One of the unique ways in which Property Management Inc. helps its franchisees grow has been through the acquisition of property portfolios. These portfolios are management contracts that property managers want to sell or that owners no longer want to manage on their own.
Aaron McElhiney, Director of Acquisitions, has developed relationships with many of the top property management firms and real estate agents across the country. Aaron and his team actively search the market for property portfolios as they become available on the market and then offer those to PMI franchisees who have expressed interest. He recently helped close a new acquisition of 170 doors for Joe Atha, a franchisee in Indianapolis, Indiana.
Joe joined Property Management, Inc. in January of 2018 with no previous real estate experience. In fact, he worked in the retail sector for Circuit City and JC Penney for twenty years. With that acquisition, Joe now manages 370 properties at his franchise PMI Indianapolis. Mr. Atha is excited about the opportunities these additional properties offer and is grateful to own his own business and not be working at JC Penney anymore.
Other franchisees have grown through acquisitions including Jeremy Brenneman of PMI Kansas City with the acquisition of 95 doors, Nicole Reinhardt of PMI Colorado Casa with several acquisitions totaling nearly 300 doors, and Mark Jones of PMI Midwest with an additional 70 doors bringing his total number of residential properties managed to over 700.
Aaron has also helped franchisees add portfolios in the other property management pillars including home owner association (HOA) unit portfolios and vacation key portfolios. Randall Henderson, VP of Commercial and Residential also assists the nearly 90 franchisees in the commercial pillar to put together contracts to manage commercial properties.
Franchisees have tremendous support from PMI Corporate to help negotiate and put together the best possible deal in these acquisitions whether it is an all cash deal or includes some element of financing.
If franchisees want to grow through acquisitions, feel free to contact Aaron, who will look for opportunities in their specific market. If you own a portfolio of properties that you wish to sell or no longer manage, please contact aaronm@propertymanagementinc.com and Aaron can help you see if there might be a good fit. Property Management, Inc. has gained a reputation for aligning property management franchisees with great portfolios and looks forward to the opportunity to help you in your market as well.
