Property Management Growth with DoorGrow

Do you need someone to help you build your dream? Someone who can handle your scheduling, email, and other tasks while you focus on the big stuff? Someone with the same native language and same culture? The only thing worse than not having an assistant is having the wrong assistant. Today, I am talking to Tim Francis, founder of the Great Assistant Program. During downtime as a touring drummer and after overcoming an illness, Tim had an interest in property management. He realized a brute-force method was not a sustainable long-term strategy. He needed help. He tried assistants from all over the world, only to have disastrous results. So, he created the Great Assistant Program. You'll Learn... [08:02] Tim had the common problems of letting go of control, not trusting others, not wanting to take time to train or manage, not knowing where to find assistants, and not knowing what to delegate. [08:35] After about four years, Tim was willing to offer higher pay to find an assistant in the United States or Canada and make a long-term commitment to them. [09:02] Tim learned that paying the lowest dollar amount and making the smallest commitment to someone, always resulted in them being here today and gone tomorrow. [09:47] Tim started using various tools, such as the Kolbe Index, that focus on different personalities and management styles. [09:56] Tim has had negative experiences using Upwork, a Website for freelancers to connect with business owners and entrepreneurs about jobs. [11:15] Tim discovered which marketing and operations tasks he could delegate to his assistant. [11:29] By having the right assistant, you can go from working 80 hours a week to getting so much done quickly in half the time. [11:48] Tim started helping others get an assistant, and over time he realized that there was a business need to help clients and friends find great assistants. [12:05] Tim created a management team and hired a corporate trainer to train assistants to make sure they are ready. [12:30] The Great Assistant Program has an 85 percent stick rate. For the remaining 15 percent of assistants that don't fit, there is a 90-day rematch guarantee. [14:10] What's the dollar-per-hour cost in real terms? You can pay someone in the Philippines $4 or someone in the United States or Canada for $16-20. The Philippines is less expensive, but it takes hours to explain things repeatedly and fix mistakes later. How much have your really spent? [16:21] If you have an assistant from North America that is high-caliber, they will produce at least 2-3X the work and results. You can feel safe that they understand you and trust that they will treat your customers well. [18:28] Finding a great assistant can be an issue for entrepreneurs starting out to multi-millionaires. It doesn't matter how big or small you are. [19:14] Time is your scarcest and most valuable resource. Give people money to get more time. [19:48] The Great Assistant Program takes care of what you need to find the right assistant. It takes everything off your plate - from posting jobs, figuring out what you need, to finding matches. [21:15] You are probably willing to pay thousands of dollars to undo what previous assistants had done. You don't want to play Russian Roulette anymore. [22:40] Go to DoorGrow.com/greatassistant and fill out the form that determines if you need a great assistant. Plus you get a video gift! [24:01] What is your #1 frustration or challenge in getting a great assistant? The #1 response was control and trust. [24:33] Anytime in business, including property management, if you feel like you are taking a blind risk, that is a horrible feeling. Use the process provided by the Great Assistant Program to reduce the risk. It involves expanding your pool of talent, using the Kolbe Index, and trying work and cognitive tests. [26:23] How do you determine what you will have an assistant do? In property management, there is a lot of work to do. Have your assistant work on preparatory documents, lease renewals, pulling records, scheduling interviews, research, setting up events, posting rental ads, contract signing, scheduling move-in appointments, and tenant screening. [29:15] Just like with surgery, the surgeon does not prepare the patient and tools. The surgeon only does what is appropriate. This is not a form of superiority, it is about appropriateness, and everything done regarding the surgery is vital. [31:09] Critical decisions when it comes to anything that is strategy and high-level skill or high-level access is yours to handle and keep as the property manager. [33:28] Unpacking is the secret to delegating work. Categorize your email inbox for your assistant to tackle specific areas, then you do not need to worry about them accessing sensitive information. [34:53] As a business owner, you need to shift your focus away from tactical work and shift it toward strategic work that moves your business forward. [35:05] Develop standard operating procedures (SOPs) to

If you outsource properly, you free up time, money, and resources that you can reinvest into growing your business. Today's guest is Todd Breen, owner of Virtually Incredible, an outsourcing company. Since 1994 his quest has been to make property management both fun and profitable. Outsourcing achieves both of those goals. You'll Learn... [03:03] Create your own solution to meet the needs of your company. [04:08] A common mistake property managers make is thinking they are the one that does it all. But they realize they can't do it all and need to hire others. [05:00] You don't need to spend tons of money on new employees. But there's a better option. [05:15] When thinking about outsourcing ask: What size is your company? Where are your weak spots? Where is your customer service lacking? [05:36] Todd's company, Home Property Management, decided to outsource its maintenance to a company that specializes in it, is staffed adequately, and available 24/7. [06:21] To effectively outsource, find a business that has systems and processes geared toward a specific task that you need done. [06:57] Dial into collective genius. Learn from other people, collect best practices, and improve what you offer. [07:52] What can be outsourced? Maintenance, leasing, bookkeeping, and other areas. [08:07] Todd decided to outsource leasing because he discovered that 99 percent of the time, money, and effort spent on answering the phone and responding to emails was time lost and wasted. [09:12] About 60 percent of your calls are on your leasing and generate no revenue. It wastes times and does not yield profit. [09:48] Outsource leasing calls to avoid lack of response and voicemails - not good customer service. [10:33] Maintenance is another customer service sore spot for companies. What is your average turnaround on work orders? You may not know, but your tenants do! Lack of response and action generates poor reviews, lower renewal rates...it's a trickle-down disaster. [11:40] If companies outsource leasing and maintenance, that is the bulk of where they think their time should be spent. But taking those off their plate lets them use that time to focus on building their business - strategic rather than technical work. [12:42] As an entrepreneur, you need to be willing to give up a certain level of control, even though that may feel uncomfortable. [13:37] At one point, Todd decided he wanted to scale and remove himself. He did so by becoming a reformed control freak. [13:55] The average property management company owner thinks they can't afford the latest Website. Outsource to the lowest cost solution and invest the savings to grow your business. [16:25] If an entrepreneur has a clear direction to head in and believe in it, you can't stop them. They are going to do it. Property managers need to believe outsourcing is a viable option for them. [16:38] One fear about outsourcing is related to quality. Property managers fear that those they pass off the work to don't care as much as they do or the output won't be as good. [16:58] Fear = False Evidence Appearing Real. For Todd, he felt that as soon as he didn't do he work, the quality would go down. But, the quality of his life was not so good because he was working so much. [17:16] Todd's customers had quality, but he didn't. He got to a point where he was done with that and things happened. [17:24] Todd teaches a course called, Run Your Rent Roll From Under a Palm Tree. [17:54] If you are a workaholic or overworked, Todd figures out what he can do to help them through various processes, systems, quality assurance, and training. [19:16] Those with the fear factor may be surprised when they let go, they open up to a better way of doing things at their business. [19:31] Should you hire your own virtual assistant (VA) or a reseller? Do you have the time to hire, train, and work with others? Are you good at hiring, training, and working with your staff? It's up to you to decide which is better for you. [21:20] Advantages of a team being virtual is that you can pull the best talent from anywhere and overhead is low. But there are challenges. [22:13] You can outsource to virtual team members as well as to specialized companies to handle various tasks, such as podcast production. [23:45] Entrepreneurs do not usually make good managers. Specialized agencies use their expertise to take that management piece over naturally for team members to thrive. [24:55] With outsourcing, don't necessarily go with the cheapest option to save money. Time should be higher on your priority list than money. [25:27] There's a hustle-and-grind myth that if entrepreneurs work harder and are more aggressive, burn themselves out, they will make more money and get more done. In reality, you become unproductive and make bad decisions. [26:25] If you don't feel naturally passionate about something, take it off your plate through outsourcing. [27:00] The mistake entrepreneurs make when building a team is they build teams

Have you ever been sued because of a biased opinion on an inspection you did on a property? Did you have a personal, vested interest in the property? Do you think you are safe just because you have documentation and videos? Today, I am talking to James Alderson of OnSight PROS about inspections. Most property managers claim that they do inspections, but do they really? James was one of those who claimed to be doing inspections. But he just didn't have time or want to do them. So, he hired people to do the inspections for him. As a result, it developed into a business for James. He saw the need for move-in/move-out, periodic, and initial inspections. You'll Learn... [03:51] How many doors are needed to grow into a new market - 800 to 1,000. James went through about 35 inspectors/technicians initially but did not enough business to sustain them. [04:57] If your area does not have OnSight PROS, see if you can create 800-1,000 doors for James to make some magic happen in your market. [05:12] Currently, OnSight PROS is located in Harrisburg, Pa.; Baltimore, Md.; Virginia Beach, Va.; Atlanta, Ga.; Tampa/Jacksonville/Orlando/Panama City/Lakeland, Fla.; San Antonio/Austin/Houston/Fort Worth/Dallas, Texas; Boulder, Colo.; and Phoenix, Ariz. [06:59] OnSight PROS is committed to hiring the right people and paying them well. [07:13] In most markets, OnSight PROS pricing is $99 for a periodic inspection and $119 for a move-in/move-out inspection. [07:57] James has not met a property manager yet who does not want to give back the security deposit. However, 99 percent of the time, an inspection indicates that a property is not rent-ready, so the full deposit cannot be returned. [08:26] One of the things OnSight PROS values is that you receive the same product, no matter where the OnSight PROS you use is located. [08:41] OnSight PROS has a quality control system in place to make sure its inspectors do the right thing, every time. [08:52] Why is it better to hire a company like OnSight Pros rather than having internal inspectors for a company? The main reason - the cost of money. It costs less to have someone else do it. [09:49] Examples why property managers need such services provided by OnSight PROS. [12:11] Tenants are becoming more knowledgeable about their rights and how to bypass various factors. [12:36] Is there a warranty, insurance, or protection in place for inspections? OnSight PROS offers a summary of issues in cases of disputes. This documentation typically prevents cases going to court and a company being sued. [13:42] There is a power and leverage that comes with a property manager hiring a third-party provider to handle inspections. [14:17] OnSight PROS convinces property managers to hire them instead of doing their own inspections by addressing the importance of performing certain types of inspections that are not being done currently. [14:30] OnSight PROS determines if a property is one they want to take on, is it up to code, and if it fits their portfolio of services. [15:27] OnSight PROS sets up inspections with the tenant, who has to be home. Otherwise, OnSight PROS will not enter the property. [15:57] Don't be surprised if tenants to to stonewall you. Inspectors are not usually their friends. They may have a grow house that property managers do not know about! [16:50] OnSight PROS is willing to go in and be the "bad guy" when it comes to inspections. The property manager is removed from that role. [17:36 ] Example of a property manager who joined OnSight PROS to do inspections. He discovered how tenants treat property managers differently than inspectors. It's a different perception from the tenants. [19:02] With property managers, tenants point out problems that need to be fixed. With inspectors, tenants don't want them to find problems they created or caused. [19:41] One of James' goals in starting OnSight PROS was to manage as many doors as possible, but live wherever he wanted. He has become a manager rather than dealing with day-to-day matters. [20:41] Cycle of Suck: Screen the types of properties you take on. If you take on bad owners, you are going to have bad properties. You are going to have bad tenants, who leave bad reviews. You will attract more bad clients. So, you need an effective screening process. [21:59] Property management entrepreneurs are the "weird birds" who want freedom, more than safety and certainty. [23:35] Owners expect OnSight PROS to pay inspections for them. Otherwise, they try to get reimbursed for them. [24:40] An admin fee is for all the administrative work, including inspections, done to get a tenant into a house. It usually ranges from $25-200. However, make sure to label it as an admin fee, rather than an inspection fee. [26:02] A periodic inspection involves checking smoke alarms to make sure owners are not at risk. A property manager's job is to mitigate risk. [27:05] Inspections are not cheap, but they are worth the money - and property managers do not have to p

Imagine yourself drinking a beer, sitting by the pool, and watching the sun go down. Can a picture truly capture your enjoyment? Thanks to editing services offered by BoxBrownie.com, it is possible. Today, I am talking to Brad Filliponi and Peter Schravemade of BoxBrownie about their online marketing tool that helps others publish quality marketing photographs to get people to their properties. You'll Learn... [01:50] Background of BoxBrownie: Brad was previously a real estate photographer who had trouble finding people to edit his images. Peter is a real estate agent who believes quality marketing can be done for less money. So, they developed an online marketing tool for estate agents, photographers, and others to easily publish marketing materials. [03:45] The BoxBrownie website features quality output and samples of what can be done. The amazing photos help people envision what is possible. [06:35] Virtual Staging: BoxBrownie offers virtual staging of properties and rooms that are mapped out in 3D and where furniture is placed. You can select from the following styles: modern contemporary, urban industrial, Scandinavian, farmhouse, or customized. [07:18] View samples of virtual staging. [07:31] Virtual Renovations: BoxBrownie takes an unfinished room and adds furniture, appliances, and fixtures for renovations. Then, clients are given something they can use to instantly market the property for sale or rent. [09:05] BoxBrownie offers image enhancement editing for just $1.60. In a 24-hour turnaround, any photo from an amateur or professional photographer is taken and made to look 1,000x better for MLS listings. BoxBrownie has preset edits that polish your photos. [10:00] Many property managers use the image enhancement edit product because they do not have the budget to hire a photographer or they don't have the time to fix photos. [10:33] Twilight Conversion: BoxBrownie takes an existing property that has been photographed in daylight and is converted to twilight. Day-to-dusk conversions are clicked on more often than daytime shots. It costs $4 and has a 24-hour turnaround. [12:35] Item Removal: Remove clutter and clean up the photo. BoxBrownie can remove cars, statues, paintings, etc. Some items can turn people off, so eliminate bad vibes - and items. [15:02] Drone Editing: This service is if you want to highlight a lot or pinpoint the location of a property, such as to identify schools and landmarks. The cost starts at $2.40. [16:43] Turnaround time from BoxBrownie is 24-48 hours, depending on the type of editing or enhancement service selected. [17:23] BoxBrownie is currently creating an API and in discussions with property management software companies to provide its services. [17:50] If marketing a property, make sure to have a floorplan. People tend to not look at your property if you don't have one. The price frame is $24-36. [20:23] Custom Jobs: Customers upload images or floorplans and provide a description of what they would like added, changed, or removed. [21:05] 3D Rendering: Photorealistic or 3D image of a property that does not exist. BoxBrownie creates an image of what the property will look like. It costs $280. [22:23] Email product suggestions and feedback to BoxBrownie. [22:45] Copywriting: BoxBrownie can write content to go with your pictures of properties to market them. [23:15] BoxBrownie contact info - go to BoxBrownie.com to sign up for some freebies and $40 credit. Just use the coupon code: SHOWMETHEMONEY. Tweetables Put it up on the market and showcase possibility. You've got something to instantly market the property. Day-to-dusk conversions are clicked on more often. Resources DoorGrowShow on iTunes BoxBrownie.com Email BoxBrownie MLS PhotoShop Google Maps Jerry Maguire

Dealing with natural disasters is a crucial part of property management. In this episode, we hear a first-hand account from those who dealt with the devastation to property that occurred when Hurricane Harvey hit Houston. There are all kinds of disasters that could happen in the future. Property management knows this first hand, as well as the importance of an effective disaster preparedness plan. Steve Rozenberg and Pete Neubig from Empire Industries give their perspective on dealing with the devastation in Houston. They describe their emergency preparedness plans and the crucial steps they took to manage their properties during the devastation. They are able to give us a first-hand look at the things property managers need to consider in the event of natural disasters and how best to manage operations. You'll Learn... [05:09] Roles during a disaster: Steve took to Facebook to show people what happened, and Pete served as the backbone of the operation, coming up with a plan and delegating tasks. [05:37] Systematically break down all the different problems. Houses were flooded, properties were vacant, can't contact some people, people are calling in about damage, etc. [06:48] Identify prerequisites, such as how to notify your clients about how you plan to communicate with them throughout the process. A Facebook group or email are two options. [08:49] Are there staff members available to help? If yes, make them project managers for each project and provide available resources. For example, one project manager to handle a list of homes that were non-contacted homes. [09:56] Determine how staff members are personally doing because they are going through the drama, as well. Make sure they are ok. [14:12] Notify residents as soon as possible about whether their home is damaged and to what extent. Encourage them to contact their insurance company to determine what is covered and what isn't. [16:01] During a natural disaster, your property management company will probably not be receiving rent payments. Use leasing fees to sustain your company. [16:30] Partner with an inspection company to know exactly what's going on with a property and to allow the owner to make a good decision. [17:56] Initially, strive for one-way communication to avoid property managers and assistants being inundated with residents or owners asking questions when you don't have immediate answers. [19:18] Realize that you are going to have a lot of tenants that need a place to live. As a convenience, compile a list of available properties. [19:50] Provide good-to-know information on your Website. For example, who to call if your car is towed or phone numbers to popular insurance companies. [20:24] Work with other companies to help out each other and your residents/owners. Utilize your resources. For example, waive application fees. [24:15] At some point, someone has to be the leader. Run your business through leverage and team. Develop such a structure and culture. [27:10] Grow your company as business owners and not doers. Focus a lot of time on working on your business and not in the business. [30:25] If possible, keep your business open and running the whole time during a natural disaster. [31:21] Hire someone knowing that they would make a good leader. [33:45] The definition of a business is a profitable enterprise that runs without you. Your staff is there to support you and minimize chaos. [35:55] Only one person can be a leader at a time. Know your strengths and weaknesses. [41:53] Build relationships with everyone, even your competitors. They become invaluable during natural disasters. [43:20] Invest in a business coach or mentor and training to gain knowledge that you can use during natural disasters. The more you grow, the more your company grows. Take care of yourself. [48:27] Invest in marketing and try to get free publicity. [59:17] Look at a VOIP system if you're not on one. Look at having some assistance elsewhere to keep your business going. Also, have a communication plan for your residents, vendors, teammates, and owners before the natural disaster. [59:45] Speed is key for property management companies dealing with a natural disaster. Get moving as quickly as possible, don't overthink it, just do it, and get it done. Talk to your clients about not only the problem, but the solution. Tweetables Only one person can be a leader at a time. Natural disasters just happen. Then, you deal with after effects. A lot if this was divide and conquer. Resources DoorGrow iTunes Empire Industries Facebook Empire Industries Website Empire Industries phone number - 888-866-6727

A lot of people may want to upgrade their home or location, but money is tight and they are tied down. Mike Kalis of Marketplace Homes has a solution for this. Not only does he help people break ties with their existing homes and move into new ones, but he successfully built a business around this practice. Today we are talking about how to use options to grow your property management firm. Doing things like helping tenants and owners by leveraging rent-to-own options. The goal is to increase revenues and have enough money to provide a high level of service. You'll Learn... [04:02] Mike's company is close to 3000 doors in 28 states. [04:49] How we will talk about increasing revenues on transactions. [06:54] The biggest benefit is helping owners get out of their homes without having to sell right away with a rent-to-own plan. [08:01] This is also a second chance opportunity for the tenants. [09:09] Pros and cons a tenant could put money down and if they don't purchase they would lose that. The owner could lose out if they set a price that is lower than future market value. [10:32] What an option agreement actually is and selling the option to the tenant for $5000. [12:53] How this method actually helps grow a property management business. [14:01] How accidental investors are the one's property managers make the least from. This method helps make a profit from this group. [21:14] Signing the purchase agreement right out of the gate and list and itemize all expenses. Making sure the tenant understands the fee is non-refundable. Tweetables Not having enough money to provide high service levels makes us unprofessional. The better the pricing, the more likely the tenant is to close on the option. This is a neat thing that offers owners and tenants more than just a service call. Resources Marketplace Homes Marketplace Homes on Facebook #DoorGrowClub Mike Kalis on LinkedIn

A solid team is needed for any property management business to grow and be sustainable. One of the largest challenges of having, building, and retaining a team is creating an environment that enables team members to thrive. Having a culture and vision is foundational for attracting and keeping the right people on that team. In this episode, I interview Tim Wehner from Dodson Property Management. Dodson is a large company with a large team, which is perfect for today's topic of having a culture and vision within a property management business. Tim shares how they create a culture at Dodson and how a shared vision helps motivate team members. You'll Learn... [03:43] Writing out a mission statement, company values, and vision. Then taking small steps to accomplish those. [05:43] Dodson has about 1475 properties under 10 units and 4000 in the multifamily department. [07:43] How important it is to make sure everyone shares the same vision and values. [09:44] Dodson promotes long lasting relationships by dividing groups into pods. [10:23] Dodson and their purpose or mission statement. Creating a positive relationship with tenants and owners. Trust, comfort, and pride. [11:57] Values are to be empathetic, honorable, driven, and courageous. [12:39] Vision to positively impact over 500,000 lives by 2025 is where they want to go at Dodson. [13:24] The importance of community within their vision and the impact they make on the community. [14:27] Inspire others to love true principles at Door Grow. Energy management and what is in line with purpose. Learning and sharing for fun. [19:28] Trust and relying on each other and being able to share while talking with people like they are human beings. [23:20] Being open to employees with new ideas. [24:46] Challenges dealing with things like gossip and office politics. Trust and open dialogue go a long way. [32:07] Making sure a job is a good fit and the team member will be motivated in their role. [40:21] Celebrating wins and asking how to give support as a leader. This allows feedback and creates momentum. [46:04] How memories don't even exist unless there is emotion attached to that. Create positive emotions and wins. [52:02] Finding what is working and continue doing that. [52:22] Get clear on your purpose and values. Have a vision of where you want to be. Tweetables It's not important to copy another business's culture. It's important to discover your business's culture. Our goal is to deliver a living experience unlike any other. We are a people business that not only focuses on clients but also tenants and customers. Resources Dodson Property Management Tim Wehner LinkedIn Tim Wehner Twitter @wehner1tim NARPM Traction [email protected] 804-426-1660 Wehner1Tim on Snapchat KingJasonHull on Snapchat

When starting and building a business growth is an important factor. Emulating successful people can also be a shortcut to success, but keep in mind that doing the same thing as someone else that is in a different growth stage doesn't make sense. Different tactics need to be used in different growth stages. In this episode, I am talking with Steve Rozenberg from Empire Industries. Steve grew his business from zero to 700 doors in four years. Steve has a really interesting story that he is able to go out and share because he is supported by a really great team. We talk about Steve's story, stages of growth, and more. You'll Learn... [03:24] Steve's background as an airline pilot and how 911 was a pivotal point in his career and life. [06:37] He was attracted to real estate because he liked the fact of leveraging time and money. [07:11] He was doing well with houses and apartments, then he bought 20 low-income properties and got in over his head. [08:32] While trying to solve his low-income housing problem he and his partner ended up creating a business model for property management. [09:22] Their first hire was a business coach, then their first full-time employee. [09:46] They are a sales and marketing company that trains employees to close. [11:33] If you run a property management business you should be focusing on things other than the actual management. [13:20] Having a strategic 30,000-foot view of your business. [17:41] Helping your team in order for them to support you. [20:12] Doing a time study to understand where time is spent. Time needs to be on strategic business. [28:06] The importance of mindset and positive self-talk. We can talk our brains into and out of things. [30:47] The transition of handing the reigns over to your time after being the person who did everything themselves. [33:39] Growing a company to your level of incompetence, then you need to grow your level. [38:23] The importance of looking at the numbers and the cost of marketing. [43:40] The importance of branding yourself as an expert and building an awesome reputation. [01:01:33] How your number 1 prospect is your existing customer. Asking for referrals is also a good idea. Tweetables As a leader, your job is to grow the team and encourage them not to say "get out of the way I'll do this better than you". I've learned that the way to grow a company is to surround yourself with much smarter people. It's not doing one massive action, it's taking action continually that has been the key to our success. Resources Empire Industries Cold Leads Calculator Steven Rozenberg on Facebook Empire Industries on Facebook Call Steve (888)866-6727 Empire Industries Radio Show

Being a property manager is a great career and a great way to earn an income. Getting in on a growing opportunity and building a solid business is fun and profitable. Yet, many property managers can get stuck on depending on only transactional income through adding clients. In this episode, we learn about a way to break this cycle. In this episode my guest is Jim Ingersoll from Big Money Investor. Jim shares creative ways to fund deals. He is a real estate investor with a lot of great ideas. My goal for this show is to make things very relevant for property managers. We discuss how property managers can break through the transactional cycle and purchase their own investment properties to manage and grow revenues for themselves along with their clients. You'll Learn... [02:05] How Jim helps people get into owning properties of their own and not just managing them for everyone else. [02:33] How property managers often get stuck in a transactional income stream. They would like to break out of this cycle but don't always know how. [03:00] Why some property managers don't have properties of their own. [03:47] Getting rid of the 20% down bank-funded myth. [04:35] Assuming loans, letting an owner be the bank, joint ventures - funding through someone else, real estate can be a retirement account. [07:16] Buying a property "subject to" an existing loan staying in place. [09:53] Structuring financing through free and clear owners who want to sell without any management responsibilities. [12:52] Joint venture with someone who has money on the sideline, where you do the work and they provide the capital and you share cash flow and equity when you sell. [16:34] How joint ventures would be a great method for property managers to get properties. [21:34] Investing retirement accounts in real estate. You are not limited to stocks and bonds. [22:33] Using self-directed retirement accounts to invest in real estate. 25:03] Using leverage in real estate is a huge benefit. 26:01] Creative options with short-term rentals Airbnb to traveling nurses. Tweetables Taking over a loan is a great strategy for truly motivated sellers. An incentive for owner financing is earning 5-6 times more interest than from the bank. A problem landlords can run into with 20% down loans is cash flow shortages. Resources Big Money Investor Free Gift from Jim Quest IRA Equity Trust Airbnb

If you have ever thought that managing properties would be so much easier if there was just a mobile or iPhone app that connected to your property management software and linked to your website, your time has come. Today's episode is all about a mobile app that does just that along with insights and more from the apps creator. In this episode, I am talking with Evan Savar from MyResisentLiNC a software app that helps manage all aspects of property management from communication tools for residents to custom setup for property managers. They are currently focused on multifamily properties and connecting entire portfolios, but they are also starting to address specific residential needs. Evan shares all of this with us and more on today's show. You'll Learn... [02:11] About Evan and his background. He is from Las Vegas and has always been an entrepreneur. [02:48] He created Evinar a live streaming tool for Facebook. [03:23] He has always been interested in communities and community creation through technology. And he created a tool to connect communities in an apartment setting. [04:43] MyResidentLiNC is an app that connects property management for all properties within a portfolio. Each community is run separately without having to create a custom app for each one. A flexible mobile app for customizing based on your area. [06:51] Needs and technology are all over the board, but the app helps organize and aggregate all of the tools and needs. [08:54] Meeting diverse needs and making it flexible and scalable. [10:51] Some cool things they have done is integrate with Calendly and reduce print costs. [15:24] How tools like this make sense once the 100 door barrier is broken. [21:25] How time is a big challenge for property managers. Advantages of scaling without throwing people at it. Tweetables It's not the place that makes the person, but it's the person who makes the place. We want to make sure we understand the needs specifically for each type of business. MyResidentLiNC enables one to one and one for all communication with residents. Resources MyResidentLiNC

Sales are the backbone of any business, yet it is something that most people struggle with. One thing that can help all of us is understanding the psychology behind what makes influences a persons decision to buy. Mike Michalowicz the best selling author of Profit First, The Pumpkin Plan, The Toilet Paper Entrepreneur, and Surge is back on the show. This week we are talking about behavior influences regarding sales. It's all about what affects sales and what helps you sell your property management services. Mike shares his research and insights on this important topic. Be sure to listen to our popular, previous episode with Mike: DGS 25: Why Every Property Manager Should Implement Profit First You'll Learn... [03:00] How entrepreneurs struggle with momentum mode and overwhelm mode. [06:11] How we are wired to pay attention to things that are different. [11:18] How we feel compelled to share our knowledge and power of secrets. [14:45] Identifying what the customer truly needs and delivering it. [21:11] The Phoenix Effect and how there is automatic envy of someone in a superior position. [27:30] Having a compelling story with a high point and a low point and inviting the audience to climb with you. [31:36] How to have a perfect vision. [34:35] Focusing on the end benefit and sharing a story of the benefit. [42:20] Always look and see what the mass is doing and then do the opposite thing. [43:09] Being different and showing that you are unique and simple. [43:54] The more options the more paralyzed we become. [46:08] Catering to specific niches and benefits of frequency, intimacy, and trust. [55:36] How little guys can move faster than the big guy and always be different in business. [01:01:07] The way that Mike's website is radically different. [01:02:12] To make your business stand out, take a step. Tweetables Having the courage to be different guarantees attention. Envy or pity both result in avoidance. Once you get someone's attention, you need to sell what they consume. Resources Mike Michalowicz's Books on Amazon Previous Podcast with Mike: Why Every Property Manager Should Implement Profit First Contagious: Why Things Catch On (Book on Amazon)

Property managers want to get business and make money, but they often make the mistake of underpricing their services. In the long and short run, it would be much better to make more revenue with less clients. The challenge is finding a way to reach an audience that will pay for a quality service and allow you to actually make money. Today, I am speaking about price sensitivity to the franchisees at Keyrenters. I had done some past consulting work with them,and they invited me to speak to their regular audience. I talk about how marketing to different channels and having a solid reputation while being able to sell to the right audience can make all of the difference with pricing options. You'll Learn... [03:42] Shoring up branding and creating reputation profiles as a business. [04:53] Category expansion is building brands and creating market share by finding an audience. [10:33] Focusing on the blue water where everyone else isn't.[13:24] Reviews are one channel for warm leads, but you can multiple review channels. [14:11] Sales is the number one thing to know. [15:42] How to deal with pricing and people asking for discounts. [16:34] Discount type companies have a higher churn rate and lower retention rate. [17:11] Reaching out and touching people and letting them know you are a better option. [17:47] Taking on too many doors at low price points will make you overextend yourself and not be able to hire help. It's better to have a profile of half the size and make more revenue. [18:54] Keeping costs low while getting a fee that makes sense. [19:19] Decide what you want and what you can part with. [23:02] Learning how to sell through failure or getting coaching. [23:59] Investing in yourself is the best investment. Mindset shifts for valuing yourself. [30:55] Knowing and understanding your business leads to success and more of the same. [32:28] Multipliers of increasing your sales by a small percentage. [37:46] Understanding why you are in the business and why you do and how you do it. The art and science of figuring out your why. [42:32] The number one thing you can do to improve is invest in yourself every day. [46:40] Taking action on the four main areas of your life. Tweetables The majority of property management clients come through word of mouth. The close rate on reviews from tenants and owners could be 70% by going more personal and leveraging reciprocity. The difference between a cold lead and a warm lead is that they know you, trust you, and like you. Resources Keyrenter Franchise Cold Leads Calculator Grant Cardone Increasing Fees in Property Management with Darren Hunter Cold Calling FRBOs for Property Managers With Daniel Madison National Association of Realtors Broker Summit

Today, I am hanging out with Jameson Brandon and talking about the subject of genius and speed learning. We talk about how to really tap in and connect with your genius and purpose, and how to remove stuff from your life that is preventing that from happening. This all affects growth and how your business is growing. We talk about energy management, time management, and building a team that is motivated and passionate. Every business, especially, property management businesses want to grow faster. Jameson and I talk about unlocking your inner genius to grow your business faster. Most business owners want to be moving faster, but they run into roadblocks. People commonly think the roadblocks are due to lack of tools or resources, but they are usually rooted in a much deeper belief. In this episode, we explore what it means to be a genius, and how to bring out the genius in all of us. You'll Learn... [04:00] What it takes to be a genius. We all have genius inside us. [07:11] How people need to find what drives them and gives them joy. [09:41] How identifying with something creates a dynamic that makes it stronger. [10:12] Producer is a dreamer and thinker. The performer is a doer. In school, we are forced to become performers. [12:44] How what gets measured is the thing where the focus is. [16:47] Shifting our thinking towards passion and what we desire through an increase in awareness and asking deeper questions. [19:12] Why we deserve to remove the little things that take away our power. [21:25] Asking the tough questions and removing what we don't want to do. [24:31] Inspiring others to find their true principles and getting clear on why. [26:06] How energy management and feeling good is even better than time management. [27:21] Finding out what your employees love doing and hire them for that. [29:06] Going through the refinement process of letting go and finding what you love. [30:04] Knowing your purpose and focus enables you to learn much quicker. Stand on the shoulders of giants and learn from others. [31:10] Tell your mind to serve up more of what you are focusing on. Thin down your focus. [32:17] Having each team member focus on one thing. [33:48] Finding a company or software that fills the challenges you are facing. [34:49] Focusing on a few core things that you should focus on. [38:29] The endless to-do list of stuff to learn. [39:31] Put people in place to manage things. Have a process for how things are done, and even how much you learn. [44:15] Speed learning hacks. Find in love with the topic. Break it down into micro pieces and study until they become a habit. Create micro goals or measurements, so you know that you are moving forward. [46:32] Laws of frequency and recently. And reviewing. [50:44] Getting very good at living in the future to become the future thing. Tweetables Everybody is a genius. We all have a magical ability to make things effortlessly happen. Genius state is taking the flow state and making it an everyday thing. Resources How great leaders inspire action Simon Sinek Ted Talk Optimizing Man @jbrandon0 Jameson on Twitter Jameson on Facebook Jameson YouTube Jameson LinkedIn

Today, I am speaking with John Ray, of Inspect & Cloud, a digital property inspection software product. If you haven't heard of this software, I think you will love it. It is just really cool, and John is also a really cool guy. John began in real estate when he was 18 years old. He soon discovered that selling houses was harder than he thought, but he was good with technology. He started developing websites for realtors and working on marketing and lead generation. While working on the tech side of real estate, John was offered an opportunity to teach at Google. He ended up traveling with a group of brand ambassadors and teaching SEO, lead generation, and email marketing. John wanted to implement some of the things he was teaching and he was also fascinated by SaaS product. After talking to many realtors, he realized that there was a pain point when it came to managing paper property inspections. Here is John's story of the creation of Inspect & Cloud. You'll Learn... [04:47] How managing paper property inspections was an issue which created an opportunity for searchable cloud based reports. [05:44] In three and half years they have grown from zero users to over a thousand. [06:22] Inspect & Cloud digitizes inspection reports. [07:51] How Inspect & Cloud makes it really easy to compile and organize property information in a few minutes. [09:53] Saving time using software as opposed to hiring more people. Scalable businesses use technology. [11:34] How Inspect & Cloud offers the most features and most streamlined inspection report organization. [14:10] How using one software that does everything doesn't give you the features and efficiency of specialized software that does the best job. [18:30] The goal of managing systems and processes and let those manage the team. [20:55] How Gamification and accountability are incorporated into the software. [24:21] Leveraging software and communication the right way. [28:56] Challenges with property managers not communicating the actions they are taking. [37:37] How it's backward thinking to skimp on software that touches with the property owners. [40:00] Perceived value is everything. Your competitive advantage allows you to collect prospects. Tweetables It was fascinating that I could offer service and build products from a backpack anywhere in the world. We offer a solution that hits 30 or 40 extra valuable data points. This new software is helping to bridge the property management gap and utilize the best tools. Resources Inspect & Cloud 14 Day Free Trial for DoorGrow Listeners

If you are frustrated by the support or lack of support from your property management software, you will be interested in this show. Today, I am talking with Nathan Miller, from Rentec Direct. The one thing I keep hearing about Rentec Direct is that they have fantastic customer service. This is really unique because we don't often hear that property management software has amazing support. If you want to know what makes great support or are in the market for new property management software, you might want to give this episode a listen. You'll Learn... [02:35] Nathan formed Rentec, in 2007, because he wanted to make landlords lives simpler [03:19] Nathan has a background in software development and he was also a property manager [04:59] In 2009, the free version of Rentec turned into a real company with additional functionality [06:11] Why someone should choose Rentec Direct they know the software and the rental business [10:08] Why Rentec is profitable and how they treat clients and employees [11:23] Number one challenge with software is getting people to use it [13:09] Fine tuning features to save time for property managers which creates huge cost savings [14:25] Many SaaS companies have a lot of inefficient clicks. Rentec was designed more like an application so that everything can be done with one click [18:24] How Rentec has the best support team and live chat [21:25] How they offer free migrations to help with the difficulty of switching property management software [23:55] Integrations and APIs to work with other software [26:20] Rentec Direct is cloud-based and can be accessed from a web browser Tweetables I couldn't find software to help me, I assumed there were other landlords with the same problems. We help property managers with the software and with the rental business. It's our goal at Rentec to earn our customer's business every month. Resources Rentec Direct

If you feel that you are an entrepreneur or think that maybe you are an entrepreneur, you should know about Mike Michalowicz and his books. If you are operating through standard accounting, GAAP accounting, or what Mike calls Frankenstein accounting, you are going to want to listen to this episode and how you can increase profitability. In this episode we are talking with Mike Michalowicz about his most popular book Profit First and how and why you should implement it in your business. I have implemented Profit First into my business and several listeners have reached out and said that Profit First is the secret to the growth of their property management companies. You'll Learn... [03:57] The pain that created Profit First [06:41] When Mike had to tell his family how he lost all his money being an angel investor [10:57] How Jason found out about Profit First [13:03] Why every business owner should apply the Profit First accounting method [14:15] How Mike is driven by the Profit First system to eradicate entrepreneurial poverty [15:48] 80% of entrepreneurs are struggling check to check [18:52] Pay yourself first isn't a new concept, but Mike applies it to business [21:37] The principles of Profit First and why GAAP is crap [23:10] Get started by setting up multiple bank accounts and paying yourself first [25:39] Parkinson's Law - we get the same results with less money [34:00] How business owners need to take care of themselves financially [43:53] Mike's other books The Toilet Paper Entrepreneur, The Pumpkin Plan, and Surge Tweetables The rich guy next door with the nice house & nice car is just one bad month away from losing it all. Entrepreneurial poverty is the dirty secret in most businesses (80%) and needs to be eradicated. No matter how much you make, without putting Profit First, your expenses will eat everything. The secret to innovation is limitation. Resources Buy Profit First on Amazon Mike's Books on Amazon MikeMotorBike.com

We're living in a Prime nation, more and more of us receive packages delivered to our doorsteps every single day. But with great convenience comes greater opportunity for crime: Statistics show that mail theft is on the rise. In this episode, we're joined by August Cement, tech guru at video doorbell company Ring. You'll learn how Ring is the future of doorbells, and how creating peace of mind is the most important part of protecting your properties. You'll Learn... [2:20] What is Ring and what are the features and benefits? [5:00] How Ring protects against package theft [8:15] Why peace of mind is more important than security [10:30] Integrating with home automation systems [13:00] The story of Ring's conception and why it's not a gimmicky product [14:55] Taking neighborhood watch to a higher level [19:05] How Ring helps property managers and tenants [26:40] Do you need to be tech savvy to use Ring? [28:00] Using Ring in extreme circumstances [29:35] What happens if a thief steals your video doorbell: Ring and customer service [33:50] Community interaction [36:00] Responding to a knock on the door from anywhere in the world Tweetables Ring is about maintaining a connection to your home, neighborhood, and family regardless of where you are in the world. Our product has brought to light how common crimes of opportunity occur. Samsung and Apple couldn't see that, but Ring did. It's simplicity that makes things genius. Resources Buy Ring on Amazon If This Then That Want to talk more about how Ring works and if it's right for you? Email [email protected] to get connected to August and his team.

Picture this: One of your tenants is making dinner and accidentally starts a small grease fire in the kitchen. No one gets hurt, but wading through the homeowner's insurance claim, the tenant's security deposit, and all the paperwork and red tape is completely overwhelming. IS there an easier way to deal with tenant mishaps? Brad Larson, CEO of Larson Property Management and a key player at the National Property Management Network has a solution. Learn how tenant liability insurance protects the homeowner, the tenant, and the property management team and how to begin implementing it in your business! You'll Learn... [3:00] What is tenant liability insurance? [4:45] How tenant liability insurance protects the homeowner, the tenant, and the property management team [6:45] Making a revenue by mandating insurance [7:50] The legality of tenant liability insurance [12:15] Opt-in rates and conversion rates for renewals [15:10] How tenant liability insurance saves property managers time [17:35] Frequently asked questions [19:10] Admin fees [20:25] Is there any reason why a property manager wouldn't want to implement this insurance? [22:40] Implementing peace of mind and using insurance as a marketing tool [25:30] The difference between renter's insurance and tenant liability insurance Tweetables The Single-family-home property managers are way behind the times. We're playing catch up. Prioritize what you want to implement. Do what's easy and what will make you money first. Resources National Property Management

Why do we at DoorGrow do what we do? In this episode you'll hear an interview with Sterling Davis, a property manager who saw his 60 door business grow to 300 doors in just six months after investing in our Seed Package. You'll Learn... [3:00] How Sterling Davis first got into contact with DoorGrow and why [5:40] "If you're serious, you'll pay it": Why investing in his business motivated Sterling [9:30] Creating a brand to sell with the right tools [12:45] The results Sterling achieved in his first 6 months [13:25] Portfolio and monthly revenue breakdown [16:30] Life after the Seed Package: Marriage, business, and finances [18:15] What would business be like without the Seed package? [19:15] Sterling's thoughts on the value of following the Seed Package and getting used to being uncomfortable [23:50] Breaking down what's included in the Seed Package and what benefits you can expect from following it Tweetables I'm not here to be a property manager. I'm here to get my doors up and make money. Successful Coachable Mindset: You're the coach, I'm the player, let's do this. How can you expect anyone to value your business and invest in it, if you're not willing to? Our goal isn't just to make money from people. We're in the business of making a difference. Resources Are you serious about growing your property management business? Check out our Seed Package, the ultimate foundation for property management growth.

Most property managers are DIY landlords– they have a whole other career besides renting out properties. For the DIY landlord, there can be an overwhelming amount of things to keep track of: Tenants, maintenance services, billing and accounting, and sales. How can we end the disconnect? Enter TenantCloud, a free property management software revolutionizing the way DIY landlords do business. In this episode we're talking with co-founder Joe Edgard about TenantCloud is going to completely disrupt the property management software world. Learn how TenantCloud works, the philosophy behind the services they offer, and why the company is one to watch in the next year! You'll Learn... [2:25] Why every property manager needs TenantCloud [4:30] How free software can be just as profitable as paid software [6:05] Identifying (and solving) the pain points of DIY Landlords [9:10] Syncing TenantCloud accounting with Quickbooks [10:32] How TenantCloud plans to surpass the other property management softwares on the market [16:30] Pricing and launching for enterprise and consumer customers [19:38] What à la carte services TenantCloud offers [24:15] How TenantCloud is an end-to-end solution for DIY landlords [26:50] Does TenantClould make professional property managers obsolete? [29:10] Talking about the competition: Cozy [33:40] Beta testing and focus groups for TenantCloud Tweetables TenantCloud allow you to show a property to a prospect virtually from your desk. We're thinking big when we talk about disrupting the property management software world. Everybody wants customization. If you think you've got one solution for everyone, you're wrong. Resources TenantCloud

Rekeying locks on your properties, after the tenant leaves, can get tedious and expensive, inspiring too many property managers to skip the rekeying process entirely, opening themselves up to an uncomfortable amount of liability. Enter Prempoint: A comprehensive messaging, access control, and automation software that allows property managers to manage and grant access to their properties remotely. In this episode we're chatting with Matt Hartley co-founder and CEO of Prempoint about the newest technology in property management-keyless access. You'll learn what the Prempoint technology is, how it works, and why you absolutely can't run your business without it! You'll Learn... [2:20] All about Matt Hartley's background and his work with Prempoint [4:40] The evolution of Prempoint as a company and their mission [7:35] What Prempoint is and why you absolutely need it for your properties [11:05] The interaction between tenants and Prempoint [13:25] How affordable is Prempoint? [16:00] Subscribing to Prempoint "points" [18:15] Discussing security concerns with Prempoint [22:25] How keyless access can build (or destroy) trust with your tenant [26:35] Being software agnostic: Why Prempoint outdoes the Rently competition [30:10] Software integrations [31:45] Why Matt Hartley doesn't worry about copycats [34:20] Are you in danger of being automated out of your job? [37:00] Understanding the devices and technology that Prempoint requires [40:20] Does Prempoint replace Sentrilock for relators that double as property managers? [44:35] Prempoint's launch date for managers with 1000s of doors [49:55] Benefits of keyless access for tenants [57:10] More from Matt Hartley [58:30] Connecting with the Home app on iPhone Tweetables If you've ever used Facebook, then you can definitely use Prempoint Prempoint is a software company. We are hardware agnostic Resources Want to talk to Matt personally? Send him an email: [email protected]

How do you handle customers who never stop asking for a discount on your services? Learn how Darren Hunter, international property manager trainer and consultant, gracefully manages clients who ask for a reduction in fees and services. In this dynamic conversation we outline specific scripts and techniques you can use when haggling with clients, reasons why you shouldn't take on every client, and how to build trust between you and a client without smearing your competition. You'll Learn... [4:00] Why a property manager is not like a printing press: Avoiding discounts on multiple properties [6:30] Having confidence in your value to your client [8:28] "The Lure of the Main Game": Techniques for when a client wants to price match your management fees [19:10] How to handle other property managers pricing themselves too low [23:00] Who are C-Class owners? [26:00] Making a filter for bad clients [28:20] Scripts and techniques for dissuading landlords and vendors from asking for discounts [33:45] The benefits of having different price points for buyers [37:35] What to say when clients ask for a "small and simple" 1% discount [45:35] Why you can't afford to take on every client [54:00] The cycle of suck [56:30] A final script for battling property manager comparisons [58:00] Building trust by revealing the "dirty secrets" of your industry [1:01:30] Why studying Australian property management is interesting for Americans Tweetables If you believe you're worth it, your client will believe it too A C-class landlord is like a packet of cigarettes. They'll take years off your life You cannot afford to take on people that cannot afford you Resources Influence by Dr. Robert Cialdini "11 Wrong Property Types That You Should Not Manage" article by Darren Hunter The Pumpkin Plan by Mike Michalowicz Want more from Darren Hunter? Visit his website, connect with him on Facebook, or check out his resource library.

Learn how Noel Christopher, Senior Vice President of National Business Development at Renters Warehouse, has mastered the art of buying and selling property management businesses. In this interview with Noel Christopher, you'll learn what big box companies look for when scoping out new properties to purchase, how to property value your company and portfolio, making your business attractive to buyers, and how to find the best buyers for your company. You'll Learn... [2:15] Noel Christopher's background in commercial real estate [3:25] Renters Warehouse [6:05] The most common mistakes buyers make when acquiring a new company [7:50] How to account for and deal with churn [9:45] Is churn inevitable? [11:00] The dangers of closing too quickly and not doing your due diligence [12:40] How to evaluate a portfolio [16:40] Creating a plan for taking over a company [18:00] The biggest mistakes sellers make [21:45] How to create a business that other people want to buy [24:00] Utilizing a company's current employees when you take over [26:55] Creating an incentive for a business owner to transition into an employee [30:00] Working with brokerages and accidental property managers [33:00] Identifying the two types of acquisitions: Companies versus contracts [35:10] Is Renters Warehouse flat fee pricing applicable everywhere? [38:00] Finding people that are willing to sell [40:15] Letting go of the all or nothing approach [41:40] Should you use a non-compete? [42:35] How Renters Warehouse structures their transactions [44:44] Do you need a middleman to handle the deal between two companies? Tweetables When you buy a portfolio, you're married to the seller for a little while. The biggest mistake a seller can make is overvaluing their company. For people looking to buy a property management company, a great target audience are the brokerages that are accidental property managers. It's not about the lowest price, it's about the quality of service. Resources Want more from Noel Christopher? Send him an email at [email protected] or connect with him on LinkedIn.

Learn how Daniel Madison,CEO of 4M Property Solutions, a residential property management company uses the techniques he mastered as a corporate sales manager to cold call For Rent by Owner prospects and close the deal. In this interview with Daniel Madison, you'll learn why cold calling is an essential tool for property managers, how to get over the fear of getting told no, and what to say in your conversations with your prospects. You'll Learn... [01:15] Why is cold calling important? [03:00] How Daniel got his first 50 doors with 4M Property Solutions [04:13] Identifying the pain points of for-rent-by-owner prospects [05:10] Why picking up the phone and calling people is the best way to generate revenue [06:48] Daniel's fool-proof script for cold calling prospects [09:06] The best way to get over the fear of interrupting someone [10:30] How to overcome the biggest challenge in cold calling: Finding a source of information [13:00] Ideas for types of questions to ask your prospect to identify their challenges [17:30] The importance of giving value to your prospects [17:19] They personalize the details of your maintenance call-handling with you [19:08] Daniel's number-one goal when cold calling a prospect [21:38] Getting into the groove of cold calling [22:13] Why you should create (and stick to) a follow-up process for your clients [24:17] Techniques for keeping track of A-grade tenants [27:07] Advice and tips for new property managers [28:20] Lessons learned from hearing "no" [30:34] How to inspire your team to have the right attitude for cold calling [32:55] Power phrases to know and use [36:40] Convincing a DIY- landlord that they need your services [41:30] Getting started in cold calling Tweetables The quickest, easiest way to generate revenue is to pick up the phone and call people. We all start on the level of suck. If you're not challenged in sales then you're not going to get better at sales. Resources Get a free trial and 25% off FRBO lead services:https://pmleads.com/doorgrow Free download of Daniel Madison's cold calling script: https://drive.google.com/file/d/0B1bo76y1mf3ARFNXMVMzX3lBSjl3cFJlT0RyZVo3bzNXNzFz/view?usp=sharing Want more from Daniel Madison? Give him a call at (864) 640-8877 or send him an email:[email protected] 4M Property Solutions:http://www.4m-propertysolutions.com/

Learn about the benefits of joining NARPM from 2016 President, Bart Sturzl. In this interview, we get into the benefits of being part of NARPM, the designations you can earn (and how those can help you grow), and the importance of connecting & collaborating with your peers. You'll Learn... 03:15 What is NARPM? 05:09 Should I attend the NARPM conference? 05:55 What benefits does NARPM provide for new property managers? 11:17 Technology is causing the PM industry to grow at lightning speed: here's how. 12:04 How can independent PMs compete with the franchise players? 15:45 The PM industry has several designations. Learn how these can help your business grow! 21:38 Discover the unique insight Bart has gleaned from being president of NARPM. 26:31 Is NARPM the best source of information on how to be a property manager? 29:22 How can I join? Tweetables: "We want property managers to earn more money with less time." "Industry designations show you're a step above, and that's all that matters." "If you want where the rubber meets the road education on PM, NARPM is the place to get it." Resources: The National Association of Residential Property Managers (NARPM) Website: http://narpm.org

Learn how Andy Shinn, former AAA executive and property management business owner, came to create a competitive, maintenance coordination call center in the U.S. In this interview with Andy Shinn of EZ Repair Hotline, you'll learn about his adventure in seeking to create the premier, maintenance-coordination call-center and how they partnered up with Property Meld. Take Our Property Meld Maintenance Quiz (and get 15% Off): https://doorgrow.com/maintenance/ You'll Learn... 01:54 What is EZ Repair Hotline? 03:00 Andy's background at AAA, starting a new PM company, & how maintenance was preventing growth 05:13 How putting his family first lead to creating EZ Repair Hotline 06:28 A savvy method for researching and testing a product/service prior to launch 08:22 How EZ Repair compares to other call center options 09:30 Their two-tier system for fielding calls that includes property management specialists. 10:39 Their connection with Property Meld 13:19 About how they only hire U.S. call reps 14:25 How his executive experience at AAA influenced their processes 16:02 How they handle non-emergency calls and prevent unnecessary service calls 17:19 They personalize the details of your maintenance call-handling with you 17:47 They will even handle getting approvals from the homeowners 18:26 Andy's experience preventing negative property management reviews by providing excellent service 19:22 They will enter work orders into whatever property management software you use. 20:11 How their efficiency & processes allow them to keep their costs lower than the competition. 20:36 Why you should leverage services that have expertise instead of trying to find one person to try to match an entire company. Tweetables It is a mistake to assume you can hire a single employee that could outdo an entire company that provides a low-cost service. Property management vendors replace a single employee with an entire company that has a singular focus, tested systems, and proven processes. Resources Get 15% Off: https://doorgrow.com/maintenance EZ Repair Hotline: http://www.ezrepairhotline.com

In this episode, we revisit Property Meld with Ray Hespen after he reached out to let me know about some updates. Now you can hand off all of your property management maintenance coordination, calls, data entry, etc. to Property Meld! Take Our Property Meld Maintenance Quiz (and get 15% Off): https://doorgrow.com/maintenance You'll Learn... 02:15 Background on Property Meld 03:33 Exciting new announcement from Property Meld 04:47 How much can they actually take off a property manager's shoulders? 05:58 What impact does Property Meld have once implemented? 07:04 The importance of leveraging technology to keep staffing costs low. 07:56 Focusing only on maintenance makes them more efficient at it 08:29 Common questions PM's ask Property Meld 10:04 Their typical 3-stage onboarding process 11:50 How they can help you improve your maintenance strategy and keep you informed 13:10 How they represent your business to your owner/clients 14:03 Is their call center is based in the US? 14:34 How to find out more about Property Meld 15:09 Can Property Meld actually save a property manager money? 16:21 Their competition, including Night Tenders (now SuperTenders) & Appfolio's maintenance. 17:32 Why you should ask yourself if you would rather do maintenance coordination or spend that time growing your business? 19:42 Why you should focus on technology & systems before incurring the expense of hiring. 21:45 Be sure to get a competitive advantage of getting more done with less. Tweetables Some property managers try to save money, but really just prevent themselves from making money. Being cheap to save hundreds of dollars on software costs, doesn't make sense if it translates into spending thousands on staffing costs. Resources Get 15% off: http://doorgrow.com/maintenance/ Property Meld: http://www.propertymeld.com

Learn from San Diego real estate & property management expert about Snapchat Learn from Salvatore Friscia about Snapchat and the benefits of branding yourself an expert & creating a personal image that is real and approachable. You'll Learn... 02:09 Being innovative helped him get mentioned in a Zillow article 03:02 Marketing power and attention brought by being one of the first in his niche 03:17 Snapchat = Sexting? How social platforms evolve for business use 04:39 Gary V pushes it 04:55 What Snapchat is (in a way that actually makes sense). 06:24 You're own personal reality show 06:37 Have the intention to make it enticing and fun 07:27 Salvatore's "winning recipe" for social media 09:00 Why the 24hrs shelf-life is a benefit and is attractive 09:44 Importance of transparency in showing continuity throughout your actual day. 11:13 Stop trying to just be "professional" be real & relatable. 12:09 How Snapchat trumps other platforms - less followers, but higher engagement. 12:38 How Salvatore makes Snapchat and other social media fit into his day. 13:58 The concern of "will people find your life interesting" 15:09 Salvatore has others help him snap even during the interview 15:51 Just showcase your actual day, your real life. 16:39 How to get Snapchat followers. 18:23 Who follows Salvatore on Snapchat & does he get business from it? 19:14 How did he get featured on Zillow? 20:18 Be real - Snapchat is about reality - how it compares with Instagram 21:52 Have an intention, a purpose of benefitting your brand 23:57 Want to get good at video? Snapchat is a safe place to start. 26:01 Why we started our own Social Platform #DoorGrowClub for Property Management Entrepreneurs to connect. 27:16 Repurpose your content! Download the Story then push it elsewhere. Tweetables "In property management, we're typically slower to catch on to trends than some of the other industries" "The winning recipe is to have multiple social channels that all push people towards your favorite channel that leverages video." "Snapchat is an opportunity for you to bring reality to the property management industry and create trust" "You can fake things on Instagram, but Snapchat is real." Resources Salvatore's Company: http://SDPmanagement.com Snapchat: http://www.snapchat.com/ #DoorGrowClub http://doorgrowclub.com

Learn from Steve Murray of REAL Trends about what research says about the future of property management and where it is heading. You'll Learn... REAL Trends is a research firm worth following 1:51 The demographic shift toward renting 3:45 Causes for lower home ownership driving the rental increases 5:14 Insights from the informal poll at NARPM Broker owner conference of 600 managers 6:51 Factors driving a healthy long-term rental market for single-family residential. 7:29 Property Management industry compared to Real Estate Brokerage industry. 9:10 The ideal client - When property management becomes necessary for investors 9:58 Vacation rentals and alternatives to long-term rentals 10:54 There will be a lot of renters, but what about property inventory? 13:03 Consolidation through acquisition is a trend 13:48 The barrier to entry into property management low, but... 15:23 Staffing costs are increasing 16:51 Flipping vs buy and hold 19:18 Inventory for renters vs. the demand for rental homes 20:07 Property management is tough - what is the good news for the future? 20:52 An idea for targeting brokers 22:55 Property Management is an industry in its infancy that presents an opportunity 24:08 A novel idea for targeting developers and new homes 26:44 The surprising fastest growing group of renters - accounting for half of all growth in renters! 27:39 Tweetables "The larger you get, the better the margins." "The barrier to entry is low for property management, but legislation, liability, and staffing costs, are increasing." Resources http://REALTrends.com

Learn from mental-performance life-hacker, Jameson Brandon how you can get a mental edge and dramatically increase your productivity with Smart Drugs. Tired of burning out in the early afternoon? Or going home a tapped out zombie with nothing left in your mental tank to give to your family? Want to feel "Limitless" like the movie or TV show? Listen. My personal productivity has skyrocketed. You'll Learn 3:10 What are Smart Drugs? 3:34 The movie "Limitless" - is it possible? 7:49 Various names for smart drugs and various types. 8:41 How some nutraceuticals have been studied and used for thousands of years 8:58 Racetams created in the 60s 9:13 Entrepreneurs challenge - Shiny object syndrome 11:09 Our brain normally can only make so many decisions per day and then we get brain fatigue. 12:56 What would be the best place to start? 13:25 How to kill coffee caffeine jitters and crash with an amino acid 14:36 A natural drink combo for energy and focus 15:46 Plant-based natural nutraceuticals 17:55 Stress reduction and choline 20:16 Are these addictive? 21:36 Testing to validate what actually works 22:44 Powerful short-term and long-term memory recall 25:11 The stronger stuff you can add in next - Racetams 31:03 The best Racetam to start with and where to get it 31:46 Feeling Superhuman and how confidence is created through evidence 36:11 Increasing the effects with some lifestyle changes like meditation and a schedule 43:56 My experimentation since the original interview Tweetables Your brain only has enough fuel to get through part of the day. Smart drug supplements feed your brain. Resources Ciltep - https://doorgrow.com/go/natural-stacks/ Brain Labs Pro - http://www.mindlabpro.com/ Jameson's Free Book: http://optimizingman.com/pptsd

Learn about Property Meld, a new technology solution to save you time and money by automating your maintenance coordination between tenants and vendors, from CEO Ray Hespen. You'll learn... What is Property Meld? 1:29 Is this relevant if I already have a tenant portal to submit maintenance requests? 2:08 The problem with your property management software only taking requests instead of handling them 3:09 How much work and time is this saving property managers? 4:25 How it benefits small property managers 5:04 Will vendors use it? 5:55 Tenants & vendors don't like being on the phone 7:15 Simplicity is the key to getting tenants and vendors to use it 7:57 Vendors are pairing up with Property Meld 8:31 How does it work? 9:33 Their web app works on any device, without downloading 10:50 What if a vendor works for many property managers using Property Meld - how many logins do they have? 13:16 How easy their software platform is for tenants, vendors, & property managers 15:05 Does this compete with or work with NightTenders or Appfolio's maintenance call center? 15:59 What about emergency/after-hour maintenance? 17:51 The first thing you should get rid of 19:18 How systems trump staff/people 21:15 The hidden cost of not having systems 25:17 Pairing this with GatherKudos could be a game changer 27:50 Tweetables The first thing a property management business owner should get off their plate is emergency maintenance. Business owners should manage systems and their systems should manage their people. Systems & technology usually make fewer mistakes and cost far less, than staff. Resources Take Our Property Meld Maintenance Quiz (and get 15% Off): http://doorgrow.com/maintenance

In this episode, Darren shares a variety of owner & tenant fees & how to justify them. He also covers some additional insights into fees & mindset. Learn why having the cheapest fees is a losing tactic used by small property managers that usually fail. You'll Learn... Various owner fees & some justifications 1:29 The two ingredients to getting better fees 9:21 Outside normal duty fees & what to say when asked to do anything outside of contract 9:46 Various Tenant fees & some justifications 10:47 How nominal fee increases can easily double your profit margin 14:53 How having the cheapest fees is just a recipe for disaster 17:40 Property Management is a tough job & you are worth it! 18:49 The Law of the Main Game - Owners generally only focus on your main fee 20:08 Should you share your tenant fees with the owners? 22:47 Ensure 12+ months of owner peace of mind & make it surgical process. 25:21 Tweetables: With fees, if you believe you're worth it and know how to justify it, you will get it. Raising property management fees is an owner-by-owner surgical process. Resources: The Eleven Profit Laws on Fees by Darren Hunter: http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/the-eleven-profit-laws-on-fees-part-one http://DarrenHunter.com

Learn how to properly increase your rent-roll without adding new doors - by increasing or adding fees. You will learn from Darren Hunter his secret to justifying your additional fees by leveraging the law of alternative costs, & how little your clients really care about your competitors, & the power of peace of mind. You'll Learn How to use the Law of Alternative Cost to justify your fees 2:28 Property Managers don't charge enough for their hourly rate 5:46 Be careful of talking about specific fee amounts with other PMs 7:38 Darren has a large list of possible owner & tenant fees 8:04 Most money-tight owners tolerate fee increases & those that leave are often your worst! 9:23 Myth: Owners will go to the discount agency down the road if you increase your fees 12:47 You may be thinking about your competitors, but your clients are not 14:51 The power of "Peace of Mind" is incredibly strong 16:31 Charging less doesn't motivate owners to leave a property manager if they have peace of mind 17:27 Adding value is not necessary, just peace of mind 18:15 Basic fees differ wildly based on each property manager's self-belief. 18:49 Tweetables C-class owners are like a pack of cigarettes and they'll take years off your life. Crappy owners generally have crappy properties, which attract crappy tenants. Resources The Eleven Profit Laws on Fees by Darren Hunter: http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/the-eleven-profit-laws-on-fees-part-one

Learn how to properly increase your rent-roll without adding new doors - by increasing or adding fees. About Darren Hunter Darren Hunter - of darrenhunter.com is an Australian & international property management trainer, speaker, consultant and authority on property management, specialising in fee maximisation and profitability as well as time and stress management and property management productivity. You'll Learn... Darren's Background 2:11 Mindset is the Real Problem with Adding Fees 4:19 Our fears are often not connected to reality 6:28 The key to increasing fees is "peace of mind" 9:00 The owners you should not approach about increasing fees 12:47 Why you should not give advance notice about fee increases 15:32 How to sort your owners into 3 categories in preparation for fee increases 17:39 How to structure the letter/notification of the fee increase 19:30 Tweetables: The excuses you give for why you can't charge more, often just reveal your own mindset problems. Belief is transferrable. You have to believe in your fees to get others to believe them. Resources: 7 Wrong Mindset Reasons that Stop You Getting Better Fees! by Darren Hunter: http://www.darrenhunter.com/articles-and-knowledge-library/boosting-income-and-profitability-articles/7-mindsets-that-stop-you-getting-better-fees-everytime http://DarrenHunter.com

Learn from Kass Rose about the benefits of foreclosure auction prospecting for providing a competitive advantage in growing your property management business, without doing costly marketing. Part 2 of 2 Show Notes: Kass paints a picture of what auctions look like in her market 01:40 Flipping vs. Buy & Hold 03:56 Importance of Foreclosure Specialists 05:42 Where to hang out with investor groups before the auctions 06:54 On becoming a "Rental Rain Man" expert 07:49 Turning Flippers into Buy & Hold Investors 09:12 Be careful who you associate your business with 11:16 Closed over 3000 homes as lease-ups before starting her property management company 12:46 Let's play this what if game 13:24 What she would do now if just starting 13:44 How word-of-mouth takes hold once you are a trusted expert 14:13 Rundown of the major players in the auction scene & how you benefit them 15:06 Possibilities for growth 16:45 Don't be afraid of lease-only 17:06 Teasing listeners about our full Foreclosure Auction Prospecting Event 17:48 "I have never marketed!" - The challenges of marketing vs foreclosure prospecting 19:28 Foreclosure investors are easy property management clients 22:14 Foreclosure Auction Prospecting helped her fund her dreams 23:08 Tweetables: "People who buy & sell get rich, people who buy & hold get wealthy" "I love foreclosure investors, they look at cents and dollars, it's not emotional." Resources: http://rentlucky.com/ http://www.kassrose.com/ https://rentmyway.com/ The Foreclosure Auction Prospecting Event - This is the event Kass & I discuss doing in the interview - it is some great content.

Kass has a fun story about how she got her start in property management. Learn from Kass Rose about how she used her knowledge as an auto-sales-industry veteran to grow her business from 0 to 300 doors in about 3 years leveraging the foreclosure auction scene. Part 1 of 2 Show Notes: Lightning unicorn? 02:36 Marketing is not the best way to start 05:20 Prospecting as an Expert collapses the sales cycle 06:21 Where are the investors? 07:24 How Kass was "discovered" 08:02 Real Estate looks weird to a car salesperson 10:54 Kass "get's the glue" & doesn't wait for the "be-back bus" 13:01 How an auto industry veteran had the opportunity to create something new in property management 16:50 The beautiful thing about property management 19:49 Her unique advantage in attracting & screening renters 20:45 Tweetables: "Here's the beautiful thing about property management: It does not matter if it is a hot market or a tanking market - you will always have renters" Resources: http://rentlucky.com/ http://www.kassrose.com/ https://rentmyway.com/

Learn how Tony LeBlanc has built his process for increasing rent every year with his tenants - without the uncomfortable battles, struggle, or painful negotiations - and has turned it into an opportunity to facilitate great customer service. Tony shares some fantastic mindset & philosophy that would make any owner trust him with their property - you are sure to get some valuable insights. Show Notes: Tony had large property management growth in mind from the beginning 03:01 The Biggest Challenges with Rent Increases 03:59 The fear of raising rent, the problems it causes 05:00 There's a direct correlation between rent increases & how well a property is maintained 08:13 A good property becomes a bad property if it has a bad owner 09:04 Jason's "Cycle of Suck" 09:30 Look at each property as a business 10:58 Avoiding dealing with uncomfortable rent increases is a reason to hire a property manager 11:59 Set clear expectations about future, annual rent increases with tenants at the lease signing 12:13 Contracts don't matter until it is too late, so be sure to say it to them verbally. 14:26 The lease signing process is the biggest part of onboarding a new tenant 15:06 Tenants forget. How Tony prepares tenants in advance, with phone calls. 16:20 The power of regular phone calls to every tenant 17:29 Ground Floor's process for these tenant phone calls 19:02 Good idea to shortcut this with email? 19:40 The advantage of being small & the barrier to feedback created by having a team 20:35 What about dealing with owners when tenants push back? Aim for 80/20 on increases. 21:37 The owners rely on you to be the expert - communicate income challenges & forecast for investors 23:18 Display confidence that you are the expert. 25:20 "No news is good news" is a bad strategy: The importance of positive touch-points with owners. 25:44 When clients/owners reach out for updates - that's an indicator that you aren't communicating often enough. 28:08 Tony's winning philosophy regarding treating owners as business owners 29:19 If you haven't been doing effective rent increases, how to start 30:46 Rent increases are a necessity to keeping your property management business running well. 32:01 Tweetables: There's a direct correlation between rent increases & how well a property is maintained A good property becomes a bad property if it has a bad owner 'No news is good news' is a bad strategy for client retention because it means all news will be bad news. Make your property owners feel like a business owner with a team behind them. Resources: GatherKudos Ground Floor Property Management

The second half of the interview with Michael Monteiro of Buildium. Hear some great book recommendations, discussion about customer service, hiring, and more. Show Notes: Accuracy & Availability in Property Management 01:22 Partnership & Advice in Property Management 04:00 The Top Lead Sources for Property Managers 05:51 Word of Mouth & Referrals are not enough - Diversify to Grow 06:45 The Blindspot of Selling Property Management 08:24 The Importance of Having Multiple Channels to Hit Growth Goals 09:18 Get Clear on What The Owners Want 11:25 To be Competitive - Leverage the Right Technology 11:46 The Biggest Property Management Challenges 12:16 GreatSchools - per Capita income as a Tool to Select Areas to Manage 12:56 Technology is Critical to Success 15:19 Hiring Is a Common Barrier to Growth & Helps You Focus on the Business 15:40 The Painful Transition from Solopreneur to Having a Team 16:54 Whenever you fail to inspire, you always control. 17:46 Organizational Health: Cohesion, Clarity, Over Communicate, Continue to Over Communicate it 18:46 The Importance of Having Clarity of Vision or a "Why" 20:32 Incentivizing Good Behavior or Performance With Money vs. Inspiration 21:24 When you share your purpose & values clients won't worry about the specifics once they trust you. 22:53 Even if some marketing channels aren't performing as well they have different audiences 26:16 Tweetables: "If you're perfectly available and perfectly accurate, you're just NOT screwing up. That's expected and demanded." "It's not enough to rely on just word of mouth & referrals. Property managers are having to diversify." "Whenever you fail to inspire your team, you always waste energy trying to control them." Resources: FCC Disclaimer: Wherever possible we make our links to 3rd-party sites affiliate links, which may compensate us. This does not imply that we endorse them, we are just being helpful & smart. Book: First Break All the Rules State of Property Management Report GreatSchools Book: E-Myth Revisited Book: The Advantage Book: Start With Why Buildium

The first half of the interview with Michael Monteiro of Buildium. Learn about Michael commuting by boat, AllPropertyManagement, and more. Show Notes 12,500 Customers! 01:52 Michael Commutes by Boat 02:05 Buildium's Backstory 02:47 How Buildium Stands Out Among Property Management Software 05:25 The Importance of Ease of Use in the User Experience 07:37 About The State of the Property Management Industry Report 09:23 Understand the Competition to Remain Competitive 11:29 Various Services Property Managers Can Add 13:31 You May Need to Fire Some Clients 15:42 Flat Fee Vs Percentage-Based Firms 16:28 Avoiding Being Just a Commodity 18:25 "Other" Pricing Variations 19:33 The Advantage & Challenge of Low-Flat-Fee Property Management Firms 20:44 Avoiding The Cycle of Suck 21:03 Your Ideal Customer Profile (It's not anyone or everyone) 22:40 Importance of Focus - "Managing an association is very different than managing a rental. It's hard to get really good at what you do if you don't have focus. It's also hard to differentiate." 23:39 Start Firing Worst Clients 24:22 Knowing Property Owners' Pain Provides Opportunity - Focus on Rental Marketing & Tenant Placement 25:07 Importance of Prompt Communication with Owners (Not Just Tenants) 27:16 Tweetables Know your ideal customer profile so that you can direct all of your sales, marketing, & efforts to attract more. If you're targeting everybody in marketing, you're targeting nobody "Managing an association is very different than managing a rental. It's hard to get really good at what you do if you don't have focus. Resources State of the Property Management Report Buildium (Affiliate Link)

Jon went from closing 3 doors a month to closing 30 in just 2 months as a result of getting coaching. Hear Jon discuss how he got results by working with Jason on everything other than business, first. Show Notes "You made my husband a better man" 01:16 Zero Years of Property Management Experience? 02:26 How He Discovered Jason for Coaching & Learned About the 02:57 Why Jon Started Coaching 04:14 What is coaching? 05:01 Jon's Mindblowing Realization - It's Not All About Business 05:56 The Frustrating First Month of Coaching - Health & Marriage? 06:09 Body Being Balance Business - But What About Business 07:52 Big Scary Goal of Adding 20 New Doors in 90 Days 08:11 Hit 19 Doors in First 30 Days! 09:10 The Game Changer of Mindset, Confidence, & Sales Trainings 09:43 Jon's New Problem: Too Much Growth 10:32 Now Firing Doors & Focusing on Revenue 10:53 Would Coaching Make Sense For Others? Who's a Fit? 11:20 Not Just Property Management: Meditating, Green Drinks, & Marriage? 12:17 Try Coaching for 30 Days - "My thing is...What if it works?" 14:42 "I realized if I get one deal out of this, it's paid for itself - I just can't believe the value." 12:04 "I found out really what was holding me back - had nothing to do with business - it had really nothing to do with property management." - Jon Westrom 05:56 Resources Westrom Group Property Management