Annual Revenue: $888,397
Net Cash Flow: $193,350
Location: Ulster County, New York
This is a residential real estate property management business that has generated predictive income for over 10 years. Currently managing more than 75 properties, for more than 20 different owners. Units range from single family homes to 6-family apartments. This office has maintained an excellent reputation based on providing personalized service. This firm offers a full range of services for landlords, from turnkey management services to rental service only, and maintenance service only. This office has Standard Operating Procedures and documentation developed to be successful in the property management business. The current owners will offer training and ongoing support. Seller’s business model allows for two separate income sources. The first income stream is from property management, the second is from property maintenance. As the property manager, the Seller collects Rents Due and deducts their percentage for services and maintenance costs. The balance of collected rents is paid to the owners of each managed property.
The current owner is a motivated seller looking for a semi retirement.
The buyer DOES need a Real Estate Brokers license to manage this operation. Possibility of operating under current owner’s license wile obtaining a NYS Brokers license (terms to be negotiated, if needed).
The office space is established and is approximately 1000 sq ft. The Seller owns the building. Will offer favorable lease. Possibility of purchasing the real estate can be discussed for the right buyer. No Franchise fees.
Training & Support:
1000 sq ft office in Nice location. Owned. With other tenants. Could be included. Will offer favorable lease.
Growth opportunities are to add more clients. Possibility of adding Real Estate Sales Office. Adding more clients on the maintenance side. Expand maintenance work to be done “in-house” and not subcontracted.