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By: Adam Eiseman

It's been one full year since Gregg, Adam and Alex made the decision to open up their very own property management company. The decision boiled down to keeping our goals aligned with our investors in the Jacksonville Wealth Builders program. Clearly, the most important component of a long term investment property is the management. By providing the same "Wow" customer service on that end, the true turnkey investment was formed.

The teammate leading the management charge has been, property manager, Mike Stetson (pictured below). Mike has a service background and quickly acclimated to the leadership role. In the past year, he has built a management company with an astounding 120 rental properties for close to 50 owners and is on pace to eclipse the 200 rentals mark by years end. All of this without any public marketing, only word of mouth!

You ask, how has Mike been able to grow Progress Property Management from the ground up so quickly?

Word of mouth spreads fast, check out some of these mind blowing statistics:

• Vacancy Rate = 2.5%
• Annual Maintenance Rate = 5.3%
• Days on Market = 24 days
• Rent Above Advertised Amount = $41

Progress Property Management focuses aligns its goals with their owners by building long term relationships with high quality tenants. Unlike most management companies looking to receive an annual tenant placement fee, Mike has built the culture to foster as few tenant placement fees as possible. PPM's goal is to have multiple year leases leading to limited vacancy and move out expenses for his owners. With this culture in place, the value to a buy and hold investor over the years is signifcant.

So, why has Progress Property Management been kept a secret to investors buying and holding Jacksonville properties?

With such lofty goals and expectations to PPM's owners, Mike wanted to ensure success by fine tuning his systems and teammates before going public. After a year of clearly defined systems and excelling teammates, Mike is ready to go public and officially launch Progress Property Management to all owners in the need of management.

What are the fees charged to an owner of Progress Property Management?

• 10% of monthly rent (9% for our Jacksonville Wealth Builders owners)
• Tenant placement fee is half of 1st month's rent
• $250 maintenance escrow to be used as a declining balance

Interested in talking to Mike about having Progress Property Management as your management company, feel free to contact him at 904-755-7777 or mikestetson@progresshomebuyers.com.