How to make $10,000 a month without owning any real estate

Doug Depte
Nov 2 · 2 min read

Would you like to build generational wealth for your family? Property Management can be the bridge into a better life. You can start this business in 30 days with potential to earn 10,000 dollars a month with less than 1,000 dollars in start up costs.

By managing properties for landlords, you’re lifting a huge weight from their shoulders. For you this means any concerns a tenant has with the property will come directly to you. Essentially, the going rate for this service is 10% of the monthly rent. For instance, if a tenant pays 1,000/month for rent, as the management company you will receive 100 dollars a month from said tenant.

Now you’re probably asking yourself, how do I find landlords/properties to manage? A way to grab anyone’s attention is to offer your services for FREE. Stay with me ( I don’t want to lose you). In the real estate industry every one is looking for ways to save money. Offer your services free for the first month or two but make sure you receive a six month to a year commitment. Remember, experts make money on the back end.

You will want to make this process smooth and seamless. Automating your business will make this possible. With that being said, you need to identify which software you will need to collect rent, manage maintenance requests and ways to communicate with tenants.

Now start building your all-star team. For your property management company, you will need an eviction lawyer, realtor, and a handyman (contractor). These team members will only be paid when they are needed. Keep in mind, the landlord pays these services, not the management company. In most cities, to own a property management company you will need to be a licensed realtor. Don’t let this fact discourage you. It shouldn’t be a hard task to find a licensed realtor willing to partner with you on your management company.

Let’s recap: Acquire 100 clients that pay you 10% of 1000.00 monthly rent. Congratulations, now you’re making 10K/month base for owning your property management company.

Now you’re well on your way to generational wealth. Don’t forget to market, market, and market some more.

Thank you for taking the time to read my article. If you’re interested in furthering your knowledge on real estate and spending the day with me increasing your possibilities on growing generational wealth, don’t hesitate to review my website: www.ridealongwithdoug.com

Doug Depte

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