The Profitable Property Management Podcast

Welcome, Closers! Today, I'm interviewing Peter Lohmann, Co-Founder & CEO at RL Property Management. From engineer to entrepreneur, Peter applies his systems and processes thinking to his property management business. What Peter loves about starting and growing a business? He says you're constantly at the limit of your capabilities. "Every time you add a few hundred doors, everything breaks – and you have to rework your processes and redistribute workload among employees." - Peter LohmannFor more from Peter, catch him on Twitter: https://twitter.com/pslohmann

Welcome, Closers! Today, I'm interviewing Ralph Reahard, Broker at Real Property Management Richmond Metro. We take a good hard look at wealth creation through REI ahead of this year's PM Syndication Summit.I take extreme interest in this topic as it feels obvious but also a pain in the ass; it's both within striking distance and yet not quite there. I strongly endorse and recommend you consider showing up for the PM Syndication Summit - I'll be there. (No, I'm not getting paid to say this.)For more information, go to:https://pmsyndicationsummit.comSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing Scott Brady, Owner, Broker & President at Progressive Property Management, Inc.Scott wastes no time digging into the numbers of property management and association management. He has spent his career building, testing and evolving his company - all while reading about a book a week. He says the industry is currently in a race towards delegation, automation, implementation and operating more efficiently to improve margins. Where do you stack up in this race? "The good are getting better, and if you're not incrementally improving your company – the aggregation of small gains, making tiny improvements everyday in your company, embracing change, implementing it – you could be left behind." - Scott Brady"Simplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing Lyle and Taylor Haas, father-daughter duo at Colorado Realty and Property Management, Inc. I ask them about the distinction between: family vs sports team. Is the family-owned company a family or a sports team? They say it's more like the organization is going to the Super Bowl.Simplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing Ben Sencenbaugh, President & Owner of The Realty Medics. Ben took me on a journey back to his days working on planes and space shuttles (cool, right?) and how his career evolution brought him to where he's at today - the single family residential space. Along the way, he explains why and how he applies his process mindset to the business to ensure all systems are always a go. "Where are the wheels spinning instead of moving forward and why?" - Ben SencenbaughSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing DD Lee, Broker/Owner of Skyline Properties Group, inc. Listen in as we cover a variety of topics, including what and who she attributes her sales training to, her mindset around self doubt, and her encouragement for entrepreneurs in the space that are in constant pursuit of their next challenge. For the scalers and the sellers, this episode is for you. "Are we going to be able to do this? Well, you don't know until you try." - DD LeeSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing Daniel Craig, Founder & CEO of ProfitCoach. I go way back with Daniel. Listen in as we cover a variety of topics, including the three steps you need to take today to 3X your profits:#1) Get Clear#2) Define The Target#3) Stay On Track"What we want our clients to do is really understand their why. Why are you in business?" - Daniel CraigSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing Andrew Smallwood, VP of Revenue at Second Nature. Listen in as I cover a variety of topics with Andrew, including takeaways from his Cutco days, why it's important to be categorically different (*queue purple suits*), and how fine-dining experiences truly feed Andrew's soul. "The question is, ultimately, how are you innovating and radically differentiating yourself from everybody else so that everyone else is compared to you, and not you being compared to something else." - Andrew SmallwoodSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

A few years back, a friend of mine in the industry and I collabed to materialize a fun idea we had – host an industry-wide event where there were a ton of stellar speakers, a variety of ways attendees could learn and walk away with something they would want to immediately implement, and have a great time. This was the birth of PM Grow. Today, I'm no longer involved. Here are some reflections and lessons learned about my time copiloting.Simplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing John R. Bradford, III, North Carolina State Representative and CEO & Founder at PetScreening. Listen in as I cover a variety of topics with John, including what it takes to lead from the front, how he climbed the corporate ladder at ExxonMobil and IBM before going all in on property management, and why you're never too good to clean someone else's toilets. "I would not sell you [an investment property] that I wouldn't buy myself, and in fact, if you don't buy it, I might." - John BradfordSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Welcome, Closers! Today, I'm interviewing Jennifer Stoops, Vice President Corporate Development at PURE Property Management. Listen in as I cover a variety of topics with Jennifer, including what lead her to property management, her takeaways from owning and operating a bakery, the emphasis she puts on people, culture, and community, and how she continues to expand her involvement in the industry. "You never work harder until you work for yourself." - Jennifer StoopsSimplify sales, streamline operations, grow faster, and scale your business. To learn more about LeadSimple, go to LeadSimple.com/Podcast today.

Welcome, Closers! Today, I'm interviewing Clay Lehman, CPA, Licensed Florida Real Estate Broker and President of Resolute Asset Management.Listen in as I cover a variety of topics with Clay, including key learnings from high-stakes experiences throughout his career, how dialed-in processes directly impact his ability to scale Resolute Asset Management, and his advice for anyone that wants to get into real estate."I wanted to diversify my revenue streams so that I could weather that and not have to have the stress of growing and shrinking." - Clay LehmanSimplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here

Welcome, Closers! Today, I'm interviewing Todd Ortscheid, CEO at GTL Real Estate. Listen in as I cover a variety of topics with Todd, including how he compares property management processes and systems to the safety of the airline industry, the correlation between involvement and the vendors that are providing the best service, and how he'd prefer to spend his time. "People don't die, usually, in property management when you make a mistake, but people lose money!" - Todd O.Simplify sales, streamline operations, grow faster, and scale your business. Learn more about LeadSimple - click here.

Jordan discusses the PM Systems Conference with Paul Kankowski.

Mike and Dylan talk about their new book "We Secret Shopped You" and what it says about the state of sales in property management.

Raymond and Jordan riff on the state of the industry, growth challenges and everything in between.

Get ready as Paul and Jordan dig into the main idea behind his seminars on making systems successful within your business. (00:30): Introduction(01:30): Paul’s Business - Where it’s at today(05:00): Crisis can be a Catalyst(08:00): Remote Team Members vs Systems (10:40): Challenges of Systems and Change(11:00): Power in Knowing Limits(14:00): Policies and Procedures enhance Systems(16:20): Why go “All-In” on Systems?(22:00): What makes Remote Teams difficult?(28:00): Describe your Sold-Out Workshops(34:05): Advice for someone new to Systems?(37:05): Automation in the Industry?(39:30): What is the end-game of business for you?(41:00): Closing

(00:30): Personal Life and Self Development(05:00): How do you deal with skeptics?(07:45): What do you get from your agenda?(11:20): How has your view impacted your day to day life? (13:30): Universal desires and the appeal of the employer(18:50): Fighting against the grain(22:15): How do you cultivate your leaders?(26:00): Does your nature change reflect in your business? (33:30): The Meaningfulness of work(37:30): Handling the tension(40:30): What do you hope your readers take away?(44:00): What is the end game of business for you?(45:00): Closing

(00:30): Introduction(01:30): Tony’s Background(05:00): What does your company look like today?(07:45): How did you decide to get started? (11:10): Why franchise in this new venture?(13:20): Landscaping and PMs(17:30): Why make that a separate brand?(19:20): Perspective of a multi-business operator?(23:00): Infrastructure in Multiple Businesses(26:30): Departmental vs Portfolio Management(29:30): What are other related business added on since?(34:30): What can others get from your book?(35:30): Closing - (To Be Continued)

Topics covered:(00:45): Intro(01:45): How do we get things done?(04:05): Jordan’s Wins and Losses(05:30): Exemplary Team Members(07:00): The Power of Collaboration – Building a Powerful Team(11:30): Conditions of Success(17:00): Employment is a Two-Way Street(21:30): Help People Help Themselves(24:30): What’s In-Between?(28:30): Final ThoughtsResources Mentioned:Ryan Hanley PodcastJim Collins Work“Team of Teams”

Topics covered:(00:45): Introduction to the Power of No(02:45): Lower vs Higher Priority items: A Task for You(04:05): Operator or Investor: You’re not stuck(06:00): What Do You Tolerate?(12:05): Work on the Business rather than IN the Business(14:00): “No” Can Help You Grow(16:30): Entrepreneurs and the Unique Ability(18:40): Satisfaction isn’t something to be ashamed of(19:30): Final Thoughts

Topics covered:(00:45): Introduction to the Institutional Imperative and Warren Buffett(03:00): How it Relates to You – Local vs Global Maxima(04:45): There Will Be Failures(06:00): Forecasting Your Business(08:05): WWJBD – What Would Jeff Bezos Do(09:50): Intention over mechanics(11:45): Managing to Proxies(14:15): Objectively Invest Resources – How To(16:00): Momentum To Drive Momentum?(19:15): Get Serious on ROIC(22:00): Determining Your Future(23:10): Final ThoughtsResources Mentioned:Outsiders by William Thorndike

Topics covered:(01:00): Jordan’s Philosophy – Own the Outcome(02:15): Review Weakness(06:25): Working on Growth Outcome(07:20): To Blame or To Own – Delivering Outcome(08:40): What are your clients paying for?(11:00): Power in Knowing Limits(15:00): It’s Hard Work(15:30): Investor turned PM (17:10): Own the Outcome for your Client(19:00): Profit Helps Your Quality and Scope of Services(20:45): Sales vs Leads(22:10): Final Thoughts

Topics covered:(01:00): Are leads for growth strategy?(02:15): What makes the growth wheel turn?(03:45): Review’s have a direct relationship to the customer?(04:35): Are you married to your concept?(05:20): What are you doing for your brand and is it clear to the customer?(06:45): Communication marketing strategy?(10:05): What marketing entails?(12:10): What is your legion strategy?(14:15): What is your cost per sign contract?(15:18): Are you able to hit target sales?(16:14): How do you calculate conversion rate?(18:50): Operationalize your sales function ?(20:08): Respect the finance function?(28:13): Different ways to prospecting?(29:17): Closing statement

(00:23) – Introduction (02:55) – background of Atrium? (03:52) – My business partner and acquisition of Atrium ? (06:00) – Unit type break down ? (family types, duration) (07:14) – Outcome of organic growth? (10:00) – Information about BNI groups ? (15:44) – What is the time commitment? (16:35) – What is the turn rate of the group? (18:08) – The parameter of the group? (Territory) (19:09) – Commerce side business in the BNI groups? (22:40) – Business relationships with a realtor,broker? (25:38) – Idea of brokerage, affect on sales? (26:30) – Structure of return on deals? (27:45) – Management of growth, pushing strain and incentive?(32:10) – capacity of a P.O.D.? (33:00) – benefits of one point of contact? (37:10) – Partner relationship? (40:46) – difference between a visionary and integrator? (43:25) – Scheduling meetings with your partner? (Formal or informal) (46:36) – Personal growth, Education,Inspirational motivation? (52:05) – Habits or virtues, forcing function of enabling work? (56:12) – Lifetime personal achievement

(0:25) – Introduction(1:05) – What is Properly?(1:50) – How is the Short Term Rental Space Changing?(3:20) – What Percent of Short Term Rentals are Professionally Managed?(5:00) – What is Properly Doing Different in the Market?(7:35) – Why is Properly More Qualified to Take Care of Quality Assurance?(8:50) – What Does Properly Look Like Today?(9:20) – How Often Does a Maintenance Event Occur?(11:40) – How is Coordinating the Handyman Different From the Home Cleaner?(13:10) – How to Confirm the Quality of a Technician’s Job?(14:15) – Do Jobs Tend to Happen with the Guest Present?(14:35) – How are the Technicians Managed?(18:30) – How Does Alex Filter out Technicians?(19:40) – Will the Same Processes Work on Long Term Rentals?(20:25) – Does Properly Integrate with Other Softwares?(22:20) – What “Smart Tech” is Being Used in Properly’s System?(24:45) – How Do Property Management Companies Justify Outsourcing Such a Key Aspect of Their Business?(25:50) – Was There Push Back From Property Management Companies Not Wanting to Share Vendors?(29:20) – How Did Alex Start in a Two Sided Marketplace?(31:30) -Geographically What has Guided Properly to Certain Markets?(34:00) – What is Properly’s Pricing Strategy?(36:40) – Are Entrepreneurs Born or Bred?Resources mentioned:Properly

Today I’m interviewing Steve Rozenberg and Pete Neubig of Empire Industries. Empire Industries was cofounded by Steve and Pete out of necessity for their own investment properties. Over the years since it’s origin Empire Industries has grown into one of the top residential property management companies in the country. Specializing in frustration free property management. In this episode of The Profitable Property Management Podcast we go in-depth into how Pete and Steve have built such a profitable business.

Today I’m interviewing Joseph Edger of TenantCloud. Joseph started out in real estate at the age of 14, and has continued to grow his business from there. In 2008 Joseph joined TX Governor Perry’s office to manage millions in state authority focused on helping new companies with growth. Most recently founding TenantCloud Joseph has developed a company with a cloud based business model helping tenants, landlords and service pros.

Today I’m interviewing Ray Hespen, CEO and Co-founder with David Kingman of Property Meld in Rapid City, South Dakota. A company that specializes in solving problems with property maintenance and helping people live better, less frustrating lives.

Today I’m talking with Alex Osenenko formerly of FourandHalf. Alex Osenenko, the former CEO of Four and a Half, joins me tonight in a farewell address the night prior to the PM Grow Summit '19. Listen as we talk shop on PM Grow and what the future holds for Alex.

Today I’m talking with Dan Butler of CrestCore. Dan Butler was a real estate investor, but wanted better management for his properties. So he teamed up with Douglas Skipworth to cofound CrestCore Realty. CrestCore Realty based in Memphis TN, Specializes in all things rental houses so you can focus on growing you real estate portfolio.

Mike was first introduced to entrepreneurship and construction through his father, and eventually led to him purchasing his first homes. Since then, Mike has become a force to be reckoned with in the industry.

While in law school, Michael fell in love with real estate, buying his first investment property while balancing a full course load. That love of real estate led Michael to practice real estate law for 8 years, becoming a partner at North Carolina’s largest residential real estate law firm. Heather was originally in Oil and Gas but quickly switched her career path upon crossing paths with Michael while searching for investments in the Dallas area. In 2017, the two began RentBridge full time.

Today I am talking to Rich Ford , Chief Development Officer and Co-Founder of Roofstock, a company that provides all of the resources for investors to buy, own and sell real estate online, including data analytics, property management oversight and other tools.

Today I’m speaking with Scott Fritz. Scott is life-long entrepreneur and MAP Development Partner in Austin, Texas with over 20 years as an entrepreneur and strategic developer and Scott also happens to be an EO Certified Facilitator. In 2010 Scott authored The 40 Hour Work YEAR and has used his book as a platform for assisting numerous other entrepreneurs. Scott has been an active Angel Investor since 2001, investing in over 30 different business ventures.

Today I've brought back Alex Osenenko, President and CEO of Fourandhalf and my good friend to discuss upcoming events and changes to property management. During this episode we will discuss some of the upcoming events, some background on speakers for the PM Grow Summit and of course, growth!

Today, I’m talking with Lou Brown, Founder of Certified Affordable Housing Provider ,Owner of Trust Properties and CEO at Street Smart Systems. Lou has a multi-faceted background as a real estate investor as he has been buying property since 1976. He has put time and effort into single-family homes, apartments, hotels, subdivisions as well as renovations for homes and apartments. These experiences give him a time-tested outlook on property management today. Lou is also known for wanting to share his discoveries with others. Being a teacher at heart he enjoys sharing his discoveries with others.

In the 2nd portion of this 3 part series, I am talking with Brad Larsen of RentWerx Property Management. Together, he and I discuss the ins and outs, ups and downs of current practices and what we can look forward to with the implementation of NARPM standards.

Today, I’m discussing the NARPM Accounting Standards (NAS) with Danny Craig in preparation for the NARPM Broker/Owner Conference February 25, 2019. The first episode of this series is designed to provide you with some basic insight into the current practices and standards in place and some insight to any upcoming changes.

Today, I’m talking with Matt Leschber. Matt is the broker, owner and founder of 1836 Realty. 1836 Realty was founded in 2005 and operates within the Central Texas area, specializing in full service property management as well as make-ready services and in-house sales.

Today I am talking with Lisa Wise, President and Co-Founder of Nest DC, Roost DC and Starling DC. Lisa spoke at PM Grow Summit in 2017 and will be speaking at PM Grow Summit 2019 this year as well! Roost DC began in January of 2015 and is one of only a handful of employee-owned management companies in the country. Nest DC manages residential rental units throughout the Washington, DC area. Nest is also a licensed general contractor through Starling DC, which works in design and renovation. Lisa’s companies were founded on the very principle that giving back is the only way to get ahead.

Today, I’m talking with Steve Crossland, the owner of Crossland Real Estate Team, a local team in Austin, Texas working with Keller Williams. Steve has been on the show before, but we had to have him back to discuss 2019. Steve is pretty much the opposite of one of these guys that’s trying to get to 10,000 doors at all costs. He’s running a clear, tight playbook and there’s a level of intentionality around balancing profit and growth that I want to tease out and discuss on the show. So this should be an exciting episode for anybody that is managing less than 500 doors and is kind of wondering, “Do I need to – do I have to grow? Can I be profitable where I’m at?” If you want some more clarity around those types of issues, then this should be the episode for you.

Today, I’m talking with Jay Papasan, the Vice President of Publishing at Keller Williams and Co-Founder of Papasan Properties Group and co-author of The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results, which has sold over a million copies worldwide and made more than 400 appearances on national bestseller lists. In his book, he shares a philosophy that lets you have fewer distractions and less on your plate while producing more, increasing your income, and getting more satisfaction from life. In today’s episode, you’ll learn what this unique approach to productivity is and how you can use these lessons to improve your property management business.

Today, I’m talking with Dylan Kindler and Nick Kim. Dylan is an entrepreneurial operator and investor with specializing in a financial and strategic approach. He is the Senior Associate at Parkstone Growth Partners, based out of New York. Parkstone Growth Partners is a private investment firm dedicated to building entrepreneurial businesses and creating long-term value in the Healthcare, Insurance and Consumer markets. Nick Kim is the Head of Platform at Crosscut Ventures, a startup seeder founded in LA, the firm has been working with entrepreneurs in southern California since 2008. Nick is an entrepreneur, investor, and general manager with an aim to help companies grow.

Today, I’m talking with Michael Cook, the Chief Operations Officer of Streetlane Homes, a real estate investment and property management firm serving Atlanta, GA, Chicago, IL, Houston, TX, Las Vegas, NV, Miami, FL, Phoenix, AZ and Nashville, TN. Michael is also the Director of Asset Management for GTIS Partners, a leading real estate investment firm in the Americas, headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Paris and Munich Listen in as he shares how he has continued to have high performance while maintaining a market for single-family homes nationwide.

You may or may not have heard Jordan talk about the importance of operationalizing sales and marketing - and why it's the difference between results and flailing. A good lead source is not a growth strategy, nor is hiring a BDM... For your growth plans to succeed in 2019, you are going to need a robust sales process that is capable of producing consistent results, regardless of who is in the sales role. On this podcast we discuss the building blocks of building an effective sales process from the ground up with Jeremy Pound from Juicy Results. Jeremy has worked with property management teams at all stages to completely redefine their approach to sales - and the results have been awe inspiring.

Today, I’m talking with Steve Welty, the owner of Good Life Property Management which is based in San Diego. After selling his share in another property management firm in 2013, Steve started Good Life with the goal of providing the highest level of customer service and best customer experience in the industry. In the years since, not only has Steve accomplished that, but he has also done so while building a business that supports the lifestyle he is looking for. In today’s episode, Steve and I discuss the importance of Masterminding, how it has helped shape business and what makes a good Mastermind.

Today we're taking the Profit vs Growth head on in a lively debate between a marketer, a CPA and a growth minded property management entrepreneur. Should you focus on doors, dollars, EBIDTA? Check out this royal rumble with Alex Osenenko, Greg Crabtree and Brad Larsen on Profit versus Growth

Today, I'm talking with Brenton Hayden, the founder of Renters Warehouse and a true OG in the property management industry. Before there were rollup plays like HomeRiver, before VCs were dropping tens of millions to back companies like mine, before anyone in high finance could even be bothered to think about little old property management, Brenton Hayden was dreaming and scheming about how to build an empire in this sleepy little industry. I've known Brenton for awhile now. Brenton originally came on my radar screen, actually by hearing some competitor in his market kind of complain about him and his success and his swagger, and the fact that he was young and had a growing company. And, “How did he deserve that?” Which was interesting. It was a mental note for me. Then I met the guy. I got to know him, got to learn more about what he was doing, and it's been fun to watch his success. So, you know who Renters Warehouse is if you're listening to this right now, it requires no explanation. The company's blown up since Brenton departed. Brenton took an early retirement at the age of 27, but he's taken some time out of his busy non-schedule to jump on this podcast.

Today, I'm talking with Leah Slaughter of OmniKey Texas. We're going to talk shop about what makes them unique, and how they have grown to scale, while still maintaining a personal touch.