#147: Simultaneously Growing A Management Company, Brokerage, and Multifamily Portfolio + How To Work with PMs with Mark Updegraff

In this episode, I sit down with Mark Updegraff, a multifamily investor, real estate broker, and property manager based in Rochester, New York, to discuss his journey into the multifamily business.

Mark shares his experiences and insights into property management, including how to vet management companies, how to work with them, and what their true profitability looks like. They also discuss why Mark decided to become a broker and start his own management company and how he split his focus as he grew his business. This episode is perfect for those thinking about getting their license, building a brokerage business, and how you can balance this growth with building a portfolio.

Show Notes:

• Insights into property management, including how to vet management companies and effectively work with them
• Discussion on the true profitability of management companies and the financial back end of a healthy property management business
• Why Mark decided to become a broker and start his own management company
• Tips on how to understand a management company's processes and operations to ensure your property is being well-operated
• How Mark split his focus as he grew his business and what he would do differently if he had to start over.

Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.

Are you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.

Join Here: https://alignedrep.com/investor-application/

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Connect with Mark:
www.razecapital.com