When I was a kid I wanted to own real estate. Well, I had to have a plan to be able to do that as my family was not wealthy, and I came from a long line of renters. We lived in the city when I was growing up. I had no relatives in the suburbs or in a rural area. Everyone lived in apartments. I grew up playing in the hallways of an apartment building. I learned a lot about buildings and tenants from my uncle, and I was interested in starting a property management business when I graduated high school.
My uncle was what we called a “building super.” That was short for “building superintendent.” He would do everything from fix toilets to collecting the rent. He got an apartment and a salary for his job. He didn’t do too bad as he and my aunt raised two kids in that apartment. There was no college degree prospects for me back then, so starting a property management business was something I could do. Instead of living in an apartment and managing one building, I wanted to manage several. I wanted employees and an office, and I wanted to rent a loft in a better building downtown.
It took a lot of perseverance and a lot of hard work, but I managed to start my own business. Nowadays you can get an education that will help you in starting a property management business of your own. This is a great head start that I did not have. I could have went further much faster if I could have learned how to effectively manage residential and commercial properties from trained experts. Everything I learned I learned on my own through common sense and a lot of trial and error. Sometimes, there was a lot more error than trial.