How many property managers out there are really taking advantage of this "economic downturn"? I place in quotes because downturn is the last thing that the residential property management industry has been experiencing. In fact, just the opposite - we have been experiencing incredible growth. But even today with the awesome new potential the surrounds us, there are many management companies that are struggling to get new business.
Investors are the new hot pool to go after. In our area over 50% of the houses that are being sold are going to investors. 50%! That is huge and is a significant shift from 2, 3 or even 5 years ago. Having that information, how are you going after that target market? What are the ways that you can get to investors?
The best way that we have found is to start attending your local Investor Clubs. Almost every city or town with greater that 50,000 population most likely has an Investment Club. These clubs usually meet once a week or every other week and are attended by anywhere from 15 to 150 people, depending on your city size. They are attended by all kinds of investors, flippers, buy and hold, rehabbers, etc. Either way with the majority of people buying all real estate being Investors, they are key to your growth as a real estate management company. These Investor meetings are phenomenal ways to get in front of and meet your target market.
A lot of Investors have been taking on new property and likely managing themselves. Many are adding to their portfolio and getting tired of being a landlord. They like to buy properties, and not necessarily manage them. Attend these meetings and network, network, network.