Property Management in Galveston, Texas – SOLD

SOLD

Executive Summary

This is a Galveston property management company.  There are 20 houses and condo’s.  Sales have increased every year.  Seller is ready to retire.  However, he will train the new owner for 3 months to make a smooth transition.  This is included in the price.  They are members of VRBO which the tenant pays their 10% to 15% fee.  There is a 3-day minimum to rent the houses and 2 day minimum for the condos. The tenant pay’s ½ the price up front with a 30-day cancellation period.  No exceptions.  The Buyer will get any unused deposits at closing.  The company gets 25% of the rental plus the admin & booking fee which is $110 per rental.  This admin & booking fee is virtually all profit except for an occasional filter for a refrigerator, etc.   The maid work and the handyman are contract 1099.  All work is charged to the owner of the property.  The Buyer should have a Real Estate License.  A Very Profitable Business.

2488
Galveston
Property Management
SOLD
$495,000
$770,000
$195,000
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Disclaimer

The information contained herein has been obtained from the Seller and other sources deemed to be reliable. No representation is made by Del Lingco International regarding the accuracy or completeness of this data.

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