What to study to manage my real estate investments (12 doors+)?

I'm on the hunt for a course of some sort that enables me to manage my future properties/complexes (not house, but properties with 12 doors+).

It seems impossible to find the right course!

I've called heaps of different places, and not even the course-leaders of colleges/tafe/uni can answer my question. They respond like they're totally confused and don't know what to recommend, how can this be??? How are thousands of buildings able to stand then?

I asked them this: If you were given a property to manage as your own investment tomorrow, what would you study in order to be able to maintain the building and not let i deteriorate?

This means managing finance, finance planning, outsourcing maintenance, renting out, collect rents, know real estate laws etc. But not 1 person can give me an answer!

In Sweden (where i come from) we simply call this a Property Manager and there are lots of courses that gives you skills as a property manager to maintain your (or others) buildings, handling everything needed to take care of your business - and not by outsourcing everything like people do here. Australians seems to throw money at outsourcing everything, which makes me wonder how they even know if their property is in good financial hands if they have no clue of whats going on with it.

Anyone who actually has an idea of what to study to run your own property?

As i work full time, an online/part time course would be best.. Im also not interested to get diplomas or whatever, i simply want the skills i need for my own sake as I'm not going to work for someone else or an agency etc.

Thanks i advance,

Jacob the frustrated

 

Sounds like a simple property manager course.

 

Hi leo, would you happen to have a link to show exactly what course that would be?
Thanks for a quick response mate

 

I would suggest working for a company that does this just for the experience you will get.

 

The thing is that i already have a career in marketing and this is just a side gig with my investments...

 

@broel - at most property management is covered off in one maybe 2 subjects at tafe. Uni devoted one lecture to it.

However, there's legislation, trust account management, business development, relationship management etc which you require if you are a pm working as an agent.

Fair trading website provides some guidance.

 

That sounds great, but would you be able to point me to a specific subject/course as I'm not able to find it myself?

Thank you Scott

 

OTEN - Cert IV Property Services (real estate)
Cert IV Property Services (Operations) This focuses on facilities management.

Neither qualifies you for a property licence.

 

Ok, but which one (if any) is suitable?
I dont care about licences, diplomat, paperwork etc.. Just want the skills.

Operations kind of seems to be more suitable as the other one focuses mostly on managing renting out, paperwork with tenants, running a agancy,, advertising and alike.. but nothing about managing the actual property, brick and mortar and finance of the building.

 

I think the ones scott posted will be a good starting point. Dont think you'll be able to get exactly everything you want in 1 single course. Also experience as you gain it will be very valuable I would imagine.

 

Need I say more? (unless you want to complete a B Property Economics).

PMs are a small subset of real estate operations. Asset management is more encompassing but focuses on commercial property, development & lifecycle.

 

Strange that theres not such a course available - but what a gap in the market! Might start a course with zero competition

 

I want to own a building that has minimum 12 apartments, with 12 families/tenants in them.

To do this i need certain skills in order to maintain the building - or i guess you could outsource someone to do the finance, another to do the leasing, another one to do the financial planning, another to think about other things, and another for more things - or you can simply do it yourself, and just outsource people for maintenance work on the building.

In Europe, you can simply study and become a Property Manager, which means you can do all these things yourself and manage all kinds of buildings, simple! But here in Australia, everyone gets like super confused when i try to explain this I don't know how to be clearer in what i want to do.

 

If it were me, I'd get a good PM to manage all 12 and get a good deal. When you have 12 you have negotiating power. Then spend your valuable time on other projects.

 

So what if i want to become him, the PM, where do i study just that?

 

Reason is Id rather quit my day job and simply work on managing my properties to be honest

 

It sounds like he would only manage the actual 12 apartments (renting them out for me, being an agent), but what about the entire building, brick and mortar, garden, pipes in the ground, financial planning?

 

The pm can deal with most of that. Any maintenance issues they will bring to your attention and they or you can organise tradies to address the work. Financial planning you can engage a planner (for what I don't know to be honest). I think your over thinking it really.

By the way I'm a huge fan of Fredrik Eklund from Sweeden