#doorgrowshow - Property Management Growth

When you're competing for a sale or deal to close, to get a property management contract, or to get a referral partner, whatever it is you're trying to do, you need to take things to a deeper level than your competition. Property management growth expert and founder/CEO of DoorGrow, Jason Hull talks about three magic questions to ask during a sales conversation. When you ask these questions, potential clients will know that you care and want to help them, and you're going to close more deals far more easily. You’ll Learn... [01:50] Pendulum Principle: There are two extremes when it comes to salespeople. [02:21] Middle Ground: Find the middle to be much more effective and productive. [04:16] Question #1: Why now, what's changed? Client identifies, explains pain point. [06:54] Question #2: What’s the biggest challenge with your rental property right now? [08:42] Question #3: What result would you hope to see to know this was a success? [11:02] Default vs. Creative Future Close: Depends on what challenges client

Does it feel like your property management business is crazy, overwhelming, or maybe too much? It doesn't matter how big or small the property management business, it can be crazy or calm. It’s your choice to make. Property management growth expert and founder/CEO of DoorGrow, Jason Hull talks about his goal to eliminate the crazy. Business owners need to be calm for their team to feel that sense of calm in the workplace. You’ll Learn... [02:41] Basecamp: CEO runs calm workplace by eliminating and reducing interruptions. [04:03] Entrepreneurial Myth: Crazy work is a badge of honor, not a badge of failures. [04:31] Adrenaline Addiction: Workplace doesn’t have to be crazy or stressful. [05:20] Planning: Communication in business focused on high-paced growth is critical. [06:15] Tactical vs. Strategic Leadership Role: Who has enough vision, clarity on goals? [08:14] Don’t be involved in everything. Stay in your area of genius and offload the rest. [10:08] Key Ingredient: Create synchronous communication system t

Do you wish that you could travel more often, but it’s just too expensive to find a place to stay? Investors and property managers are eager to get into the short-term and long-term rental market in popular vacation destinations. How can they grow their rental businesses and lower the cost of vacations? Property management growth expert and founder/CEO of DoorGrow, Jason Hull, talks to Rick Bennett about BookingWithEase and TripAngle, which puts control back into the hands of property owners. You’ll Learn... [02:14] Business Plan: Why Rick wanted to make vacations more affordable for all. [02:56] Thought Process: Lower the cost of vacations by eliminating overhead costs. [03:08] TripAngle: Tools for owners to efficiently, easily rent properties, lower overhead. [03:44] Systems and Services: Grow organically, save money, gain exposure for rentals. [05:04] Differentiator: Only site that guarantees no double bookings; easy to use. [07:10] Property Management: Fully automated, 100% customizable with parameters. [

What is a BDM? How do I pay a BDM? Why call them a BDM and not a salesperson in a property management business? Why do I need to make sure a BDM has the right personality type and how do I onboard them correctly? Property management growth expert and founder/CEO of DoorGrow, Jason Hull, talks all about BDMs. If you do all the vetting right, then the real challenge is supporting and training them to be successful. You’ll Learn... [01:42] What is a BDM? It's a Business Development Manager. [01:46] Why a BDM and not a salesperson? Sales gets convoluted or confused. [02:00] Why? Most of you do real estate and have a brokerage side to the business. [02:50] Mistakes: Feedback from companies that help you find/place a BDM isn’t good. [03:24] A business owner not good at sales or onboarding doesn’t give the right support. [05:24] How can you properly support a BDM or salesperson? Know what works. [06:02] How to pay BDMs: If you pay on commission, offer an initial bonus structure. [08:17] How to onboard BDMs: Start th

The most important part of hiring is to filter out and bring in the people that you truly want to attract to your business. Property management growth expert and founder/CEO of DoorGrow, Jason Hull, talks about how to attract motivated and inspired team members in your property management business. You’ll Learn... [01:33] How do you motivate people to get them to do what you want? [02:04] Finding Good People: It takes more than a job posting and interviews. [02:55] Time Study: Start by figuring out where your time goes. [03:06] Job Description: What you want somebody to take on that drains your energy. [03:52] R Document: Responsibilities, resonate, and results. [04:31] Cultural Fit: Bad hires don't share your values, ethics, morals, or how you care. [05:44] Purpose Secrets: What’s your personal and business ‘why’ that motivates? [09:34] Myers & Briggs, DiSC: Know different attributes of profiles and personality types. [12:00] Micromanagers: Whenever we fail to inspire, we always control. [15:17] Pleasure

Property management growth expert and founder/CEO of DoorGrow, Jason Hull, talks about being the best prize to your potential clients. A lot of times clients have this perception that you need or want to get them on as a client. Needy is creepy. Don’t fail to see and show them that you are the prize. You’ll Learn... [03:00] Who is the prize? You or your prospective client? You are! [03:06] Why? If you have a legitimate business, you solve their problems. [03:52] Three biggest complaints? Tenants, landlords, and rental properties. [04:18] Why most property managers and property management businesses suck. [04:48] If you do a good job, you make better tenants, landlords, and rental properties. [05:10] Real Estate Investing: It's easy until your first challenge with a tenant. [07:17] Cycle of Suck: Crappy clients lead to crappy properties, tenants, and reputation. [08:01] Mike’s Pumpkin Plan: Allegory of what it takes to have prize-winning pumpkins. [08:43] Be Picky: Get clients you want to be with, enjoy workin

Why should you start a company or have a business? Making money should not be an entrepreneur’s primary goal or only reason. Property management growth expert and founder/CEO of DoorGrow, Jason Hull, talks about four reasons for starting a company or having a business. Many entrepreneurs mistakenly think the goal is to exit and retire early. However, if you follow my four reasons, you won't want to leave because you’ll be giving up something that's really important to you. You’ll Learn... [02:20] Money: Doesn’t always make a successful business owner happy but miserable. [03:09] Four things are probably more important than money for having a business. [03:19] Side Effects: Being a big bottleneck or cutting operational costs. [04:36] Jason’s four reasons for starting a company. [04:47] Reason #1: Fulfillment: It should be a vehicle to give you fulfillment in life. [05:30] Reason #2: Freedom: It’s what you achieve, why you want to be entrepreneurs. [08:04] Reason #3: Contribution: Businesses should solve real m

Looking for a system that will help you automate the entire residential leasing process? Today’s guest is Abi Wasserman from ShowMojo, a complete leasing automation platform that handles scheduling coordination and showings. Abi explains ShowMojo as automating everything that happens in the pre-leasing experience, from the moment a property is available and hits the market to the moment a prospective renter is moving forward with an application. You’ll Learn... [02:24] ShowMojo: What it is, what it does, and how it's different from other options. [04:14] Touch Points: Automated communication confirms, follows up leasing process.  [05:22] Property managers fit business needs and leasing processes into one platform.  [05:50] Other Options: Some companies do showings or open houses differently. [06:29] Independent Experience: Know calendar availability for each team member.  [07:58] COVID Pandemic Hold: Starting to get back to first normal, busy leasing season.  [08:48] Walk the Talk: What to do when renting pro

Are short-term rental businesses coming out of the COVID-19 pandemic and being resurrected? Do owners love the return on investment (ROI) and income, but tired of the turnover, logistics, and moving parts? If you’re doing it all on your own, hand it over. Today’s guest is Andrew LeBaron with BuyMoreTime, a flat-rate property management solution for short-term rentals. Andrew began his real estate journey by being the marketing director and a guest on Joe Fairless’s Best Ever Real Estate Investing Advice Show. Then, Andrew started buying, selling, wholesaling, fixing, and flipping properties and got licensed to go even further. You’ll Learn... [02:13] How Andrew went from greeting big-name podcast guests to becoming one. [05:15] Hoteling 101: Managing a hotel is not time and freedom. It's a lot of work. [05:54] Team Effort: If you don’t have a team, you will not thrive (or sleep). [09:23] COVID: Great for short-term rentals, not for property managers or owners. [12:40] Questions: How much could my property ren

Do you want to become a better investor? Appreciate and understand property managers—the unsung heroes that make better tenants and owners. Good property managers can change the world. Today’s guest is Bobby Sharma from BetterCapital, a portfolio measurement and management tool for real estate investors. Bobby started his real estate career in Riverside, California, and his first foray into real estate was through house hacking.  You’ll Learn... [02:14] House Hacking: Buy a house, but get roommates to pay most of your mortgage. [03:58] Bobby’s Background: Software developer that wanted to be in Silicon Valley. [04:47] 2010 Market Collapse: Bobby bought some homes that needed some work. [05:03] Meetup Group: Bobby started a real estate meetup group in the East Bay Area. [05:40] Becoming a landlord, buying out of state, and working with property managers. [06:18] BetterCapital: Management/measurement portfolio tool for real estate investors. [07:47] Measurement: Tracks deposits, loan balances, ROI, and equity g

As a property manager, have you considered investing in mobile home parks? Not interested? Not your thing? Some people won't touch it with a 10-foot pole. Today’s guest is Andrew Keel of the Keel Team. Andrew’s here to convince you otherwise. He talks all about mobile home park investing as an attractive and appealing asset class. You’ll Learn... [02:00] Sticker Shock Stigma: Why investing in mobile home parks is a good idea. [02:48] Longing to be a Landlord: Leverage other people’s money to buy properties. [03:30] Yellow Letter: Knew nothing about mobile homes, but knew it was a great deal. [04:00] Shoutout to Lonnie Scruggs: Learned how to make money with mobile homes. [05:10] Temp to Forever Cashflow: Use capital to buy and manage mobile home parks. [07:07] Three reasons why to invest in mobile home parks: Highest returns out of any form of real estate. Demand for affordable housing is off the charts. Supply is limited. [12:40] Bottleneck in Business: Finding good quality deals big enough to move on. [14

The next time you play golf on company time make sure insights into how you spend your time on the job out in the field is not being tracked. Today’s guest is Barima Kwarteng from Timeero, a GPS app that reduces overhead costs and streamlines time tracking. Basically, Timeero started to prevent golf (at least on company time) because it’s expensive!  You’ll Learn... [01:52] Barima’s Background: Originally from Ghana in West Africa, but attended BYU. [02:35] Timeero: Some employees work in the field. How do they spend their time? [03:01] Drunk Coworker Confesses: On company time, they play golf on Fridays. [03:35] Software not from Scratch: Acquired cold base from Texas cop and rebuilt it. [05:00] Theft Prevention: Timeero tracks time, location, mileage, and much more. [06:10] Screenshot Safety: Pressure to prove work is being done to get paid. [06:58] Big Brother? Find out if employees are being accountable or taking advantage. [07:22] Bottom Line: Companies save 5-15% payroll costs by tracking employees’ tim

It’s that time of year as college students start or return to school. They may think they know it all, but really know nothing. How many students does it take to change a lightbulb or turn the heat on? It’s time to grow up in the real world! Today’s guest is Peter Tverdov of Tverdov Housing. Although student rentals are management intensive, Peter actually enjoys dealing with students. It’s prepared him to take on other types of tenants to diversify and grow his business.  You’ll Learn... [02:18] Rutgers University: Becoming a landlord in New Brunswick and loving it. [02:53] Student Housing Side Hustle: Accumulate more and manage them for others. [03:24] Hindsight is 20/20 in 2020: Bad timing to start business and quit day job to grow. [04:41] Decision to deal with students and student housing led to diverse tenant groups. [06:15] Peter’s Portfolio: 65-70% student rentals, 15-20% low-income families, 5-10% middle-class/workforce housing. [08:10] Onboarding Students: Educate and set expectations to limit excus

As some freedom returns to society following COVID-19, don’t miss out on potential opportunities to implement property management growth strategies. Today’s guests are Mark and Anne Lackey from HireSmart Virtual Assistants (VAs). Mark and Anne are broker-owners that manage almost 200 doors in Atlanta. You’ll Learn... [03:47] Trends: Property management pivots and changes during economic downturns. [07:10] Hire Virtually: Save money, get better employees, and increase productivity. [08:22] Wake Up: Don’t resist remote work; realize office space may be unnecessary. [11:14] DIY vs. Professionally Managed: Ramp up sales/funnels to serve customers. [15:26] Problems are always opportunities to grow business by offering solutions. [21:11] Customer Service: Don’t disconnect. Focus/follow up for retention/satisfaction. [27:02] Professionalism: Set expectations. Don’t badmouth landlords via vendors. [28:29] BDM: Do you need a business development manager? [31:33] Time, Energy, and Effort: Resources required to rent pro

What can you do to be more productive, efficient, effective, and get stuff done while working from home during the COVID-19 crisis? No matter how much work you do or get done, there’s always more to do. Today’s guest is Thanh Pham from Asian Efficiency, which has helped more than 15,000 clients worldwide. Also, Thanh hosts a growing and flourishing podcast called, The Productivity Show. You’ll Learn... [01:53] Asian Efficiency: Positive stereotype and memorable name for company. [02:55] Thanh turns hobby of documenting productivity processes into a business. [03:47] Groundhog Day: Businesses operating from home lose time and progress. [05:06] Work/Life Balance: Nothing going on, no way to work, long days, and no variety. [06:33] Planning: Take it to the next level via different dimensions, contingency options. [07:23] Productive vs. Interruptive: Seek clarity to set one goal a day to accomplish. [09:10] Sense of Momentum: What you want and why it matters should drive your life. [12:15] Structure/Strategy: Cre

What’s an easier way for realtors to get referrals to property managers? A free mobile tool, rather than just another app on your smartphone. Today’s guest is Vitaliy Merkulov from Renter Inc., a company that builds software for realtors and property management businesses to be relevant, knowledgeable, and engaging. You’ll Learn... [03:05] What’s next? Building mobile app to generate leads. [03:50] #1 Source: Property management businesses grow via referrals. [04:57] Purpose and Point of Development: Mobile app gives you more realtor referrals. [05:47] Features and Benefits: Realtors request free rent analysis, receive push notifications, provide referrals, and view referral status. [08:10] Rent Analysis: Property manager is first to know who’s leased property, what property should lease for, and what the market suggests for time it takes to lease it. [11:40] Relationships: Get customers when they’re hot. Provide a tool that gets them there, gets them faster for more chances to turn them into leads. [14:09] R

Are you a business owner who wants to get good at financial decision making and CEO-level accounting? How can you build a runway to opportunities? By navigating mindset, expenses, and cash.  Today’s guest is Tim Francis from Great Assistant and Profit Factory. Tim’s training, Know Your Numbers, shows how businesses can deal with cash crunch and cash flow. You’ll Learn... [02:48] Free Upcoming Event: Navigate the Cash Crunch. [03:20] Entrepreneurs: Like Indiana Jones, running as fast as possible from expenses. [06:00] Pre-built Spreadsheet: Adding and subtracting, red boxes and green boxes. [06:40] Beyond Profit First: In motion and cutting expenses when DoorGrow sales stop. [10:23] 3-Step Method: Navigating mindset, navigating expenses, and navigating cash. [11:29] Mistakes of sloth, and mistakes of ambition. [12:19] Step 1 - Navigating Mindset: Be good to your body, protect personal and professional relationships, and early action is crucial. [22:51] Step 2 - Navigating Expenses: Business's profit margin and

The COVID-19 craziness has caused people to stress out and scramble to work remotely. This crisis is pushing everything forward technologically. Why not hire a virtual assistant (VA) to scale your property management business? Today’s guest is Daniel Ramsey of MyOutDesk. Daniel is a real estate investor/broker who loves doing deals, and property management is a way to connect with others and create communities. But he also wants time to take a vacation with his family! You’ll Learn... [02:52] MyOutDesk: Property managers find talent to inexpensively scale their business. [04:05] MLS Porn: Scrolling through new investment properties on the market. [05:05] Remote Reality: In 2018, 5% of America worked remotely, now it’s 50%. [07:58] Work Culture: Maintain good team, quality interaction, and customer service; and reduce operational/overhead costs. [15:00] Steps to Scale: Assess business, compound leverage, develop plan, craft outcome, start interviewing, launch, and training.  [25:48] Match Values, Not Personali

Are you a property manager who spends too much time struggling with leasing requirements? It may be time to automate rental property management and focus more on how to grow your business. Today’s guest is Faizan Khan from LetHub, an AI leasing assistant service for property management businesses. LetHub utilizes AI to interact with renters, resolve their problems, and get them to the doors.  You’ll Learn... [03:40] Why LetHub? Opportunity to use AI to automate rental property management. [04:21] Myth: AI is a simple chatbot with multiple threads of what needs to be done. [05:00] Reality: AI goes beyond basics by understanding how the human brain works.  [05:26] Good vs. Genius AI: What’s the difference? Ability to learn and fix mistakes. [06:39] How to build an AI: Data scientist, algorithms, machine learning (ML), and supervised learning approach are needed to get started.  [07:29] LetHub’s Goal: Make experience for renters and landlords very easy.  [07:55] Property Management Problem: Difficult to get a re

Do you have a coach to help guide you to grow your property management business? If you want to excel at what you're doing, you must have somebody who's playing a bigger game than you. Today, Jason Hull and Jon Ray of DoorGrow continue their discussion on premature expansion in property management. Besides putting planning and process documentation systems into place to be more efficient, they focus on the third system: Communication (internal and external).  You’ll Learn... [01:33] Interruptions and Inefficiency: Every interruption costs 18 minutes of productivity.  [02:13] Pay to Play: Learn from coaches how to protect and guard against interruptions. [02:40] Cut the Slack: Chat tool that creates interruptions and crushes team productivity.  [03:15] Under-Communication: Creates interruptions that prevent momentum and flow. [04:07] Communication System: Only involve those internally that need to know, and find ways to improve external client communication. [06:01] Organizational Structure: Clear line of comm