#doorgrowshow - Property Management Growth

How can you reduce the number of times you show a property? Virtual tours. It’s time to weed out unnecessary in-person showings with time wasters and tire kickers.  Today, I am talking to James Barrett of Tenant Turner, a leading property management tool and resource that lets property managers manage tenant leads, schedule showings, and automate the leasing process.  You’ll Learn... [02:59] Goal of Virtual Tours: Educate potential tenants before choosing to visit property. [03:27] Customer-Centric Concept: Virtual tours evolved from quality images to videos. [04:20] ROI: Reduced costs for video camera equipment make virtual tours possible. [07:40] Lack of competition makes virtual tours core to growth and promotion.  [08:28] Direct correlation between virtual tours, time on market, vacancy, and showings. [08:53] Quality over Quantity: Maximize exposure to increase good-fit tenant leads. [13:37] Virtual tours take time and money. Are they worth it? Promoted? Required? [16:29] Record moves, maintenance, and in

Property management businesses always want and need products and services to be profitable and grow doors. That’s why many of them choose the user-friendly residential rental property management software for single-family properties called, Propertyware. Today, I am talking to Inaas Arabi, Vice President (VP) of Single Family Rental and General Manager (GM) of Propertyware. He understands the importance of developing new and innovative ways to help property managers attain profitability and growth. You’ll Learn... [04:37] Past and Present Perception of Propertyware: Before becoming GM, Inaas was a customer because of ability to customize system based on business models. [06:38] Who uses Propertyware? Typically, larger companies wanting to scale and grow. [07:45] Room to Grow: Never buy a solution for where your business is today; always buy a solution for where you want it to be. [09:50] Directions for Growth:  Add units by differentiating services via customization and special offers. Increase revenue per d

Usually, paying attention to your body, mind, and health is the last thing you do when it comes to your business. It’s time to focus on yourself first! Today, I am talking to Tony LeBlanc, second-generation property manager and author of The Doorpreneur: Property Management Beyond the Rent Roll. Tony shares the keys to debunking the rent roll paradox when chasing doors to grow.  You’ll Learn... [03:00] Software Engineer Stint: Tech geek at heart that brings love of technology into property management space. [04:30] What is rent roll paradox? Property management companies that constantly rely on getting new doors to grow their business.  [05:42] Chasing doors creates havoc and stress due to inefficiencies. [08:45] Expanding Territories/Locations: The bigger and more geographically dispersed a business gets, the more opportunities arise that aren’t taken advantage of.  [10:56] Would you want two doors making the same amount, or one door making same amount as two? One door, if the goal is revenue/profit, it's no

From surfing waves to making waves by fixing exploding toilets for tenants—how an entrepreneur and creative technologist leveraged design to streamline simple solutions.  Today, I am talking to Mark Rojas, CEO and founder of the Proper app that streamlines the building repairs process. Mark has spent his career creating positive user experiences and adding value by solving problems related to efficiency and human connectivity.  You’ll Learn... [04:40] Definition of Design: Viewing how something works in the real world and creating a corresponding experience to make your life easier and more enjoyable. [05:34] Proper app idea originated with possibility of becoming an accidental landllord. [07:13] Maintenance is the bain of their existence. There’s got to be a better way to fix building repairs process and problems. [09:30] Maintenance is more than one issue. It involves many problems for many people.  [10:10] Lack of Communication: Leverage “chat room” to create efficient and effective dialogue between contra

To celebrate the 100th episode of the DoorGrowShow, I’m doing something a bit different. Instead of me interviewing someone, I’m the one being asked the questions.  Today, I am featuring my appearance as a guest on the Cashflow Diary (CFD) podcast hosted by J. Massey. We discuss my journey into property management and how to optimize a business through organic growth to achieve success. You’ll Learn... [05:00] Today’s entrepreneurs are like yesterday’s superheroes. They save lives. [06:01] Who is Jason Hull? Someone who has never managed a property, but helps others grow and scale their property management business. [06:48] Being an entrepreneur is in his DNA: Grew up with an entrepreneurial mother, who taught him to make more money and beat the competition. [08:16] Failed Marriage and “Disney” Dad: Jason needed a job that offered freedom and autonomy to spend time with his kids and create clients. [10:13] Website Design, Marketing,and Branding: How to win when competing with Goliaths and make it to the top o

Property managers may not know about or haven’t tried maintenance coordination. But they are quickly discovering its value in making their jobs easier, manageable, and understandable.  Today, I am talking to Andy Shinn of EZ Repair Hotline about implementing an Entrepreneurial Operating System (EOS), Traction, and process improvement.  You’ll Learn... [02:40] Maintenance Coordination: Define world-class process to run for property managers to address issues and inconsistency with performance. [03:49] Growing and gaining Traction to create a structured operating model and take business to the next level.  [04:32] Systems that every business needs: Operating, planning, support, and phone. [06:00] EOS predicts and creates future through annual planning for quarterly goals broken down into monthly and weekly commitments.  [08:38] Constraints around Crazy: Don’t get distracted; you can’t do everything; force yourself to limit your focus to inspire, not control your team. [13:18] Fundamental Flaws:Take things that

Everybody needs and deserves a place to live that is clean, maintained, and safe. Better yet, It makes perfect sense to get someone else to pay your mortgage by giving them a great space at a great rate and share some resources. Today, I am talking to Lisa Wise, co-founder of Nest DC, which manages residential units throughout Washington, DC. The company is committed to customer service, quality spaces, and excellent living experiences. You’ll Learn... [02:23] Nest continues to experience exceptional growth and measures success by revenue and number of jobs it’s created.  [02:34] Fun Spaces: Fixing an Adobe duplex where nothing’s square and everything’s made of dirt led Lisa to love her accidental landlord role in property management.  [04:09] Non-profit Dedication: Do what you can for the community, in terms of what you want to do professionally, due to ability to manage and maintain properties.  [05:04] Origin of Nest DC: Grow one property at a time, and focus on service forward to take care of tenants, spa

Are you a property manager or owner who wants to recoup financial losses when stuck with a bad tenant who stops paying rent or needs to be evicted? Lower your risk? Trust somebody else to manage your properties? Protect all parties involved?  Today, I am talking to John Higgins, co-founder and CEO of Steady Marketplace, a leading technology platform for property owners and managers. Steady’s subsidiaries offer financial products, including rent default insurance.  You’ll Learn... [02:00] Background of Big Financial Numbers: Starting with event-driven, distressed, and activist hedge fund managers with billions in assets.  [06:37] Steady’s products protect property owners/managers from bad tenant outcomes.  [07:40] Rent Default Insurance: Protection against rental income loss due to tenant’s failure to pay.  [10:15] Rent Default Insurance is widely available and adopted around the world. About 70% are renters and 30% are owners. [12:38] Collaboration Over Competition: Don’t simply copy-and-paste products and po

Freedom of time, money, relationships, and purpose is what we all want. Property managers, realtors, and investors help clients build wealth through real estate.  Today, I am talking to Steve Welty, owner of Good Life Property Management business and podcast. He enjoys meeting amazing people and indoctrinating listeners with his philosophies.  You’ll Learn... [03:23] Stop whining about solvable issues, such as online reviews to get warm leads.  [04:41] Steve surfs to success with Good Life Property Management.  [06:43] Podcast Passion Project: Do content for content's sake; add value to people's lives for opportunities and connections to come your way. [10:19] Don’t lose focus on why and what fires you up; limit time and effort spent on your business to achieve outcomes. [15:00] Purpose of Business: Not to make money; build a business that makes money.  [16:25] How to be happy: Create momentum for other people to gain momentum. If you wish to become great, learn to become the servant of many. [18:12] Zig when

Property management is hard enough. As your business becomes successful, don’t always say “yes” or “no” to everything. Owners are coming to you to solve a problem. Step into potential opportunities without being pulled in multiple directions. Today, I am talking to Marc Cunningham, President of Grace Property Management, who identifies five characteristics that define successful property management companies.  You’ll Learn... [02:42] Entrepreneurial Footsteps: Marc grew up in real estate property management world working for his dad, who founded Grace Property Management in 1978.  [04:02] Doors in Denver: Grow slow and steady; from 110 to 1,000 doors.  [04:32] Mantra: Follow the opportunity. [07:15] However you define success, companies follow some of these five standards.  [07:56] #1. Filter and Qualify Owners: Don’t take every owner that comes along.  [20:04] #2. Know your numbers to know how well your business is doing.  [31:43] #3. Focus on profit, not door count. People are willing to pay for additional

Do you want to build wealth through real estate investing and property management? Then, put in the work, trust the process, be open-minded, and get results that change your life. Today, I am talking to Robin Reed, CEO of Concept 360 Property Management and a licensed California real estate broker. She helps clients reposition assets to maximize their value by decreasing expenses and increasing income.  You’ll Learn... [04:29] Challenging Coworkers: Let them go, and try not to grow the company.  [05:07] Learn to appreciate employees who handle day-to-day tasks and tenants.  [05:45] Feast or Famine: Flip from brokerage income to property management.  [07:27] Completely Commit to Changes: Follow DoorGrow, and do whatever it takes.  [12:00] Then vs. Now: No Jerks Allowed policy to make everyone happy.  [17:05] Desperation and Disrespect: You get it, or you don’t.  [17:25] Value of Property Management: If working for peanuts...get what you pay for. [18:20] Walk Away: Not everything, everyone is a perfect market/p

Toilets, tenants, and termites: Property management can be a tough business. Have you ever felt like giving up, only to find joy again?  Today, I am talking to Annemarie Sunde of Legacy Property Management. She paints a realistic and transparent turned pretty picture of property management.  You’ll Learn... [03:00] Discovering Development Areas: Annemarie never wanted to be a realtor, but now has a real estate license.  [04:04] Dealing with the Scum of the Earth? Given an opportunity to get into property management, only to learn most property managers and tenants lack integrity.  [04:50] Origins of Legacy Property Management: Treating others with respect that leads to legacy with tenants, owners, and co-workers.  [06:10] DoorGrow’s Time Study: Doing things that cause you stress and headaches. [06:30] Strategic and Futuristic Strengths: Started having fun thinking 20 years ahead about being on a beach and the business naturally growing.  [06:55] Cycle of Suck: Vicious circle of not-great properties, tenants,

When property managers need a helping hand, where can they go to find the right handyman/maintenance contractor? Today, I am talking to Liz Koser of Keepe, an on-demand marketplace that fills the supply-and-demand gap between contractors and property managers. Liz is a real estate investor and landlord with 10 properties, 15 doors.  You’ll Learn... [01:40] Early Exposure to Property Management: Liz is following in her parents’ footsteps of real estate investing.  [01:54] Own vs. Rent: Liz’s first condo was her own home that turned into her first rental. Since then, she typically purchases 1–2 properties a year. [02:07] Diversify Property Portfolio: First year for Liz to explore out-of-state investing.  [03:32] A lot like Uber: Based on location and availability, contractors go through a background check before picking up jobs via Keepe’s mobile app. [04:00] Keepe Connecting through Techstars: Fast track program for startups to get feedback on product/market fit; network with others to quickly bring things to

Why switch from a fun, high-flying job to a stressful one? Property management is the “Golden Ticket” to finding new properties and creating value to help others. Today, I am talking to Shawn Johnson of Independence Capital Property Management about putting profitability before adding more doors. If your company isn’t profitable, than you can’t create value for the community it serves. You’ll Learn... [02:00] Property Manager with Spare Time: Shawn serves as an instructor pilot for San Juan County Sheriff’s Office.  [02:40] NARPM professional member, chapter president, and residential management professional (RMP). [04:30] Passion for Property Management: Happiness comes not from avoiding problems, but finding fun challenges. [06:02] Innovative Incentive: Competing for staff resources increases salaries, compensation, and revenue to successfully facilitate growth and manage the company. [07:35] DiSC Personality Type: Motivated by money or recognition? [10:15] What makes a business profitable? Finding perfect

How does an aggressively-minded property management company grow quickly? Leads. But it’s impossible for property managers to pursue the blue ocean of 70% self-managed landlords. There's no way to contact them. Until now.  Today, I am talking to Ben Atkin of DoorsUp, a lead generation service for property management entrepreneurs. You’ll Learn... [02:30] Ben’s Background: Grew up surrounded by real estate, property management, and software.  [03:09] 50-unit Student Housing Apartment Complex: Managing students is difficult; Ben moved on to something less stressful and more lucrative.  [03:40] Bootstrap to the Core: Partnered with Coldwell Banker Premier and started property management company from scratch. [04:10] Daily Pre-occupation: How do you grow doors? How do you increase the number of units under management?  [04:41] Database: How do you identify people who own rental property? Where do they hangout? How do you contact them?  [05:03] DoorsUp Prototype: Every person in market who owns rental properties a

Have no fear, when it comes to social media. Share your opinions and what you know. Not everyone will like what you post, but that’s ok. Personal and professional Social media opportunities let you connect with others, build relationships, and post content to attract new business. Today, I am talking to Katie Lance, CEO and co-founder of Katie Lance Consulting. She helps real estate agents and brokers use social media to grow their businesses. Also, Katie is the author of #GetSocialSmart and founder of #GetSocialSmart Academy. She was named one of the most 100 influential people in real estate by Inman News and is a frequent contributor to The Huffington Post.  You’ll Learn... [02:40] Marketing Nerd: Katie didn't go to school for social media because there was no Facebook when she was in college.  [06:40] Social Media Challenge: Audience doesn’t care about property management.  [07:32] Don’t be Vanilla: Be engaging, interesting, unique, and authentic voice for what’s happening in your industry and market.  [1

Are you tired of dorm food and want to avoid the mad rush of finding a place to live off campus before next semester? There’s got to be an easier way for students to rent houses and apartments. It’s a problem that many entrepreneurs have tried to solve.  Today, I am talking to Dave Spooner of Innago. There are few incentives for landlords to digitize their rentals. Landlord demand for a listing platform is low, but there definitely is high demand for better tools to effectively manage and communicate with tenants.  You’ll Learn... [02:50] Tenant Management Software: Making landlords lives easier with online rental payments, tracking payments, basic accounting, lease signing, and tenant screening.  [04:14] Understanding Innago: Flexible, effective, simple, and intuitive software for landlords and property managers.  [06:05] Learning Curve: Competitors’ software requires expertise and certification. [07:32] Who wants to waste time adopting ugly software?  [08:58 #1 Priority: Intuitiveness in software; speed is

If you enjoy unique challenges, daily variety, learning new things, finding opportunities, and experiencing freedom, then you would probably be successful in property management. Entrepreneurs would rather work 80 hours a week for themselves, than for someone else. You don’t have to do it all on your own. Be willing to take some risks, and connect with like-minded people. Let your entrepreneurial spirit fly! Today, I am talking to Bryan Jenkins and Jonathan Cook of AHI Properties. They share strategies that consistently grow their business and add doors in multiple markets.  You’ll Learn... [02:00] Keep on Growing: Corporate housing to single-family homes to property management. [05:25] Real Estate Market Crash: Created shift in income and dealing with investors, despite technology. [07:20] Love it, or Hate it: Learn something new every day in property management. [08:05] When’s the right time to grow and expand? Adding doors in multiple markets. [09:42] Sand Traps: Think outside the box to grow property mana

Today, I am talking to Gwenn Aspen of Anequim, which offers remote assistant, Rent Manager call center, and Rent Manager software consulting services. Also, Gwenn and her husband, Jeremy, own the Wistar Group, a property management company. You’ll Learn... [04:40] How helping a friend, helped property management companies hire employees. [05:20] Currently, 150 employees in Mexico work remotely for property management companies in the United States and Canada. [06:25] Connections and Relationships: Life is all about taking care of and looking out for those you know and love. [06:50] Internal References and Cultural Differences: Holding each other accountable results in low turnover/high retention. [08:20] Managers Managing Remotely: If you manage someone who works remotely, get to know them as a human being. [10:51] Webcam: Teams founded on trust and transparency should be seen and heard. [14:50] For better or worse, Anequim and Wistar Group are unique and original company names that could be patented to preve

In the United States, millions of residential properties are owned and rented out by individual landlords, not professional property managers. Why not protect yourself from painful experiences with tenants, have peace of mind, and leave it to the professionals? Today, I am talking to Dave Holt of SureVestor, which provides Scheer Landlord Protection. This insurance plan financially protects landlords and property managers from tenant-related risks. SureVestor is at the forefront of leading a trend that can significantly help grow the industry. You’ll Learn... [01:45] Passion for Property Management: Dave joined NARPM nearly 30 years ago and has gone through its entire chain of command. [02:51] Reasons why Scheer Landlord Protection was brought to America: Significant growth impact on property management industry in Australia Way to make, but not lose money Opportunity to turn self-managed landlords into professional property managers [05:22] Is the United States ready for similar level of growth? Whether co