I was the General Partner.
- Work hard and stay focused. Prioritize and spend time each day on prospecting.
- Visit Investment groups.
- Become a Broker.
- Some things I did when I was starting:
- I taught nights at UCLA to get prospects.
- Wrote a weekly column in the Daily News.
- Spoke at Apartment Management Association conventions.
- Contacted large real estate companies to refer me PM prospects if they did no PM in-house.
- Mailed postcards.
- Contacted attorneys for court receiver work.
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