Today's Flashback Friday is from episode 281 released last October 9, 2012. Jason Hartman has his mom back on the show to discuss her DIY property management/self-management strategies and one of her tenants who has occupying a property for 23 years - no vacancy! Then Jason interviews his Birmingham, Alabama Local Market Specialist (LMS) and talks to a caller/listener with some good real estate investing questions. Here's an excerpt from Wikipedia on this market: Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. The city's population was 212,237 according to the 2010 United States Census. The Birmingham-Hoover Metropolitan Area had a population of about 1,128,047 according to the 2010 Census, which is approximately one-quarter of Alabama's population. Birmingham was founded in 1871, during the post-Civil War Reconstruction period, through the merger of three pre-existing farm towns, notably, former Elyton. It grew from there, annexing many more of its smaller neighbors, into an industrial and railroad transportation center with a focus on mining, the iron and steel industry, and railroading. Birmingham was named for Birmingham, one of the major industrial cities of the United Kingdom. Many, if not most, of the original settlers who founded Birmingham were of English ancestry. In one writer's view, the city was planned as a place where cheap, non-unionized, and African-American labor from rural Alabama could be employed in the city's steel mills and blast furnaces, giving it a competitive advantage over industrial cities in the Midwest and Northeast. From its founding through the end of the 1960s, Birmingham was a primary industrial center of the South. The pace of Birmingham's growth during the period from 1881 through 1920 earned its nicknames The Magic City andThe Pittsburgh of the South. Much like Pittsburgh, Birmingham's major industries were iron and steel production, plus a major component of the railroading industry, where rails and railroad cars were both manufactured in Birmingham. In the field of railroading, the two primary hubs of railroading in the Deep South were nearby Atlanta and Birmingham, beginning in the 1860s and continuing through to the present day. The economy diversified during the later half of the twentieth century. Though the manufacturing industry maintains a strong presence in Birmingham, other businesses and industries such as banking, telecommunications, transportation, electrical power transmission, medical care, college education, and insurance have risen in stature. Mining in the Birmingham area is no longer a major industry with the exception of coal mining. Birmingham ranks as one of the most important business centers in the Southeastern United States and is also one of the largest banking centers in the United States. In addition, the Birmingham area serves as headquarters to one Fortune 500 company:Regions Financial. Five Fortune 1000 companies are headquartered in Birmingham. In the field of college and university education, Birmingham has been the location of the University of Alabama School of Medicine (formerly known as the Medical College of Alabama) and the University of Alabama School of Dentistry since 1947, and since that time, it has also become provided with the University of Alabama at Birmingham (founded circa 1969), one of three main campuses of the University of Alabama, and also with the private Birmingham-Southern College. Between these two universities and Samford University, the Birmingham area has major colleges of medicine, dentistry, optometry, pharmacy, law, engineering, and nursing. Birmingham is home to three of the state's five law schools: Cumberland School of Law, Birmingham School of Law, and Miles Law School. Birmingham is also the headquarters of the Southeastern Conference, one of the major U.S. collegiate athletic conferences. Follow Jason on TWITTER, INSTAGRAM & LINKEDIN https://twitter.com/JasonHartmanROI https://www.instagram.com/jasonhartman1/ https://www.linkedin.com/in/jasonhartmaninvestor/ Learn More: https://www.jasonhartman.com/ Get wholesale real estate deals for investment or build a great business – Free course: JasonHartman.com/Deals Free White Paper on The Hartman Comparison Index™: https://www.hartmanindex.com/white-paper Free Report on Pandemic Investing: https://www.PandemicInvesting.com Jason's TV Clips: https://vimeo.com/549444172 Free Class: CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Special Offer from Ron LeGrand: https://JasonHartman.com/Ron What do Jason's clients say? http://JasonHartmanTestimonials.com Contact our Investment Counselors at: www.JasonHartman.com Watch, subscribe and comment on Jason's videos on his official YouTube channel: YouTube.com/c/JasonHartmanRealEstate/videos Guided Visualization for Investors: JasonHartman.com/visualization Jason's videos in his other sites: JasonHartman.com/Rumble JasonHartman.com/Bitchute JasonHartman.com/Odysee Jason Hartman Extra: https://www.youtube.com/channel/UC0qQ… Real Estate News and Technology: https://www.youtube.com/channel/UCPSy…
Instagram Post on Property Management: https://www.instagram.com/p/Cd-2iGhs-XL/YouTube Video on Roasting : https://www.youtube.com/watch?v=_Py8JOi3REgFor more info, check us out at makeitraincapital.com.Welcome to Make It Rain: Multifamily Real Estate Investing for Millennials! We're Daisy and Luc, two millennials who love multifamily investing. With every episode, whether we're discussing a special topic or have on an amazing guest, the goal is to provide education and resources for anyone interested in investing in multifamily real estate, especially if you're a millennial. We're excited to chat with you about the what's, the why's, the how's, the who's. The best way to show support is to share it with anyone who might benefit from it and leave us an awesome review. Check out our website at makeitraincapital.com for more goodies. Take action on your financial future TODAY!
Have you also been considering short-term rentals to increase your NOI?! Jessica Ryan joins us to share valuable knowledge on considerations when planning your short-term rental! Jessica starts off by explaining the main points of the Chicago Shared-Housing Ordinance and how to get a license for a short-term rental. She touches on notice requirements to other tenants, percentage of short-term rental rentals allowed within a building, and other limitations to consider when planning a short-term rental. Jessica closes by sharing some of the more interesting/goofy short-term rental stories that she has seen in her legal practice. Listen to this one closely so that you plan your short-term rental correctly and don't need Jessica to represent you in court! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Jessica Ryan from KSN Law Link: Network Recommendation (Tim Jacobs) Sponsors: Prime Lending and Appeal.tax ----------------- Guest Questions 02:28 House Provider Tip: Look out for leaks when turning on your water spigots this spring! 04:20 Intro to our guest, Jessica Ryan! 05:20 How did short-term rentals start in Chicago? 07:59 What are some of the requirements of the short-term rental ordinance? 14:23 How do you start the process to obtain a short-term rental license? 15:58 Are there any legal notices required to other long-term tenants when adding a short-term rental to a building? 20:40 What are some of the main points that cause application denials? 24:25 How many short-term rental units are allowed in multi-family buildings? 28:13 What are the requirements for individual room rentals? 30:40 What rights does a long-term landlord have on a tenant running an authorized short-term rental in their unit? 33:13 Any funny/interesting short-term rental stories? 37:15 Does Jessica foresee modifications to the Ordinance in the near future? Wrap Up Questions 40:20 What is Jessica's competitive advantage? 40:53 What is the one piece of advice for new investors looking to buy their first property in Chicago? 41:29 What do you do for fun? 42:31 Good book, podcast, or self development activity that you would recommend? 43:28 Local Network Recommendation? 44:17 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.
At DoorGrow, we have some of the savviest property entrepreneurs on the planet in our DoorGrow and Scale Mastermind. Brannon Potts is a property management business owner in North Texas, who joined DoorGrow with only 71 doors. In only 3 months, Brannon was able to grow his business to over 100 doors with 70 more on the way! Join property management growth expert, Jason Hull, as he interviews Brannon Potts, a DoorGrow client. Brannon shares his experience with DoorGrow and how he has seen it make a beneficial impact on his business. You'll Learn… [01:12] Meet DoorGrow client Brannon Potts [04:42] Investing in Yourself and Your Business with Coaching [07:27] What Makes Jason and DoorGrow Different? [13:09] DoorGrow's Two Key Ideas… [20:07] Finding Fulfillment by Growing and Scaling the Business [22:49] How Brannon used DoorGrow's Script to Add Doors [27:08] How You can Grow and Scale Your Business Tweetables “We have these moments as coaches where we feel like-- it's similar to as being a dad and seeing your kid get an award or do something.” “As you've been building your business, it could get uglier and more painful, but we always try to make sure that the client understands that's the wrong way to do it.” “Good, coaching or good marketing or good anything that you're going to pay for should give you an ROI, right? That means it's a good investment.” “A lot of people are thinking ‘I'd rather just spend money. I'd rather just spend money because it would save me time,' That's a cost. That's not an investment.” Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive TalkRoute Referral Link Transcript [00:00:00] Jason: For those that are on the fence, thinking about DoorGrow maybe they've heard about DoorGrow, what would you say? [00:00:05] Brannon: You might not like this, but I think it's so good, sometimes I wouldn't want to tell anybody cause it's so good for people. [00:00:12] Jason: All right. Welcome, DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you're interested in growing in business and life, And you're open to doing things a bit differently, then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income. [00:00:49] At DoorGrow, we are on a mission to transform property management, business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market and help the best property management entrepreneurs win. I'm your host property management growth expert, Jason Hull, the founder and CEO of DoorGrow. Now let's get into the show. [00:01:12] And my guest today is one of my clients, Brannon Potts. Brannon, welcome to the show. [00:01:19] Brannon: Thank you. Thank [00:01:20] Jason: you. [00:01:21] So it's good to have you. So Brannon, you're a client that I really enjoy working with. 1. Because you just do what I tell you to do, and it works and you're doing the right things. So I appreciate you as a client because that's always fun for me is to have clients that like, believe in what we're doing, and get it. And do it. You know, starting out, why don't you tell everybody a little bit about how you got into property management in the first place? [00:01:47] Brannon: Sure. I think it was back-- late 2016. We were actually doing well in our sales business but had a friend give us some advice about getting into property management and you say it, even in the intro: at first, I didn't have just a great perception of property management, but I said, okay, I'm going to get into this business, learn it. I didn't know it very much. I didn't know it really much at all. And we began to grow. And over these years, we just, we grew a little bit and happened to see one of your ads and started investigating and just said, you know what? I want to join this coaching. And I did. I just said, "I really don't know very much about the property management business, and you have a background in coaching this. I'm just going to follow what he says, not question it, and just do it." [00:02:46] And then I was going to hold your feet to the fire because you promised it and committed that if I did, you would refund my money, and I began to do that and I still have so much more to go because in your coaching, the depth of that coaching that you give, I think I'm only maybe touching on 10% of it right now. And I'm looking forward to actually many years to come of getting deeper and deeper in implementing all the things that you provide in coaching because I've been coached before. I've been actually a coach myself for the sales side. And what we've always been taught is when you teach people, typically only 10% implement what you're teaching. And I said, man, "I don't want to be that 90% that doesn't. I want to be the 10% that does. And let the chips fall where they may and begin doing exactly what you said, trying to follow it as closely as I could." [00:03:44] And what do you know? It happens. We grow, we have probably at this point, we're either from the initial investment of the coaching-- I bet you we're-- I'm trying to think-- three, four times, maybe five times now the dollars that we're generating from the coaching. So it was a great investment. [00:04:04] Jason: You mean on a monthly basis? [00:04:06] On a monthly basis. [00:04:07] Yeah. So you've got way more residual income than what the program costs. So it's a no-brainer. And that's one of our initial goals with clients. Like we want to get them paid and make sure the program's double paid for within hopefully the first 30 to 60 days is the goal so that they can justify the expense and keep going. And then I guess you could say it's paying you now, to be part of the program. [00:04:27] Brannon: It's-- I've made money off of this coaching and that's what everybody wants. [00:04:32] Jason: That's what good, coaching or good marketing or good anything that you're going to pay for should give you an ROI, right? That means it's a good investment. So I'm glad that you're getting a good return on your investment. That's our goal. So you brought up something that I think it's interesting that you've worked with a lot of coaches. I've worked with a lot of coaches too. You know, I think one thing that's a little bit different from me than maybe other coaches in the industry, but there's a lot of coaches out there that don't have coaches. And they don't get coached themselves. And I think that's one of my competitive advantages, which is really simple is that I pay for really expensive coaching and masterminds and high ticket things to be involved in so that I can turn around and have value to give to my clients. [00:05:16] Like I just came back from a mastermind, I pay a lot of money to be in it, and I shared an idea today with the group that you thought was pretty cool. We were talking about not focusing on referrals instead of referring to them, as in asking for– what did I say? I'll let you say it... [00:05:32] Brannon: an introduction. And that is an extra benefit is not just taking the wisdom you already have. You're still pouring into yourself so that you have something to pour out. [00:05:45] Cause I think a lot of people stop getting things poured into them and the great people, great leaders, and great entrepreneurs need something poured into them so that they can pour out to others. We need that relationship to continue. And that's what I appreciate of your coaching. It's your coaching, but you're still getting coached and I'm getting the benefit of your expense of coaching and you're handing extra value to us. [00:06:14] Jason: Yeah. I'm not even going to say how much I spend on coaching a year right now, but it's a lot, it's a lot. I'm in two really high-ticket masterminds, but for me, I love it because I get to hang out with the best. Like I'm talking business owners that are doing millions and millions of dollars. I was hanging out with people that are doing millions a month in business. Some are hitting a million a month or more. And these are the kind of people I get to hang out with. And I love to be able to learn. It's fun for me. And having a program in which I get to share that stuff. That's just even more fun for me. Cause I love to share what I'm learning. That's just fun for me. So... [00:06:51] Brannon: As soon as you brought that up, I went out and shared that with my team, the ones that were here at the moment, and then I'm going to share that again on another meeting of not asking for the referral, but asking for the introduction. There's just many layers to that, of how good it is. [00:07:09] Jason: Yeah. Yeah. And we chatted about that on our group coaching call today. And for those that are not in our group, you're missing out. So Brannon what have you noticed since joining the program? I mean, You talked about some of the concerns you had coming in and some of the challenges you were dealing with, and you mentioned that you've made your money back, you've gotten some results. How does this compare or differ or relate to all the other coaching stuff that you've been involved in the past? [00:07:34] Brannon: Jason, I don't want you to get a big head, but it has been the best coaching I've had. And I talk about it all the time. I've been through several different coaches, both in the real estate side, and just some life coaches, and the value you bring is multiple layers and genuinely appreciate that, because that's what you teach us is bringing value to people and you do. And I would share this with anyone. This is not a sales pitch. This is true value. You bring on so many different layers and that's why I've shared in the past, and I've shared it even with my wife. I said, "I see myself. I've only scratched the surface of the value you've already brought. And I see this for many years to come that I plan to be a part of this. Cause it's not a cost, it's been an investment," and yes, we're talking about growing doors, but there's many other layers to the coaching of growing the business and how you do that from operations to people who you hire, what their duties are. This was exactly what I was looking for 'cause I did not have that knowledge. Though I've succeeded it at higher levels in a lot of ways in the real estate industry, these were the parts I didn't know. And I feel like I've still got so much more to learn. [00:09:01] Jason: I really appreciate that. That's-- that means a lot to me. I appreciate it. So for me, it's interesting to me because I've been in this business-- I founded it, and we had some tough times starting this business out and like me building a team I've gone through the entrepreneurial life cycle and journey that I coach clients on. And DoorGrow, our company has made so many changes, even in the last quarter. Like the slew of things that we get done that are on our list for quarterly planning is just amazing to me that we're able to accomplish. DoorGrow's not even the same company it was a year ago. Not even close. And some clients maybe worked with us in the past or knew about us in the past, or maybe we just did a website a long time ago. And DoorGrow is not even close to the same company. Some people are probably hearing you going "operations?" And like "this?" And like "coaching." And they're like, what? And it's funny because people, I think judge me and DoorGrow sometimes by who I was maybe five years ago or two years ago, or even a year ago. [00:10:06] And my personal development aggression, I guess you could say, or my drive and the level of the team members that I have and the drive of the team and how quickly we're able to make changes and implement is I mean, I'm obviously biased, but I think it's pretty amazing. So yeah. And I think people could give us a chance that haven't been with us for a while. Our new mastermind is just really awesome and I think people are really crushing it, which is really fun to see. [00:10:32] Brannon: And the connections you make in that coaching group. There's several people that I've made connections with that will be valuable for the future and just collaborating or, "Hey, I'm having this struggle. How have you handled it?" There's just, there's so much value and I agree it's even in-- what is it? Five months now I've been in the program it's changed and added more layers to it. But that's because of your growth. You didn't stay stagnant. You're still growing yourself and have something to pour out. [00:11:07] Jason: I'd feel guilty if I took even the majority of the credit, like my operator, Sarah, also my fiance, she's moved the needle significantly in this business, Adam, over fulfillment, Ashlee who's over a client success-- like we've got some amazing people on my team and they're moving most of the objectives forward that we have each quarter, and it's been just awesome to see. And that's part of the DoorGrow OS planning system that we've got and that sort of thing. We've got 90 members in the mastermind, so I appreciate that you brought up community cause that's a big focus of ours moving forward this quarter is we're really trying to focus on improving the community aspect. A lot of people joined for the content in DoorGrow Academy and the material that we have and the ideas, and then the people win because of the coaching. But people generally in a program will stay because of the community and the connection and the benefits of having that comradery, 'cause you know, being an entrepreneur can be a lonely journey without being connected to others, so we're really focused on that, improving that, in fact, we've got about 90 members in the mastermind, 90 businesses. We probably have on average about two people per business. So we've got probably about somewhere close to 200 people in the program I think that are actively involved. [00:12:17] We haven't really grown honestly for the last, maybe two, three months, which is weird, but we've been filtering a lot of people out. We've been really trying to make sure people are active and engaged and shaking the tree, so to speak and some of the people that weren't really engaged or active in our outreach and stuff have dropped off while we've been adding people, but we've cleaned that up. So like the program's really clean. And so I'm really excited about the community aspect because most of the people now are all pretty much engaged. And in at least on one of the calls and doing their check-ins and moving forward. So I think even though the group is still about the same size it's been for a little while, it's a lot mightier, so we're really excited about that. And now that it's cleaned out, now we're going to be adding, I think a lot of people that are going to be staying in the program a lot longer and it'll be, even we're going to be growing for sure. Yeah. So Brannon, what do you feel like are some of the most significant things that you've got out of it so far? Because a lot of people, they hear you probably saying, "Hey, DoorGrow's great. Coaching's great." And you mentioned you're making more money. What are some of the key things that really have stood out to you that you're like, "Hey, like this is different or this is interesting," or that you've really valued? [00:13:29] Brannon: I think a couple of things. There are multiple layers, so I can talk about this for a while, but the key things initially were: how to lead generate that didn't cost money. And sometimes you hear that and you think, "oh, this is just a sales pitch." It was very genuine, and it was very good. And I implemented that. So the only cost was my time and following through with what the coaching did and that added the doors very quickly. The second was helping design a pricing plan and how to put that together. I implemented one of the plans, the hybrid plan that you discuss and implemented that and began to sell that. And through selling it, I've shared this in our mastermind, how I sell that. And I'm seeing how it resonates with owners and just those two things alone, those two changes that we made alone made money. Those are just the two things initially. And then you offer other things that we're beginning to tap into and [00:14:40] there's so much there, the content, I can only absorb so much at the moment and I'm trying to fully implement those well, but that also gives me a path for several years to come things that I'll be able to dive deeper into different sections of what all you offer and implement those. So I see a path, but those two things alone were the big key movers, which you steer people to. Doing that lead generation first and then begin some pricing and other things. So those two are the big steps that made it an investment and made us money. [00:15:17] Jason: Yeah, if any of my competitors are listening and they want to figure out how to steal some of the magic from DoorGrow, we focus on two main things with clients and you can probably feel this. I don't think you've heard me mention this Brannon, but one of our big goals within the first 30 to 60 days is we want to make sure clients have really strong clarity on what the future holds for them, like what direction to go in. So we have our clarity assessments we take you through, so you know clearly which path. We have three different paths we take people down depending on which thing is the biggest problem in the business right now. And we focus on pain first. So we get them clarity on what they want and where the pain is and then results. So we want to get them as quickly and as effortlessly as possible to the results. So we're giving you the scripts, the language, the outreach, like all the different things to do. And you mentioned lead gen without spending money, and I know a lot of people are thinking "I'd rather just spend money. I'd rather just spend money because it would save me time," is what they think. What would you say to that? [00:16:18] Brannon: Yeah, boy, that's a cost. That's not an investment. This is a deeper level of long-term residual lead generation so that what you teach in the coaching pays dividends, not just now, but in the future, it continues to pay residual dividends and you haven't spent any money on it because the big thing in starting a property management company or starting any company is to generate revenue before expenses and it fit with the principles of that is, is generating that revenue before you have any hard costs, which help you get profitable better and faster, then you can have money to do other things to grow it even faster. [00:17:04] Jason: Yeah there's several things we focus on with clients. We want to decrease the expenses in the business. So we talk about how a lot of property managers, we mentioned this on today's call, right? Like a lot of property managers... it's not about what they need to do more of, or add more of in the business. It's about some of the things they need to eliminate that they are doing. And then we get into, the lead gen piece. A lot of people mistakenly think that they can generate more leads by doing advertising or paid advertising, but that actually are colder leads that take more time. So we've actually decreased your time investment into lead generation and we've zeroed out the costs. [00:17:43] Brannon: And usually it's a better quality person-- [00:17:45] Jason: --and it's an absolutely better quality lead, right? The conversion rate's way higher because we're focusing on warmer lead generation. And the other thing that I think is a secret is that you're creating market share while other property managers are fighting over the small amount of existing market share that exists. They're all in the red water. It's ugly and bloody, and there's a lot of scarcity. And I'm guessing you don't really feel much scarcity in growing your property management business? [00:18:11] Brannon: Not at all. It's doing so well, there's moments we have to just pause for a few minutes to absorb all the new clients coming on board so that we handle them, you know? It's not from lack of business coming in now from this lead gen source, it's making sure that we handle them effectively. And we talk about this in the coaching too, of how to handle the operations when all this business comes and how to handle it effectively and efficiently. [00:18:38] Jason: That's one of my favorite problems to do is make the growth become so uncomfortable and painful. And then we shift to solving that problem. Everybody wants that problem, but we want to create that problem for our clients that they're having so much growth that it's gotten uncomfortable and they have to start hiring and scaling their systems, so. And then yeah, pricing strategy. We talk about-- like you mentioned the hybrid pricing. Initially, I got the idea from Scott Brady. He's really sharp entrepreneur. And then we've put our own nuance and spin to it to make sure that people do it effectively. So it's psychologically really effective and that's been really really great for our clients that are starting to implement that. [00:19:16] So, yeah, you're right. There's a lot more in the program. I'm excited for you to get into some of the other stuff and get through it. Because I love seeing clients get all these different pieces dialed in because the speed at which the company moves forward is rapid. Now, a lot of people, a lot of property managers are already burnt out. They're already burnt out in their business. They're not enjoying it, which I would normally say, they're just doing it wrong, but that's, I think also one of the key things that we focus on at DoorGrow is not just building a business that just gets more crazy and more hectic and moves fast, that you enjoy less and less, which is typical. Most get to 200 to 400 doors and they're burnt out. They're micromanaging their team. They hate their day-to-day. [00:19:56] Brannon: You talk about both growing with quantity, but also growing with quality and creating a quality of life too. [00:20:05] Jason: Yeah, it's a big deal. So our primary focus is on, I call it the four reasons. I've done a previous podcast episode on that. For those listening, you can go back and listen to that. That's our primary goal is to move people towards the four reasons of more fulfillment, more freedom, more contribution, and more support. And as you've been building your business, it could get uglier and more painful, but we always try to make sure that the client understands that's the wrong way to do it. Like we can get you more support and make it more fun and you do less and less in the business. [00:20:36] Brannon: I like to learn and listen as it scales, how to scale it, and you share this in the coaching, how to scale it properly so that you don't get burnout. So I'm aware of that and want to make sure that happens not just for me, but y'all also share how to do that for your team too. The positions and the different times to hire and how to do that effectively. So it's not just for the owner, but it's how to create quality for everyone. [00:21:06] Jason: So you've seen some results in the program. What do you feel like your team's perspective of all this movement and change has been, and maybe even your spouse, like how is this kind of rippling out around you? Is this creating some pain and problems for people around you? Or how did they feel about all this? [00:21:24] Brannon: Jason, you'll appreciate that I use a lot of your quotes at home. But, when you're hearing good things, you want to share it. So I would say we're growing and I think the team, I know the team is all on board and they're excited about the growth, but as any good growth, there is stretching and you have to go through that stretching process that makes you better, but you've provided several good things that help the team that I'm using to help them get through the stretching with the growth that we're having. And we'll take this problem of growth, as we all remember the great recession and we were begging to be busy. I keep mindful of that, of being grateful that we are and would not take the other side of that of not being busy. I keep that in mind and I encourage the team, and they're encouraged by the growth too. They're very excited. Even our sales team notices it and they're like, "man, maybe I should be on that side of the business." They get really excited about it. [00:22:25] Jason: What's one thing you feel like you could share maybe with the audience, people that aren't in the program that might benefit them, that is maybe something you learned in the program or, maybe just a mindset shift or a takeaway or something that might be helpful to those that are listening? [00:22:41] Brannon: Boy. That's there's so many... [00:22:43] Jason: There are those that are struggling. What feedback or idea would you want to share with them? [00:22:49] Brannon: I think, you know, looking for referrals from agents that are working in the multi-family or property industry that are selling investments that has helped us quite a bit, but what's been beneficial in the coaching is you've given a great template of a script of how to do it that is genuine, that really flows well and is right in line with building high trust with clients and with agents. That's been the number one benefit of the coaching is not just that idea, but then even giving a practical script that really works. We've been in coaching. We've all been in different programs where we'll see a script that is just not realistic because that person doesn't do it. Your script is genuinely realistic, and it works. I tested it. It worked. I went line by line, even had the script in front of me as I'm going through it, and it really flowed genuine and real and generated referrals that day. [00:23:58] Jason: That was actually one of those moments. We have these moments as coaches where we feel like-- it's similar to as being a dad and seeing your kid get an award or do something, but one of those moments for me was when you sent me your call recording, and you just followed the script. Because I get a lot of call recordings from clients and they don't follow the script. They either don't feel confident doing it that way, or they say it different or they think they're trying to be cute or clever. And then I'm coaching them like, "stop saying 'um' and stop saying 'kinda' and 'maybe' like show confidence." you just followed the script, and it went so beautifully, and that was just really rewarding to me to be able to hear that and go " yes! It worked." And hear that result like real-time is really cool. [00:24:43] Brannon: I think I came into the coaching with the mindset and I thought of that 90-10 principle, and I said, "I'm going to be the 10%. Sink or swim, I'm going to be the 10% and I'm just going to follow it" and let it go where it went. But the beauty of it is, it went well. And it would for anyone that followed because we all know as we coach or teach, the ones that just say, "Hey, I'm going to be humble and I'm just going to do what you say, and let's see what happens." it generally works. [00:25:16] Jason: Yeah. Yeah. I'd love to tell clients like, "Hey, it's proven. If Brannon can do it, anybody else can do it too. Brannon's not any smarter or cooler than anybody else in our program, other than the fact that he does the work and he does what we tell them to do. And that makes you, I think, pretty smart and pretty cool. So I appreciate you, Brannon. So, um, Cool. I, appreciate you coming and taking some time out of your day to be here on the #DoorGrowShow and on the podcast. For those that are. On the fence, thinking about DoorGrow maybe they've heard about DoorGrow, a year ago or five years ago or in the past. What would you say to them now? You're on the other side of the paywall. You see what's going on in the community. What would you say? [00:25:57] Brannon: Well, You might not like this, but I think it's so good, sometimes I wouldn't want to tell anybody 'cause it's so good for people. [00:26:06] Jason: I've heard that. I've heard that quite a bit, which is really funny. Like "I want everyone to do it except my competition." [00:26:12] Brannon: That's it. [00:26:13] Jason: So which market are you in? [00:26:16] Brannon: We're in north Texas. [00:26:17] Jason: All right. So if you're in north Texas, Brannon says, do not do the DoorGrow thing. It's not going to work out for you probably, but everybody else should totally join this program. Does that sound accurate? [00:26:30] Brannon: North Texas property managers and there's plenty of business for all of us. [00:26:35] Jason: There is. That's something, I think that we're really big on the program. You're not in the red water feeling scarcity fighting with other property managers. There's 70% are self-managing, there's tons of available potential business out there, and you've been able to tap into that tap and you're getting plenty from it and yeah, there's plenty of business out there. Very cool. Brannon appreciate you being a client. Appreciate you taking time out. And anything you wanna say before we wrap this up? [00:27:03] Brannon: No, I think I've covered quite a bit myself. [00:27:05] Jason: All right. Awesome. Thanks, Brannon. All right. So for those that have been listening to this and you're curious or interested in DoorGrow, you can reach out to us. And if you want to test the waters a little bit and get familiar with this, because this may be the first time you've heard about us for some reason, join our Facebook group, go to doorgrowclub.com. Videos like this get pushed into the group. I do live streams multiple times a week now. I'm sharing concepts and ideas. My goal and job is to prove to you that we have some value to offer to you. Once you get beyond the paywall, there's even more. And so join the DoorGrowClub. You can go to doorgrowclub.com to get to our Facebook group. The other thing that I would recommend is just go to doorgrow.com. [00:27:52] If you're curious and you want to set up a call and talk to my sales team, they will listen to you. I have great people on the team. They really care about our vision of helping property managers. And so if you're struggling with some issues, some challenges, bring it up to them and talk with them and they will help you see if there's a path in which we can help you deal with those challenges, whether it's you're just not enjoying your day to day, you're struggling with your team and with operations, you're struggling to figure out how to add doors and grow your business, you hate your website, you don't like your brand. Like we can help solve these problems for you and they'll help you see how we can do that. And they'll also give you access to our seven frameworks training so you can see seven different growth frameworks and really shift your mindset out of the idea that you need cold leads and you need to do advertising and you need to spend a bunch of money on marketing. [00:28:41] We'll shift you out of that and help you see why that mindset actually has been hurting your growth and will benefit you and get you moving forward. And that's it for today. So until next time, everybody to our mutual growth. Reach out to DoorGrow, and we'll talk to you soon. Bye, everyone. [00:28:55] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow! [00:29:22] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. [00:29:43] Until next time, take what you learn and start DoorGrow Hacking your business and your life.
Instagram Post on Property Management: https://www.instagram.com/p/CdazZ87tByA/https://www.instagram.com/p/CdazZ87tByA/Portable Kettle on Amazon: https://www.amazon.com/Foldable-Electric-Collapsible-Silicone-Voltage%EF%BC%88600ml/dp/B07YRT7WJ9For more info, check us out at makeitraincapital.com.Welcome to Make It Rain: Multifamily Real Estate Investing for Millennials! We're Daisy and Luc, two millennials who love multifamily investing. With every episode, whether we're discussing a special topic or have on an amazing guest, the goal is to provide education and resources for anyone interested in investing in multifamily real estate, especially if you're a millennial. We're excited to chat with you about the what's, the why's, the how's, the who's. The best way to show support is to share it with anyone who might benefit from it and leave us an awesome review. Check out our website at makeitraincapital.com for more goodies. Take action on your financial future TODAY!
Wondering how you can invest in a niche asset class to reduce your competition? Brandon Schwab talks about how he is revolutionizing the Chicagoland Senior Living space and making it a very profitable investment. Brandon starts off by talking about his motivation to improve the Senior Living experience and the pitfalls he faced when starting out. He dives deep into the acquisition, rehab, and management of these Senior Living homes. He comments on the nuances of zoning, permitting, and appraisals on this asset class. on the volatility in the market and looks back on how the pandemic shaped what is happening today. Chris also gives an impactful outlook on Senior Housing as an investment including how the pandemic changed the industry and has uncovered the need for high quality Senior Housing providers! If you enjoyed listening to today's episode, please leave us a 5 star review and share us with a friend! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Brandon Schwab from Shepherd Premier Senior Living Link: Book Recommendation Link: Podcast Recommendation Link: SUCI Merch Store Sponsors: Prime Lending and Appeal.tax ----------------- Guest Questions 03:30 House Provider Tip: Be aware of the Chicago Heat Ordinance that is still applicable even as the weather heats up! 04:50 Intro to our guest, Brandon Schwab! 06:50 What is a high-level overview of Brandon's Senior Living Homes business? 08:17 How did Brandon come up with his business idea? 12:49 What would be the first steps to start investing in Assisted Living Homes? 17:33 What are some of the pitfalls when getting started? 21:30 What do the rehabs of these Assisted Living homes consist of? 25:28 What does the on-going management look like? 27:57 How are these properties appraised? 33:12 What is Brandon's outlook on the Assisted Living Homes industry? 35:55 What are the Zoning and Permitting requirements for these types of properties? 37:19 Does the Village or Town that the property is in impact the requirements? 38:15 What are the financing/funding options for these properties? Wrap Up Questions 40:57 How has Brandon overcome challenges in this niche space? 42:13 What is the one piece of advice for new investors looking to buy their first property in Chicago? 43:40 What do you do for fun? 44:18 Good book, podcast, or self-development activity that you would recommend? 45:59 Local Network Recommendation? 46:45 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.
This week I feature May's Rising Star in Franchising, Angela Healy, CEO at AvenueWest Corporate Housing and AvenueWest Franchising. As some of you may know, I began my franchise career in residential real estate franchising, converting large, local brokerages , to brands such as ERA and PRUDENTIAL. In those days, it was my job to convince high powered, independent real estate brokers that their world was changing and that while they could certainly dig in and ignore those changes, they would do better, to jump in with brands like ours, and protect themselves from the losses they would otherwise suffer, at the hands of RE/MAX, if they chose to remain independent. Well, since those days, the industry has morphed by umpteen orders of magnitude and the game continues to change. Now comes Angela Healy, with a game-changing twist of her own. With more than 25 years of industry experience, Angela Healy is the co-owner of AvenueWest, a Denver-based, managed Corporate Housing concept and of AvenueWest Global Franchise, LLC. Along with her husband Tim they have already awarded 15 franchises in major cities across the country, with a unique strategy for growth that ensures that Avenue West's core philosophy of investor-centric decision making is reflected throughout the company and its culture. AvenueWest has already grown from being a small, local, real estate investment brokerage, to a national, award-winning franchise organization, losing not one single office, through two years of Pandemic. Angela Healy our Rising Star for May, this week on Franchise Today.
Learn tons in today's episode as we navigate through multifamily and RV park investing with Greg Scully. How can you safely finance your deals using 401k, and is it possible to self-manage your properties? We've got more tips for managing and running a real estate company, so check this episode! Key Takeaways To Listen ForWays to get started investing in out-of-state propertiesWhy you should use a 401k for financing and how to get access to it before retirementBenefits of having a podcast and meetups in the real estate businessAdvantages of investing in RV parks and its potentialHow to transition from having a property manager to self-managingStrategies to divide responsibilities among business partnersResources Mentioned In This EpisodeTo join the first in-person event this coming October in Pigeon Forge, TN, register through this link.Free Apartment Syndication Due Diligence Checklist for Passive InvestorAbout Greg ScullyGreg is a former small business owner and retired after a 20-year career with Frito-Lay. He has been investing in real estate since 2016. His portfolio consists of an ownership interest in over 150 units in Eastern Tennessee with an additional 68 in Kansas with a combined market value of $15,000,000. Greg has also participated in a land development project in South Carolina, a multifamily property in Indiana, and multiple active flips in the Tri-Cities area. Greg and his partner Darren Light are hosts of the weekly podcast – The Real Wealth Solutions Podcast – and host a twice-monthly meet-up focusing on multifamily investing in Eastern Tennessee and the surrounding areas. Greg is an active member in several multifamily investing communities. Connect with GregWebsite: Real Wealth SolutionsFacebook: Real Wealth SolutionsYouTube: Real Wealth SolutionsPodcast: Real Wealth Solutions PodcastTo Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorsGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams.
What does it take to keep track of everything NAVAIR owns? On this episode of the AIRWaves podcast, NAVAIR Command Property Officer Brian Harkless shares how his team uses data to make informed decisions, drive down costs and deliver the right part to the right place in the right condition — on time, every time.
Big Time Q&A podcast. Y'all have had a lot of good questions for us lately and we answered them in a live Youtube vid. Our Hunt with DEAD END: IOWA Gobbler Down! Stand Up and SHOOT! 3 2 1!!! SPOT and STALK Hogs video! It just doesn't get any better than these two hunts: Tyler's KANSAS Giant 18 pt! K.C.'s Dramatic Biggest BUCK EVER! Be sure and subscribe on YOUTUBE so you can experience all the action on film! BUY ONE OF OUR NEW SHIRTS and HOODIES! www.theelementwild.com/shop The MAP SCOUT CHALLENGE powered by OnX THE MOST COMPREHENSIVE PUBLIC LAND WHITETAIL MAP SCOUTING CONTENT EVER CREATED ON YOUTUBE. -A ten part video series featuring Tyler Jones and K.C. Smith from The Element map scouting, putting eyes and feet on the deer country, then explaining their findings so that you can learn how to find, hunt, and arrow big bucks! K.C.'s KANSAS PUBLIC LAND BUCK FILM Watch the Video from Tyler's Illinois Public Land Giant! BIGGEST 8 POINT EVER!!! MAKE SURE YOU ARE SUBSCRIBED to our Youtube Channel. **GIANT TEXAS PUBLIC BUCK** The best map app there is. Find Access to YOUR public lands with OnX Maps. Know where you stand. #onxhunt Durable Customizable Arrows, Quality Components, Good People, Fast Shipping. Vector Custom Shop Comfort and Mobility Matter. Go With The Best of Both. CRUZR Tree Saddles Need Some Dependable Trail Cameras That Won't Break The Bank? Moultrie Trail Cameras Here are the bows we shoot: bowtecharchery.com To find out more on Texas Public Land opportunities, visit the Texas Parks and Wildlife website. TPWD Rock out with Tyler and the Tribe!
If you are a property management entrepreneur in the 400-600 door range, you likely experience the same issues as others in this category: company culture, strategic planning, and more. In this episode, property management growth expert, Jason Hull continues the stages of the Property Management Entrepreneurial Journey series with the 400-600 door category. You'll Learn… [01:10] Recap of the Other Property Management Entrepreneur Types [03:29] Defining the 400-600 Door Range [04:52] Making Sure You Have Help in the Business [06:42] How to Build Your Team and Processes [08:23] Optimizing Your Business: Strategic Planning [10:09] Transitioning from Transactional to Transformational Leadership [11:20] Recap of the Other Property Management Entrepreneur Types Tweetables “So by the time you get to this 400 to 600 door stage, you are either in a massive amount of pain, it's really painful, or you finally solve some of those issues.” “So I'm hoping if you're at this stage, business is not crazy. It's not crazy at work, and things are good. And a good book recommendation is It Doesn't Have to be Crazy at Work by Jason Fried.” “I believe most meetings are wasted time, but strategic planning, strategic meetings is one of the ways we really help scale and grow property management companies.” “If you don't have really clear strong culture, you probably don't have a really clear, good team.” Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive TalkRoute Referral Link Transcript [00:00:00] So by the time you get to this 400 to 600 door stage, you are either in a massive amount of pain, it's really painful, or you finally solve some of those issues. [00:00:10] All right. Welcome DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, increase revenue, help others, impact lives, and you're interested in growing in business and life, and you're open to doing things a bit differently then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships and residual income. [00:00:46] At DoorGrow, we are on a mission to transform property management businesses and the business owner. We want to transform the industry, eliminate the BS, build awareness, change the perception, expand the market and help the best property management entrepreneurs win. I'm your host, property management growth expert Jason Hull, the founder and CEO of DoorGrow. Now let's get into the show. [00:01:10] All right. So on previous episodes, we were doing this series of talking about all these different stages of property management entrepreneurs, and just to catch people up that have missed those, go back and watch those-- or listen. But what we talked about is we talked about pure startups, and then we talked about those that are kind of seekers and getting past that fantasy stage, and now they have a real business and seekers where they're kind of trying to figure stuff out, and these are all different door levels. [00:01:36] And then we talked about the solo preneur property managers, and then we talked about those stuck property managers on one of the recordings. And then we talked about the transitioning property management entrepreneur, has broken the 100 door barrier, and they're leading into that next sand trap, which by default, they'll get to within a year or two, usually in the 200 to 400 door category. And we talked about that. I call it the standard property management entrepreneurs. So we talked about that group and category. And then during that last recording, I talked about the side biz, property management entrepreneur, cause some artificially break, the 100 door barrier and they really just have a side business. Real estate is maybe their main thing. And they artificially are stealing resources from that business. [00:02:19] All right. That brings you to the present and you're missing a lot of good info so that you can understand where you're at in this journey and which things you should have tackled at these various stages. We're going to talk a little bit today about. That next level. This is those that break past that 200 to 400 door sand trap. Sometimes I call it the second sand trap, maybe the third sand trap. First one is usually where just getting started. That's like the hardest hurdle for a lot. And so that could be the first, the real first sand trap once you've launched your business though is about 50, 60 doors, I see a lot. I call it the solopreneur sand trap. [00:02:53] A lot of people get stuck there. They paint themselves into a corner. They end up trapped and that's really uncomfortable for them. So it's not like working. So the next sand trap is that 200 to 400 door stage. If you break the 100 door barrier in a healthy way within a year or two, you'll be there. And that 200 to 400 door stage I've talked about on the previous recording for the podcast. If you can break through that sand trap, and this is the team sand trap, and trying to figure out how to deal with the team, you're now going to be at this next level in the 400 to 600 door category. [00:03:29] Now, if you have achieved this level, you're at 400 to 600 doors, you may have done this through acquisition. Maybe you acquired another property management company. Maybe you got here just through grit and sheer will, and doing a lot of the sales yourself. At this stage, you probably have a pretty solid team because that 200 to 400 door stage is really painful trying to figure out your team. So now, you've got a good team. You probably like most of the people on it, and you probably aren't dealing with a ton of churn with the team. And probably at this stage, you've offloaded some of the growth oriented tasks. You may have a BDM at this stage most likely. If not, this is probably the next level for you. [00:04:15] So you might be a closer, and you want to focus on your area of genius and you have offloaded everything else. So you're still just the closer and you're closing a lot of deals, which is cool if you're good at that and you love that. If not, at this stage, I'm guessing by now you've already got some people helping you with the sales side, because you just probably wouldn't have gotten here, but if not, you need to get a BDM or at the very least a sales assistant. That you can maybe groom to be a BDM. But a sales assistant that you can offload at least the follow-up the appointment setting, stuff like that. So you need a setter basically while you act as closer. [00:04:52] So you've probably gotten out of the day-to-day operations at 400 to 600 doors. If you're still heavily involved in day-to-day operations, I'd be surprised, at this level. I don't see that very often. However, even at this level, you still are likely your own best employee, right? You still have your hands in quite a few things. You probably have many of your processes to find 'cause usually at that 200 to 400 door stage, that's like becomes a heavy focus because it becomes so painful. You need to get these processes defined and you realize there's a lack of consistency and you realize the team aren't doing things the way that you would want, and it becomes painful. So by the time you get to this 400 to 600 door stage, you are either in a massive amount of pain, it's really painful, or you finally solve some of those issues. [00:05:40] So I'm hoping if you're at this stage, business is not crazy. It's not crazy at work, and things are good. And a good book recommendation is It Doesn't Have to be Crazy at Work by Jason Fried. He's one of the founders, creators of Basecamp, CEO of Basecamp. Really, really great book. I got to hang out with Jason Fried years before he wrote that book. And he basically, during a 90 minute called taught me some of those principles and it was a game changer for my business in making the business more calm and more quiet and focusing on asynchronous communication, some other really cool ideas. So I highly recommend you check that out. One thing I'll disagree with Jason-- if you ever hear this is the idea of not having planning and not having meetings. I believe most meetings are wasted time, but strategic planning, strategic meetings is one of the ways we really help scale and grow property management companies. Game changer. And and that's using our system, DoorGrow OS, and I believe that that's more effective than EOS for those that are into rocket fuel and traction and all that kind of jazz. [00:06:42] All right. Let's talk about this 400 to 600 door company and your team. So you probably have a good team. You like them. And if not, you might have one or two people you don't like, but you probably like most of your team. You probably, at this point have an operator in the business. You have somebody that's dealing with the operational side of things, because most of you are visionaries and visionary entrepreneurs probably need that in order to make it to this level. You probably have some systems and mechanisms in place. It's most likely that you do, you have probably some sort of maintenance process and system in place. You have a system for communication with clients that's working out really well. You have a task management system internally for the business, maybe Asana or Monday or some sort of tool that hands out tasks. We use Basecamp at DoorGrow for the little one-off tasks. And then we use Process Street for processes. [00:07:38] So you may have something like AppFolio plus, which I heard good things about or Process Street or LeadSimple has a tool in their sales CRM for processes, checklists, that sort of thing. So you're going to have something for repeating processes that's connected to checking things off. Like it's a checklist, not just like an owner's manual that sits in the glove box of a car and no one looks at like standard operating procedures on a Google drive that nobody ever looks at. It's not going to be like that. Right. So you have some sort of process documentation checklist system as well. So that means you have a tactical task management system, you have a process system for repeatable processes, and you have some sort of communication system going with clients as well as probably several other systems. [00:08:23] So you've focused on building some systems out. Now at this stage, there's a lot of optimization. You need to optimize and figure out how to do that. And so you need to figure out what you need to do next. So you need to figure out what you need to do right now in order to control the future. You need to figure out: "how can I plan and create the future with my team?" So this is where you take your team and you need to shift them into strategic planning and build a strategic system and that would be DoorGrow OS is what I would recommend, of course. So, but you need to build a strategic system where you can get the entire team moving the business forward with you. [00:09:05] So the 200 to 400 door primary focus is really creating culture. If you don't have really clear strong culture, you probably don't have a really clear, good team and you're not going to get to the 400 to 600 door level. So you probably have a healthier level of culture. If not, this is going to be a focus. You need to develop cohesive culture. It needs to be documented. You need to develop cohesive, strategic planning for the business, and you need to develop an internal communication system for the team that doesn't involve one to everyone communication constantly like Slack or some of these tools where you're communicating one to an entire group, and everyone thinks you need to read everything. It's about building asynchronous communication, so really you need an effective culture, effective hiring system, effective planning system for strategic planning, strategic stuff, not the tactical day-to-day stuff like I just talked about, and you need an internal communication system, which goes along with that planning and a correct cadence of meetings can reduce a lot of communication and interruptions in business. So, this is how to get to the next level. [00:10:09] So, they have many of the processes defined and operations are running fairly smoothly in the business. Now you need to get all the team members helping you innovate in the business, not just getting stuff done that you tell them, which is transactional. Now you need to transfer and move towards transformational leadership. Transactional is I give you a task. You come back and say, you did it. I pay you a dollar, give you a task and you come back and do it, and that's the transaction. Transformational is I give you an outcome and a deadline, and then I support you in moving it forward, but you get to come up with how to get this done. And this is where you now start to have team members that think for themselves and innovate and move things forward. Instead of you having to micromanage everybody on your team, through processes and checklists. So if you're spending all your time trying to create tasks and trying to tell the team what to do and answer every question, you have a broken business that needs a strategic planning system, and that's going to free you up. [00:11:11] But in order to do that, you need really good culture, really good team members, and now you can implement a really good planning system and you need a really good operations person or an operator if that stuff isn't fun for you. If you don't love spreadsheets and checklists and process documentation and calendars and all that kind of stuff, you're probably more of a visionary entrepreneur. You're more on the sales and marketing side of the spectrum. And you're going to enjoy that a lot more. So hopefully this is helpful for those of you. If you would like some help, if you're at this level-- I love working property managers at this level. A lot property managers at this level, some of them start to get really painful. And they, if they make it to the next level, they've checked out. I want to make this easy for you, help you implement a strategic planning system in your business. We focus on this in our DoorGrow and Scale Mastermind. It's the "Scale" portion. Really awesome. I'd love to get you on a call with our team so we can figure out if we can help you grow your business and scale faster and get your team in better alignment. [00:12:05] And this alone can cut your staffing costs easily in half, sometimes by a third down to a third, by getting all these things really in healthy alignment and getting you in healthy alignment with your team. You're going to get way more output and that's the greatest expense in a business. So, if that's interesting to you check us out, join our Facebook group. If you're not yet ready to talk to us: doorgrowclub.com. You can go to doorgrowclub.com, join that, and we will love on you and hopefully eventually convince you to get on a call with us. Otherwise, reach out check us out at doorgrow.com and book a call. There's a little link at the top, and we'd love to talk with you and see if we can help you grow and scale your business until next time, everybody, to our mutual growth by everyone. [00:12:47] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay per lead content, social direct mail, and they still struggle to grow! [00:13:14] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. [00:13:35] Until next time, take what you learn and start DoorGrow Hacking your business and your life.
As an investor, how do I get the attention of the most successful brokers in the Chicagoland area? Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Noah Birk & Aaron Sklar of Kiser Group Link: Episode 23 of Straight Up Chicago Investor ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.
Have you ever had an experience that completely blew you away? That left you thinking, "it can't possibly be this good"? Where the service was just sublime?CEO, Dr. Jeffrey O, and St. Justine Hotels and Residences are aiming to provide this level of service. They are building modern luxury on the cornerstones of beauty and consistency. Dr. Jeffrey O is an author, educator, motivational speaker, as well as a self proclaimed service evangelist and he joins us to share his experience in building St. Justine Hotels and Residences, his insights on providing exceptional services, his writing, and so much more!In this episode you'll discover: Where Dr. Jeffrey finds inspiration for his writing Why consistency is so important How training staff well is essential The power of recognize people and their work For full show notes head to: https://themodernhotelier.com/episode/6The Modern Hotelier is presented by StayflexiProduced, edited, and published by Make More Media
'A Players' are difficult to find. Especially when it comes to the BDM role. In this episode, Matthew and Spencer welcome Evernest's Birmingham Business Development Manager, Hunter Terryn. Hunter walks through how he's managed to sign on so many doors while being a champion of the Evernest culture. You do not want to miss this episode! =================================== Have ideas for the show? Podcast guests? Email us at email@example.com Don't forget to leave us a review! Connect with Matt and Spencer at Evernest: Evernest.co Visit the Podcast Website: 300to3000.com Email the Show: firstname.lastname@example.org =================================== Do you own a property management company? Do you think it would be fun to help us get to 25,000 properties? We'd love to talk to you! Email us at email@example.com if you're interested. =================================== Production House: Flint Stone Media Copyright of Evernest 2022.
With rental market trends dramatically shifting in favour of landlords, having a good property manager in your corner is more important than ever. On this episode of The Smart Property Investment Show, host Phil Tarrant is joined by Thom Richards, the co-founder of the property management and investment platform Managed App, to talk about the major challenges that property managers are facing in today's market and why it's important to address these issues. Thom also enumerates the qualities of a good property manager, talks about the value of working with the right one, and gives insider tips on how to have a smooth-running property management system. The duo also touches on how technology can help real estate professionals be an ace in the property management space. If you like this episode, show your support by rating us or leaving a review on Apple Podcasts and by following Smart Property Investment on social media: Facebook, Twitter and LinkedIn. If you would like to get in touch with our team, email firstname.lastname@example.org for more insights, or hear your voice on the show by recording a question below.
Brian talks with Isaac Barrow about his journey from self-managing his family's rental properties to running a thriving property management company, while learning some great tips on growing your business as an owner & leader.
If you're juggling both being a W2 employee and a real estate investor, you do not want to skip today's episode. Joining us is Chris Freeman to show how to work full-time while investing at the same time, the importance of hiring a property manager, building a rental portfolio, and being a great team player in real estate. Make sure to listen in!Key Takeaways To Listen ForAdvice for balancing a W2 job and a real estate businessIssues that could arise from self-managing your propertiesStrategies for building a large rental portfolio within two decadesTips for finding real estate operators and partners to work withWays to show your value and contribution to your teamHow podcasting can help you learn new ideas for your business Resources Mentioned In This EpisodeBuildiumFree Apartment Syndication Due Diligence Checklist for Passive Investor About Chris FreemanChris is an experienced real estate investor with $38M in assets under management. His 20 years of real estate investment has focused exclusively on multifamily apartment buildings that can generate immediate cash flow. He has a background in high tech sales and sales leadership and through a consistent process over time, Chris has created enough passive income to replace his high-tech sales income. This success had inspired Chris to create High Tech Freedom Capital and help his peers achieve their own personal success. Connect with ChrisWebsite: High Tech FreedomLinkedin: Chris FreemanFacebook: Chris FreemanInstagram: @hightechfreedomTwitter: @PDXFreemanPodcast: High Tech FreedomTo Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorsGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams.
Instagram Post on Property Management: https://www.instagram.com/p/CdazZ87tByA/YouTube Video on Resting Coffee: https://www.youtube.com/watch?v=_Py8JOi3REgFor more info, check us out at makeitraincapital.com.Welcome to Make It Rain: Multifamily Real Estate Investing for Millennials! We're Daisy and Luc, two millennials who love multifamily investing. With every episode, whether we're discussing a special topic or have on an amazing guest, the goal is to provide education and resources for anyone interested in investing in multifamily real estate, especially if you're a millennial. We're excited to chat with you about the what's, the why's, the how's, the who's. The best way to show support is to share it with anyone who might benefit from it and leave us an awesome review. Check out our website at makeitraincapital.com for more goodies. Take action on your financial future TODAY!
Interested in sharpening your education to propel your Chicago Real Estate Investments? Jessica Sivels explains the variety of resources that Community Investment Corporation (CIC) is providing. Jessica provides a brief summary of CIC's extensive experience and explains how CIC can be a value add to investors given their knowledge of Chicago. She dives deep into CIC's vast educational resources and how landlords can benefit greatly by investing in their education. Fair housing, property management, mixed-use buildings, and lending are among the few topics discussed on this value-loaded episode! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Jessica Sivels, Community Investment Corporation (CIC) Link: Jessica Sivels - Director of Education & Community Engagement - Community Investment Corporation | LinkedIn Link: Jessica's Facebook Link: The One Thing (Book Recommendation) Sponsors: Kiser Group, and Appeal.tax ----------------- Guest Questions 02:44 House Provider Tip: Be aware of power outages during this Spring season! 05:10 Intro to our guest, Jessica Sivels! 06:54 Who is CIC and how does Jessica fit into the corporation? 08:07 When did CIC start offering its educational resources? 10:09 Why did Jessica get involved with CIC? 12:57 What is the spectrum of CIC's educational resources and what are the topics with the most need for education? 18:33 What are the opportunities coming up in the mixed-use space? 21:55 Is CIC going to start in-person classes? 29:05 Are there new CIC education topics or tools on the horizon? 34:35 What are some lending advantages that CIC offers? Wrap Up Questions 41:17 What is Jessica's competitive advantage? 41:52 One piece of advice for new investors. 42:50 What do you do for fun? 43:12 Good book, podcast, or self development activity that you would recommend? 43:35 Local Network Recommendation? 44:28 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.
Feeling anxious or finding yourself emotionally overwhelmed in workplace situations? Gwenn and Jeremy open up to Alyssa Najera, a mental health professional and co-host of Therapists Uncut Podcast on their experiences with therapy and how beneficial it can be for entrepreneurs. Alyssa shares insights on what to look for and when you should reach out for help. Find Alyssa Najera on LinkedIn Small Town Counseling on LinkedIn Learn More about Small Town Counseling Learn More about Alyssa Najera
When it comes to domestic violence, there are few people with as much access to what happens behind closed doors as a property manager.
A lot of property management entrepreneurs get stuck in this area between 200 and 400 doors. They've built the wrong team, and everything in the business feels like it's out of alignment. These are the standard property management entrepreneurs. Property management growth expert Jason Hull, the founder/CEO of DoorGrow, shares the next avatar in this series of episodes about the different types of property management entrepreneurs. You'll Learn… [01:15] The Next Avatar: The Standard Property Management Entrepreneur [02:07] Have You Built the Wrong Team? How to Build the Right One [05:10] Defining Your Role in the Business [06:12] The Issues in the 200-400 Door Range [09:50] Defining Your Company's Culture and Hiring [12:57] Inspiring vs. Controlling Your Team [14:29] The Side Business Property Management Entrepreneur Tweetables “You can't have a team that's your dream team, that's awesome, that makes you feel really well-supported if you are showing up incorrectly.” “There is nothing in the business that you have to be doing in the long run. There's nothing. You can offload any piece of the business.” “The only reason every team member should exist is because they are taking something off your plate.” “Tactical work just keeps businesses alive. Strategic is what really grows businesses.” Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive TalkRoute Referral Link Transcript [00:00:00] So they, at this stage, you probably also have all the same leaks in your business that the smaller companies do. You have leaks in your website, you have leaks in your branding, you have leaks in your reputation, you have leaks in your pricing, you have leaks and all these different areas of your business [00:00:13] All right. Welcome, DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing in business and in life, and you are open to doing things a bit differently then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals relationships, and residual income. [00:00:52] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host property management growth expert, Jason Hull the founder and CEO of DoorGrow. Now let's get into the show. [00:01:15] So we are going to continue our series this week, talking about the different avatars that we target here at DoorGrow. And so we're going to talk about a group that maybe listening to my intro were thinking, "you know, I don't know about that. manifesto, Jason. I don't know about having more freedom and that property management makes me feel good." You might be feeling really stressed out and you might have a big team helping you do this. And by big, I mean maybe you have like five to 10 people even. So we're going to talk about what I call the standard property management entrepreneur. And this is the property management entrepreneur that has built a team, but it's the wrong team. And so this is usually in the 200 to 400 door category. This is where I see-- I sometimes call this the second sand trap or the third sand trap-- this is where a lot of property management business owners get stuck. And the reason they're stuck is because they've built the wrong role for themselves, and they built the wrong team around the wrong role. So they're showing up as the wrong person. And then they built a business and a team around that wrong person to support the business. And so everybody's out of alignment. [00:02:25] You can't have a team that's your dream team, that's awesome, that makes you feel really well-supported if you are showing up incorrectly. And so usually, that's the problem is that the entrepreneur has these myths or these misconceptions or these beliefs that they're the business owner, so they should be doing X, Y, and Z. "I'm the business owner, so I have to be the one doing the sales and selling to people. "I'm the business owner, so I have to be the one doing accounting" or "I'm the business owner. I have to be running the meetings and handling the operations." Right. I just want to let you know, I'm letting you off the hook. I'm giving you permission, not that you need it from me, but you can give yourself permission. There is nothing in the business that you have to be doing in the long run. There's nothing. You can offload any piece of the business, and the ultimate goal of the business is to get those four reasons of fulfillment, freedom, contribution, and support. This is why we build a team. But you're probably, if you're at this stage, you're massively out of alignment with this. We talked about transitioning PM's and if you can break that a hundred door barrier, usually you're at this level within a year or two, you're in this 200 to 400 door area, and then you get stuck and it gets uncomfortable. [00:03:31] This is where a lot of people will fall prey to thinking they need to expand into a new market. Like we built it this big, maybe if we just pick another city nearby, we can start doing it there too. And that I call that premature expansion. It's a bad idea. Usually what ends up happening is they go into this new market and then their current market is starting to suffer and struggle. And then both are not doing well because you know, it starting two businesses are running two businesses and starting one while you're running another, usually means there's less focus. And focus is the most important currency related to growth. It's the most important. And so now, you're diluting your focus even more as an entrepreneur. [00:04:12] So, what we need to do is narrow your focus, even in your own business. The only reason every team member should exist is because they are taking something off your plate. But most business owners get to this point by building the team based on what the business needs. They're like "the business, we need more maintenance stuff, or we need more of this." instead of figuring out what does the business owner need? What do you need in order to move closer to the four reasons? Well, maybe you need an assistant, and you need to get rid of some of these things off your plate. Maybe you need a bookkeeping and accounting company because you don't really love doing the accounting and bookkeeping and you want it done well, and you need to offload that, right? So maybe you hate doing sales or that's uncomfortable, and lead-generation/ sales is really bad then probably in your business. And maybe you need to get a BDM or bring somebody in that's really good at that. Right? And so, If you focus on what does the business need most? And what does the entrepreneurial most? Then, you're going to bring in the right people. [00:05:10] Now, in order to do that, though, you have to be in proper alignment. You have to be doing the right things in the business. You have to know what your 'why' is, what your purpose is, what you really want out of the business. Of those four reasons, what does fulfillment and freedom and contribution and support look like for me? If I had the ultimate dream team, the ultimate business, how would I be spending my day so that you can move closer and closer to that. And then each team member you add should be helping you get closer to that. So you take everything that you do. You start shaving off and slicing off pieces to give to other people, and it should be the pieces you don't like doing. Not the pieces you don't have time to do. It should be the pieces you don't like to do and the pieces that are more tactical so that you can focus more on strategic leadership. Tactical work just keeps businesses alive. Strategic is what really grows businesses. There needs to be a general in the tent, leading the army. There needs to be a king, and the king needs to eat first, or their needs to be a queen and the queen needs to eat first. Otherwise, they'll have a starving kingdom. So let's talk about this standard property management entrepreneur at 200 to 400 doors. So this is the stage where they finally have a legit business they can live off of. It has the ability to spend money on marketing, so a lot of times they make the mistake of doing that. So they start trying out marketing channels and advertising channels and wasting a lot of money there. They're also wasting, probably too much money on their team because they don't really have team members that are giving three times the output that I'll see in healthy businesses and healthy teams that are in healthy alignment around a healthy business owner usually they'll have a third, right? They'll have a fraction of the output. The team members are frustrated. And so they're a business owner, they're likely doing still most of the sales at this stage. They have a team, but they struggle to build the team they truly want. They have consistent staffing challenges and turnover because team members really that are B players are the only ones they can attract because nobody wants to follow a starving king or starving queen. [00:07:10] They don't want to follow-- they're not inspired to have any other motivation other than to get money to follow a leader if that leader isn't really happy or enjoying their life, they're not going to be able to either. Because they're out of alignment with the four reasons. So they still feel like they're driving all the outcomes in the business as a visionary or as an entrepreneur at this stage, and they wish they could just get ahead and they're frustrated with their team. They have to answer every question, every approval. They don't have team members that can think and make decisions for themselves because this is how they've set up their business and set up the team. In the beginning, it's super tempting, right? You start bringing on people and they're asking you questions and you're like, "man, I'm so smart. It feels so good, but it wears thin pretty quick. And soon, you realize you have to drive every outcome. You have to hand out every task. You have to push everybody to do everything. And so it's not as effective. [00:08:00] So at this stage, you probably also have all the same leaks in your business that the smaller companies do. You have leaks in your website, you have leaks in your branding, you have leaks in your reputation, you have leaks in your pricing, you have leaks and all these different areas of your business, but you're great at selling. You've probably gotten to the point where you can close deals. You're getting business on. You're getting out there, making it happen, or you found some sort of unique prospecting method that's working for you. And so you've achieved a certain level of success but, the delivery side feels frustrating because it's heavily connected to you. They often have outdated and ineffective websites. They've wasted a bunch of money on various lead sources and advertising methods. And they're usually ready to find something new that actually works, but they're gun shy and they don't believe it. Like they're scared to sign up with DoorGrow 'cause they're like, "I haven't had good experiences with this marketing firm or with this firm or with this lead gen idea or whatever." So they're cautious and they're tired of wasting money and they're wasting way too much money on their team and on resources because they just don't have the alignment they should. [00:09:12] They don't have team members that really have complete ownership of pieces of the business and are moving it forward and innovating in it. They're the only person that innovates as a visionary, and they go to conferences, come back, and have a ton of ideas they throw at their team, and it's like pulling the pin on a grenade and lobbing it into the middle of the room. And then they're freaking out. They're like, "I've already got all my day-to-day work. How are we gonna implement this cool thing you heard about at NARPM?" You know? How does that benefit me? "I'm already stressed out." Right? So you don't really have buy-in from your team. Your team are not sold on you. They don't believe in you. They're not sold on the vision of the company because you've never really made a clear and usually the big glaring problem they can't see, the blind spot at this level is you don't have culture defined. There's no culture. Really, they don't really know or care what your company core values are. They don't know or care what your why is. And your purpose is and how this business fulfills you and gives you freedom and fulfillment. They don't know or care what the customers really want. They just don't want to deal with any more garbage or complaints. Right. And so, you have some systems in place, probably at this level, this is where you start thinking, "I need to document more processes and I need more systems and I need to micromanage my team more because I need to systematize this, so what you really need at this stage is you just need to be able to get clarity on yourself. Then build the right team around you so that you have the right culture. [00:10:39] And in hiring, I talk about the three fits: you need a really good cultural fit. You need really personality fit for each role, make sure you have a good fit there. And then you need skill fit. You need to make sure that they can do the work and they have the right skill. So, usually at this stage, they have so many leaks in the business they can't see. You built a whole business around a whole bunch of blind spots. You can't see the problem with your branding or your website, your reputation, or your team members, or your own role in the business. And so I love working with these businesses because there's so much we can do, and they have the team and the capacity to move the needle very quickly. We can move things quickly and make a lot of changes and get them a lot of results really fast, and they have the money to spend to do this stuff and to invest in the business. Usually at this stage, they tend to be a bit more experimental. They're willing to try new ideas because they've dealt with a lot of frustrations and they already know what things are not working. [00:11:35] So they're open-minded to the message that I share at DoorGrow that: Hey, you could grow your business without all this other stuff. You don't need SEO or pay-per-click or content marketing or social media marketing or pay-per-lead services. Like you can grow and scale your business really rapidly adding a hundred, 200, maybe even 300 doors in a year like one of our clients did in last year without spending a dime on advertising. And I know that sounds crazy to people listening, but reach out to us and we'll share with you our seven frameworks training on how you can do that. So, anyway, this is a lot of businesses I see at NARPM in the NARPM organization. When I go to speak at local chapters, I see a lot of businesses in this 200 to 400 door range. They're stuck. They have a team that's sort of engaged that they kind of like, and they like some of their team members and some not so much and they're lacking culture. And so if this is the stage you're at, you may want to join our mastermind program and get into our scale program, which we were focused on first, so that we can figure out, assess you, assess your team, start to offload the right pieces and get the right support in place. [00:12:40] And make sure we get clarity on the company core values and client-centric mission statement and your personal 'why,' and so that we can start to build the business around you and create the right culture. Once you have the culture clear, you'll be able to see clearly whether or not your team members are buying into it or not. They're either going to have to be controlled by you, or they're going to be inspired by you. Inspired makes you a lot more money, and it's a lot more profitable, right? So the phrase that I like to repeat and say that I heard a long time ago is whenever we fail to inspire, we always by default control. Whenever we fail to inspire we always control. [00:13:18] And so make sure your team members are inspired. And if the only thing they're really inspired by is getting paid and making money off you, then they are probably people that you have to control. And they probably are what I call hiders. You either have believers. They're inspired. They believe in you, they believe in the business. [00:13:36] They believe in the vision and treating clients the way that you want to treat them. And they're excited, and they're engaged and they give you their discretionary time. They're thinking about how to be a better team member when they're in the shower and when they're at home, or you have hiders. Hiders complain about you. They live for the weekend. They really honestly would rather do as little as possible, hide, and get paid as much as possible. And that's kind of the standard American employee or standard employee maybe anywhere. So I want to shift you away from having just hiders in your business to having believers. And you'll get three times the output from believers than you will from hiders three times. Imagine how that would impact your profitability if you got three times the work ethic and output from really good team members. Right. It would be awesome. How would that affect your profitability? How would that lower your operational costs and increase your ability to have output? [00:14:29] All right. So that's all we'll chat about today about that. There's another category that tends to kind of be connected to this. It might be related to others. I'll touch on that really brief... and that's the side business property manager, and maybe that'll be a future call, but these are the ones that are often brokers of a successful real estate office. Property management's a side note. They're almost like accidental property managers. Just like in this industry, a lot of you talk about accidental investors; they're accidental property managers. They often have artificially broken past that hundred door barrier, not by fixing common problems they would have had to, but by leveraging their existing real estate revenue, and team to move past it without solving the problem. And so they're leaving a lot of money on the table. They have a lot of inefficiencies everywhere. They likely secretly hate and avoid the ugly, neglected property management arm of their business. But eventually, they start to wake up and go, Hey, this could be profitable somehow. And maybe sometimes when the real estate market shifts, they're like, "well, real estate is not doing so great. I want to hedge against this. I want my property management business finally healthy. So eventually, they wake up to the fact that it can be more profitable and they also usually need help to rebrand at least the property management side of that business, so it doesn't harm the real estate side and they can be segregated and stand healthy on their own two feet. [00:15:47] Often, these property management businesses just happen, like from natural growth from the real estate business. Like they just have investor clients. They're like, "could you manage our property?" And they're like, "okay, sure. And so they're not really even charging what they should be. It's really kind of just a service they're adding, trying to add value to keep their existing investor clients happy. But unfortunately, this growth and all the doors that they have is not effective. I had one client come to me that had 500 or 600 doors and they were making $0. They had zero profit. And this is very common with these side business property management companies, the side biz PM's. So they don't know what they don't know. They're not really focused on that business. It's kind of grown as this ugly weed and it's kind of taking over and eating resources and it's not really profitable. So it really is like a cancerous tumor on the side of a healthy real estate company. And they either should just cut that tumor off and kill it, or they need to get that thing separated, segregated, and healthy so it can stand on its own two feet, and not just be a leech of resources on your real estate company. [00:16:54] So in order to do this, you have to shift property management, at least for a while to being the primary focus if you are the visionary. And a lot of times they want to just hand it off to somebody or give it to some operator person or some property manager or some director of property management, and they're not as big of a visionary, they're not as, you know, adaptable as the entrepreneur. And they would be able to move the needle so much faster if they just, at least for a quarter, maybe two quarters, maybe a year focused on that business and getting it really healthy. It could feed them for life. So that's all I'll say about that. So we covered standard property management entrepreneurs and the side business property manager entrepreneur, which sometimes can get up to that 200 to 400 door range as well. But they did it through kind of a back door or through a side door that wasn't as effective or efficient. And so they need to make all the changes that the early stages should have done or that others have done at earlier stages. So with that, we'll go ahead and end today. [00:17:54] Until next time to our mutual growth everybody. Check us out at doorgrow.com and I hope you have an awesome week. Bye, everyone. [00:18:02] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay-per-lead content, social direct mail, and they still struggle to grow! [00:18:29] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. [00:18:50] Until next time, take what you learn and start DoorGrow Hacking your business and your life.
What is independent hospitality? What does it mean to be an indie hotel? And what are the things you need to do to succeed as an independent hotelier?Andrew Benioff is the the Founder and Chairman of the Independent Lodging Congress, Founder and Chairman of the Philadelphia Real Estate Council, and an advisory board member of the Hotel of Tomorrow. He has unique cross-section of experience in hospitality, real estate, and investment banking and is a forward thinking voice in independent hospitality. He joins us to talk about what independent hospitality means and how you can succeed as an indie hotelier.In this episode you'll discover: What it means to be independent in hospitality The importance of understanding the community you're in How can you succeed as an independent hotelier Why some of the bigger luxury brands are losing their way Where true hospitality comes from What makes ILC events unique The Modern Hotelier is presented by StayflexiProduced, edited, and published by Make More Media
This is what I'm talking about
Check out this episode to discover more about asset management and its importance, as Iven Vian emphasizes the value of your team, focusing on your KPIs, and planning your property management. Keep an eye out for more superpower real estate entrepreneur discoveries!Key Takeaways To Listen ForWays to raise capital and scale up your multifamily investmentHow to balance real estate investing with a W2 jobThe importance of developing a broker relationship to leverage your multifamily portfolioHelpful insights on transforming your mindset from scarcity to abundanceWhy should you focus on asset management?Important KPIs to manage on a weekly & monthly basisResources Mentioned In This EpisodeThe Bottom Line - 10 Ways to Increase Cash Flow in an Apartment ComplexFree Apartment Syndication Due Diligence Checklist for Passive Investor About Iven Vian Iven Vian is results oriented, first as a retired Air Force Lieutenant Colonel and then in his 15 years of residential and commercial real estate investments. Attention to detail, an entrepreneurial spirit and a strong team ethic drive his management of his portfolio of over 3700 units and inspires his role as Anthem Capital's Lead Operations Manager.Iven is responsible for all business plan executions, deploying the latest property management technologies, and installing cutting-edge operational systems to stay ahead of the competition. In addition, his military training has taught Iven the genuine meaning of investment responsibility and due diligence in assessing new ventures.Connect with Iven Website: Anthem CapitalTo Connect With UsPlease visit our website: www.bonavestcapital.com and please click here, to leave a rating and review!SponsorsGrow Your Show, LLCThinking About Creating and Growing Your Own Podcast But Not Sure Where To Start?Visit GrowYourShow.com and Schedule a call with Adam A. Adams.
What's the reality of work with remote team members? How much can you save, or are you looking at spending more going remote? When it comes to competition and customer service, remote team members can often give your bottom line a boost, but sometimes that can come at a price. This episode of Property Management Mastermind features Todd Breen of Virtually Incredible. Not only does Todd have years of service mentoring agents and other property management team members, he has also found success in nearly every facet of business, largely due to remote team members. Learn more about Todd Breen and Virtually Incredible HERE! Learn more about RentWerx HERE!
Are you an entrepreneur who wants to scale your business without all the stress and hassle? In this episode, Steve Rozenberg discusses how to protect your portfolio and achieve long-term success, as well as how to find a good real estate partner who can help you grow. He also talks about if you're not able to scale your business, it's not a business. It's a hobby. So make sure you have the right people in place and focus on monetization, focus on product, and focus on sales. After that, you can worry about the rest of the business stuff! [00:01 - 06:41] If You Own One Rental Property, You Own a Business How Steve became a commercial real estate coach and influencer Steve learned that his safe and secure career was nowhere near as safe and secure as he thought How people don't understand the goal of owning an apartment complex To make money and have it sold to someone else for a higher value [06:42 - 15:05] Own Your Job, Not Your Business The keys to understanding your customer's buying process Start with monetization Systemize your business so that repetitive tasks are done perfectly and efficiently, and outsource any necessary tasks to help grow your business If you are the bottleneck of your business, work to remove yourself from that position so that your business can grow How freedom can be lackluster if it's not used to create purpose Tips to avoid feeling overwhelmed [13:42 - 20:59] Gain Your Freedom with Virtual Assistants Steve talks about how he and his team had to unite their definition of their goals Why you should create processes and procedures and outsource to virtual assistants The importance of communication and accountability between you and your VA's The benefits of outsourcing and why it will gain back your freedom [21:00 - 21:47] Closing Segment Reach out to Steve! Links Below Final Words Tweetable Quotes “So they think they want freedom… Let me just say I think that's **** because you can sell all of your *** tomorrow. Go live in your car, and you can have all the freedom you want. But what you won't have is the memory that you want. So we're not buying freedom. We're actually buying the memories that freedom is giving us.” - Steve Rozenberg “You can have the best product in the world. But if you don't understand how to not only get the money, but to get the right money from the right target of grading your clients… You need to understand that common thread of what is their problem and how does your product solve their problem.” - Steve Rozenberg ----------------------------------------------------------------------------- Connect with Steve Rozenberg LinkedIn: https://www.linkedin.com/in/steve-rozenberg-20593553 Facebook: https://www.facebook.com/steven.rozenberg Instagram: https://www.instagram.com/rozenbergsteve Youtube: https://www.youtube.com/channel/UCck4Ww77C6IoZQDPne9fHgQ Webiste: https://steverozenberg.com Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → email@example.com Want to read the full show notes of the episode? Check it out below: Steve Rozenberg 00:00 So they think they want freedom, right? You hear all the time, like, why do you want this? I want freedom to live my life? Well you know what? Because you could sell all of your *** tomorrow, and go live in your car and you can have all the freedom you want, right? But you know, what you won't have is you won't have the memory that you want. So we're not buying freedom, we're actually buying the memories that that freedom is giving us. Intro 00:23 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big. Sam Wilson 00:34 Steve Rosenberg is an international commercial airline pilot, who after the tragedies of 911, was forced to realize that his safe and secure career was nowhere near as safe and secure as he thought it would be. He chose commercial real estate, and he's been able since then, to control his own destiny. Steve, welcome to the show. Steve Rozenberg 00:51 Hey, thanks for having me, man. Appreciate it. Sam Wilson 00:52 Hey, the pleasure is mine. Three questions I ask every guest to come to the show in 90 seconds or less. Where did you start. Where are you now? And how did you get there? Steve Rozenberg 00:59 I started my real estate path on the day after two days after 911 When I got my furlough notice from an airline. And that was where I started. Where I am now is I am a coach and an influencer working with businesses and real estate people. I was showing them how to grow and scale their business to run without them. And how I got there is the last 20 years in between of a lot of fucking mistakes, a lot of hard work and a lot of listening to smarter people than myself to learn how to scale and grow a business. Sam Wilson 01:29 Got it, man, that's awesome. And maybe I miss interpreted this in your bio there. Do you actively invest in commercial real estate or no? Steve Rozenberg 01:37 I do. Yeah. Sam Wilson 01:37 Okay, cool. All right. I thought that was the case. It was like, wait, I think I added that part in your bio on my own ad lib. Hey, that's fantastic. You are currently still a pilot with United Airlines. And you fly around the world all the time. Steve Rozenberg 01:50 Yep. Yeah, I fly a Boeing 777. Actually, as we speak. Right now I'm in Maui, Hawaii, on a layover. And so I get to travel the world, I get to do what I want to do. I don't have to worry about money, I don't have to worry about anything except doing what I want to do when I want to do it. Because I built in scale the business that basically can take care of me for the rest of my life. Sam Wilson 02:09 What business have you built in scale that is your primary driver of revenue? Steve Rozenberg 02:14 So my initial business that I built, scaled, and eventually sold to venture capital was a property management company out of Texas. We were the fastest growing management company at the time sold that to venture capital did that whole thing with stock options and all that stuff. That was kind of the thing that got me accelerated to the next level of my life. So the next level of my life now is I show people how to do what I did, because I show... The way that we built our business was we built it on the fundamentals of what I've been trained for the past 30 years, which is an airline pilot. So understanding how systems structure procedures, checklists, to make a business truly run without you, so that you don't have to be involved. Steve Rozenberg 02:58 And when I say business, look, if you own one rental property, you own a business, you just may not know it, if you own an apartment, syndication, whatever it is, that is a business. And if you don't have a business plan, you don't have a structure, you don't have a model, you will fail, that business will run you into the ground, or you will die with that business on your back, and you will not have the life you wanted. Because you chose not to do the work on the forefront to be successful. So you know, fail to plan, plan to fail, all that stuff you hear but the reality is, is I have learned that you have got the devils in the details and how you do the little things is how you do everything, especially in business, I'm sure as you know. Sam Wilson 03:35 Absolutely. And we see so much of that in the you know, the mom and pop operators. Yeah, I mean, yeah. And that's quite honestly, where a lot of value is created. For those of us coming in with a more sophisticated approach. You go… Steve Rozenberg 03:50 Well, here's an example, right? You buy an apartment complex, what is that you're basically buying a business that is not being run correctly. And you feel that you can come in and run it correctly. It's the same, for all intents purposes, it's the same four walls in a roof. It's the business model running inside the four walls of the roof. Now you could take it make a lot of money, sell that same business to someone else, and they run it into the ground. So when you look at how people get so caught up in the actual strategy, meaning the house, the apartment, the syndication, whatever it is, but they don't realize they don't take the time to focus on building the business around it for a successful exit and a successful outcome. And that's where people fail. Sam Wilson 04:30 Where do you start with people when they come to you and say, Hey, Steve, I need your help. I don't even know where to start. What's the first thing you look at? Steve Rozenberg 04:38 First, I want to know what the hell did you do and how bad is the situation because people don't come for help because they want to help they come for help because they've totally screwed something up. And they go, I need you. I need you to save me is what they're saying. You know, people don't do what they want to do. They do what they have to do. So when they're at that position, they have to do something. So my first question to anybody is I want to know, where does this go? What is the goal of this? Steve Rozenberg 05:04 Now, here's the thing, a lot of times people don't understand the goal, a goal has to be something that is a date and time that has a result. For example, you may say, like, I want to sell this deal for, you know, 25x of what I bought it for, based on these derivatives of NOI cap rate everything else, right? Or if it's a business, it doesn't matter, I want to know, what does that look like to you? And can you clearly define that to me? Then what I do is everyone they work with, I will leave, have them stay out of the room. And I will ask each one of them, you tell me, what does this look like? What is the goal of what we're doing? Everybody has a different answer. So I'm like, this is your problem, you guys are all going in different directions. Nobody knows what you, the leader are trying to impart upon your team. So you have bad leadership, you know, there's no bad team members, there's bad leaders. And so if you look at people that are bad leaders, they don't, they're not leaders, they're managers. And people mistake that. And so my first question when I work with people is I want to know, Steve Rozenberg 06:03 There's three things to make a successful business three things. And if you're watching this, I would suggest you write this down. The first thing is monetization. So monetization is the sales and marketing, this is getting the frickin money, right? You can have the best product in the world. But if you don't understand how to not only get the money, but to get the right money from the right target of grading your clients A through D, firing the D's, keeping the C's and understanding the common thread between A's and B's, and I won't go into the detail, but understanding that common thread of what is their problem? And how does your product solve their problem? And that's the marketing message to the A's and B's because that's who you're going after. So that's monetization, then you got to figure out how do you get recurring revenue from your A's and B clients? And more importantly, they hang around like minded people? How do you create a referral system to get your A's and B's to refer people to you, because that brings down what's called your client acquisition costs. Right? So the first thing is monetization, and becoming that go to brand like that in the spa industry. You think of Jacuzzi in the tissue industry, you think of Kleenex, in your industry, who do they think of are you that go to brand. So that's the first thing. The second thing is the systematization and the admin of your business. So what I mean by that is, you know, a business is made up of repetition tasks done over and over again to perfection. And the definition of a business is a commercial, profitable enterprise that runs without you, and it has a sale date on it. So if you break down that sentence, commercial, profitable, enterprise is monetization. It running without you part is the systematization of your business, and having a sale date, I'll explain about that in a minute. So let's talk about the systematization of your business. First thing you have to do when you own a business is you've got to systemize it, then you automate it, and then you outsource it right now, that could be outsourcing to a company and employee or virtual assistant, whatever. If you have to be there involved in your business every day, well, you don't own a business, you own a job, right? And so you have to understand, are you the bottleneck, there's so many people, I'm sure as you do, so many people I've talked to that I work with, and I'm talking to them, and I tell them, You know what you are the problem. You are the reason this business is not growing, because you have ego and pride. And you think you're more important than the business. And the reality is, is when you're a leader and you're the leader of the business, you have to be selfless. And a lot of people who run a business syndications apartments, they want to pound their chest and say how proud they are. And it's their deal and get out of their way. That's ego. That's pride. That's the success inhibitor. So the last part of that sentence is the third thing you need, which is the scalability and scalability of your business. Meaning, what is the sale date of that business. And when I say that, if somebody cannot give me a specific date, like February 1 2023, I am selling this deal. If you can't do that, then that goes into Sunday calendar, which is the busiest day on the calendar because it never happens. So the reason you have to have that is you have to have a finite date and work everything backwards from that sale date. And the scalability side is could I sit in any role in your business in your operation structure, sit down at a desk, open up their systems manual, read the manual, pull out the checklist Operations Guide, do that job without ever having to talk to you? Because if not, how do I do this in multiple cities? So when we built our business, we scaled in multiple cities, and 60% of our company was outsourced to Mexico with virtual assistants. So we had to master and understand how do you outsource that role, so that we could grow exponentially by having a command center that we could go into any city and so I tell people could you go into Tulsa, Dallas, Denver and exactly imprint your business model without having to talk to anyone that's a far fetched I get, I get that's pie in the sky. But if you don't even have a semblance of that you are never going to grow to scale your company, which means it will run you into the ground. That's the reality. It's not a company, it's a job. Steve Rozenberg 10:06 And the problem a lot of times is many people go into real estate, right? So a lot of times, I'll ask people, you asked me the first question, and I'll ask people, why are you doing this? And they will go on maybe a five minute rants of them telling me what they don't want in life. I don't want to be told what to do. I don't want to have a nine to five. I don't want this. I don't want that. And I'll sit there. I'll listen. And when they're done, I'll you know, you don't. And they're like, yeah, like, Okay, my question was, what do you want? You just went through a whole story of what you don't want. That wasn't what I asked you. Right? Tell me what you want. And so what happens is, they'll tell me, I don't know. Like, the really, I'm like, think about this, what do you want? So they think they want freedom, right? You hear all the time? Like, why do you want this? I want freedom to live my life? Well, you don't let me just say, I think that's ***. Because you could sell all of your *** tomorrow, go live in your car, and you can have all the freedom you want, right? But you know, what you won't have is you won't have the memory that you want. So we're not buying freedom, we're actually buying the memories that that freedom is giving us. Let's say I buy multifamily. I'm making a *** of money. And I go, I have the freedom. But what am I going to do? Well, I want to go have dinner in Greece with my wife on the Mediterranean. Now, that's the memory I want to create. Right? The Freedom does, you could go do that. But you may not like the results, you know, maybe you're flying and coach, whatever. So I tell people do not focus on the freedom, you're cutting yourself shy of that focus on the memory because look, at the end of the day, I can't take back last week, if it was a good memory or a bad memory, all I can do is have it in my mind. So when I sold my business, yeah, I made a *** of money, seven figures. That was great. But it didn't change the memory of it. And there's nothing I could do. I can buy more cool memories, but there's nothing else I could do. I have all the freedom I want. And once you have that freedom, and I tell people this and it's like it's hard to explain it to people that don't have it. But I tell them, once you have that freedom, it's very lackluster. Having the freedom to do what you want. If you're aimlessly walking around doing nothing, there's no purpose. So create memories. So that was my long story. Sam Wilson 12:08 No, I love it. Man. That was a good sermon right there. That was good stuff. I love that because it is pointless. I mean, you know, there's no perpetual novelties. And so when you don't have any reason, it's like, it's why retirees work at Walmart, you know? Exactly. You know, come on, welcome to Walmart, because otherwise, I made a bunch of money, and I don't have to do anything. And now I'm bored to tears. So and that doesn't sound like any fun. Is it challenging for you when you sit down next to your co pilot? And I mean, you guys are operating in just completely different universes. You got a guy that's probably on a career track work in the airlines. That's all he knows. I mean, how do those conversations shake out in the cockpit? I'm just curious. Steve Rozenberg 12:49 Yeah, it's interesting for me, because, you know, I love flying. I love what I do. But I also know it's a job. And it can be taken away at any moment. And I'm aware of that, and I don't really give a ***, right. I love what I do. But I'm okay if that happens, because I'm fine. So when I hear people talking about, oh, the union and this now, don't get me wrong, as airline pilots, you can make anywhere between, you know, 250 to $500,000 a year living a good life, right? I mean, it's not small amount of money. So it's not like these guys are paupers. They're not unintelligent people. But you know, what they are, is their employees, their employees by nature. And so what happens is, it's hard for me any employee that is living out of fear of them taking away from you, it's always hard to have that conversation. Because as a business owner, I kind of understand sometimes when the airline makes a decision and does something from a business owner perspective. Now, as a union employee, I may be like, yeah, that's ***. But as an owner, I go kind of get it. So to answer your question, I do something that's a little bit different. And I'm a published author. So some people have actually read my books that know me from the airline, and some would just kind of awkward. But what's interesting is I do a lot of compartmentalizing in my life. And I'm not saying this is the right thing or wrong thing to do. But what I do is, if I am talking to someone about flying, I keep it in that box. If I'm talking to someone about real estate, I keep it in that box. And if I'm talking to someone about the gym, I keep that in that box. I don't cross over like people flying don't really give a *** about me working out and people working out really don't care about real estate. I don't cross those over. Because I don't think a lot of times when we're starting to get into this world of real estate, we want to shout from the rooftops. We want to tell everybody, not everybody cares, or even wants to see us do good, right? Because it's a self reflection on us. If all of a sudden if you're like, Hey, man, I'm killing it in real estate. And we started together. I'm gonna go like, "Aw man, I should have done that one. And I like I'm so lazy." Where if you fail, I go see, I told you, you shouldn't have done it. You should get a job like we have. So instead of fighting that fight of the perpetual employee, I just don't say anything. I listen to them and they talk Yep, whatever. And I just do my deal. That's just me. Sam Wilson 14:54 That's interesting. I mean, again it because it's a lot less stressful. I was just curious if those conversations ever run full or like... Steve Rozenberg 15:02 look, I'm sure like when you go see family, and they're like, What do you do again? How do you, you know, try to explain it like, oh, that you know, is it legal? Is it immoral? It? But you know, but you have to have that conversation. Otherwise, I just don't say anything. I'm like, "I just do real estate." Sam Wilson 15:16 Bingo. Yeah, I get that question all the time. Like, you run a like, even for my own siblings, you do a podcast? Yeah. What is that? Yeah. You do the daily real estate? That's interesting. Steve Rozenberg 15:27 And then move on. Yeah, like, whatever, like, whatever. Sam Wilson 15:29 I don't know what that means. But cool, man. So what are some of the things you know, after you get through that initial question? You know, drilling down and getting systems and manuals put together is a laborious task. Is there any way around it? Steve Rozenberg 15:44 No, there's really not, you know, you can template stuff. But the reality is, is, you know, when I first learned about this, we had a guy, I'll tell you, we had a guy come into our office, and we were just we had growing pains. And we had a lot of challenges in our company. And this guy came in and again, he said, tell us what you do. So we told him and had everyone leave the room and did one at a time. And we all had different answers. And he's like, this is your problem. So this guy for two years was in our business, structuring and systematizing, our company. Now, in the Property Management realm, typically every business has anywhere between 8 and 11 systems and processes and procedures that they function with all the time. Every business, it's about 18. In property management, it's about 19. So there's several more because you have almost three clients, you have a tenant, you have an owner, and you have a contractor, and there has to be processes for everybody. And look, nobody likes us in the management company. We're like the Trashman of the industry. They call you to fire you or yell at you. That's the only thing right? So all we can do is have processes and procedures. And that's why we were able to once we did this, we are able to outsource to virtual assistants very effectively, because we knew what we were doing. And we knew. Steve Rozenberg 16:54 So one of the things I do, I'll give you to answer your question. When I first started coaching people, one of the first things that I have them do and people watching is a great tool for you is I have them do a time study. It's a two week time study. And so there's three parts to this. So again, you want to see how much food you're eating, write down your food, you want to see where your money's going write down your ledger's, you want to see where your time is going to a time study. So what I have them do is from the time they wake up to the time they go to bed, we track every single minute of the day, I don't give a *** what they're doing email, social media driving, don't care. So they have to track it. Okay, that's the first part. Second part of this equation is they have to totalize up driving two and a half hours on the phone for our social media one hour, I don't care. That's not the reason I want them to do it. But we have to block it. The last part is they give me an executive summary, telling me how do you think your day went today? Tell me I think your day one. And after one week of you doing this, and every night, they have to send it to me. So they have to sit and I explained to them, the day you don't send it is the day you will never hear from me again. And yes, you've already paid. So I can't make you want this, you have to want this. I'm not here to be your friend. I'm here to make you successful. So you want this done, we're going to do this, but you're gonna do it on my terms. So that's just my deal. I've got too many people that want my time. And if they don't, then that's fine. So once they do this within week, number one, they will actually come back to me and be like, I know what I'm doing wrong. Week number two is fixing it. So the problem is if I said, Hey, Sam, stop doing all the stupid *** like, you don't need to this, you wouldn't be like, Oh, no, I don't do those things. But when you actually write it down, and it's coming from you, and you have to tell me how your day went, night and day difference. So then what we do is we take those things, and we say, okay, week number two is what are the low level low enjoyment tasks that you're doing that are minimum wage activities? Yep, we start basically separating the egg yolk and the egg white. And then we go, okay, these are things that we can look at outsourcing to virtual assistants. So now we need to create systems on how to do those things. And we start Systemising this for the VA's. And that is how we start systematizing their life in their business. Steve Rozenberg 19:01 I've got a personal virtual assistant, she actually probably just want to book this call. But she runs my life. She runs my calendar, she runs my flight she runs I mean, you name it, a lot of people think of when they think of a VA they think of just business, right? So wrong way to look at this is an extension of you, everything you do. And so the more that, you know, look, think of it this way, if you get a virtual assistant, right, and I had a company that actually placed them, we got so good at this. But think about this, if I get a VA I'm gaining back 40 hours of my life every single week. How much more productive Could you be? Because here's something that people don't realize, one five minute phone call, one call that is equal to 23 minutes of lost time. So you get 10 calls a day, that's 230 minutes on average of lost productivity when you go oh, man, I don't know what I did today. I was just putting out fires that's living a reactive life and live in a reactive business. Right. So what if you never had to take those calls and you could focus on high income activities. And now you go you know But I don't need to take these calls that's handled. So again, that's how we ran our company. And that's how we were able to scale, which is one of the reasons we got acquired is because they're like, how are you guys doing this. And so we show them what we did and how we did it. Now, we took my knowledge of being a pilot with systems and checklists and procedures. And we basically use that of leverage and scalability to grow our company, which it was the best way. So I kind of took you through a path there. But that's kind of the best way to do it. In my opinion, Sam Wilson 20:27 Steve, I've enjoyed this man, I love the energy you bring to it. It's your full on. And that speaks to me. So thanks for taking the time to come on today. How fun it is to be an airline pilot, why you love what you're doing, how you've protected and insulated your portfolio so that you really don't care if they fire you, but you get to go out and fly and have fun. And yet at the same time, your ability to scale and build systems and help people all around the world. I think it's absolutely fascinating. So thank you for doing that. If our listeners want to get in touch with you or learn more about you what is the best way to do that, Steve Rozenberg 20:59 so they can follow me up on my website, Steve rosenberg.com. They can follow me on all the social media channels, Instagram, @Rosenbergsteve, YouTube, Facebook, LinkedIn, all those but I'm very accessible. happy to chat, happy to answer questions. I do coaching. I do masterminds. I speak all over the world. People have a question, feel free to call me and I'll be happy to help Sam Wilson 21:20 Steve. Thanks again, man. Appreciate it. Thanks, brother. Take care. Sam Wilson 21:23 Hey, thanks for listening to the How to Scale Commercial Real Estate Podcast if you can do me a favor and subscribe and leave us a review on Apple podcast, Spotify, Google podcasts, whatever platform it is you use to listen, if you can do that for us. That would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening and thanks so much and hope to catch you on the next episode.
DescriptionPodcast Rodeo Show: Reviews and First Impressions of Your Podcast We gather amazing stories from leaders in Real Estate Investing. In each episode, our guests will tell you what they are doing that works, what they tried that failed, and best of all you'll learn actionable steps to take your real estate investing to the next level. "You can invest 10,000 hours and become an expert or learn from those who have already made that investment." - Jack We talk all things Real Estate Investing! Investors, Wholesaling, Wholesale, Fix and Flip, Flipping Houses, Mindset, Syndication, Multifamily, Rental Property, Property Management, Short-Term Rental, Rentals, Tenants, Land, Construction, Commercial Real Estate, Sales, BRRR, Landlord, Property Management, and more. What I Liked About This EpisodeI loved that this was an actionable step told through a story. You induced "theater of the mind," and I got to learn a little about you (you're married and live in Minnesota, and your wife is awesome). You also asked people to share the show and said your website. The audio was great. What I Thought Could Use Some Polishing I was confused about how you told people to listen to more episodes at the beginning. If they are on your website, they are already there. If they are listening on an app, then point out they can subscribe and listen to the back episodes. You still introduce the show as this may be someone's first time hearing the show so when you started, "Hey it's Jack and this is tip Tuesday" you might want to point out that "this is the Real Estate Investing with the REI Mastermind Network show and this tip Tuesday." Then you could point out that for more episodes go to the website or follow and subscribe. The last paragraph of the description made no sense at all, and is just keywords... ick. The Goal Of This ShowThis show aims to help you make the best episodes and grow your downloads. If you'd like a deeper dive here are some additional services https://podcast-rodeo-podcast.captivate.fm/reviews (Get Your Podcast Reviewed) https://www.profitfromyourpodcast.com/book (Profit From Your Podcast Book) Subscribe and Follow the Show https://podcast-rodeo-podcast.captivate.fm/listen (Listen to Podcast Rodeo Show: Reviews and First Impressions of Your Podcast) Mentioned in this episode: Only Thirteen Spots Let The next 13 people who order a "First Impression" review can name their own price! Go to www.podcastrodeoshow.com/review before this deal ends! https://podcast-rodeo-podcast.captivate.fm/reviews (Get Reviewed)
What if technology could tell you what house to doorknock, who to pick up the phone and call, when to make contact and why?
Can you imagine turning units without having to leave the office? In today's episode, we find out how a property management software can do just that. Joining Bob today is Kobi Bensimon, Founder of Showdigs – the only property management software with on-demand showing agents. It has completely disrupted the residential property management industry by providing a network of actively licensed real estate agents who are trained to handle showings, alongside an easy-to-use scheduling system for prospects.In this fascinating conversation, we find out how Showdigs works, the benefits of having a distributed workforce, managing more properties in a larger geographic area, and some key efficiency killers to look out for.Topics Covered:[2:53] Kobi Bensimon introduces himself and how he founded Showdigs.[6:14] How Showdigs works and how it helps reduce ‘windshield time'[11:12] The on-demand nature of the platform and the benefits of having a distributed workforce[13:10] Working with licensed active field agents through Showdigs[19:24] The interaction between a property management company and the agent[21:50] The importance of having trust in field agents through the platform[24:21] The typical workflow of making a listing[27:01] How to overcome inbox overwhelm[30:01] Handling the Move In Move Out (MIMO) process[34:16] Showdigs' process for documentation[36:13] How an agent looking for a side gig can join Showdigs [39:13] The importance of metrics and KPIs – and the ones to look out for[46:47] Kobi's story of emigrating from Israel to the US, and how he built his first property management tool, ActiveBuilding, after studying at MIT.Connect with Kobi Bensimon, Founder, Showdigs and ActiveBuildinghttps://www.linkedin.com/in/kbensimon/Find out more about Showdigshttps://www.showdigs.com/ Connect with Bob Prestonhttps://www.ncpropertygroup.com/This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TunedIn, iHeart Radio and YouTube.
Looking for a user-friendly, innovative property management software? Today's guest Kerri Davis dives deep into how her software Fortress can help you take your investment management to the next level. Kerri jumps right in by explaining the shortcomings of other management softwares and how Fortress addresses those concerns. She talks about when it makes sense for an investor to transition to management software and describes the typical workflow within the Fortress interface. Kerri proudly elaborates on the innovative features of her platform, its user-friendliness, and transparency to help you accurately gauge the performance of your properties! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Kerri Davis, Fortress Technology Solutions Link: Kerri Davis' LinkedIn Link: Start With Why (Book Recommendation) Link: Sabrina Wottreng (Network Recommendation) Sponsors: Kiser Group, and ClickInvest ----------------- Guest Questions 03:57 House Provider Tip: Consider artificial grass, mulch, or rocks instead of natural grass to reduce maintenance on your properties! 06:29 Intro to our guest, Kerri Davis! 07:45 How did Kerri get into real estate? 08:45 What did Kerri's first property management role involve? 10:06 What were the pitfalls of older property management softwares and how are new softwares addressing those concerns? 13:42 What were some of the main pain points that led Kerri to develop her software, Fortress PropTech? 16:40 At what point or unit count does it make sense for a landlord to switch over to a property management software? 21:57 Kerri describes the typical workflow when using her software. 25:50 How does a platform like Fortress help build and strengthen the relationship between landlords and tenants? 28:09 What does the future development of Fortress look like? 32:17 Can a CRM be integrated into Fortress? 34:08 What pricing can users expect for the software and what factors impact pricing? Wrap Up Questions 36:17 What is Kerri's and Fortress' competitive advantage? 37:35 One piece of advice for new investors. 38:39 What do you do for fun? 39:18 Good book, podcast, or self development activity that you would recommend? 40:13 Local Network Recommendation? 40:55 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.
Sue and Craig are owners of Richey Property Management, a residential property management firm in the Northern Virginia area which is just outside of Washington DC. Sue is the Broker of the company and has been in the real estate industry since 1997 and Craig is the COO. They both started in the real estate business selling homes and were successful Realtors. When they started buying investment properties in the early 2000s, they knew they were hooked and over the years have bought and sold many rental properties. In 2006, they started Richey Property Management and as the market was headed for a downturn, the property management business began to grow as people weren't buying and selling but still needed a place to live so people were still renting. Since then they have grown the property management business to today currently managing around 700 single-family homes. They are active investors as well and own several investment properties of their own. In the business, Sue's focus is on sales and marketing while Craig really manages many of the financial aspects and legal and compliance. They have built a great team over the years, and together they work hard to create the best experience possible for their clients. Both Sue and Craig are passionate about travel and have traveled all over the world. They have three children who are grown now and their son also works with them in the business. Curtis's motto is that what you learn today and how you position yourself will determine your future financial well-being 5, 10, 20 years from today. To learn more about how to manage your wealth in a practical way, visit www.practicalwealthadvisors.com Links and Resources from this Episode www.practicalwealthadvisors.com Email Curtis for a free report - firstname.lastname@example.org Call his office - 610-622-3121 Connect with Sue and Craig Richey https://www.richeypm.com/ https://www.youtube.com/user/RicheyPropertyMgt Special Listener Gift Schedule a 15-Minute Call with Curtis Free Ebook Financial Planning Has Failed Show Notes Who the guests for today are and how they got started in property and investment management How Sue and Craig Richey determine success The thought process as they run their business Mistakes that people make when managing their own properties When is the right time to get the services of a professional Transferring risks using insurance and trusts The three pillars of protection What Sue and Craig are excited about for the next two to three years Where and how to reach out and get in contact with Sue and Craig Review, Subscribe and Share If you like what you hear please leave a review by clicking here Make sure you're subscribed to the podcast so you get the latest episodes. Click here to subscribe with Apple Podcasts Click here to subscribe with Spotify Click here to subscribe with Stitcher Click here to subscribe with RSS
Michael Girdley (@Girdley), and Mills Snell (@thegeneralmills) are joined by Mike Harrington (@MHarringtonNC) to talk about vacation rental management businesses, the industry, 2 Deals, the best criteria to choose a market, operation specifics, and more.-----Thanks to our sponsor!Fleetio's suite of cloud-and mobile-based fleet management solutions enables fleets of all sizes to automate fleet operations and manage asset lifecycles. Users can instantly access and update data regarding planned and unplanned maintenance, fuel, inspections, parts, and much more. It also improves communication and streamlines issue resolution with its mobile app, email notifications, and reminders. Fleetio integrates with telematics solutions for automated odometer updates and DTC handling, and pairs with fuel cards to automatically log transaction data. Fully optimize your fleet by giving fleet managers, drivers, technicians, and other personnel access to the tools and information they need anytime, anywhere.-----* Do you love Acquanon and want to see our smiling faces? Subscribe to our Youtube channel.* Do you enjoy our content? Rate our show!* Follow us on Twitter @acquanon Learnings about small business acquisitions and operations.* Great Lakes Region VR Company* Colorado Ski-Market VR Company -----Show Notes:(00:00) - Intro(00:37) - Fleetio(01:55) - Mike's background, business & vacation rental management(06:59) - Deal 1: 14 y/o Colorado Ski-country vacation rental management (11:17) - Does the reported revenue makes sense? They report 49 employees: what can you tell us about employees in the VR industry? Labor availability, regulations, geographic limitations(17:21) - What's the correlation between business size and participative ownership?(19:41) - What's been your experience when acquiring a new business and transitioning from the previous owner in the industry?(21:35) - What's the implication of short-term rentals on revenue?(25:02) - Do you place your company listings on booking platforms?(28:08) - Deal 2: VR Management Firm(36:18) - Could you add a complementary business?(38:35) - What are the threats that you evaluate in this business?(41:20) - Why are fees in vacation rental companies higher? What is the differential service provided?(47:03) How would you go about Deal 2?-----Additional episodes you might enjoy:#83 Can you grow a business in a shrinking market? Featuring baller @WilsonCompanies as a special guest!#82 How Great Operators Win! How PE does it like pros - with Mark Brooks
Mike Scanlon walks us through the numbers, rationale, and challenges of a recent househack in Elgin. Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Mike Scanlon from The Axon Group (EXP Realty) ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.
How can you provide a better guest experience? What does it take to be an award winning concierge? And what is groove theory??Sarah Dandashy joins the show to share her expertise. Sarah was an award winning concierge, but now as a content creator travel expert and hospitality, author and consultant. Sarah has worked in some of the best hotels in the country, including The Peninsula, Four Seasons and Fairmont hotels and was the head concierge at London west Hollywood.Sarah has grown Ask a Concierge from a vlog to a multimedia platform with over 200,000 followers. She also has her own podcast called Say Yes To Travel and released her first book this past November called "Hospitality From Within".In this episode you'll discover: How to provide a better guest experience How an award winning concierge approaches tough requests Why serving in the hospitality industry can be such a joy Sarah's advice for those getting started in hospitality For full show notes head to: https://themodernhotelier.com/episode/4The Modern Hotelier is presented by StayflexiProduced, edited, and published by Make More Media
Today's guest is Corina Eufinger, a 4th generational Multi-family Investor who specializes in small multi-family. She is a realtor with Iron Edge Realty helping people buy and sell real estate investments to meet their investing goals. She is also the owner of Brio Properties offering project management, rehab oversight, real estate consulting, and other real estate services. She also hosts Landlord Chick Podcast.Episode Spotlights- Corina shares insightful generational real estate knowledge- Necessity of having up-to-date interiors- Communicating effectively and in a timely manner - Doing things that are morally right in tough timesBook Recommendations- Millionaire Real Estate Investor by Gary Keller - The One Thing by Gary Keller- Cashflow Quadrant by Robert KiyosakiConnect with CorinaWebsite: http://briopropertieswi.com/ Linkedin: https://www.linkedin.com/in/corina-eufinger-aa138752/Grab your freebie - Tips for Multifamily Investing at www.ushacapital.comFound this episode insightful? Show us some love by spreading the word on social media or rating and reviewing the show here - https://podcasts.apple.com/us/podcast/multifamily-ap360/id1522097213Follow Rama on socials!LinkedIn | Meta | Twitter | InstagramConnect to Rama KrishnaE-mail: email@example.comWebsite: www.ushacapital.com
After pure startups and solopreneurs comes another type of property management entrepreneur with its own unique challenges: the transitioning property management entrepreneur. Property management growth expert Jason Hull shares his insight on the issues and problems that PM entrepreneurs face in the 100-200 door range. You'll Learn… [01:20] The Next Avatar: the Transitioning PM Entrepreneur [03:35] Learning to Trust Others and Building Your Team [07:41] Moving You Toward the Four Reasons for Starting a Business [09:13] Offloading the Tasks You Don't Like [09:41] Are You in This Stage? Keep Going!! Tweetables “If you add teammates and you're adding more expense to the business, you have to make sure you're doing it with the right people for the right things that the business needs most.” “There is nothing in the business that you have to do in the long run. If there's any piece you don't enjoy, you can get somebody else to do it.” “You can learn endlessly, but you need to be taking the right actions as quickly as possible.” “So if you're in that stage and it's uncomfortable right now, just keep going. Double down. You will graduate.” Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive TalkRoute Referral Link Transcript [00:00:00] So property management entrepreneurs, they don't stay at this level of this transitioning property management entrepreneur in the stage between zero to 200 doors. They don't stay there for very long. They either make it to the next level or they contract from struggle and attrition. [00:00:16] All right. Welcome DoorGrow Hackers to the #DoorGrowShow. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you're interested in growing in your business and in life and you are open to doing things a bit differently, then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships, and residual income. [00:00:57] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host, property management growth expert, Jason Hull, the founder and CEO of DoorGrow. [00:01:20] Now let's get into the show. So in today's episode, we're going to continue on this sort of train of thought or the series of talking about the different avatars that we target here at DoorGrow, and basically these different stages of progression in the entrepreneurial journey of property managers. So if you've missed some of the previous episodes in which we've talked about solo, preneurs, pure startups, those that are stuck, property managers transitioning is what we're talking about today. So go back and listen to previous episodes. We talked on previous episodes about pure startups and then graduating into that solopreneur stage of, you know, going from seeker to solopreneur. [00:02:04] And the next is transitioning. I call them transitioning property management entrepreneurs because they don't stay in the stage very long. So once you break that hundred door barrier, if you do it in a healthy way, you have basically graduated from that previous sort of sand trap, and you're going to graduate to the next sand trap. [00:02:27] And we'll talk about that on another call or another recording, that will be the kind of the standard property management entrepreneur, where they have a legit business at 200 to 400 doors. So you break the hundred door barrier usually within a year or two, if you do it in a healthy way, breaking that a hundred door barrier, within a year or two, you're going to be in that next sort of sand trap, typically, that next sort of challenge at 200 to 400 doors, and that's one of the most painful spots to be in. And we'll talk about that in a future episode. So let's talk a little bit about this transition. So say you break a hundred doors. You know now how to add doors. [00:03:08] Most likely you've done the work. You've did something that you can repeat. Finally, you're figuring out how to get past that first sand trap. You're figuring out how to grow and add doors. And so you've now graduated from being just at that solo preneurs sort of status. You've likely hired your first team member or two, and you're focused maybe a little bit on building processes and creating a little leverage for yourself. Maybe through assistance or other things. Going from seeker to that stage requires giving up control and trusting others, since that's really difficult for a lot of people. You probably also believe that you still are irreplaceable. You have this irreplaceable position and you probably still are lying a little bit to yourself, internally saying this sort of, kind of idea that "no one else can do what I do better than me. Nobody else could do it. It's like it's impossible. I'm so great. No one else could ever be as good as me." [00:04:07] But you have now started to believe that at least there's other people out there that you can get and you probably are focused on some of the cheapest people. You could get, probably hiring VAs, maybe in Mexico or the Philippines. And you've started to like, let go of a little bit of that control because you're hitting a wall. Like you're hitting a limit in your capacity to focus and spend time on the business and you're maxing out. So you need some additional help and support. But if you could do it without them, you probably would 'cause you want to hold it all to yourself. Right? Because nobody's going to do it as well as you would do it because you're so great. At this stage, though, they're not good at hiring. They don't really understand how to hire. They don't understand how to build the right team. They have lots of failures when it comes to team and staffing and they sometimes wonder if they should just go back to doing it all back on their own. So you've probably thought that if you're at this stage, you've probably thought, "maybe I should just do this myself." [00:05:09] It felt easier. I hear this all the time: "if I have to tell them to do it, I might as well just do it myself." This is what this kind of category of person says, you know, "I might as well just do it myself, so it's a waste of my time." but they believe there might be this idea, they have the seed thought that there's this idea that they could have leveraged somehow. It just, they haven't experienced it fully yet. So they don't quite believe it. So property management entrepreneurs, they don't stay at this level of this transitioning property management entrepreneur in the stage between zero to 200 doors. They don't stay there for very long. They either make it to the next level or they contract from struggle and attrition. [00:05:52] Now, occasionally. You'll see somebody get to just, they might just break past that 200 door barrier and they figure out how to do it basically almost by themselves. They've got like maybe one assistant they've really gotten picky about their clients. They fired the bad stuff. They've got some processes kind of defined, and they figured out how they can almost stay a solopreneur with one boots on the ground part-time assistant and just have that. And you'll see people that have these businesses where they can do maybe 200 doors or so. It's rare to see them maybe break 300, but they'll be able to have a little portfolio like this and they'll be able to manage it. They're the one interacting almost entirely with most of the clients directly. They're still probably doing a lot of maintenance coordination stuff, but they've started to give up some pieces of the business to maybe one part-time or maybe full-time team member. And they really are pretty comfortable usually at that stage, some of them. Now, if you are like me, then you want to continue growing and you're going to get to that next level. [00:07:02] So usually they'd push through this. Once they've started into the transition, they want to fully complete that transition and they move into that next stage where they actually have a whole team. So really that transitioning property management entrepreneur at this stage, really your main goal right now is to learn how to hire, how to build a team, how to get the right people, but usually they never really learned that fully. And that's the challenge they deal with. As they build a team, they usually do it through a lot of trial and error, and then they have an okay team, but they build the wrong team-- the wrong team around themselves. And we'll talk about that in a future episode. [00:07:41] So what we do with clients early on, when they start to hire, before they hire, we have them do a time study. We figure out which things energize them and which things drain them, which things are tactical versus strategic. And then we have them offload and build out job descriptions and offload the things that are tactical and energetic drains, minus signs, so they can focus more on the strategic and the plus signs energetically. Right? So then we're getting on a team member that is taking the negatives off their plate that drain them that are not fun. So we can move them closer and closer with each new team member towards the four reasons, which is another episode we did previously. [00:08:21] The four reasons for having a business or the main goal to build a business in building a business is to have it be a vehicle for these four reasons, which is fulfillment, freedom, contribution, and support. And that means in order to have that, you have to have a team, and you have to have good team members. If you add teammates and you're adding more expense to the business, you have to make sure you're doing it with the right people, for the right things that the business needs most. And at the very early stages, it's really what you need most. If each team member you add is not moving you towards having greater fulfillment and greater freedom, greater contribution, and greater support. Then you are adding people incorrectly, or you're not adding the right people, or you're holding onto the wrong things. And a lot of times at the stage, you still probably believe you have to do certain things in the business. So if this is you right now, I'm letting you know there is nothing in the business that you have to do in the long run. [00:09:22] If there's any piece you don't enjoy, you can get somebody else to do it. And then will probably-- if you hire the right person-- they will be better at it than you, especially if it's something you don't enjoy and they do. They will be much better at that. And so if you do hiring right, you will build the ultimate team around you. [00:09:41] So that's kind of our topic for today is transitioning property managers. They're in this transitory sort of stage of 100 to 200 doors. I don't see very many people stay in that state for very long. It's usually maybe a year or two max, and then they're usually out of it. So if you're in that stage and it's uncomfortable right now, just keep going. Double down. You will graduate. And that graduation is building a team around you so that you are maybe in that 200 to 400 door category. And you've got maybe about five team members or more so that you can really start to hopefully graduate in fully into those four reasons. If you're like most you've done it wrong. And so we will talk about that on the next episode. [00:10:30] So until next time, everybody to our mutual growth, and if you are looking to add doors or you're looking to figure out hiring or scale operations, and you want to collapse time dramatically, the number one thing that you can do is invest in yourself and invest in knowledge. That's going to help you collapse time. If you are trying to do it all yourself and think you're the smartest person in the room. And you're trying to read books and watch videos and just learn, learn, learn, learn, learn, you can learn endlessly, but you need to be taking the right actions as quick as possible. And my goal would be as coach to help you collapse time on that. [00:11:08] So that's of interest to you. Reach out to DoorGrow we would love to help you out and support you. Our clients are getting phenomenal results really quickly, and it speeds up time dramatically and we've added some new trainings and some new material. We're constantly developing new stuff. So, and with that being said, we will talk to you in our next step. [00:11:27] So bye everyone. [00:11:28] You just listened to the #DoorGrowShow. We are building a community of the savviest property management entrepreneurs on the planet in the DoorGrowClub. Join your fellow DoorGrow Hackers at doorgrowclub.com. Listen, everyone is doing the same stuff. SEO, PPC, pay per lead content, social direct mail, and they still struggle to grow! [00:11:55] At DoorGrow, we solve your biggest challenge: getting deals and growing your business. Find out more at doorgrow.com. Find any show notes or links from today's episode on our blog doorgrow.com, and to get notified of future events and news subscribe to our newsletter at doorgrow.com/subscribe. [00:12:16] Until next time, take what you learn and start DoorGrow Hacking your business and your life.