Business Summary:
Established in 2004, this Property Management Firm operates throughout the Milwaukee area, offering its services to property investors in various neighborhoods and communities. This company provides a range of services including rent collection, maintenance coordination, violation monitoring, tenant screening and evictions. The company primarily serves property investors who own duplexes and single-family homes – the top investor holds 9 units while the remaining vary by owner. Currently, they manage 100 units with additional units in the pipeline. The company operates from a 1,200 sq ft furnished office space, providing a professional environment for conducting operations. The team consists of 1 full-time secretary and 1 part-time office assistant. Additionally, subcontractors are hired as needed when maintenance is required by current tenants. As part of the seller’s divestment strategy, they are looking for a successor to assume operations. This presents an opportunity for an aspiring entrepreneur or an existing property management firm to acquire an established business with a solid client base. The seller spends approximately 15 hours per week in the business, providing light oversight and coordinating subcontractors for unit repairs and renovations and has offered a training period of 6 months to 1 year - ensuring a smooth transition of operations to the new owner. There are several growth opportunities for the potential buyer, including increasing the number of rental units under management, investing in additional units outside of the current investor pool, and implementing a marketing strategy. These avenues present potential for expanding the business and increasing its profitability. Priced at $1,260,000, this acquisition presents an attractive opportunity for individuals or firms looking to enter or expand their presence in the property management industry in Milwaukee. A 15% down payment of $189,000 returns $226,270 in the first year after debt payments!
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