Updated: Feb 3
At Real Property Management we see people from all walks of life who want to take on the opportunity to open a property management business in their local community. However, we often get asked, "what's the most common background and experience before an entrepreneur becomes a franchisee?" Well, not surprisingly, the #1 common trait across all RPM Franchisees is that they are a real estate investor or have a deep passion for understanding the real estate market.
They've been through it!
Venturing out into the world of real estate investing can be an overwhelming and daunting achievement. There are horror stories of "bad landlords" or "Tenants destroy rental property!" and success stories of how people build wealth and create financial security for their future. It's an experience that can never truly be explained unless you've been through it. But that's when the lightbulb was turned on for some of our franchisees. As they were working on their own properties, they saw inconsistencies in the market and gained experience by working with their own tenants and have seen the chances of improvement to better their communities. These are the marks of a great property manager, so for many real estate investors making the switch of career is not really a big switch at all. Partnering with a franchisor like Real Property Management is utilizing your own background and experience while taking advantage of proven systems and processes to further your passion for the real estate market.
A passion for real estate
With the variety of investment options available, why do many want to enter the real estate market? It involves full-time management, (literally) hands-on maintenance, and the potential to wake you up at 2 am on Tuesday for an emergency. Yet, with all the late-night calls and upset tenants, the best real estate investors want to keep going. Simply put, many of us have a strong and almost uncontrollable love of real estate. For some, it's meeting great people and exploring new properties; for others, they have cracked the code on how to create passive income. For RPM Franchisees, it's creating the connection and community within our local neighborhoods. There are several reasons why someone wants to get into real estate investing, but the most passionate want to do it for others too!
If reading this article sounds like you, the next natural question is "where will I get my customers?" Well, the good news is you most likely already know a couple to get started. It is no secret that real estate investors love to hang out with other real estate investors. Through organizations like REIN, landlord associations, and even realtor groups, you will most likely find that there are quite a few investors in your area! However, that question is an entirely valid question when starting a business in any industry. That's actually where many of our franchise partners have started and why they wanted to reach out and find out more about franchising with Real Property Management.
Real estate investing is a world with many questions and sometimes hard-to-find answers. You may be one of the fortunate ones who have gone into the market and made some stumbles along the way but are now living comfortably with your investment decisions and can even help others achieve your level of happiness and success. This is what truly makes for a great property manager and an even better business owner. If you have an uncontrollable love of real estate and want to start helping others reach out to us today to get started!
Interested in learning more about the property management industry and joining Canada's only franchise in this space? Fill in our quick contact form and our franchise success team will each out to you.