Podcasts about Property management

Keith breaks down where the U.S. housing market appears to be headed and which regions and states are quietly winning or losing in the population shuffle since 2020—and what that could mean for real estate investors.  You'll also hear about an intriguing cash-flow play in single-family rentals in select Southern markets. Then, Keith is joined by financial strategist and comedian Garrett Gunderson, who challenges the usual "scrimp and save" advice. Together, they explore how to build real wealth without sacrificing your life today, how high-net-worth individuals often get money wrong, and a different way to think about financial independence, freedom, and investing in yourself. Resources: Get Garrett Gunderson's Killing Sacred Cows audiobook free: DM @GarrettBGunderson on Instagram with the words "Keith Cows." Episode Page: GetRichEducation.com/595 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Keith, welcome to GRE. I'm your host. Keith Weinhold, is the future direction of the housing market trending up or trending down? Which states have seen the most population growth? Then powerful wealth mindset tactics with a financial comedian today on get rich education   Speaker 1  0:20   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads and 188 world nations. He has a list show guests and keep top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Keith Weinhold  1:04   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally. While it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Speaker 2  1:38   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:54   Welcome to GRE from Mount Rainier to Mount Rushmore and across 188 nations worldwide. I'm Keith Weinhold, and this is get rich education. I am not a Lambo driving influencer that will take any brand deal just to shill a gambling platform instead. Our core strategy at GRE is aging. Well, I've spoken with a lot of LP investors with capital calls and deals that lost all their money. Well, we approach wealth building with discipline and consistency. It doesn't sound dazzling, but it really shines when things go wrong elsewhere, because at least for the core of our portfolios, we get long term fixed rate debt for income property get paid five ways and win the inflation triple crown, and we do it all with a high degree of passivity. Right before I took the mic today, I got a two sentence email from a property manager that said an air conditioning unit's air handler board had to be replaced for $420 I don't even know what an air handler board really is. Now, the manager sent some photos in a written estimate. I quickly checked chat GPT, and I saw that the price was about right, and replied to my manager to go ahead and have that done. That's it an example of relative passivity. US residential real estate has nominally appreciated over every single 10 year period in modern history, despite some occasional short term downturns, even those are not common. Well, we recently had a guest mention that it's 20 years at the longest like 20 years or less is the period of time between which real estate never goes down. He was right. But you actually can't find any 10 year period where home values fell. What about the 2008 global financial crisis, I think that's the first place that the mind goes. Well back then, home values bottomed out at 208k in 2009 before they started growing again. And 10 years before that, the median price it was 157k in 1999 so even when home values hit their GFC low at that point, they were still up 32% from the previous 10 years. So you can confidently say then that over any 10 year period, home prices are up nationally. Now, how about the future? Well, for the future, there is more evidence of rising home prices. Building permits for new homes have fallen to their lowest level since 2019 that's according to the census bureau. So fewer single family homes are being built. Now we plan to discuss that more on. Next week show when we dive deep on does America really have a housing shortage? But this week, more reasons for future home price bullishness is that the labor market now, it's not doing that great. It sure isn't white hot, but unemployment, which was already low, that recently dropped a touch lower to just 4.3% inflation has fallen to 2.4% and wages are rising faster than that. In fact, our own Fed Chair recently remarked at how he's surprised at the strength of the economy. The property market analytics firm kotality, they now expect home prices to appreciate another four and a half percent this year. They and other firms continue to believe that the Midwest will be the hottest area of home price growth even more than that four and a half percent in that region. That is because not only is the Midwest underbuilt, it's that the prices are so affordable that it's attracting young people. The other factor is that mortgage rates recently dipped just below six into the high fives again, and that can release this pent up housing demand, and think about where we've come from. In late 2023 mortgage rates were about 8% and now lower mortgage rates also reduce the lock in effect, so it can create both more sellers and more buyers. The thing to remember is that 70% to 80% of home sellers are also home buyers because they've got to live somewhere. And first time homebuyers, of course, they buy only, they don't sell anything. In fact, former GRE guest in housing wire lead analyst Logan modeshami and Barry Habib were just positing on this at housing wire's latest summit on how the volume of home sales has been depressed for so long that lower rates could very well trigger a rush of buyers, these kind of people that have been delaying purchasing for years, this pent up housing demand being released if indeed rates go lower. People think they know the future, but we don't really know that that's going to happen for sure. But a lot of optimism about this phase of the housing market supported by not great, but decent economic conditions. Of course, that new housing demand is going to manifest unevenly across the nation. So let's talk about the places that have seen the most population growth from 2020 to today, basically the states that support that housing demand. Well, between 2020 and today, the US has grown by about 10 million people. That's over 3% nearly every state grew. But the bigger story is where that growth is happening. And really, here's the jaw dropper as a region, the South, gained more people than all of the other regions combined, about 7.6 million new residents in the south since 2020 the South's population is up 6% the West's almost 2% the Midwest population is up more than 1% and The Northeast up seven tenths of 1% again, this is not per year. This is total population growth from 2020 to today, Florida and Texas, they led the nation among the big states, both up almost 9% sprinting like they just found out that income tax is optional. The Carolinas in Tennessee are big southern growers too. People clearly keep moving toward warmer weather, a lower cost of living, lower taxes and job markets. Nothing new there. California in New York are the biggest losers in absolute numbers, California losing half of 1% of population in New York, a full 1% people keep moving away from these traditionally expensive, high tax coastal states like a buffet when the crab legs run out, people just getting up and leaving. That's not any sort of news story there, either. These trends help cash flow residential real estate investors like us, because the south aligns with that favorable landlord tenant law and those high ratios of rent income to purchase price. Luckily for us, that's where people are moving too. The Midwest has those phenomena as well, although their growth has been slower.    Keith Weinhold  9:39   Now a few Midwest highlights for you. Since 2020 the population of Indiana is up 2.8% quietly benefiting from Illinois. Escape Velocity, Missouri up almost 2% and that's growing mostly in Kansas City and St Louis suburbs. Ohio at almost 1% that's pretty modest growth overall, but Columbus up 5% that is flexing like it just landed a semiconductor plant there in Columbus, the intermountain west has bicep bulging growth, but it rarely works for us, because rents are only a little higher, but property prices are way higher. Yes, those pretty Rocky Mountain states, great Instagram, tough cash flow now Louisiana, it is a state that confounds people. It's a warm place, and it has a low cost of living, you would think Louisiana would be attracting people in droves for those reasons. Well, then why is its population following Louisiana down nine tenths of 1% since 2020 Well, you've got bleak job prospects that make Louisianans leave its tax competitiveness ranks 31st property insurance costs are high thanks to environmental risk. Louisiana has more swamps than beaches. Even the NFL saints were six and 11, and if they had made the playoffs, that wouldn't have made people move back. And hey, no personal shade here, I enjoy going to the New Orleans investment conference in Cajun culture, in Airboat Tours through the alligator filled Bayou, fun stuff, but for income producing property, you got to seek out different characteristics than just vacation Glee or how Good the gumbo tastes keep emotion separate from investing, Hawaii is America's biggest percentage loser. Its population is down one and a half percent since 2020 its cost of living is stratospherically high, with a median home value of just a little over a million dollars. That results in net outmigration to the mainland parts of the Aloha state now experience natural decrease. That means that deaths exceed births. Natural decrease. That's mostly a phenomenon on the Big Island. That's not where Honolulu is. That's where you have Kona and Hilo when young people can't afford to stay demographic gravity kicks in population loss. Hawaii is also highly dependent on tourism, meaning more volatility in recessions. It has contractor availability issues and higher repair costs, partly due to shipping materials to the remote islands. What about the upsides of Hawaiian real estate? Well, you're just going to have this inherent, strong, long term land scarcity and lifestyle desirability overall. Hawaii isn't bad. It's just hard. And I like Hawaii as a place to vacation, so the best times in my life were in Hawaii. Now, with all this said, These are broad generalities about states which are big places themselves right now. There are certainly Missouri real estate investors listening to me that are actually losing, and Hawaii real estate investors that are winning, and even cash flow positive. I'm talking general trends here, and this is with respect to long term rentals, not short term rentals. If your rent to price ratio is as low as point three or point four, like it often is near the coasts, well then you are speculating on appreciation. That's what that means. All 50 states have opportunity. All 50 states have no go zones. People keep moving south. That's a trend that the pandemic accelerated six years ago. More opportunity is concentrated there. That's got nothing to do with vacation excitement. That is population math, and I'm talking about swimming with the tide here in our Don't quit your Daydream newsletter I recently sent you that colorful population change map that I was describing some of there. More recently, I also emailed you that great and rare map of landlord friendly versus tenant friendly states mapped out and a lot of other great stuff.    Keith Weinhold  14:17   Before we bring in our firebrand guest, Garrett Gunderson, I just learned about a really strong opportunity for a provider of single family rentals and duplexes in Memphis and Little Rock. They're providing a locked in 5% interest rate and 5% property management for five years. Yeah, that's not a throwback to 2020 it's what mid south homebuyers calls their triple five program. They are the oldest and most trusted, maybe turnkey investment provider in the country, operating since 2002 and what they do is they offer these fully renovated, occupied rental properties in Memphis and Little Rock, two of the strongest cash flow markets in the South. With financing and management and rates that make the math work like it hasn't in years. So again, 5% interest, 5% property management fees for a full five years. You know those markets, they already had these investor advantage numbers with rent to price ratios mere point eight in Memphis and Little Rock. But yeah, that low 5% mortgage rate, even for renovated properties, not just new build. That's the kind of spread that turns a good deal into a great one. So to give you an idea, if you get a 30 year fixed rate mortgage loan amount of 125k with a 7% mortgage rate, your principal and interest payment is 832, at a 5% rate, it's just 671, so that's $160 more cash flow right there, and it's made a tad sweetener than that with just a 5% Property Management rate. And I don't know how long that offer is going to last, but it is available now and for the next little while, you can ask about it. When you visit mid southhomebuyers.com that's mid southhomebuyers.com and you can ask them about their triple five program. More next. I'm Keith Weinhold. You're listening to Episode 595, of get rich education.    Keith Weinhold  16:19   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio, through a 721 exchange, deferring your capital gains tax and depreciation recapture, it's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721, the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE, that's F, l, O, C, K, homes.com/gre. You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom family investments.com/gre, or send a text. Now it's 1-937-795-8989 Yep. Text their freedom coach directly. Again, 1-937-795-8989,   Dani-Lynn Robison  18:08   this is freedom family investments. Co founder, Danny Lynn Robinson, listen to get rich education with Keith Weinhold, and don't quit your Daydream. You Brenda.   Keith Weinhold  18:24   Today's guest is someone that America knows as the long haired, bearded money guy in the past, he's drawn physical appearance comparisons to Jesus Christ. He's a prominent financial strategist. Founded an eight figure company, hit the Inc 500 he's both a New York Times and Wall Street Journal bestselling author. He is just an electric speaker, including appearances in front of dozens of billionaires. And he's just got this great way of speaking to financial freedom that hits you differently. He even has a comedy special that's great to welcome back to the show. Garrett Gunderson,   Garrett Gunderson  19:02   that's good to be back. Man. Is really good. Love your energy. Has a nice intro.   Keith Weinhold  19:07   Well, you give a lot of like, nice guidance to people that's somewhat different than they're used to hearing. You know, Garrett, I think a lot of the conventional guidance is, you know, it's not very far above Elementary School advice like, put your credit card in the freezer so you don't use it too often, but a lot of times you speak to either business owners or people that have already had some success, and I think a lot of your underlying mantra is, hey, you better live your best life now   Garrett Gunderson  19:35   I kind of feel like you are your greatest asset, and if you starve out that asset because you don't feed it with knowledge, or you don't invest in yourself, or you don't gain the skills that really matter because you're so addicted to scrimping and sacrificing and building your balance sheet right, trying to build savings accounts and retirement plans and doing all you can to pay off that mortgage. Yeah, you could become a millionaire on paper. But will you live like one? Will you enjoy your. Life. What about all the memories that you miss along the way? What about having quality of life today and creating a life you don't want to retire from? The wealthy people, they didn't get that way because they shrunk their way there. They didn't get that way because they were amazing budgeters. They built businesses. They created value. They learned how to, you know, sell or speak or market or have business acumen that grow business or to hire people, and having those systems that actually impact more people or more deeply impact the people that they serve, because it's about value creation and their value creators. And I think this notion of just thinking, Oh, I could just trade time for money and set money aside. Man, that's a really painful way to get to a million dollars, but Northwestern Mutual, they just put out an article that said, 32 or 34% of millionaires don't feel wealthy, because if you have money tied up in an account that isn't kicking off cash flow, it doesn't feel like wealth. You can't spend that net worth. It's just a statement if you don't learn how to create cash flow. And I love financial independence, where people have cash flow from assets to cover their expenses now their lifestyle is covered from that cash flow. Now they can reinvest every active dollar into themselves and their quality of life, into more cash flowing assets, into taking trips along the way, not just waiting until they're too old to enjoy it.   Keith Weinhold  21:13   You work with business owners all the time, and you've even worked with some ultra high net worth people that still seemed to scrimp and save. Do you think really, what is that the function of? Is it more of the wrong mindset or the wrong tactics when someone acts that way?   Garrett Gunderson  21:32   It's a mindset that's really kind of handed down to them? Yeah, maybe from their parents or grandparents or from a different era, like there's people that were, you know, in the Great Depression, that then tells stories to their family about how tough it was, and you never know when that money could go away. So you got to hold tight, and it's a scarcity mindset. So one of the wealthiest clients I ever had, I mean, this was a guy who he was worth a lot of money, but you would never know it. I saw him on TV one day. I was like, Dude, he needs new clothes, and we found a strategy to save him a bunch of money. He was just buying his inventory with cash or like, let's buy it on a plum card, and you'll get cash back. I just said, Just take 10% of that cash back, which was over $100,000 a month, and spend it on yourself. He's like, Well, I wouldn't know to spend it on I'm like, Well, how about some new clothes to start with? He's like, Okay. And then the next month, he bought a nest system for his house. The next month he bought a sound system. Eventually, saved up enough money to buy a Tesla, which he really wanted, like it was money that was there for him, but it changed his entire paradigm, because now he had a quality of life. He was very philanthropic and donated money. He built massive businesses, but he never treated himself well. He'd never felt like it was okay to spend that money because of his upbringing, because the way that his parents viewed money and the way that their parents viewed money, and it was always something that felt scarce. So it felt like, okay, will this go away? And the reality was, we just found money in your couch cushions, essentially. So why not enjoy it along the way? He eventually bought a home that he loved on the water, that he loves the garden. I mean, it was like a total transformation with that one simple thing to help him heal his relationship with money, overcome scarcity, because he was already highly productive. He just had to break free from this budgetary mindset.   Keith Weinhold  23:09   That's great. It was almost like, Dude, I can see it in you. Before we even talk. You got that code off the rack at Burlington. I swear you can do better than this. Come on, now   Garrett Gunderson  23:17    30 years ago, 30 years ago too. You know, it doesn't even fit anymore.   Keith Weinhold  23:23   Well, you know, I recently dedicated a complete episode Garrett to the way I put it is that the risk of delayed gratification is denied gratification. Now, there are some good things to be said for delayed gratification, I think, especially when you're younger, or you're just starting out in the working world, and you just tried to cover rent for your apartment and you don't have much else. Delaying some gratification is good. You need to form capital. You need to get liquid. I try to avoid saying stacking savings, because that gets people in the mindset of becoming super savers sometimes, and they miss out on returns. But what I mean about the risk of delayed gratification, being denied gratification, if it's taken too great of an extent, is, you know, I'm talking about the guy where, when he was 24 he used to say, Oh, I'm going to visit the Galapagos Islands someday. That's what I want to do. But you can just tell by the time you talk to the dude, when he's 48 he begins to use the past tense for things he wanted to do, for example, then he might start saying, Oh, well, I guess I never did visit the Galapagos Islands. You know, you can tell with people when they use the past tense, and that's when you know that their future is not bigger than their past, and a lot of that is the reflection of their financial status.   Garrett Gunderson  24:40   I got married at age 23 and the first two years, well, it was really like the first year and a half, maybe I was just such a miser. I gave my wife a $400 a month budget for an apartment, and we found out that there's places you don't want to live in Utah. I didn't know it, but she's like, is this what you want? And I was like, This doesn't feel like a safe neighborhood. And then you. Know, I was like, All right, maybe $600 I was still kind of really scarce. And my parents were like, Why don't you just live in our basement, rent free, and my wife's like, sex free. If you think that's where we're living, I'm gonna live in my parents basement, you know? Because I just thought money was something to save. So I saved me over 50% of my income. And a lot of people were like, that's amazing. Congratulations. Great job. And so I felt really good about it, and then I realized that my business wasn't growing as fast as this other person my age. I met him at an event, and a year later, he was doing better. And I was like, Dude, what's going on? I could hear it in your voice. I could hear like, you're just a different person. He goes, Oh, I'm doing two things. One, I just hired this guy, Steve D'Annunzio, and he changed my entire life. And I was like, I need to meet him. He's like, he happens to be here in Vegas. He's from Rochester. Introduced me. I hired him as my coach right away. I'm hearing all these people talk about strategic coach at the same event, and they had a booth. So I signed up for Strategic Coach, which meant I had to part with some of my money. Think it was $7,500 I hired Steve as a one on one mentor, and all of a sudden I was investing in myself, yeah. And I broke free from those chains of like, reduction and restriction into the game of production. And then I even had a situation where a woman called me out at the same event. This was a life changing event where she's like, I wonder what it's like living in a financial prison you built for your wife. It's like, Oh, see, that's what happened. I thought I was responsible, and building that responsibility that's actually building walls. And when I came home for that event, my wife and I started looking for our home. Within a few months, we found one. I bought a home. It was very easily within my means. I basically made as much as I paid for this house that we loved. We lived there for nine years. We built so many memories. You know, we had our two kids while we were there, I started host study groups, and that year, I grew my income by $170,000 with the coaching of strategic coach, Steve dnunzio And this woman, Nancy, calling me out. The next year, it grew by even more because the skills started to compound. I decided from that moment forward, I would spend at least $40,000 a year, which I might be able to reach for some people, but at least $40,000 a year on mentors. Is a guy named Alan. He writes my meal plans and my workouts, and I'm at 10% body fat because he knows exactly what they do. I do what he says. It was worth this $10,000 investment, because now I pay attention what I pay for, and I look at like if I'm my greatest asset, how can I create more energy? How can I create more value? How can I feel better about myself? How can I show up the very best version of I am, so I can deliver the most to the other people. And so I've always just been in amazing groups. I just got back from two different events in Beverly Hills around amazing people, learning incredible things that allow me to grow. I haven't spent a huge amount of money on a mentor last year to figure out something that I hadn't been able to figure out to this point. It's the same thing I did to become a speaker, to become a writer or even learn how to sell or market, you've got to invest in the skill, not just in the savings account. You grow yourself first, and then you grow your money. If you starve yourself out because you're in that miserly mindset, you're going to stunt your growth and never be fully fulfilled.   Keith Weinhold  27:56   You're your own best investment. And yes, this stuff is the varying definition of investing in yourself. Don't live below your means. Grow your means and all of that.   Garrett Gunderson  28:05   Grow your means and be more efficient within your means. I mean, the best way I know how to save is not overpay on tax, which 98% of business owners are doing that today. You know, don't overpay on interest, because you either restructure your loans, renegotiate your interest rates, reallocate underpouring funds to pay it off, or you remove investment drag. A lot of people have unnecessary fees and hidden commissions that drag on their investments. Or just design your insurance properly so it's more efficient. Those four i's, IRS, interest, investments and insurance show you how to keep more of what you make, take some of that money, build up your foundation so you have a peace of mind fund, so you have staying power, at least six months of liquidity and then invest more into yourself or learn how to create cash flow. This is the game the wealthy play. But the poor middle class, they think it's about paying off a mortgage and funding the retirement plan, and they will argue about it until it's too late, when they get there and now their homes paid off, but the property taxes are higher than their mortgage was 20 years ago, you know. Or they have home maintenance they have to take care of, or inflation has destroyed the value. Like if someone were to put away 100 grand and they wait for 30 years if they got 10% which the market did the last 30 years, if you reinvest dividends, they're going to have right around $1.7 million but if they have to pay 2% in fees, fiduciary fees, 12 b1 fees, which are marketing fees for the fund expense ratio, you know, the fees of maybe a retirement plan, and they now have 2% fees. It only goes to 1.1 million. Huge difference. And that 1.1 million if we account for inflation, even if we said inflation was low, like 2.7% over that 30 years. Well, by the time we pay for inflation and tax, guess what? The purchasing power value is like, 300 grand $300,000 that's a problem, and it's because they didn't learn to create cash flow. It's because they didn't learn to invest in themselves. It's because they relied completely on a market they don't control. I'm not saying the market is completely something to avoid. I'm saying we go in sequence. How do you grow your income for. First, then how do you keep more of the income you make with? You know, financial savvy and plugging leaks. Then learn to grow your money, but maybe growing your money. For some I like to think of like three dimensional assets, like real estate's three dimensional. It can grow in equity, it can create cash flow, and it has tax advantages. But my business is three dimensional, the more my business creates cash flow, without me, the more equity it has, and that business has major tax advantages. So most people are one dimensional, pay off a loan, put a money in retirement account. That's the poor, middle class. Wealthy people build a system where they've got three dimensional assets, equity, cash flow and tax savings. And that is a complete game changer, because then they can employ the buy borrowed I strategy, if you have assets like, you know, an individual stock, or if you have assets, like a piece of real estate or a business, you could borrow against it. There's no tax on that five for life, right? You keep refinancing. Or you can even do charitable trust to avoid the taxes upon the sell of those paying no tax when there's gains. Or you can pass it on to the next generation with a step up in basis, which means they get it at the full value and not have to pay the difference. And if you have life insurance, the life insurance will pay back the loan that tax free as well. So buy, borrow, die. I mean, it's a completely different thought process of defer taxes. If you defer taxes, I get it. You could do a Roth IRA or Roth 401. K Sure, that'll let you put after tax money in and grow it. But where's the cash flow? What's the underlying investment? How does it help you create financial independence? How does it help you does it help you grow your skills to become a better investor? We've been taught to be lazy, not that people are lazy. We've just been taught to be lazy with our money. We've been fed a narrative. I don't have the time, I don't have the skill, I don't have the interest, but I want to have it, so I just hand it over. And who do we hand it over to Keith Wall Street. Wall would you trust Wall Street? Like you flew to Frankfurt not long ago. Would you get on Wall Street airlines where they're like, hey, sometimes our planes go up, sometimes they go down. That would brand, and he'd feel inspired, right? Would you go to Wall Street, you know, hospital? Or like, hey, he lost one of your kidneys, and by loss, we stole it and resold it. You know, like, Wall Street doesn't have a brand. That's good. It's boiler room. It's Wolf of Wall Street. It's the movie Wall Street with Michael Douglas. You know, greed is good like yet that's what people put their money into. And you can go to any downtown and any major city, and guess who has the biggest buildings, insurance companies, banks and Wall Street investment companies. So you're taking the size of your home and shrinking it to build up their building and put money in their pocket. And their story is, it's because they're Ivy League, they're smart. They try to make it complicated, but you don't have to know most of the things you think you need to know about finance. The foundational things are important, how to protect your assets, how to design insurance, to transfer risk, how to have some liquidity, how to automate your savings. And then you focus like Warren Buffett would teach. He said, You know how people would become a better investor if they only had 20 investments they could make over their lifetime? He says, I don't diversify because I'm in the know. He's like, I'm a good businessman, therefore I'm a good investor and I'm a good investor because I'm a good businessman. I don't separate the two. Yeah, most people think he's a stock market investor. No, he buys out the companies in the stock market. Rarely does he have minority stakes in it. He does have some of that, maybe with Coca Cola and apple, but he bought a lot of companies outright, whether it was Geico, whether it was See's Candies, whether it was like he buys these companies, he's so far outperformed the stock market by billions of dollars from an index fund like what he has, versus someone that put the same money in an index fund, Warren has billions more from his investments than the person that put all their money in the index fund, even if it was the same amount. It's completely about strategy, not about luck.   Keith Weinhold  33:30   Yeah, it's the Andrew Carnegie, put all your eggs in one basket and then watch your basket. Yeah? Watch that basket like a hawk. Totally. Yeah. I mean, stacks mutual funds, they have what I call those five simultaneous drags. If you think you're getting a 10% long term return over time, subtract out inflation, emotion, taxes, fees and volatility. What do you have left? Not much. But there's no friction there. It is just the easiest thing to do ever since decades ago, 401 K contributions begin to become automated throughout your paycheck, sometimes even automatically, automated   Garrett Gunderson  34:04   values your permission opt out. It's easy. You have to opt out, right? It's Big Brother. You don't know what's best for you. And by the way, how crazy are four one K's. Part of the reason the market has gone up in value is because people consistently fund for one case, whether the market's going up or down, they're told $8 cost average. So that's artificially fueling the market. When we see the numbers, there's a buffet index, and it's like 2.9 times higher than what he's comfortable with, with the stock market, because of how overinflated the market is, partially due to inflation, partially because people put money in. But let's remember, why did 401, K's even come about? Because pensions failed. And by the way, these pensions failed and they had world class money managers managing these multi billion dollar pensions, but they didn't know about something called disinvesting, or didn't know enough about it. When the market goes down and pension money is owed, they still have to pull money out of the pension to pay the employee which disinvests, which pulls more money out of the account. So now instead of just being 10% down, they might be 17% down. And so even if the market comes back 10% it's 10% of only 83% of the money. So not even back to square one. And if it goes down a second year in a row, they're in real trouble. It starts to chip away at the principal, and they can't recover. And that happened to pensions, and they said, Oh, here, we can't handle these. We're going bankrupt. We're going to get rid of pensions. You take care of it. Well, guess what? Vanguard says, the average balance in a 401, k right now is $148,000 how someone's supposed to live on $148,000 even if you could get 10% that's $14,800 a year taxable, that's not going to do it. Even if you have a million dollars, where are you going to put the million dollars to get the return without risking it going down? Maybe you're going to be in treasuries at 5% that's $50,000 taxable per year. You're a millionaire on paper, but living poorly. That's why I'm here to call these things out. I think that my book Killing Sacred Cows, which was my original New York Times bestseller, which is probably how we met. Yeah, I rewrote it. I rewrote it, rereleased it in 2024 and I'll give people the audiobook. They just have to DM me on Instagram. Garrett B Gunderson and DM the word cows with Keith's name, cows and Keith or Keith and cows. I'll hook you up with the book for free, so you can learn about the nine financial myths. We're talking about some of them here, but there's also some comedy in there, so they can laugh after each chapter. I threw some comedy in there. You know, if you like my comedy, I'm not the funniest comedian. I'm just the funniest money comedian. That's the reality.   Keith Weinhold  36:33   When we had the very inventor of the 401 k plan, Ted benna, come onto the show, he revealed to us that when 401 K plans rolled out, they were first called salary reduction plans. They had to scrap that name in order to foster participation. But reducing your salary is still principally what it does to you. You got to think about it that way and blow up some of these myths. But Garrett, you've already given a lot of great technical information about what someone can do, how someone can think differently. Bigger pictures, we're sort of winding down here. You know, when I'm thinking about this whole delayed versus denied gratification thing, how do you meter it out right throughout your life? I mean, what's your earmark your family legacy? How do you meter it out, right so you don't have too much or too little at the end of your life?   Garrett Gunderson  37:15   I like to see this strategy of, like, what would the rockfellers do that I wrote about is, you know, the beginning before that strategy is you pay yourself first, which has always been around Richest Man in Babylon. Tons of books talk about it. My argument is you want to pay yourself at least 15% of your personal income, off the top, to a separate account. Once you get six months in that account, now you start to invest that money, but you build your stability with that peace of mind. And we want 15% because the luxury once enjoyed becomes a necessity. So you want more money in the future, not the future, not less propensity to you know, there's also, just like planned obsolescence, things break down. You have to repair them. Technological change, we're buying new technology that doesn't even exist. I have now subscriptions to a bunch of AI things that help me out, right? But I'm spending more money. There's also taxes, those could go up in the future, or 38 trillion in debt as we film this, which is a crazy number. And there's also inflation. If we give 3% to each of those five factors, that's 15% now again, use the four i's, IRS, interest, investments and insurance to find that money, not just budgeting. But then here's the magic. At least 3% of your income should go to a separate account called the Living wealthy account. That's your guilt free spending, value based spending account, so you enjoy some money along the way. These are the things that are the finer things in life that people might say are wasteful. You know, there's a book called unreasonable hospitality that talks about this, 11 Madison Avenue was the number one rated restaurant in the world. And, you know, will who wrote the book talked about they had 3% of their budget to just go wild on their customers dream making money, right? So to create the special experience in the restaurant, and even the bear, I think was season three, showed some of that process of how they do that. So I highly recommend taking a certain percentage. You get to enjoy along the way. It could be higher than 3% but start there, and you're going to feel better, you're going to have different energy, you're going to show up in a different way. And then from there, I just believe in having trust, so that your money's outside of your estate, and protecting financial predators so you own nothing but control everything. And I personally use life insurance. I use just standard over, you know, like basically properly structured, optimally funded whole life, so that death benefit will come in after I die. It allows me to spend more of my money and then have it replenished so I can enjoy more of my money along the way, because I know that death benefit will be there for my wife or even for my family trust after I'm gone, so I don't disinherit the people that I love.   Keith Weinhold  39:31   Garrett Gunderson, he can take you through these steps, which he calls financially fit, to financially independent, and then finally to financially free. Tell us a little more about that going through those steps.   Garrett Gunderson  39:44   So financial fitness means your financial house is in order. You've got everything handled properly, car insurance, homeowners, liability, disability, medical life insurance, your corporate structures as a business owner, how you pay yourself, your taxes the last three years and move. Moving forward your investments. It's like, you know what it's going on. You've improved your cash flow, and you're dialed in. You're as safe as you could possibly be. Then financial independence is, how can we create income, especially from a business that comes in when you don't, that's people, that's processes, that's technology, so that you can be involved, but you don't have to be involved. This is the part most people miss, yeah, and I think it's crazy. A lot of people have this notion they're just going to work so hard so they can sell their business one day, I'm like, What about just creating a business that you love so much you don't want to sell it? What about giving up the things that are burning you out and have the employees that can take care of that so you do the things that you love and then just enjoy life along the way, take some little trips, take some time off and come back in. The business grows up when you're away, they learn how to do things without you, and then you can still create value into that business. I sold the business in 2021 and really regretted it, because I kind of was so removed from the business. I kind of felt like it lost its soul and I didn't feel connected to it. So this time around, I started a business in July of 2024 I'm like, I'm only going to work with the P with the people I love, building things that I love, and I'm not going to let myself get burned out by doing too much. We're going to take two weeks in Hawaii coming up here in April, just enjoy some time together as a family. We do quarterly family retreats with my wife and kids. We do traditions with my family up at my cabin, like I want to have this great life where it's blurs the lines between work and play. I have a little quote from someone else that talks about that art of life is blurring the lines between work and play, but also just having complete play sometimes that there is no work. So I come back refreshed, relaxed, rejuvenated and ready to create. And so really, that financial independence gives you permission to swing for the fences and what you do, knowing your foundation is handled, knowing that your lifestyle is covered, from assets to create cash flow gives you work optional freedom. But instead of retiring, think, what could your biggest impact be like? Create the life you don't want to retire from. Create a vision so compelling you can dedicate your life to it and find that the win is actually in the work, not just the outcome. I think that is the elegance of we win when we play, and when we have more play in our life. We don't try to escape from something. And when you start something, you might have to do things you hate, but you can eventually delegate it, and then life becomes great. I mean, one of my early coaches, Dan Sullivan, who I mentioned, a strategic coach. He's in his 80s, still behemoth of creating value in the in the market. To listen to him, you know, he's phenomenal. He's made such a huge difference in my life, and he has no intent of retiring. He just gets smarter every year, adds more value, builds more infrastructure, and he's the one that taught me the merit of free days, just taking time off, taking time away. So, yeah, that's financial independence. Is cash flow, and then financial freedom is a state of mind. It's when money is no longer the primary reason or excuse you would do or not do something. It's a consideration, but it's no longer the consideration means that you have a healthy relationship with money. Money is an asset and an ally, not an enemy. You don't come from a place of scarcity. You come from a place of abundance. You can be more present with your family and doing what you do without feeling distracted. I think wealth is our ability to be present, not necessarily how much money we have in a bank account. I think we have a good amount of money in a bank account, and we can be present. That is like true wealth.   Keith Weinhold  43:12   It harkens back to the John D Rockefeller, he who works all day has no time to make money. Rockefeller would have said, you can architect a wealth plan if your head is down on the assembly line, that means gradually move your offer. It's from trading your time for dollars over to owning assets that pay you to own them. Garrett's comedy special is called the American Ream. There's no D in that word, R, E, A, M. You can look that up, Garrett. It's been enlightening as always. Thanks so much for coming back onto the show.   Garrett Gunderson  43:43   Hey man, good to be back.   Keith Weinhold  43:51   Always. A lively conversation with Garrett, besides some great mindset perspective, he's really good at saving you tax and setting you up with asset protection. Though he's not as real estateish as me, he's pretty savvy. For example, He's aligned on the fact that, for example, say you have an 80k debt. Well, it doesn't necessarily mean that it makes sense for you to pay that off sometimes it does, but what happens to your net worth anytime you pay off an 80k debt, well, let's see. You've reduced your asset side by 80k and you've reduced your debt side by 80k so your net worth is the same, and retiring the debt means that you might have lost leverage, lost cash flow and lost tax advantages, all at the same time on Instagram, send a DM with the two words, Keith Cows to Garrett B Gunderson, and he'll hook you up with his book for free next week on the show, we go deep on does America really have a housing shortage with an expert analyst. Until then, I'm your host. Keith Weinhold, don't quit your Daydream.    Speaker 4  45:01   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively   Keith Weinhold  45:29   The preceding program was brought to you by your home for wealth. Building, get richeducation.com  

In this deeply personal episode of the podcast, we explore what it really means to break up with comfort—in relationships, careers, and life. After ending a nine-year relationship, Amelia shares how staying “comfortable but stagnant” was like dragging a 250-pound anchor while still building a real estate portfolio.We discuss:How real estate investing became the tool to design an audacious, abundant lifeThe difference between being comfortable vs. stagnantHonoring your intuition in relationships, money, and investing decisionsThe power of female investor communities and support systemsTaking messy action, finding “quick wins,” and living in the solutionThis episode is for women in real estate who feel called to something bigger—but are scared to leave what's “fine.”Follow us on Instagram and share how this episode resonated with you.  Resources:Simplify how you manage your rentals with TurboTenantGet in touch with Envy Investment GroupMake sure your name is on the list to secure your spot in The WIIRE Community Leave us a review on Apple PodcastsLeave us a review on SpotifyJoin our private Facebook CommunityConnect with us on Instagram

This Flashback Friday is from episode 658 publish last April 11, 2016. Many existing clients, and a few new ones, are closing on income properties using cash and delayed financing options to build their portfolios while interest rates are incredibly low. The next step will be for property holders to connect with their property managers to set expectations and to ensure current needs are met. And, there are possible new markets opening up in Ohio and Tampa, Florida.   Mentioned in This Episode: Jason Hartman Cozy.co Jhart88 on Voxer Venture Alliance Mastermind     Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

How did Larry Korman go from growing up outside Philadelphia to leading one of the most innovative hospitality brands in the world? In this episode, hosts David Millili and Steve Carran sit down with Larry Korman, President of AKA Hotels & Residences and Co‑CEO of Korman Communities. Larry shares his journey from growing up outside Philadelphia to leading one of the most innovative hospitality brands in the world. You'll hear about:The power of design and how it shaped his career.The four generations of the Korman family and their 100+ year legacy in real estate.How AKA redefined luxury with flexible stay residences.His collaboration with Airbnb and thoughts on the future of hospitality.Personal insights on family, travel, and what's next for AKA.This episode is packed with inspiration, history, and forward‑thinking ideas for hoteliers, designers, and anyone passionate about hospitality.Watch the FULL EPISODE on YouTube: https://youtu.be/7-ci3RVgY5c Links:aka on LinkedIn: https://www.linkedin.com/company/aka/posts/?feedView=allaka: https://www.stayaka.com/For full show notes head to: https://themodernhotelier.com/episode/254Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

Send us a message!In this episode, Alex & Annie sit down with Tim Hubbard, CEO of Corzly, to break down how a virtual property management model actually works and what it takes to make it successful.Tim started in long-term rental investing before shifting into short-term rentals more than a decade ago. As his portfolio grew across multiple states, and eventually internationally, he built the systems needed to manage properties remotely. That operational backbone became Corzly, a virtual management partner now supporting property managers in more than 40 cities.Tim shares how their white-label backend model works, how they collaborate with on-the-ground teams, and where AI fits into real workflows. Not just automated check-in messages, but layered operational processes that involve owners, cleaners, early check-in requests, and revenue decisions.Episode Chapters:1:04 – From Long-Term Rentals to a 40-City Virtual Operation4:02 – The Idea Behind “Core Operations”5:28 – What Virtual Property Management Actually Means6:08 – Why 10–60 Unit Managers Are Their Sweet Spot7:22 – Running the Backend Without Owning the Listings11:17 – How Much Can You Really Automate With AI?11:58 – The Early Check-In Example That Shows How Complex Workflows Get15:55 – 225 Units Today… 10X Growth This Year?19:58 – The Hardest Part of Scaling Across Markets22:21 – Building Culture With a Fully Global Team27:44 – Developing a 20-Unit Resort in Medellín29:08 – Two Years of Permitting and What It Took to LaunchIf you are exploring growth, efficiency, or a different structure for your management business, this episode offers a clear look at another way to build.Connect with Tim:LinkedIn: https://www.linkedin.com/in/tim-hubbard-str/ Website: https://corzly.com/ ✨ Exclusive Offer to Alex & Annie Listeners:Streamline your short-term rental operations with Hostfully.Mention the Alex & Annie Podcast when you sign up and get free onboarding ($1000 value).

Key Topics Covered: 1. Design as Custodianship, Not Decoration Julian explains that design is about how a property works, not just how it looks in photos. He links design to long term wealth planning: like pensions, it's too important to leave entirely in someone else's hands. The goal is performance over years: easy lettings, happy tenants, fewer repairs, and a product that holds value. 2. The Big Mindset Shift: Property Is a Business and a Product Julian challenges the word “investment” and suggests landlords are really buying a business. Each property is a living, breathing product that gets used, abused, and needs managing. If you don't treat it like a business, it can quietly become a liability over five to ten years. 3. How Properties Become Liabilities Over Time Poor design and poor maintenance create a snowball effect: worse condition attracts worse tenants, which accelerates deterioration. Julian shares examples of developments becoming hard to sell or even “unmortgageable” due to maintenance and management issues. Legacy matters: many children don't want property, so dumping a problematic asset onto them creates stress, not wealth. 4. Why You Can't Abdicate Design to Architects and Builders Plans can pass planning and building regs but still be awful to live in. Common issues include impractical layouts, no storage, poor kitchen design, and bathrooms that don't function properly. Julian introduces the “good, fast, cheap” triangle: you can pick two, but not all three, and landlords pay the price later if they chase cheap and fast. 5. Practical Design Thinking for HMOs and High Use Properties In HMOs, the room is the tenant's home, so it must support multiple functions, not just sleep. Flow matters: kitchens, waste, smells, and shared spaces can make or break tenant experience and long term value. Lighting and electrics are often done to a builder's default spec, but that can create uncomfortable living and higher churn. 6. Serviced Accommodation Is an Experience Business Short stay guests want something boutique and memorable, not copy and paste. Julian recommends living in your serviced accommodation for a week to spot friction points: heating controls, WiFi, TV, keys, lighting, and usability. Service quality affects reviews, and reviews affect profitability. He references research suggesting superhost status can significantly lift margins. 7. The Commercial Upside: Small Design Changes, Big Profit and Value Gains Julian shares an example where improving presentation helped increase rent by £150 per month, which translated into a major profit uplift. He highlights how many landlords don't know their true profit margin, and confuse turnover with profit. Improving existing assets often delivers faster ROI than buying new ones, especially if older stock is dragging performance down. 8. How Julian Helps Investors: Training and Hands On Support Julian trains investors to become “design aware” and “design led” without needing to be designers. He offers remote consults (including Zoom based reviews), layout planning, electrical plans, materials specs, and project support via WhatsApp. His core message: be involved, be informed, and take control of the decisions that shape income and maintenance. Actionable Takeaways Treat each property like a business product, not a passive investment. Design for performance: durability, usability, flow, and maintenance, not just photos. Don't assume architects and builders will design a home that works, review layouts with real living in mind. Audit your existing portfolio before buying more, older assets may be dragging your returns down. Know your numbers: profit margin, not just rent, and understand how small rent uplifts can multiply profit. For serviced accommodation, test the experience yourself and tighten service, reviews drive revenue. Adopt the custodian mindset: build assets your children would actually want to inherit. Resources & Next Steps Icon Living UK: The creation of living spaces that people love and enjoy Julian Maurice: julian@iconliving.co.uk Download our FREE Pensions and Inheritance Tax Guide WealthBuilders Membership: Free access to guides, webinars, and community Connect with Us: Listen on Spotify, Apple Podcasts, YouTube, and all major platforms. Next Steps On Your WealthBuilding Journey:   Join the WealthBuilders Facebook Community Schedule a 1:1 call with one of our team Become a member of WealthBuilders If you have been enjoying listening to WealthTalk - Please Leave Us A Review!

Should You Sell Your Investment Property Right Now? Perth’s strong.Equity’s up.There’s talk of Capital Gains Tax changes. So… should you sell now or ever? Today I run through the 4 filters you have overlay to decide if selling ever makes sense and what are the most important factors to consider when making the decision. Let's go inside! Resource Links: Get your Strategic Portfolio Plan and our help with Buying Your Next Perth Property (https://www.investorsedge.com.au/invest-in-perth-property/) Get email updates about suburb intelligence reports and exclusive invites to our webinars, events, and workshops. Join (investorsedge.com.au/join) Join the Perth Property Investment Facebook Group (https://www.facebook.com/groups/perthpropertyinvestors) Join Jarrad Mahon’s Property Investor Update (https://www.investorsedge.com.au/join) For more info on our award-winning and highly rated Property Management services that give you guaranteed peace of mind (https://www.investorsedge.com.au/perth-property-management-specialists/) For more info on how our Property Sales services can ensure you get the best selling price while handling all the stress for you (https://www.investorsedge.com.au/selling-your-perth-property/) Episode Highlights: Intro [00:00] Should I Sell My Investment Property? [00:58] Personal Situation and Strategy [03:40] Market Conditions and Tenancy [16:30] Execution and Strategic Planning [22:18] Timing the Market and Final Considerations [27:20] Thank you for tuning in! If you liked this episode, please don’t forget to subscribe, tune in, and share this podcast. Connect with Perth Property Insider: Subscribe on YouTube: https://www.youtube.com/@InvestorsedgeAu Like us on Facebook: https://www.facebook.com/investorsedge See omnystudio.com/listener for privacy information.

In this Q&A episode, Axel answers two timely listener questions that are becoming increasingly relevant for multifamily investors in 2026: when it actually makes sense to bring property management in-house and how artificial intelligence is changing where investors can (and can't) maintain a competitive edge.On the operations side, Axel breaks down the realities of vertical integration, why scale and local presence matter, the foundational hires you should prioritize, and the systems required to avoid turning in-house management into a costly distraction.On the technology side, he explains how AI is rapidly commoditizing underwriting, research, and analysis. As access to data and decision tools becomes universal, investors will need to shift their focus toward execution, operational excellence, and relationship-driven deal flow.This episode is designed to help operators think strategically about where to invest their time, where their real edge will come from, and how to build a business that stays competitive as technology accelerates.Join us as we dive into:When it actually makes sense to bring property management in-houseWhy scale (and local presence) matter before vertical integrationThe foundational hires to prioritize when building an internal teamThe operational infrastructure and software needed to scale successfullyWhy most investors underestimate the complexity of self-managementHow AI is already commoditizing underwriting and researchWhat types of work AI will automate in the near futureWhere your competitive advantage will come from going forwardWhy operational execution and relationships will matter more than everNH Multifamily Fund III Details:Link to the recording for the NH Multifamily Fund IIIAccess the NH Multifamily Fund III deal roomConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate PartnersAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.

In-house maintenance can transform a property management company — or create operational chaos. So how do you know when it makes sense? In this episode, Marc Cunningham sits down with Melissa Sharon of FirstRate Property Management (1,200 doors in Boise, Idaho) to break down the real pros and cons of running in-house maintenance. Melissa shares how her team structured a separate maintenance division, why quality control and response time improved, and how it became a profitable arm of their business. They also dive into strategic planning retreats, taking a leadership team to Mexico after hitting growth goals, buying a company from the previous owner through an SBA loan, and what it looks like to run a 28-person company with your spouse. If you're debating bringing maintenance in-house, planning your next growth phase, or thinking about long-term ownership, this episode offers practical insight from someone who's done it. 1st Rate Property Management Upkeep Media: Get a free property management lead gen analysis Property Manager Websites - the highest performing property management website in the industry Venderoo- An always-on AI teammate to handle all aspects of maintenance Lead Simple - manage more doors with less stress using LeadSimple Rentvine - the property management software you can trust   Lending One - real estate loans for investors   Reconcile Daily - corporate & trust accounting experts   PMbuild - Marc's education for property managers   Denver Property Management - Grace Property Management website This podcast is produced by Two Brothers Creative.

In this episode, David Millili and Steve Carran sit down with Greg Sukornyk, CEO and co-founder of Oli Labs, to explore how AI is transforming hotel sales, customer service, and revenue management.Greg shares his journey from law to entrepreneurship, building startups like Extreme Network, and now leading Oli Labs to innovate AI-driven sales solutions for hotels. Learn how AI sales agents like Ollie are helping properties respond faster to leads, prioritize high-value opportunities, and increase conversions—all while keeping hotel teams happier and more efficient.In this episode, we cover:The story of Extreme Network, the UK's first free internet service providerHow Oli Labs is revolutionizing AI-driven hotel sales and customer serviceReal results: increasing qualified leads by 2.5x and boosting conversion ratesHow AI and humans can work together seamlessly to enhance revenueWatch the FULL EPISODE on YouTube: https://youtu.be/JaU-9Jwudms Links:Gregory on LinkedIn: https://www.linkedin.com/in/gregorysukornyk/Oli Labs: https://www.olilabs.ai/For full show notes head to: https://themodernhotelier.com/episode/253Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

In this episode, Jake and Gino welcome investor Axel Ragnarsson for an in-depth conversation on building and sustaining success in real estate. Axel reflects on his path from small entrepreneurial ventures to owning multifamily properties, underscoring the importance of long-term thinking, disciplined execution, and surrounding yourself with the right people. The discussion covers market shifts, operational efficiency, financing approaches, and how technology is reshaping property management. Axel also shares practical lessons on overcoming today's market challenges, offering actionable guidance for investors at every stage of their journey. Chapters: 00:00 Introduction  01:05 The Shift in Real Estate Investing 03:08 Axel's Journey into Real Estate 05:12 Transitioning from Flipping to Long-Term Investing 09:52 Understanding Deal Criteria and Value-Add Opportunities 13:37 Financing Strategies for Multifamily Properties 18:47 Operational Excellence in Property Management 26:21 The Importance of Exit Strategies 28:56 Challenges in Real Estate Investing 31:01 Wrap-Up and Key Takeaways 55:02 Logo-animation-JG-New Intro-Sanddunes.mp4     We're here to help create real estate entrepreneurs... About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of the podcast, we interview investor and nurse Miranda Widmeyer about her first ADU (Accessory Dwelling Unit) project in California—turning a used tiny home on wheels into a fully permitted, high-cash-flow rental. Miranda shares how she intentionally bought a property with space for an ADU, used a rent-by-the-room strategy in the main house to cover her mortgage, and then found a $40,000 tiny home on Facebook Marketplace, negotiating creative seller financing to avoid overleveraging.She walks through the realities of being the first person in her city to convert a tiny home into an ADU, including months of back-and-forth with the city, the manufacturer, and engineers to satisfy code, secure plans, and work through Insignia and permitting challenges.Miranda breaks down her actual numbers—including utilities and concrete —and her target rental income, which comes in under budget and beats the 2% rule. She also discusses funding the project with a HELOC and extra hospital shifts, the power of problem-solving and not taking “no” for an answer, and how the WIIRE Community helped her lead her team and push the project across the finish line.  Resources:Get in touch with Miranda WidmeyerGet all the deets on Miranda's Scrubs2Success Community Simplify how you manage your rentals with TurboTenantGet in touch with Envy Investment GroupMake sure your name is on the list to secure your spot in The WIIRE Community Leave us a review on Apple PodcastsLeave us a review on SpotifyJoin our private Facebook CommunityConnect with us on Instagram

When your corporate job feels "secure" until it suddenly isn't, real estate can become the Plan B that turns into your best move…  In this episode of the #DoorGrowShow, DoorGrow founder Jason Hull sits down with John Casmon (multifamily syndicator, host of Multifamily Insights, and co-creator of the Midwest Real Estate Networking Summit) to break down how corporate professionals can transition into multifamily investing without becoming a stressed-out landlord. They dive into how John went from corporate bankruptcies to building a multifamily portfolio, what passive investors actually need to know before putting money into a deal, and why trust + clear expectations matter just as much as the numbers.  Jason and John also unpack what this means for property managers: how to align with investor goals, why the best operators project calm control (even in chaos), where syndicators hang out, and how PMs can position themselves to win more multifamily doors.    You'll Learn (00:00) Transforming Property Management: An Introduction  (00:59) John Casmon's Entrepreneurial Journey  (02:56) Transitioning to Multifamily Investing  (04:33) Understanding Investor Types and Property Management  (05:48) The Role of Property Managers  (07:49) Investor Control vs. Trust in Management  (09:33) Challenges in Property Management  (11:17) Aligning Goals with Property Managers  (14:19) The Real Product of Property Management  (17:14) Managing Investor Expectations  (19:50) Syndication: A New Avenue for Property Managers  (23:44) Legal Considerations in Syndication  (26:41) Calmness in Chaos: The Key to Success  (31:40) Partnering with Syndications  (33:54 The Role of Property Management in Syndication  (38:29) Finding Syndicators and Building Relationships  (42:24) Understanding Passive Investment in Syndication  (47:45) Identifying Your Investment Goals  (51:54) Assessing Risk in Real Estate Investments  (55:15) Choosing the Right Market for Investment  (01:00:12) The Three C's of Raising Capital Quotables "The first C is confidence. Confidence comes from preparation." "The investment itself, we got to go out there and execute. But that investor psyche is a completely different game."  "It is not your job to hope. Your job is to analyze the information in front of you and make an informed decision." Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive Transcript Jason Hull (00:01) All right, five, four, three, two, one. All right, I'm Jason Hull, the founder and CEO of DoorGrow, the world's leading and most comprehensive coaching and consulting firm for long-term residential property management entrepreneurs. And for over a decade and a half, we have brought innovative strategies and optimization to the property management industry. 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. Now let's get into the show. So my guest today, I'm hanging out here with John Casman, a multifamily syndicator, host of the multifamily insights podcast and the co-creator of the Midwest real estate networking summit. And in today's episode, John's going to break down how corporate professionals can transition.   into multifamily investing, how to find the best markets, how to raise capital effectively, and what separates successful operators from everyone else. John, welcome to the DoorGrowth Show.   John Casmon (01:10) Yeah, Jason, thank you for having me. I'm really excited to be here. Love the intro, your intro, not my intro, ⁓ but excited to be here and share as much as we can on our journey to help all of your listeners reach their goals.   Jason Hull (01:22) Cool. So John, ⁓ it's great to have you. I would love for people to hear about your entrepreneurial journey. How did you get to where you are now? And then we can get into your business.   John Casmon (01:34) Well, the short answer is bankruptcy, right? I worked for a couple of different companies that went through bankruptcy and that really made me consider my other options. You know, I was at General Motors back in 2007, 2008, 2009 when we went through bankruptcy and I was there and I watched what that did to a lot of my peers. I one day in particular when we were going to have a lot of layoffs, I went to work as late as I could. But when I got there, I had a red message, a little red dial on your phone.   for anybody who's worked in corporate and remember voicemails. So I had a red dot on my phone, picked it up, pushed the play button and my heart skipped a beat because I thought maybe I was getting to the can, right? And it was actually a colleague of mine who sat kind of kitty corner in front of me and he had been let go. He, you know, was diabetic. He didn't know I was going to pay for his medication. He just was venting in his voicemail. And I just remember feeling empathy for him, but also   a sense of I just never wanted to be in that situation. So it made me really start to think about Plan B. Eventually I moved to Chicago, realized real estate was going to be that path and learned everything I could about investing. So it kind of took me down that pathway to say, you know what, I need a Plan B because no matter what you do, when you work in corporate America, you do not control your future. You know, there's politics, there's policy, there's a lot of different things involved that you do not control.   And sometimes it does just come down to someone not liking you for whatever reason, or they think you're a threat. And I didn't want to spend the rest of my career navigating those issues. So I figured I had to take more into my own hands.   Jason Hull (03:16) got it. And so you start taking things in your own hands and what was the result?   John Casmon (03:20) Yes. So we landed on multifamily investing, started with small multifamily. My first investment was a two unit building. We house hacked it, which is a common popular phrase now. But back then it wasn't quite as common. But we lived upstairs. We rented out the first floor unit and it worked great. You know, it worked so great that we went to refinance and we had created enough equity in that first investment to pull out a six figure line of credit and go out and buy another property. So.   Jason Hull (03:45) Nice.   John Casmon (03:47) That really got the ball rolling. bought a three unit building, we bought an eight unit building, and at this time I'm still working in advertising, still working in corporate America, and I enjoyed what I was doing, and I just had my second child, but the agency I was working for also went through bankruptcy right at this time. We had expanded, we were growing, and we had kind of combined with a few other agencies and kind of became this little conglomerate, and it just eroded just as quickly as it grew.   I remember again, just sitting there and I've got some real estate. I've got a little bit of cashflow, but not enough to pay all my bills. New baby. And I just realized this real estate thing is working, but the exact strategy I'm employing doesn't allow me to insulate myself from these economic changes and shifts. So I had to change my strategy and that led me to syndication. Since then, we've acquired over $150 million worth of apartments.   We've partnered with busy professionals to buy these properties and give them some passive income. And that's what we've been doing ever since.   Jason Hull (04:50) Got it. So your area of genius really is helping these people that were similar to you, they're in the corporate environment transition into being an investor in real estate.   John Casmon (05:01) Yeah, exactly. And I would say too, it doesn't have to be you're going to quit your job and do this full time. And in fact, most people don't, you know, but most people do want a little bit more control over their life. You want a little bit more flexibility. You want to earn and start building up, you know, your net worth. You want to have a little bit more liquidity. You have to look at your investments to say, what should you be doing? I think most people know that their 401k, their, you know, company issued life insurance.   probably not enough to really get you on the fast track to retirement. So what else could you do? Certainly you can invest in the stock market. Lots of folks do that. But real estate is a proven vehicle. The challenge is, I don't know anyone who really wants to be a landlord, right? ⁓ Certainly you want the benefits of real estate investing, but very few of us want to get those 2 a.m. phone calls. So the shortcut there is, ⁓ hire a property manager. Great solution. But now you have to be able to manage   property managers, right, which is this whole other business. And if you don't have enough scale, then it's hard to get that person really focused on your business. So we offer an alternative, right? You get all the benefits of real estate investing, all the ownership perks without any of the headaches of being the landlord yourself. So it really is a great marriage of being in real estate without having to do the heavy lifting yourself.   Jason Hull (06:15) Okay.   Okay, so ⁓ the target audience of this show are property managers. So if they're not gonna use property managers, then what's the alternative? How does this work?   John Casmon (06:29) Well,   first of all, what we do is not always for that individual. So I think that's the key, right? You've got to understand who you are from a psychological standpoint. So when it comes to investors, there's two types of investors. One wants control, right? They're not willing to be passive. And some people think they want to be passive until they're in a passive situation and then they're calling and they want to know why you did this and why you did that and how come you did do that. That's not a passive investor. And that's fun.   Jason Hull (06:45) Yeah.   Yeah, they're anxious. Yeah. Yeah.   John Casmon (06:58) And   if that's you, you should be active, right? And you should work with a property manager, but you also want to work with the property manager who is going to be right for you, right? Because sometimes that is not how they operate. So you want to understand that. And that's a process to understand who you are as an investor, what kind of investment strategy fits you and what's going to be right there. When it comes to property managers, though, I think there are a couple of things. And as a matter of fact, we just left out of meeting with   property management company yesterday. They have 2000 units. We talked about some other services that we offer. And one of things that stood out to me was just understanding some of the challenges that property managers face. And one of them is property managers are really in a position to think like everyone. They're supposed to think like an investor. They're supposed to understand maintenance and kind of the construction arm enough to understand what needs to happen at a property. But they are really little CEOs, right? Because for   Our stuff, the large apartment stuff, those are typically million dollar annual revenue businesses. And this person is in charge of that asset of that business. They are making the day to day decisions. They are the face for the residents, aka the customers of that business. They are the face and their experience with that individual is how they view that business. So it really is an important role. And if you're working with property managers, it's really important to understand how to find the right people.   to connect with them and have them represent your business, your brand, company in the right light.   Jason Hull (08:30) So now you left an open loop that I want to close. So you said there's two types of investors, those that want control and maybe should go find a property manager, you said. And then what's the other type?   John Casmon (08:34) Yeah.   The other type is those who don't want control and they trust someone else to handle that. And for them, there are a couple of different ways of investing. One is investing passively with a group like ours. The other is turnkey investing where again, you hire a property manager, but you really entrust them to manage the property. The only thing I would say for either one of those groups, myself included, is you want to trust but verify. Okay. You've got to do a lot of your due diligence upfront. You want to understand how they operate. You want to talk to   some of their other clients, some of their other investors, because you need to get a really good sense of what to expect. And a lot of people are great at selling themselves upfront, right? I can tell you everything you want to hear upfront. You want to know what is it like once you sign the paperwork? How often are we going to talk? How frequently am I going to get updates? And at what point am I able to weigh in and make decisions? Because if, if you are someone who wants to be more active or be heard, or you've got thoughts and opinions,   Jason Hull (09:18) yeah.   John Casmon (09:35) You want to make sure you have a voice in your investment. Otherwise you may get really disappointed or you may bring on someone who has a different perspective of what that relationship looks like and that never is going to work out.   Jason Hull (09:47) Yeah, there's a big challenge in the industry and that's that most property management companies suck. so most investors that have dealt with property management to some degree are they have some scar tissue, they've been burned a little bit. They've a lot of property managers that started their businesses that come to me for help to grow their business. They started because they were investor and they couldn't find anyone else to manage the property good enough. And that's why they started their business, but it can be a difficult business to run. so none of them start their business saying, I want to suck.   But that's kind of the default unless they get some really good support or figure some things out through a lot of trial and error. And so that's where DoorGrow comes in. We help them with that. But one of the things I coach my clients on a lot is that they need to shift into being daddy over these rental properties. They need to like tell the owner, hey, you need to trust me. And they need to be able to have a really effective business so that they can lean into that trust.   because a lot of people are anxious. They'll come to them with concerns, but generally if a property manager is good, they're much better at this investing stuff than most investors. And they're much better at coordinating maintenance. They're much better at handling leasing. And so when an owner tries to micromanage a property manager, it kind of doesn't make sense to hire somebody to manage your asset just so you can manage them to do the job. And so I think the secret is finding a really good property manager that you can   let go of control because you can trust them. And but yes, you need to verify that they can do the job that you need them to do. And so a good property manager will take ownership of it and they'll take control and they will, they'll display a lot of certainty and confidence in how they communicate and they won't allow you to micromanage them is what I've seen. So.   John Casmon (11:37) Yeah, Jason, and I'll add to it. There's a two way street there. And I think it's easy for people to say, ⁓ most property managers suck or they're not good or whatever. And listen, there's certainly a lot of challenges there. A lot of folks who are not living up to par to the standards. But I will go back to this. We ask property managers to do the work of generally like a CEO. Right. I mean, again, they're managing million dollar businesses in many cases, yet they don't have that training. They don't have that experience. They don't have the ability to navigate.   all of these various things. So part of what owners and investors need to also understand is that you play the role of asset manager. And that means giving clear direction of what success looks like so that that property manager has a framework to make decisions. It's not to micromanage those decisions, but to help them understand how their decisions impact the greater good. And part of that is like, again, just sitting down with annual goals. What are revenue goals? What are our goals on?   Occupancy, what are our goals on in a lot? And this may seem simple, but I promise you a lot of folks don't do this. And if you don't do that, then that property manager is going to default to, for instance, I'll give you a great example. I've got a property manager. She's awesome rock star. But she always gets nervous when occupancy is not at like 96 or 97 percent of this property. So she is, you she starts apologizing profusely and all I did this or done that and like.   Jason Hull (12:58) Yeah.   John Casmon (13:04) Occupancy is one of our KPIs for sure. It's important, but that is not the KPI. I am focused on my net operating income. And if we're going to push rents, the impact of that is you're going to have higher vacancy and she is not comfortable with that. And that's probably because she's used to working with owners who want that thing fully rented and they are comfortable having 100 % occupancy.   Jason Hull (13:13) Yeah.   Hmm.   Yeah.   John Casmon (13:33) if they're leaving 50 bucks, 75 bucks, whatever it is of rent on the table. And that's the part where you've got to really align with your vision versus their vision, because what they have in the back of their mind may not completely align with what you have. Or they have residents in their face who are coming into the office. They want something fixed. They want it done quickly. They want it done right. They want it done yesterday.   Jason Hull (13:49) Right.   .   John Casmon (13:59) So they've got that pressure of this person in their face. So they may go out there and spend the money or authorize the money to get spent. And maybe they're not picking the most cost effective measure. So you have that. And I'll give you one third one. A lot of times when you run into the flip side of that is maybe occupancy is low. They say, hey, we need to increase our marketing spend, right? We got to increase our marketing budget. know, ox is down to 88 or 90%. We got to spend more money. And we're not necessarily.   really zeroing in on what the specific issue or challenge is at that property. So for an owner, your job as an asset manager is to partner with them and to help them see what the options are, help them work through with some of those challenges and solutions are and partner with them to find success. It's not to micromanage them and tell them what to do, but it's really to understand the situation better and give them that perspective.   Jason Hull (14:49) Yeah, that makes a lot of sense. think, you know, one of the things I've seen is that I've noticed a lot of property managers, they make the mistake of thinking that the goal or the product that people want to buy from them is property management. But investors don't wake up in the morning and go, man, I'm so excited to get property management today. The thing that they want. And so the way I describe it to them as they say, property management is like the flight to Hawaii. It's not Hawaii.   and you're trying to sell the flight. That's not the exciting part. You need to figure out what the investor wants, what their goal is. Where do they want to go? What's Hawaii for them, right? What's paradise? And then how do we optimize for that? And how do we help them create a path for that? Because the actual product that a property manager is selling is not what they do. It's not property management. The actual product is them. It's them and their values and their belief system and how they create trust and the team they build and the system and mechanism they build around them.   That's the actual product the property manager is selling. so a lot of property managers make that mistake. They sit there and talk to you about maintenance coordination and leasing and inspections. And meanwhile, you're just wondering as an investor, can I even trust this person? Like do our values align? Yeah. So I don't know what your thoughts are on that, but.   John Casmon (16:11) I think you're spot on, right? Because, I mean, ultimately, as an investor, you are only as good as the team you can build. And that property manager is in charge of the day-to-day aspects of the business. especially when you, you know, I've heard horror stories of folks who have done like turnkey investing, right? Where the property manager, someone owns it, they buy it, they fix it up, and then they rent it back to...   an investor. And I've heard horror stories where that property was not being well managed. And that's the fear. If you're not in that marketing, you can't come and see it. So if you got an out of town investor, you really are trusting that property manager. So that is the most important thing, right? Everything else are tactical, daily situational things that can change. But it comes down to do I have the right people, people that I can trust, people who are going to make the right decision based on the information they have.   because they may not know what I know or maybe something shifted and changed where they would have made a different decision. We can't, you know, ache on that. It really comes down to are they doing their best? Are they making good decisions? If they're not making good decisions, is it because they didn't have the correct information, which again, could fall back on you as the investor to say, hey, are they aware of what your goals are? Are they aware of maybe this situation, these tools, these resources, whatever it is? And that's on you to sit and collaborate.   But trust is absolutely paramount because at end of the day, the thing that I think most of us are concerned with is who we partner with. And there's a great book I'm reading right now. And it gets into decision making and the fear of decision making for most of us and why deals stall. Why didn't you hire somebody? Why didn't you, you know, go with the vendor or go with the contractor or with the company? And the biggest thing is we are scared of making the wrong choice. All of us in decision and no action.   Jason Hull (17:43) Absolutely.   John Casmon (18:04) is better than the wrong action for many people because they once they take action. Well, now they're blaming themselves because you didn't pick the right person. Why did you hire that guy? You should have like now this starts to go on in their head versus doing nothing. Well, at least it's you know, it's not going to get worse, you know, it will in lot of cases get worse. So for a lot of people, that is the scariest thing. So if you can take that fear off the table as far as being the right person or being someone who is trustworthy.   Jason Hull (18:07) Right, yeah.   John Casmon (18:32) everything else gets easier. So if you can do that, that's, you know, the best thing you can do as an investor or as a property manager.   Jason Hull (18:38) Yeah, I agree. think one of things that I talk about a lot is that clarity has to come before action because if you don't have clarity and you start taking a bunch of action, doing stuff, every action you take is a little bit wrong. Sometimes it's a lot wrong. so, yeah, we need to get that clarity first before we start ⁓ making moves. And you talked about, I love the example of your property manager that is trying to   optimize maybe for the wrong thing. They're like, want to optimize to the, making sure their vacancy is super low. But that might not be the goal. That's not the primary goal. The goal is money, you know, and there's a really good book is by Elihu Goldratt. It's a good book for operations people, but it's called The Goal. And spoiler alert, the guy's trying to figure out the goal through this whole book, the story and it's money. That's the secret. The goal is the of the business, should be making making money.   And what happens in this book is that people are over optimizing individual pieces in this flow at this warehouse. And it's actually not helping to make money. It's causing more constraint. And so if we over optimize at one stage, it actually creates waste, bloat, inventory, additional work for the next stage. And so sometimes the best thing certain departments can do is slow down and do less in order to get the outcome to be maximized outcome.   And there's some really great examples in that that I think are really powerful. But I think the if you're optimizing for the wrong thing, then you're not making it effective. So you want to make sure you're optimizing for the right thing. Otherwise. ensues. You get mad at somebody, but nobody understood what the goal was. And so I think, yeah, getting a greed upon set of criteria of what what the outcome is and asking the property manager, can you help me achieve this?   And they know, they know if they know what the problem is, usually they can, they know how to help you get whatever goal that you have. And they know whether your goal is probably realistic or not, because they've helped probably a lot of people do this similarly. And so, but yeah, I think it's very important. Make sure you know, where's Hawaii and maybe property management is the vehicle. Now you had mentioned like, I'm really curious about this idea of, you know, maybe creating syndications.   Some property managers are now starting to think, maybe I should create a syndication. What's your criteria for, what's a good syndication and what are some of the, I'd be really curious to get into if some of the property managers listening were wanting to do kind of a little bit of what you do, how they might be able to get started in that. Like what are the beginning steps to make sure they don't make the mistakes you probably already figured out in the beginning?   John Casmon (21:27) Well, I think the first thing is, you really want to get into it? Right. Because for a lot of people, you got to understand it's a different business. Now you're not talking about real estate investing. You're not talking about property management. You're really talking more about, you know, investment management. You're talking about bringing on private investors who are looking for a return. That is communication skills. That's building up a network and a database of   Jason Hull (21:35) Mm-hmm.   Right, returns.   John Casmon (21:54) prospective investors, it's understanding the return projections that they're looking for. And it's really kind of managing the investor expectations, not necessarily the investment. And to give you a great example here, I had a deal where the investment went great, but it was slightly lower than what we initially projected. And I had an investor who was upset.   Jason Hull (22:07) Yeah.   Yeah.   John Casmon (22:23) about that. And we had communicated all throughout the entire process where things sat and he wasn't too upset, but he still made it a point to let me know, hey, well, this is less than what you initially thought. And that's challenging because the market shifts, right? Anybody who's bought properties in 2022 and beyond knows the market has shifted drastically over the last three or four years. So those projections made in a 2021-22 environment   Have a hard time standing up in a 25 26 environment We still make good money on that deals double-digit returns for investors ⁓ But you know there was that that was that feedback I got from one of the investors conversely We just exited deal a couple months ago, and we completely exceeded our return projections You know we delivered on a almost a 2.7 equity multiple Hit all you know mid 20s on the IRR completely unheard of stuff in this environment   And I have one investor call me and say, hey, John, I just checked my account. Is this right? And I'm like, yeah, it's it's right, man. He's like, my gosh, you guys killed it, man. my. Like, this is amazing. And it's great to hear. But again, that is separate from the investment. Right. Happy to manage the investor expectations and concerns. But that was an up and down investment where we had, you know, a moment where we actually had to put some of our general partner capital into the deal to keep it going.   Jason Hull (23:27) Yeah.   Yeah.   John Casmon (23:48) We have floating rate debt. had to refinance out of that. And we had to kind of rush to do that before rates started to go crazy. We had moments where our construction or renovation costs were much higher than we anticipated. So there are a lot of things that we had to navigate. And I think what happens for a lot of operators, a lot of people who get into syndication, they know the real estate and want to do the real estate, but they do not understand the perspective of the investor. And when you don't communicate to investors on a frequent basis and a clear, transparent nature,   Jason Hull (24:19) Yeah. Yeah.   John Casmon (24:19) They fill in the blanks and   the first concern every investor has and they won't say it. Most of time they don't say it, but I promise you they're thinking it after they make that investment. my gosh, did I make a mistake? Am I going to lose money? Is this person going to run off? Is this going to be some sort of fraudulent thing? Is this deal going to fail? These are all that we're wired like that. This is caveman stuff, right? We're wired to protect ourselves.   Jason Hull (24:36) Hmm.   Right.   John Casmon (24:45) And when you make an investment, and by the way, our investments are typically $50,000 and up, right? So these are not small investments. So when you make that investment, people start to second guess that decision. So my job when it comes to this side of the business is to keep them grounded that, hey, you've done your research, you've made an informed decision, you've picked a good partner, we've done this before. ⁓   Jason Hull (24:50) Yeah. Right.   John Casmon (25:13) And it's really to make sure that they feel comfortable with that decision. It has nothing to do with the investment, right? The investment itself, we got to go out there and execute. But that investor psyche is a completely different game. So first thing I would tell any of your property managers when they get into this business is understand, do you actually like people? Do you want to manage investors? Are you comfortable managing people's money? ⁓ And then beyond that, you have to do it the legal way. There are a lot of regulations around accepting capital from other people.   Jason Hull (25:31) you   John Casmon (25:42) So you can do it as a joint venture. The more common way of doing it, the more accepted way of doing this is by doing a formal syndication, which requires you to file SEC documentations. ⁓ know, there's regulation D and regulation A and there's some couple others, but typically it's going to be reg D 506 B or 506 C filing, which basically is the the structure that allows you to offer ⁓ passive investment opportunity or a security to investors. So again, for some people,   It's overwhelming. they're like, nope, never mind. But for some people, they love it. They want to get into it and they can learn more about that process.   Jason Hull (26:19) Got it. Yeah. I think I love your idea that it's more about managing expectations rather than the investments. And I think, I think that's good advice for all the property managers listing. This is something we spend a lot of time coaching clients on because they think their job is to manage properties. But really, if they're not strong in managing expectations and managing the relationship, it's 10 times to 100 times harder to manage the properties.   their operational costs go through the roof because owners are getting anxious. They're asking more questions. They're getting all these interruptions and calls, tenants, owners constantly. And if they had just managed the relationship and expectations and set strong boundaries at the outset, everybody would feel calmer. And I think really for business owners, I think the thing that really stood out to me that I've been focused on, and this is I've done some personal coaching and this is just nervous system regulation.   If you can, and John, seem like you're pretty chill and pretty calm and I'm sure the investor feel safe with you, which is why you've had success. If you are a person that is anxious and you're running around like a chicken with your head cut off, you're going to have, you're going to struggle in leading anybody, especially in relationships to your spouse and like everybody else. so having a calm, regulated nervous system allows your investors.   to entrain to your nervous system and to feel safer and to calm down. And that's not something you can pretend or you can just fake. You have to be that and they can sense and they can feel that it'll come across in your tone and in your body language and how you communicate. But if you can make sure that you're in that space and that you're able to regulate your own system, you're able to stay calm when other people are coming at you.   and other people are angry and other people are emotionally heightened. And you recognize this isn't really you. It's just that's them. And you can maintain that calm. You will be able to create a lot more safety. And that's really what people want to buy. Most people out there, their primary basic need is safety and security. Most people. That's why they aren't entrepreneurs. That's why they don't go start jobs. That's why they aren't like you and me. And if you're a property management business owner listening to this,   Most people are not like you. They want safety and security. That's why they get a property manager. They want peace of mind. And so, and I'm sure investors in a syndication, they also want some peace of mind because this is a big chunk of change.   John Casmon (28:55) They do. And I will say to most of the property managers I come across thrive in chaos. Right. They're used to stuff getting thrown at them. Right. And when you talk to them and get to know them, you learn very quickly. They like it. They do. They like the fact that they don't know what the day is going to bring. It could be a. Yeah, yeah. Could be a tenant coming with some crazy issue. It could be something from it's never boring and they thrive in it. However.   Jason Hull (29:00) Yeah.   Yeah.   They like the variety and unique challenges that property management brings, for sure.   It's never boring.   John Casmon (29:25) What happens then if you if they're going to look to work with investors and particularly raise capital and kind of do their own syndications, they have to understand that while they may thrive in chaos and uncertainty, most other people want organization. You want everything you said right. You want to have the calmness. You are looking for a captain to steer the ship. And for that part of the personality, they're going to have to tap into a different side of it to demonstrate how they handle chaos.   Jason Hull (29:37) Hmm.   Yeah.   Yeah.   John Casmon (29:54) not that they are chaotic. And I think what happens a lot of times when you're working with property managers is that they don't project that level of control. It just feels like they're reacting. So part of it is that, and they're really, really good ones. The ones who make it to that next level who are the regional managers and get those promotions, well, that's what they do. They manage the chaos and they manage up. They do a great job of telling the owners,   Jason Hull (30:06) Yeah.   Mm.   John Casmon (30:23) the leadership, whoever they need to talk to, they're telling them, hey, here's how here's our process. Here's how we're managing the situation. Here's what's going on. Here's what we're into. Hey, we had a water main burst here. Here's we bought. call three companies. We've got three quotes, but it's calm, right? It can be the worst. I'll give you a real example, right? At a fire, one of my properties and I was going to meet a property manager and I just happened to have a meeting with her that day at the property. She called me.   I was literally about to get in the car. She called me and said, Hey, I just want to let you know we've got a fire going on at the property. I'm not sure if you still want to meet. You're happy to come. We already have, you know, the fire department's here. They're they're putting the fire out right now. We already have another company that's coming in. They're going to walk through the damages once this is kind of settled. And I've already talked to the residents. Residents are good. We've got them hotels for the evening. We've checked with insurance. This is covered in your policy. So they're good to go. So you're happy to come down and talk and all of that if you want to.   Or we can let things settle down and maybe we can meet next week. This is a fire, right? This is like a scary situation. She called me.   Jason Hull (31:26) Right. A literal fire. Yeah. And there's plenty of fires   in managing properties. The literal ones.   John Casmon (31:33) Her calmness, she was so calm. Not only was   she calm, she had handled 90 % of it, right? It was the stuff you could handle in the moment. She handled it. So was like, hey, I don't think it makes sense for me to because I'm probably just going to add more anxiety to the situation at this point, right? It seems like you've got it under control. Why don't we let things settle, literally let the dust settle? And then once it's there, I'll come down. We can assess the damages, figure out what else needs to happen, what other next steps need to take place, right?   Jason Hull (31:41) Yeah? huh.   question. Yeah.   John Casmon (32:03) but had it handled like a rock star. Now, a lot of other folks would have saw the flames, called immediately, my God, there's a fire. ⁓ my God, what are we gonna do? So now you freaking out, everyone's freaking out, no one's controlling the situation, right? So now everyone's mind is just spinning and going. it does really take, kind of go back to where we started the conversation, that mindset of someone who was the boss, who was leading.   Jason Hull (32:05) Yeah, I love that.   Yeah. Freaking out. Yeah.   Hmm. Yeah.   John Casmon (32:32) who is going to take charge, even though it's not their property, they're going to take charge. Here's what needs to happen next. Maybe you have an emergency response plan already put in place, but you have these things already scheduled and ready to go. So when they happen, you're not shocked. You're not surprised. You're not asking questions that maybe you should have figured out upfront. And that's what a great property manager does. And if you convey that to owners, you're going to stand out above and beyond your competition because most people cannot convey that level of control, the level of   planning and the level of expertise that it takes to truly and effectively manage properties from the front, being proactive as opposed to just reacting to whatever the issue of the day is.   Jason Hull (33:13) Got it, okay. So ⁓ I'm reading, I just read, well, I didn't just read. I read in the past a really great book called Extreme Ownership. Really good book. Yeah, phenomenal book. ⁓ I'm going through their newer book, which I think is even better, called The Dichotomy of Leadership. leadership is what we're talking about right now, is that that,   John Casmon (33:23) Yeah, I think I got it like right here. It is right there.   Absolutely.   Jason Hull (33:38) creates a huge impact and there's a lot of misunderstandings of what leadership is, like it's control or it's being aggressive or, but yeah, it's really that calm presence of letting people know I've got it. Like we can take care of this. We've got a plan and staying regulated and calm. So I love that. ⁓ have a, so another question I have is how can the property managers listen to this? How could they maybe target or partner   with, if possible, syndications like you, like people that are doing what you're doing. Is there a chance that they could be a resource or do most syndications just in-house and do, they are a property management business?   John Casmon (34:19) No, no, most ⁓ most that I know work with third party manager companies. So I would say first and foremost, if you and syndications, I mean, it sounds like a big, huge, fancy word. But I mean, honestly, anytime you work with passive investors is technically a syndication. So it really comes down to figuring out who is looking for third party management and whether or not it's technically a syndication or not is really irrelevant. You want someone who is going to be managing or owning the property.   Jason Hull (34:24) Okay.   Yeah.   John Casmon (34:49) They want third party, but you have to understand their plan, going back to understanding the goals, right? Most syndications are looking to sell in a three to seven year timeframe, typically five to seven years. Most buy and hold owners have not decided or have not identified their exit strategy. So that's probably the biggest difference is when you have, let's just call it an individual investor or maybe it's a   Jason Hull (35:01) Okay.   Right.   John Casmon (35:17) a family or whatever that's buying and they want a third party manager, they don't know the exit. They haven't predetermined that they're going to sell in five years. So they are buying and holding it. And that goes back to the the I think the separation of understanding the objective, because for that person, having a full property is great. It means they're maximizing the revenue potential today. When you are syndicating.   most syndicators already assume 5 % vacancy. That's that's in everyone's underwriting. So you being at 100, they won't even give you credit banks don't even give you credit for it. So all of these things are already assumed. So for us to be above that is actually a miss, because it means we're not being as aggressive on the rent. So just understanding the mindset of a syndicator, which is they are looking to sell typically they're looking to double their money over a five or six year period. So how can you create value?   And that's something most property managers don't fully understand. But I would sit and I would talk to that syndicator. And if you want to be a syndicator or partners, not just be a third party vendor, but you actually want a partner, which we have seen a lot of folks look to do. You want to figure out how you can bring value to the table, because now we are aligning your interest with that syndicators interest. And now you've got a great partnership.   because every syndicator is going to need property management and they're going to need construction management to drive value. So if they can bring those people in as partners, that's a great opportunity for you. And if you're a property manager, you may have phenomenal relationships. You may already have contractor or the vendor partners that you trust in that marketplace. And if you could then take that and get a slice of the equity, that makes you very valuable for both sides.   Jason Hull (37:08) Do syndications, do they also need investors in capital or do most of them have that, are they really good at that? Okay.   John Casmon (37:15) Absolutely. Yeah. Yeah. Yeah.   mean, I mean, syndication at its core really just comes down to the need of capital. If someone had the capital themselves, they would probably just buy it directly and not go through the process of syndication. Because the syndication is literally just raising the money from passive investors. And in that scenario, again, being able to manage that, manage the communication, ⁓ that's really what a syndication truly is.   Jason Hull (37:42) So a really good property management partner could bring property management, some of the construction elements and investors and capital to the table. So it could be a nice little.   John Casmon (37:51) That would be amazing.   I'll be honest, man. That's because I don't want your listeners sitting here like, oh, I don't have one of those. I don't know if I've ever met one that had all of those. If you do have all of them, yes, you should consider syndicating yourself because you got all the pieces to the puzzle. Typically, what happens is a property manager has the property managers. I'll give you a great example. I got a 54 unit down in North Carolina. OK, so I came in as a key principal. I've got a.   Jason Hull (38:03) Okay.   Okay.   John Casmon (38:20) to my coaching clients. It's his property that he found. He asked me to come help him with the loan, which I did. One of the members, one of the partners is the property manager. So that's kind of their role to the table is they're managing the property. That's what they kind of came on. They had a couple of relationships, but their main role is the asset and property management side of it. So that's a great way to come to the table. But. Just like anything else in business.   Jason Hull (38:33) Mm-hmm.   John Casmon (38:49) It's very hard to find someone who checks every single box. I mean, that's like finding the marketer who's a CMO, who's also the CFO, who's also the COO, who's also the chief of human resource. very like no one, people don't really have like top notch excellent skills at every single one of those, right? Like you might be great at business, great at sales, great at marketing. You're probably terrible at finance, right? Like you just, you just forget to do your expense report type person, right? So it's hard to find someone who's   checks all those boxes. And I think typically when comes to property management, you want someone who's great with people, can resolve issues, but also has to be somewhat, you know, sufficient when it comes to the numbers, tracking all the data, tracking all the, you know, the rent roll, the leases, the income and expense statements, things like that. So usually they're not going to do every single box. But again, if you can find someone or that's where partnerships make sense.   Jason Hull (39:24) Mm-hmm.   John Casmon (39:43) If you've got that awesome. And again, I'm not saying a company doesn't have that. I'm just saying a single individual doesn't, which is why it's great to partner. If you can find someone who maybe brings a set of skills that you don't have, whether they're joining you in your property management business or they're partnering up where you're bringing your property management skills to the table with their investing or their networking skills, that makes for a good partnership.   Jason Hull (39:43) Mm-hmm.   Yeah, I got it. Well, we've got several clients, you know, all over the U S that are really good at property management. They're really good at handling the maintenance stuff and they obviously have a pool of investors as clients and, and, know, and they know that they can't do everything. So we coach them in making sure that they would do time studies. They figure out which, what their purpose is. We start to align them towards more fulfillment, more freedom, more contribution and more support in their business.   John Casmon (40:32) Yeah.   Jason Hull (40:38) And they start to build the right team. So they're getting operators, they're getting BDMs, they're getting the things they're not like strong in. And so we just make healthier businesses. So for those of maybe my clients listening that have healthy property management companies. And, but they don't want to do syndication. They're just like, man, that's a whole nother business. If I stay in my lane, I can grow that faster. How do they find syndicates? Like, how do they find people like you? Cause you've got a lot of properties connected to you.   and they would probably love to chat with somebody like you. Where do you syndicate people hang out? What's the title? Who runs a syndicate? What are they called? Do they have a specific title?   John Casmon (41:15) You   Yeah.   Yeah, great. Great question. Multifamily syndicator is is kind of the name just syndicator. We're all over. So I've got a podcast called Multifamily Insights. I interview like minded individuals. I've been doing that for a long time. We've done our seven hundred and seventy plus episode. So lots of people, lots of syndicators there. Definitely conferences. So if you look up any multifamily conference in your city.   Jason Hull (41:25) Okay.   Nice.   Okay.   John Casmon (41:46) meetups, lot of meetups in different cities as well. Those are great places to find syndicators. I think the biggest thing though is this.   Figure out who your avatar is. Because while we're talking about syndicators, ultimately, if you want to scale your property management business, I presume you're trying to scale with folks who are looking for third party management and the best option for that. OK, and let me back up. had one of the guests out of a podcast some years back, ⁓ Ashley Wilson. Love Ashley. As you said, something really changed when I thought about the business.   And she said the best way to find any vendor, any vendor is to figure out who relies on that vendor next and ask them for referral. So if you think about it, if you want a great drywall person, ask a painter. A painter is going to know who's great at drywall because they're going to know who makes their job easy and they can come in and just start painting versus a drywall guy who maybe doesn't, you know, you know.   Jason Hull (42:38) I like it.   John Casmon (42:55) mud the drywall properly or doesn't sand it down. So they got to do all this extra work before they start their process. Right. So a painter is going to know a great drywall guy. And in this case, it's really hard on ⁓ the property manager because you guys are the ones who do the work. But if you are looking for syndicators, OK, well syndicators, person who buys the deal. Well, who sells the deal? A broker. Find brokers. Go to a broker, commercial multifamily broker and ask them, hey,   Jason Hull (43:01) I love this.   Yeah.   John Casmon (43:25) Do you know some groups or you have properties that you're going to list? Here are the kind of deals we want to do now on the flip side of that. You got to be good at your job, right? You got to sell yourself and share what you do. So if you've got a great track record, a great resume, showcase that, bring that broker through and let them know, hey, we're looking to scale our property management business here. Here are the kind of assets that we want to manage. If you come across any of these that you're going to list, would you mind keeping our main name out there or referring us or giving us introductions to any of those buyers?   Jason Hull (43:53) Yeah.   John Casmon (43:54) so that we can throw our hat in the running to manage these properties. That's a phenomenal way to do that. And it allows you to shine and expand your relationships in your core networks and in your core markets.   Jason Hull (44:06) Brilliant. think I love the, I love Ashley's idea that you shared, you know, the drywall. Yeah. The painters, like they don't want to be painting over a crappy drywall. They're like, this is a mess. Like this doesn't even look good in my job. Now I'm going to look bad. Yeah. So the brokers know who maybe those best syndicators are. And so they could just go to the brokers and say, Hey, who's, who's doing deals like this? Who who's got things going on? Like who could you connect me with?   And I avoid maybe.   John Casmon (44:36) And on top of that, keep in mind, too, like what   are the times when? Yeah, but think about to like when is a property hiring or bringing on a new property manager? Right. So it's either a current owners firing the existing property manager or the property is being sold. Right. So, I mean, if you can get in during that transition phase, that's going to help you tremendously. And if even if they're firing their existing property manager, you can think through, OK, how do I?   Jason Hull (44:51) Yeah. Yeah.   John Casmon (45:06) work myself and get my name out there. And a lot of times, again, you're going to ask, right? You're going to ask other investors. If I were going through that process, I'm going to call my buddies into space, right? And say, hey, man, having a hard time, my current PM is not working out or we're not hitting our objectives, looking at some other options. Do you have any experience with these guys? What do you know about these guys? Or do you have anybody you could recommend? It's word of mouth, right? So that's what's going to start happening as well. So you kind of have to get out there and network and let folks know who you are, what you do. But you want to be someone who   people can say, yeah, these guys are amazing. You know, they, they only had an eight unit, but they crushed my eight unit for me. I'm sure they kill your 25 unit or your 50 unit. And you've got to start building that rapport and building your reputation in your market.   Jason Hull (45:44) Yeah.   Nice. This is good advice, my friend. So, cool. For those that maybe are investors listening to this show, ⁓ I'd love to hear a little bit about what you do, how you do run your syndication, and how they can ⁓ make things more passive, if that's what they're looking   John Casmon (46:08) Yeah, man. So there are lots of different ways to get in. If you are looking to be more passive, ⁓ high level, here's how it works. OK, so first and foremost, me and my team would go out. We look for the deals. We focus on a really tight radius. So we're in Cincinnati. We like Cincinnati, Columbus, Louisville, Kentucky. Really a two hour radius of the Cincinnati market is where we focus. And right now we actually think there's more opportunities locally. So we're really honed in on Cincinnati right now. But we focus on that once we find a deal.   We reach out to folks in our network. So we have folks in our investor list. ⁓ Once they're on our list, we kind of have a quick vetting process and then we can share opportunities with them. Once they see that opportunity, they get a chance to review it. We like to have a webinar where we answer any questions about the deal. I think for new investors, it's a great way to learn because we have a lot of experienced investors who ask very intelligent, thoughtful questions that   Many first time investors probably would not even think of. And that's a great way to learn, right? And ultimately when it comes to this space, it's really about education. know, it's educating yourself, understanding how you think about risk, how you mitigate risk in your investment choices. And those webinars are a great chance for you to learn about that the first time. Once you've done that, you can go ahead and fill out our official paperwork with our SEC documents.   Jason Hull (47:30) Mm-hmm.   John Casmon (47:30) And then   once you're through there, you can make the investment. But the first thing is just to get on our list, you can have access to the deals. And before you do that, we've actually put together a guide that can help people because I found that when I have these calls, people don't ask great questions. Sometimes they do. But I want to make sure that you are informed and well educated because this is a big investment. You know, this is not a 599 thing. And if it doesn't work out, OK, well, I just wasted six bucks. No.   Jason Hull (47:54) .   John Casmon (47:59) We're asking you to make a pretty large investment, whether it's with us or with others. If that's what you're looking to do, I want to make sure you're well informed. So we put together a guide. It's seven questions you must ask before investing in apartments. You can get that on our website. It's casmancapital.com slash seven questions, but it gets into questions around the market itself, the operating team, what you should be looking for, the deal. What is the story of this property? What's the business plan? And it helps you identify different levels of risk because the reality is   Anything can work, but you want to mitigate risk as much as possible, particularly when you're a passive investor, because you are basically saying, I'm trusting these people to find the right deal and execute. And you want to make sure that you are finding and identifying the right individuals who have a proven track record doing the thing that they are asking to do. When I hear about people losing money in real estate. At least 50, if not 70 % of the time.   Jason Hull (48:35) Hmm.   John Casmon (48:57) It is someone doing something for the first time. It is the first time in the market, first time doing this kind of deal, first time doing this kind of business plan. And. I can't tell you how frustrating it is because it's a big red flag, and it's not to say they can't do it and can't have success. But if it's your first time, I want to see how you're mitigating that right. You want to partner with someone who does have the experience you want. Like there are lot of things that you can do to put the odds in your favor. And when you're a passive investor.   Jason Hull (48:59) Mm, yeah.   John Casmon (49:26) It is not your job to hope. Your job is to analyze the information in front of you and make an informed decision. So this guide can help you do that.   Jason Hull (49:34) Yeah, love it. I'm going to run a quick word from our sponsor real quick. Our sponsor for this episode is Vendero. And many of you tell me that property management maintenance is probably the least enjoyable part of being a property manager and definitely the most time consuming. But what if you could cut that workload by up to 85 percent? That's exactly what Vendero has achieved. So they leverage cutting edge AI technology to handle nearly all your maintenance tasks from initiating work orders.   Troubleshooting, coordinating with vendors and reporting. This AI doesn't just automate, it becomes your ideal employee. Learning your preferences, executing tasks flawlessly and never needing a day off and never quitting. This frees you up to focus on the critical tasks that really move the needle for your business, whether that's refining operations, expanding your portfolio or even just taking a well-deserved break. Don't let maintenance drag you down. Step up your property management game with Vendero. Visit vendero.ai slash door grow today and make this the last maintenance hire you'll ever need.   All right, so John, this is super helpful. love you've got your list. ⁓ You got your webinar, you've got your guide. I would recommend property managers listening to this. If they're curious about the world of syndication, that they start getting into your stuff and seeing how an expert like you is doing this and maybe even get involved in some of the deals with you or something might be a good idea. And they can kind of get a feel for how this works. And then maybe they'll say, I don't want to do what John does.   And I'll just find people that do, but they'll at least understand how they could partner with people like that. then, or they may decide, you know what? John's clever, but I'm clever too. I might be able to figure out how to do this too. And maybe they'll do it too. And, but I think there's a solid opportunity for property managers that want to be in the multifamily space and do multifamily management to find third party people that are doing these syndication deals. They need good property managers and property managers want more doors and they want to grow.   And if you don't, because your business sucks and it's uncomfortable, then reach out to me. I'll help you out. We'll get you dialed in. But ⁓ John, what else would you say to the investors that are maybe they're familiar with this and they've done some real estate investing and they've worked with some syndications ⁓ and they get on your list to do the webinar. What would you say to them next?   John Casmon (51:56) Yeah, I think the biggest thing is understand what you're looking for. You know, I think one of the biggest challenges for investors is when you can't pull the trigger, it's typically because you haven't figured out what you're solving for. Are you looking for passive income? So you're just looking for a cash flow? Are you looking for long term wealth appreciation? Are you looking for tax benefits and to reduce kind of your tax liability? Do just want to diversify? Maybe you got feel like you have too much in a stock market, just like we put something somewhere else. So.   Figure out what you're actually solving for. Understand your risk tolerance, you know, because every deal is different. In our case, we do value add B class deals. That's a fancy way of just saying we like properties that already making money that are solid, solid tenant based. Think of when I say B class, I'm thinking of all stuff that was built maybe 30 years ago, maybe 40, maybe 20 years ago. Stuff that.   your teachers, your firefighters, your police officers, places where they might rent. So desirable locations, not luxury, not super high end, not, you know, super courts, everything. ⁓ But, you know, places that you would want your kid, your kid was in college, places you would be fine with your kid living, right? So you're thinking about that stuff. That's, you know, I don't say affordable stuff. That's not crazy price. So that's kind of what we focus on.   Jason Hull (53:15) So would   that be like, is that how you find the best markets then?   John Casmon (53:21) That's part of it. That's our strategy. There are different strategies that people utilize. I have found for us that is a sweet spot where we can take those kind of assets, modernize them and create value for potential renters. Some people like to focus only on they call it core plus right where they're buying newer stuff, stuff built five years ago or three years ago. And maybe it was, you know, leased up and they're just going to go in and hold it longer. You'll find other ways to add more money through amenities.   Jason Hull (53:35) Okay.   John Casmon (53:50) So some people do that strategy. Some people like older properties where they're buying more distressed or much older properties and are trying to fully renovate them and bring them up. There are strategies out there, something like new construction, stuff that doesn't exist. They want to build from the ground up. So it really comes down to you. Every investing strategy has a different level of risk. This has nothing to with real estate, right? This is investing in general. you're buying, you know, know, value stocks versus growth stocks versus Internet, it's the same stuff, right?   So you just have to figure out your level of risk. We like value at B-class multifamily deals. Once you understand your level of risk and balance that with your return expectations or projections, that's when you can figure out which investments actually make sense. You know, I have some folks who they like to invest in what we call trophy assets. And...   They may not know that right away, but when you send them a couple of deals and they look at the property like, ⁓ it's okay. They want something. They want something they can brag about. They want to drive you by like, see that building over there? That's me. And if that's fine, if that's what you want, understand what comes with that, right? That's going to be a lower term, right? Because these are, there's not much value to create, right? You've got a brand new property. It's A class, rents are $2,500. There's not a whole lot you can do there. And because of that,   Jason Hull (54:49) Yeah, they don't want to show that off. Look what I'm connecting.   OK, right.   Thank   Yeah.   John Casmon (55:13) There's not as much risk. So you're going to get less return because there's less risk. That's fun. Some people want to maximize their return, right? Hey, I don't need this money. I want to let it ride for 20 years. So they might want to do new construction or they might want to do a deep discount, highly distressed vacant property that needs, you know, $50,000 per unit to renovate it and turn around because the upside is there. So it just depends on that investor and your level of risk. Right. And most of us fall somewhere in the middle.   Jason Hull (55:27) Thank   John Casmon (55:43) which is kind of our strategy. figure out your level of risk tolerance, what you're looking for. And sometimes you don't know until you start looking at a Because you might think you're a cashflow person until I show you what cash flows. And you're like, oh, no, I don't want to be in that de

Kelley is based in NYC and is the President of Rose Valley Management, an institutional firm with over 10,000 apartments in their portfolio nationwide. On today's show we are talking about how market dynamics have changed with the current over-supply in many primary markets. It involves adapting to market conditions to create a more competitive offer for existing tenants. To connect with Kelley, you can find her on LinkedIn at https://www.linkedin.com/in/kelley-brine-37a4525/or visit https://www.rosevalleymanagement.com/--------------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)  

Send a text"Join Alex Rutledge and Mike "Redbone" Crase on American Roots Outdoors for an exciting conversation with Kenny Zuspan of First Class Whitetails, who's hosting an unprecedented turkey hunting competition in Ohio and West Virginia. With $50,000 on the line for first place and total payouts exceeding $120,000, this tag-team turkey hunt is changing the game for competitive hunting.Kenny shares details about the 5-day competition where teams of two hunters chase six gobblers across 36 managed farms spanning over 16,000 acres. Learn about last year's incredible success with 58 turkeys harvested in just five days, the strict video verification process, and how to secure one of the six remaining spots for this year's event.Plus: fishing reports, high school basketball rankings, and a heartfelt tribute to Danny Van Eaton. Whether you're a serious turkey hunter or just love outdoor competition, this episode is packed with valuable insights and inspiration."0:00 - Introduction & Sports Talk1:50 - Fishing Reports & Super Bowl Recap4:30 - High School Basketball Rankings6:07 - Danny Van Eaton Tribute & Show Preview8:47 - Kenny Zuspan Interview Begins10:57 - Competition Format & Rules Explained14:00 - Prize Money & Entry Details19:20 - Last Year's Competition Results26:29 - Property Management & Turkey Conservation29:53 - Contact Information & How to Enter31:17 - Future Plans & Predator Hunting Contest35:11 - Bonus Segment: Turkey Recipes & Final Thoughts

Which hospitality events should YOU be attending in 2026? In this episode, David Millili and Steve Carran sit down with John Burns, President of Hospitality Technology Consulting, to review the top hospitality events of 2026. From tech expos to independent hotel shows, cruise industry summits, and AI-focused conferences, we cover what's happening, who should attend, and why these events are game-changers for hoteliers, developers, and investors.  In this episode, we cover:The global power of ITB Berlin and why it's more than just a trade show.Networking gold at Hunter Conference Atlanta and what makes it a must-attend.Insider tips from HFTP Executive Vendor Summit, AAHOA Philadelphia, Sea Trade Cruise Summit, and more.How direct bookings and AI are shaking up the hotel industry.Whether you're a hotel owner, operator, developer, or just love staying ahead in hospitality, this episode is your roadmap for networking, learning, and making deals happen.Watch the FULL EPISODE on YouTube: https://youtu.be/UbP3xSHCc-M Links:John on LinkedIn: https://www.linkedin.com/in/john-burns-1a6139/Hospitality Technology Consulting: https://www.burns-htc.com/For full show notes head to: https://themodernhotelier.com/episode/252Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

In this episode of Married to Property Management, Jim and Melissa sit down with special guest Monica Gilroy to talk about what's happening across the property management industry.Monica shares insight you won't want to miss. Whether you're an owner, investor, or fellow PM professional, this conversation breaks down how national changes are impacting local markets and what you can do to stay ahead.If you want to stay informed, proactive, and competitive in today's evolving industry, this episode is for you.

Send us a message!In this episode, Alex & Annie sit down with Krista Goodrich and Kymberlee Nguyen, the duo behind Salty Dog Vacations, to talk about what it really takes to build a vacation rental company that guests remember and a team that is proud to be part of it.They share how Salty Dog grew from early investing decisions in Daytona Beach into a full-scale operation, and how their approach to branding goes beyond design choices. It shows up in the details, the guest experience, and the way they protect their people.The conversation also expands into Krista's work in local advocacy and zoning, their broader mission to help more women build wealth through real estate, and how their community has grown through retreats and education.Episode Chapters:08:20 – How local rules, zoning, and community involvement shape what it takes to operate responsibly15:07 – Building a brand guests remember: personality, pet-friendly touches, and guest joy19:37 – Krista's “Boss Lady Investor” work, and why real estate education needs to feel accessible25:00 – How retreats and community experiences can become part of a bigger platform, not just a side project33:32 – What it looks like to build a company culture where your team feels protected and respected35:44 – The moment they fired an owner, and why that decision mattered for the business long term40:25 – Why consistency matters more than “cute ideas,” especially once you are scalingIf you're trying to build a stronger guest experience and a business that holds up as you grow, this one's worth a listen.Connect with Kym & Krista:LinkedIn: https://www.linkedin.com/in/krista-goodrich-2823198/ Podcast: https://www.thebossladyinvestor.com/ Website: https://mysaltydogvacation.com/ ✨ Exclusive Offer to Alex & Annie Listeners:Streamline your short-term rental operations with Hostfully.Mention the Alex & Annie Podcast when you sign up and get free onboarding ($1000 value).

As property management faces rapid technological disruption, what happens to the businesses that refuse to adapt… or the ones that go all-in on AI and eliminate the human element entirely?  In this episode of the #DoorGrowShow, Jason and Sarah Hull sit down with Joe Oliveri in Brisbane, Australia to unpack the accelerating AI revolution and what it means for the future of property management. With over 30 years in the industry and 16 years as an international real estate business coach, Joe shares why he believes the next three years will determine which companies survive, and which disappear.  They explore the shift from traditional property manager roles to data-driven client relationship managers, how AI can transform processes like lease renewals, the risks of deepfakes and security threats, and why the winning formula will be a strategic blend of technology and human connection.   You'll Learn (00:00) Introduction to AI in Property Management  (00:40) The Evolution of Property Management  (01:58) The Impact of AI on Property Management  (05:35) Integrating AI with Human Interaction  (10:30) AI's Role in Tenant Management  (14:17) The Need for Verification in AI  (16:30) The Future of AI in Property Management  (21:44) Consequences of Ignoring AI  (25:43) Finding Balance: AI and Human Roles Growth  Quotables "If this industry does not change and truly understand AI, we're going to be irrelevant." "Three years is all we've got to make the changes."  "AI isn't something that they can go back to their office and say, we're going to build this AI. Let the experts do it." Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive Transcript Jason Hull (00:00) that companies will need to be able to make to keep up and really frankly, survive. It's recording.   We can time up. Shifts in layout. Let's count. All right. You think it's going to work there or should we hold that? Well, we'll probably have to do this. All right. Cool. No introduction. Well, no. Just do it. I'm saying not the full intro that you normally do the way you read the entire thing. Just do a quick. You're not going to have all that when we're going to send it. OK. Do an intro, but you're not going to do the normal intro. All right.   Put those somewhere. Hang them on your shirt or do something. Okay. That's very Brisbane. Well you have to fit in. When in Brisbane, do like Brisbane. Right, so we are... It wasn't pretty. Okay. Five, four, three, two... If you can see the camera, it can see you.   Can you see the camera? can. You don't... can. Okay. Alright, you ready? Five, four, three, two, one. Alright, so I'm Jason Hull. This is Sarah Hull with DoorGrow and we are Hangout with Joe Oliveri. And we're in Brisbane. Brizzy. Brizzy, yeah. And you can't see but we're overlooking the beautiful city and the river right now.   And what is this, a wine room? Yeah, this is our wine cellar. Private wine cellar. Private wine cellar. Okay. And so we're going to be chatting today about AI, the future, and how that's going to impact and affect property management. So, Jill, why don't you give people a little bit of background on yourself and who you are and how you got into property management.   Yeah well that's a long story but I'll make it short. So I've been in the industry for about 30 years now so it makes me feel old when I say that. ⁓ But for the last 16 years I've been a real estate business coach and I've been lucky enough to coach people in Australia and the USA so I get a really good oversight of what's going on in the world. ⁓ But you know my focus for the last 16 years has been   where is this industry going and how can we help businesses to get there and what do need to do? So basically, yeah, for the last 30 years, I've been doing property management and yeah, I think it's exciting where it's heading and through that journey, I met you guys, which is wonderful. So yeah, yeah. Yeah, fantastic. We've been able to have you out at one of our conference events and have you speak and yeah, it's been delightful.   ⁓ I know, I mean, in 30 years, you've seen a lot of changes, but it's speeding up. Like we're in the middle of this AI revolution right now. Everything's changing dramatically. And so what are some of the things that you're noticing? And you have a process software called Thrusos, which we use to run our own operational side of our business. ⁓ What are some of the things that you are right now?   thinking are going to happen and you're trying to figure out. Yeah, well, I'm actually concerned about the future for property management in a positive way. If you can kind of like say that. Because what I'm seeing is we are going through rapid change. I remember when I started in the industry 30 years ago, we were just introducing property management software. Everyone was still using spreadsheets and you know.   paper documents and all sorts of things. ⁓ Carbon copy leases, know, that's how far back we go. And there was major pushback on property management software. And the pushback probably took about five years for the industry to completely transition to understanding you had to use software. Well, we don't have the luxury of five years anymore because my belief is it's changing so rapidly.   And it's the consumer expectations that are going to force change that if this industry does not change and truly understand AI, we're going to be irrelevant. So I believe in three years time, we're going to see completely different roles in the way that we do things. in the next, like leading up to that three years,   I believe that in the first year, we're going to see probably about 40 % of businesses starting to struggle and disappear. They're losing managements, clients are going elsewhere because they're expecting AI and seamless processes and interactions and tasking. And then that will speed up. And by the second year, we'll see 80%.   And then we'll only have a small percentages. I know this seems like doomsday, but it's a reality. Only a small percentage of existing businesses that are around today who will be around in three years time. If they do not adopt AI and AI is very broad. So they've got to understand AI, but you know, that's my belief. That's what I'm seeing as well. So yeah, you know, we've got to sit up and take notice.   Yeah. And I think a lot of the things that I've been noticing, some people kind of shift right away and some people are a little bit more reluctant to shift. Yes. And I think the ones that it's almost you need to find the balance. You don't want to go all in and all AI and you don't want to have no AI. You want to kind of find the right balance and that happy medium and really figure out what is the best way to utilize AI.   and have a human component. Because I do not believe it will be able to be all AI. I just, think when it really comes down to it, it is a relationship business. It's a human to human contact business. really when things go wrong, humans want to talk with other humans who understand. They don't want, have you ever been on the phone and you're going, agent, agent, representative, and it's not.   understanding and you're like, just get me to the human. do I, what button do I need to push? What option is it that I the human? And I think that will continue, that will prevail. However, AI is such a powerful tool that I think we just need to figure out what's the most complimentary way that the humans and the AI can interact together to provide an amazing experience so that the tenants are happy and the clients are happy and the property management business is happy.   really be able to figure out what's the best way to do this. And something that you were telling me yesterday, I went, ⁓ she is so smart for doing that. Can you talk a bit about your, ⁓ tell us first about Flusos and what it is and how it works. And then tell me what you were chatting with me about at dinner last night about what you're going in and updating in Flusos because of all of the advancements in AI that are happening.   Yeah, yeah, so you're 100 % right Sarah, you know, there will always be the human element. It's necessary. We're a service business. So people want the customer relationships. They want that person who lets them know, hey, this is all right. You know, we're going well here. But the role of the property manager has changed. There will always be a role for property managers, but not in the way that we see it today.   And that's where we've got to make that transition. But one of the simplest flows to talk about, when I talk about flows, Flusos is workflows on all of the various tasks that we do. To help people understand how AI integrates with the human side of property management is if we look at a tenancy renewal. So when we're doing that renewal, there's so much that AI can do that takes away that   you know, that personal kind of like input ⁓ into the task as in like if a property manager doesn't like a tenant, then you know, like it becomes personal. ⁓ If they do like the tenant and they've built this relationship with the tenant, where the tenant is making them feel like if the rent goes up, that the tenant will lose the home, the property manager gets too involved personally and emotionally.   So to take away that very personal and emotional element and deal in the facts, if we look at, you know, a tenant renewal, AI has the ability, and this is what we're building into Flusos. So AI has the ability to go through and say, these renewals are due. It will then look at the tenant history to say, you know, how's the tenant pay the rent on time? Let's look at the in-resident inspections that we've done and we can see that the tenants   looking after the property, abiding by the terms and conditions. Everything's going great. We can see in the system where the tenant has, you know, kind of like mentioned that they would like to renew, that their children go to the local school and they want to stay there through the primary. We've got all of this data that's built up. So AI will be able to go in and say, yeah, you know, like this tenant has mentioned they want to stay on. We look at their history. It's all good. We're also going to look at the market.   And the market is determining that we can increase the rent to this much or it stays, it remains as it is. And we should offer a lease term of this length because AI will be able to determine what's going on in that marketplace. There could be infrastructure rebuilds going on, which could push people away from moving there. You know, just because we've got infrastructure being built, there is a building period that turns people off.   So AI can look at all of that and then say, okay, this is what we should offer the tenant. Now, the property manager then looks at that and they can say, well, you know, this owner has this property as a ⁓ full-time ⁓ or permanent investment property, but we need to talk to them and say, hey, as an investment property, this is where we recommend that you, you know, take the property, increase the rent, offer renewal because of this.   ⁓ And then the owner can make a decision. Now AI jumps in, does all the lease renewals, sends off the documents, updates the system. And the property manager's next role is talking to the owner and saying, congratulations, the tenants have signed the renewal. AI has then given them updates on your property is now achieving this in comparison to market. This is what the increase means to you in terms of dollars and percentage.   And we become that voice of, you know, like ⁓ reason and congratulations and service. And the owners look to us for that because all the information that's given to them is not based on personal, ⁓ you know, thoughts on what's going on or emotion. So, yeah.   And it makes it seem either that's the thing. No, I guess not. Oh, I think they're building over there. So maybe it'll be good and yet they're supposed to build a new stadium and that'll bring in. It's really figuring out things that we just don't know what the impact will truly be. And I love that it's kind of like, OK, have the human monitor the AI and have the AI do the heavy lifting.   and then you kind of watch it, make sure it's doing the right thing, and then you get to be the human to human connection. Exactly. Let me be the one who calls the owner, but AI has done all the things for me, so it's kind of prepped it, gotten it ready, wrapped it up in a pretty package that now I can present to the owner, and I get to be almost a bearer of good news instead of the bearer of bad news. Exactly, exactly. And know, owners don't want to hear that you should renew the lease because they're a good tenant.   Well, what constitutes a good tenant? They have to pay their rent on time. They have to look after the property. They have to look after the garden. So they've got to abide by the terms and conditions. It doesn't mean they're a good tenant. So owners don't want to hear that. The owners want to hear that they've abided by the terms and conditions. So we see no reason why they shouldn't be offered a renewal. I think one of the interesting challenges that are   that's going to come with AI is that AI can make anything now. I can take a photo of you, I could use AI to make you say stuff and match your voice. And so the danger with AI is that I think we're gonna get to the point where people will only trust human in-person interactions to begin things or to end things or just, you know. And so there's gonna have to be this human element of verification unless there'll probably be some people that work this out.   like some sort of verification system. You can load it up on your phone and verify that this is a real thing that you're talking to on Zoom or something. you know, that with all the AI slop as they're calling it and all of the fake videos and it's now becoming nobody believes anything. And so it's hard to know, is this really true? Is this actually the property manager that I'm talking to that is, you know,   that I have this property and I'm the owner and you know, are they real? And so, am I giving them access? And so I think there's gonna need to be some sort of verification system in order for people to trust because people will trust, I think it'll get to the point where we'll just trust this. Like I can shake your hand, I can touch you, I you're real.   I mean, we might all be fake on the I you don't know we just took a photo and write the whole podcast and do it and yes But they're really in Ulston That's right. Yeah There's been so much that's happened with deep fakes there've been yeah millions of dollars scammed and Now there's it it's getting so aggressive   that it's recommended that if you are a human that recommends or that interacts regularly with another human, like you and your husband, for example, or you and your children, that you have a a safe word, a password, a verbal safe where if you get a phone call from what looks like and sounds like your daughter saying, mom, I'm stuck on the side of the road, please send me money, I need help, what's the word?   What's the word? And then you know if that word isn't said, that is not my daughter even though it looks like it sounds like it. And I think that's going to be something that we need to kind of incorporate as well and for that reason I agree. I think that in-person, personal relationship will be more important than ever. Yes, I agree with that and this is something that's interesting you bring that up because I always had a safe word with my children. It was given. ⁓   It's something that I think property managers take for granted. They call owners and tenants and talk about all sorts of things without any sort of security check. So, you know, like if we're talking to the banks or, you know, anyone, we get a telecode or we've got to like key in what our personal sort of verification. Exactly.   So I think that's another area, and I'm glad you brought that up because it's another area where industry has to step up. We've got to protect the data that we've got. We've got a lot of sensitive data there. So we've got to really look after that. But there will always be that human element in property management because people want to know that they're making the right decision. People want to chat about it. They want to go through and say, based on that data,   would I be wrong in increasing the rent? It's like, no, a property manager is like, that's what the market is determining. So if the market determines a rental increase, then that's what the market is saying. Holding back rent only impacts every other investor in that market. I think it'll be interesting. So I think moving forward in the future, if we start to leverage AI, but we build our processes around things.   you know, initiated in a way that it starts with a human and that sensitive touch points are done as a human and that we come up with our own verification methods, we're going to avoid some of these traps and our processes will have a longer life span. Yes, yes. You know, we won't have to, man, we have to change everything now with the, all these scammers are doing this one thing where they call up and pretend that they're you, you know.   And so, yeah, because you can go on 11 Labs right now. You can upload your little recording of your voice and then you can have your voice and you can have it say anything. so, yeah, so I think that's going to be a challenge. And I think we're going to have to figure out a way to how do you how do you on a Zoom call with a remote owner that's out of state or out of country verify that each of you are an actual   real physical human being. Somebody needs to invent that device that verifies it's like taking a blood sample. It's like they're human and it's it's like, this is the, this is actually Joe I'm talking to across the pond. So yeah. Okay. Yeah, it is important. And I think the other thing for the industry to understand is that, you know, AI isn't something that they can go back to their office and say, we're going to build this AI.   ⁓ Let the experts do it. Let the experts who understand process and know, Sarah is a real expert on process and to have that level of expertise, it takes a lot of knowledge and a lot of like building and rebuilding and understanding and it's tweaked, you know, for different companies. But you know, like they shouldn't be taking this on themselves. Let the experts do it. And when we talk about, you know, our tech.   We need tech stacks and there is a lot of different technology out there that we've got to build it all in together. Property managers can't do that. A lot of business leaders can't do it either. know, have faith in the experts. That's what I'm saying to the industry is have faith in the experts because, you know, they are doing a lot of work behind the scenes on making sure that AI is not a negative.   impact to the industry is only making our industry sustainable and relevant into the future. mean that's going to be one of the temptations and dangers is that anyone can now go create any software. can load up lovable or any of these other tools and they can say make me a CRM or make me a property management software. But yeah the problem is you then have to become some sort of expert that's constantly communicating, fixing bugs, tweaking it, figuring it out.   And if you can't or something breaks or something gets hacked, then you're at risk. Your whole business is now at risk. And yeah, so I think that, but in the future, everybody will be able to create anything. So I think the people that really thrive and survive and keep a job while AI kind of takes over, I believe will be those that are the artists.   So we're going to shift away from it being about being a nerdy programmer. It's going to be those that have this creative thinking that they can think, how can I combine these tools? How can I connect these? How can we innovate this? And that's been one of the most fun things for me in playing with AI is now I get to be an artist with building systems and building things and creating things. Cause I can create things so quickly. Whereas before I would just think about all the things I wanted to do. And I'd be like, that'd be nice if somebody made that. And I'd be like, that's way too much work.   I don't want to do that. but yeah, it's now you can just create anything and you can edit things quickly. You can have things reviewed. And so there's a lot of things that everybody's probably already using some of the AI tools right now, you know, like chat GPT and maybe Claude and perplexity and some of these things, but there's a lot of, you know, more advanced tools that are coming out that are going to make things even faster.   And now AI is building AI and things are just speeding up.   Jason Hull (22:01) is that we're gonna have a lot of tenants out of work. I think there's gonna be a lot of tenants that are like, hey, I just lost my job to AI. And so we've already replaced some roles and some functions of our team and maybe even a whole team member with some AI tools already. And so that's coming very quickly. And I think Elon Musk just said that   in the next three to five years, the best surgeons in the world will be robots. And those are high paying, high functioning jobs that people put a lot of effort into, but he says they'll be better, more accurate. And so, do you want a really seasoned, older surgeon with maybe, he's human steady level hands, or do you want somebody that has laser precision that gets it right every time that's overseen by that person?   I think the best blend is both. I want the AI laser precision with the human with all of the knowledge and experience to watch it and make sure that it's the right thing. if you did it that way, if a doctor just had a monitor, it eliminates the need for many of them. You now need one doctor to...   multiple AI robots. Because you've got beta. think everything that's going to shift, AI is going to change so many things, which is great. It's still not going to be able to, I mean, how comfortable would you feel? Open heart surgery and that's the AI robot and you go, ⁓ do I want that thing cutting me open? ⁓   What's its track record? What if it glitches? What if it breaks down? Is it going to do the right thing? it know? What is it, you know, is it programmed? What if it dies in the middle of the surgery? Does it have a battery? There's a lot of things to think about. And does it care? Right. is it, what if it that eye robot where it's scanning and going, oh, it has an 11 % chance of survival. I'm done. Well, wait a second. Hold on. Do we, you know, do we keep going? So I think everything is going to come down to a blend.   of AI and human and there's got to be both of those components. So can you maybe chat about, let's chat about kind of both ends of the spectrum here. What might happen to some property management companies that refuse to adopt AI? Where they go, I'm just not doing it. I'm not using AI. I'm staying old school. We don't want to learn anything. We don't want to do anything else. might you be a, what would you think the prediction would be on companies that just will not?   Yes. Use it. That's a really good question because we kind of saw that with what happened with these old school companies ⁓ where they refused to have anything but the property management program, you know, where you store your data. ⁓ And they eventually were out of business. I mean, I'd go into these offices and they just have   files everywhere, files covering the desk, they didn't know where anything was. But they refused to, you know, ⁓ use anything else than go to that paper file. And it was a mess. mean, how do you find paper? ⁓ So we saw those businesses gradually get out of business. They didn't have a business to sell, basically. So they might have been mighty in their day, but they were no longer mighty when technology just   over. Now that took a long time to happen in the past. It's going to be more rapid now. So those businesses that refuse to adapt or adopt AI or understand it because a lot of them think we've got AI. It's like you don't have AI. GPD does not help you to manage process better. So if they don't then   We're seeing it already Sarah and Jason. We're seeing that these companies that used to manage 500 or more managements are down to half of that and I'm selling one at the moment where they had 600 and we're just on the final figures today. They're down to 342. That's a lot of money that they've lost because they refuse to adapt new methods and they let the property managers determine   what technology they would use. Because what happens if we allow staff to determine what technology we will use, then the staff just create or justify a reason for their position. We can't do that anymore. We've got to identify the task that a property manager does. And there's much less than what, you know, they did in the past. A property manager is basically just a client relationship manager now.   They're reviewing data and interpreting that data to have conversations with the clients. And that's the way we've got to do it. And the other thing is, investors are changing too. So we're getting a lot of institutional investors. So institutional investors don't want to deal with, you know, mother head and type, you know, like, ⁓ the tenants are lovely and you know, you don't want to lose them and...   you probably can't afford to do the maintenance and things like that. Institutional investors just want the facts so they can make a decision and quite often they don't want to make a decision they want the property manager to do what's needed. And AI will determine the necessary steps so the property manager becomes that person this has been done or they can look online through their portal. in   I'm like, that's a long answer to your question. But you know, like I believe hand on heart and don't want to seem like I'm doing so sorry, I'm hitting the mic. that three years time is three years is all we've got to make the changes and to identify the tasks the property manager does. Because it's not the same anymore. I agree. And I think it's about shifting that shifting. It's about making that shift.   And then conversely, let's talk about the other end of the spectrum because, okay, if you go, you know what, I'm sold, I'm doing everything AI. I'm firing my entire team, I'm letting AI do everything and we've seen some companies try to do this before, but now there's a lot of changes and AI can do a lot of things that before was not possible. So what would you say to the companies that are gonna go all in and they're gonna do all AI? Is that the solution?   No, it's a happy blend of technology and team. So if you don't have the team there, property management is a service industry. So we have to remember that, you know, and our service is helping the clients to feel confident about decisions that they're making or instructions that they're giving. ⁓ So it is definitely a blend of ⁓ technology and team.   but the team's role has changed. please don't think you can go in there and chat GBT is going to, you know, create all the conversations and, and, know, they're going to answer the phone and, and, you know, talk to the client and record it all. No, there needs to be human element. But again, I'll go back to it's the experts that will help you create that because it's very, very difficult to understand how to blend that technology and team. ⁓   without the kind of like the team having their say in it too. A lot of business owners let the team say too much and they make decisions based on team. We've seen that, or they take a vote. A vote, yes. My team, I hear that from our clients, and they go, well my team voted and what? Your team voted? No, no, no, no. that's good. They don't ever vote. Like, yeah, you know, eliminate my job. I'll vote yes for that. Yeah, yeah. No, no.   Yeah, the challenge with team members is that they are not usually money driven the way entrepreneurs are. They're not focused on the money side of the business and they're focused on safety and security. And as AI comes, that's going to take a lot of that away. And so yeah, you don't want to have your team vote. This is, it's not like a   It's not democracy. No, this is business. I believe in democratic principles, it's the business. But yeah, you can't place the burden of decision making on people that are wired to make decisions in a way that's not conducive. Yeah, it's all about them. And, you know, like it's important to understand how the team is thinking so that you can then help them adjust to it or no.   that person's not going to come through with me. So you can make the decisions. no, know, team will always justify why they are needed in a business. Yeah. mean, the day may come with all the AI stuff and humans really, we tend to like each other. We like humans a bit. You know, we'll probably have labels on our business made with real humans. Real humans at our business and a real human answers the phone. No AI. You know, I mean, it might happen. So that could be interesting. So.   One of the things that I also though, am thinking and maybe I'm a bit of a conspiracy theorist or a little crazy, I don't know. But ⁓ when Trump went into Venezuela and extradited or took out that dictator that had taken over the government there and was causing a lot of problems, the people were very happy. But what was really interesting, what was unsaid or I didn't hear people talk about it much is the US government.   Military whatever went in had the ability they turned off all the power to the entire city There were not even backups were working everything went out and went black. Mm-hmm and That's wild to think that we have the ability to just wipe out power and electricity I don't know if it was an EMP thing or Some people say solar flares can do this and maybe the government can do this kind of stuff. Who knows but the fact that technological   data, power, electricity, all that can just shut off in an instant. How would we deal with that in a world where everything has become digital and everything has become AI? Will we have backups? Will we have keys? Will we be able to find things? ⁓ Will we know stuff? there's, think there, I mean, if that happens one time, it will be like change everything forever. Just like the pandemic changed everybody's perception forever about.  

Can AI stop your next big hotel claim before it happens?In this episode, David Millili and Steve Carran sit down with Sriram Nalla, Hospitality Vertical Lead at WithCoverage, to discuss his unique journey from music management and entrepreneurship to transforming the insurance industry for hotels.Topics Covered:How WithCoverage is disrupting traditional hotel insurance with AI-powered solutionsStories of hotels saving 20-25% on premiums and improving coverageTips for aspiring leaders in hospitality and entrepreneurshipThe importance of curiosity, networking, and building trust in business. Watch the FULL EPISODE on YouTube: https://youtu.be/7cegKtiXR-ILinks:Sriram on LinkedIn: https://www.linkedin.com/in/sriram-nalla/WithCoverage: https://withcoverage.com/For full show notes head to: https://themodernhotelier.com/episode/251Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

In this episode of the podcast, we're unpacking the difference between smart, opportunistic investing and shiny object syndrome for female real estate investors who want to build real wealth without burning out.We dive into:What shiny object syndrome actually looks like in real estate—and how it can keep you from ever doing your first dealThe fine line between being distracted and being scrappy and resourcefulWhy committing to one strategy, one market, and one buy box is the fastest way out of analysis paralysisHow we've seen experienced women investors stay opportunistic without creating chaos in their portfoliosWe also share real examples from women in the WIIRE community using creative financing, rent-to-own, long-term rentals, mid-term rentals, and short-term rentals—all within a clear, focused ecosystem.If you're a woman in real estate wondering whether your many ideas mean you're evolving or just avoiding going all-in, this episode is your honest sanity check and practical roadmap.  Resources:Simplify how you manage your rentals with TurboTenantGet in touch with Envy Investment GroupMake sure your name is on the list to secure your spot in The WIIRE Community Leave us a review on Apple PodcastsLeave us a review on SpotifyJoin our private Facebook CommunityConnect with us on Instagram

Here's a quick recap of what happened in property management last week. Links and resources to each story are included below…00:00:20 — Housing for the 21st Century Act Passes (No Investor Ban Included) - House Republicans and Democrats just passed the Housing for the 21st Century Act. It's largely a “build more housing, faster” package — clearing federal review delays, reducing regulatory bottlenecks, and making it easier to develop missing middle and small multifamily housing. It also includes faster voucher lease-ups and some manufactured housing provisions. https://nypost.com/2026/02/11/real-estate/congress-advances-housing-bill-without-trumps-proposal-to-ban-investors/(One important note: the proposed ban on institutional investors buying single-family homes did not make it into the final bill. That piece was left out. So for now, there's no federal restriction coming on large-scale homebuyers. The supply-side reforms advanced. The investor restrictions didn't. Worth watching how that evolves.) 00:01:20 — HOA Manager Accused of Stealing $1M+An HOA manager has been accused of stealing more than $1 million in 2025, including at least $600,000 from one condo association. Allegations include forged checks and misdirected settlement funds. Wild story. But zoom out for a second — this is almost always a controls issue. One person had too much access and not enough oversight. Basic financial guardrails likely would have prevented this. Dual approval on disbursements, separation of reserve and operating accounts, bank statements going directly to board members. Processes are like plumbing — invisible when they work, a disaster when they don't. https://www.realtor.com/news/trends/hoa-manager-allegedly-scammed-people-out-of-1-million-over-4-years/00:02:08 — AppFolio Releases 2026 Property Management Benchmark Report! AppFolio just released its 2026 Property Management Benchmark Report, and a few things jumped out. https://www.appfolio.com/resources/library/benchmark-reportThe top two challenges operators reported were higher vacancy and rising operating costs. That's not surprising, but it's validating to see it confirmed at scale. In response, 86% of property managers say they're prioritizing resident experience — especially communication and reducing friction around move-ins.Fraud continues to go mainstream. More than half of respondents reported an increase in application fraud last year. That's huge. Screening and verification are becoming table stakes.And then there's AI. Forty-four percent of respondents say they're already using AI tools, and those users expect faster portfolio growth than non-users. Interesting correlation. If you're not experimenting yet, this might be your sign to start small and see what actually moves the needle.That's all the news I have for you this week. Have a good one.

In this episode of The Property Management Excellence (PMX) Podcast, REB's Alex Whitlock sits down with Nick Georges, industry veteran and director of growth at the Wingman Group, to explore how innovation, relationships, and strategic thinking are reshaping property management. Whitlock and Georges unpack the widening gap between traditional approaches and next-gen operators, the influx of professionals from adjacent industries, and why tech-enabled, proactive property managers are becoming essential partners for investors. They reveal how property managers can add real value, beyond rent collection and maintenance, by aligning with owner goals, identifying investment opportunities, and maintaining regular, strategic communication. They also discuss how thoughtful, relationship-driven approaches can transform a rent roll into a scalable, saleable asset, and why those who embrace innovation are best positioned to thrive. The conversation also highlights the emerging "next-gen agency" model, the power of ecosystems within real estate offices, and practical ways to leverage teams, offshoring, and technology to maximise growth and retention.

When your property management business isn't growing, relying on cold digital leads or hiring a salesperson might seem like the obvious solution, but what if those are actually the biggest time and money sinks?  In this episode of the #DoorGrowShow, property management growth expert Jason Hull breaks down why cold leads from digital marketers are "garbage," why most Business Development Manager (BDM) hires fail, and how he's seen a repeating pattern of busy owners having no time to execute growth strategies. He dives into the Door Machine, a game-changing new growth model designed to help property managers scale with warm, relationship-based leads and a Door Grow-trained salesperson, all with no upfront salary risk and a focus on guaranteed results.   You'll Learn (00:00) Introduction to DoorGrow and Its Mission  (06:50) The Door Machine: A New Solution for Growth  (12:25) Understanding the Cost and Value of the Door Machine   Quotables "When's the last time you actually worked on growing your business instead of just running it?"  "The real path to growth isn't more cold leads. It's warm leads from relationships." "Without the foundation, a salesperson is wasted. With it, a salesperson becomes a weapon." Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive Transcript Jason Hull (00:01) All right, five, four, three, two, one. All right, I'm Jason Hull, the founder and CEO of DoorGrow, the world's leading coaching and consulting firm for residential property management entrepreneurs. We've helped hundreds of property management business owners add doors, increase profit, add and build winning teams. Think of us as like bar rescue for property managers. We've cleaned up and rebranded over 300 businesses.   At DoorGrowth, we believe good property managers can change the world and that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income. We're on a mission to help the best property management entrepreneurs win. Let's get into the show. So, hey, property management entrepreneurs, I've got a question for you. When's the last time you made a cold call to an investor?   When is the last time you followed up with that realtor who said they'd send you referrals? When's the last time you actually worked on growing your business instead of just running it? If you're being honest with yourself, it's probably been a while. And look, I'm not judging you. I've been doing this for a while. I've been coaching property management managers for over 15 years. I've seen this pattern thousands of times.   and you started this business to manage properties, not to be a salesperson, but somewhere along the way, you became your company's only source of new business. The problem is you don't have time for it, you don't enjoy it, and if you're really being honest, you avoid it. So today I'm gonna share with you something we've been working on that solves this problem entirely. It's called the door machine. And by the end of this episode, you're gonna want to know everything about it. Okay.   So welcome to the DoorGrow show. I'm Jason Hull. And if you're a property management entrepreneur who wants to grow your business and your life, you're in the right place. Our mission at DoorGrow is to help property management business owners transform their businesses so they can have freedom and fulfillment. Today's episode is different. I'm not bringing on a guest. Instead, I'm going to pull back the curtain on something we've been developing that I believe is going to completely change the game for how property managers grow their doors. Let me paint a picture for you.   Okay, it's Monday morning. You've got a list of investors. They are people you should be calling. And there's that realtor you've been meaning to reach out to. And you told yourself, like last week, that this would be the week you finally get serious about sales. Then a tenant calls, something comes up, you have a maintenance emergency.   An owner is upset about a repair invoice. Your bookkeeper needs something. Someone on your team has a crisis. And suddenly it's 6 p.m. and you haven't made a single sales call. Again, sound familiar? Here's the thing. You're not lazy. You're not bad at sales. You're just spread too thin to give sales the attention that it deserves. You've got other fires to put out.   Maybe you're running other businesses. A lot of you are, you're entrepreneurs. Maybe a family that actually deserves your attention is waiting for you in the living room. The last thing you wanna do at the end of a long day is cold call investors or go schmooze at some networking events. So what happens? Growth stalls. You hit a plateau and you stay stuck. Not because you don't know how to grow, but because you don't have the time or energy to do what it takes.   And I've talked to hundreds, maybe thousands of property managers who are in exactly this situation. They know they should be doing more sales. They just never get to it. Okay, now at this point, some of you are thinking, Jason, I don't need to do sales myself. I just need more leads. So you call up a digital marketing agency. They promise you SEO, Google ads, Facebook leads. They show you fancy dashboards and talk about cost per lead.   You write a check every month and wait for the phone to ring and here's what those marketers don't tell you. Not all leads are equal. Digital marketing leads are cold leads. These are strangers who clicked an ad. They're price shopping. They're talking to five other companies. They convert it maybe 10 % if you're lucky. Here's the bigger problem. There just aren't that many people searching the internet for property management. You can prove this on Google Trends.   It's not like HVAC repair where people Google in a panic. Property owners aren't searching. 60 % of them are self-managing and don't even know they need you yet. So you end up paying 200, 300, sometimes $500 per lead for tire kickers who ghost you after one call or ghost you after you send your proposal to them. Meanwhile, the marketing agency keeps cashing your checks and showing you impressions and click through rates.   that don't translate the doors. The math doesn't work. The leads are garbage and you're still stuck. The real path to growth isn't more cold leads. It's warm leads from relationships. This is even going to be more pressing and more present in the future with AI. Human interaction is going to matter even more. There's AI Slop.   So what are warm leads? What are these relationships? They're referrals, they're strategic partners, direct outreach to investors who don't know they need you yet, but that takes time and effort you don't have. So at some point, most property managers realize they need help. They try to hire a salesperson, a BDM, business development manager, to take sales off their plate. You post a job listing, you sift through hundreds of bad applicants, finally hire someone,   who seems promising, pay four to $6,000 per month in salary, train them, wait, hope, six weeks later the salesperson quits or they get fired because they just don't produce. Meanwhile, you've burned 10 to $15,000 with nothing to show for it. Ask me how I know. I've watched this play out over and over again with clients. Here's what nobody tells you. The problem isn't just hiring. The problem is that most property management companies don't have the foundations   that make a salesperson successful. Without the right positioning, reviews, website, pricing, pitch, systems, accountability, and lead flow, even a talented salesperson will fail. And even if you do have all these things, who's gonna train them, manage them, hold them accountable? You? Mr. Busy Person or Mrs. Busy Person or Miss Busy Person? You barely have time to do sales yourself.   let alone manage somebody else doing it. Okay, so I'm gonna take a quick break and then we're gonna get into the solution, but this, I'm gonna tell you about our sponsor for this episode. If you're dealing with maintenance stuff, you may wanna check them out. This episode is sponsored by Vendero. Many of you tell me that maintenance is probably the least enjoyable part of being a property manager and definitely the most time consuming. But what if you could cut that workload by up to 85 %? That's exactly what Vendero has achieved.   They've leveraged cutting edge AI technology to handle nearly all your maintenance tasks from initiating work orders and troubleshooting to coordinating with vendors and reporting. This AI doesn't just automate, it becomes your ideal employee, learning your preferences and executing tasks flawlessly, never needing a day off and never quitting. This frees up you to focus on the critical tasks that really move the needle for your business, whether that's refining operations, expanding your portfolio or even just taking a well-deserved break.   Don't let maintenance drag you down. Step up your property management game with Vendero. Visit vendero.ai slash doorgrow today and make this the last maintenance hire you'll ever need. Okay, back to what we're talking about. Come with me for a moment. I want you to imagine something. It's Monday morning. You check your pipeline. There are three new owner leads that came in over the weekend, all qualified.   all in your target market, all ready to talk. You didn't generate those leads. You didn't make those calls. You didn't do any of the follow-up. Someone else did. You didn't pay to run ads to get them. By Friday, one of them has signed 12 new doors. You didn't lift a finger. Now imagine that happening every month, 10 doors, 20 doors, month after month. And here's the best part. You didn't pay a salary.   You didn't gamble on a maybe salesperson. You only paid when doors actually closed. No salary, no upfront risk, just results. No more guilt about the sales calls you're not making. No more networking events you dread. No more lying awake wondering how you're gonna grow this thing. Just doors showing up in your business while you focus on operations, owner retention, and actually living your life.   What I just described, that's the door machine, the door grow door machine, and it's real. Here's how it works in plain English. So we assign you a trained door grow salesperson who works your market. You pay nothing upfront, no salary, no retainers. You only pay when doors actually close. The salesperson executes our proven growth engines, getting realtors to introduce them to investor clients, reaching out to self-managing landlords, building relationships with other property managers   who send overflow your way. We recruit them, we vet them, we train them, we manage them. We hold them accountable. We're better at this. All you have to do is take on the doors they bring you. These aren't cold internet leads that close at 10%. These are warm leads from relationships that close at 90%. Our goal after a 90-day pipeline build is 10 to 20 new doors per month. Some of our clients have added over   300 doors in a year just using one realtor referral strategy and if the salesperson doesn't work out we replace them no hassle No drama, no extra cost. That's our problem to solve not yours They work for us Now some of you are thinking this sounds too good to be true. Let me explain why it's not we've spent 15 plus years coaching property managers on growth We are the best in the industry   We've helped hundreds of clients at Doors using our growth engines, sales strategies, and proven systems. We've also watched the same pattern repeat over and over. We teach the strategy, but the busy owner doesn't have time to execute. We train their salesperson, but the owner doesn't hold them accountable. The system works, but the weakest link in the chain is usually the overwhelmed business owner who can't give it the attention it needs. The Doormachine removes that weak link entirely. Now we recruit the salesperson.   We train them on our systems. We hold them accountable. We manage the process. We give them the support they dream of having. You just take on the doors. Same strategies that have worked for years, but now with DoorGrow controlling the execution. Now I need to be upfront with you. The door machine is not for everyone. We're selective about who we work with, and that's by design. This is for you if you want to add more doors, but don't want to do the selling yourself.   if you've been burned by hiring salespeople before, or if you're smart enough to want to avoid that mistake if your margins are too thin to gamble on another salary. If you have the operational capacity to handle 10 to 20 plus new doors every month, then it might be a fit. If you want predictable growth without the drama, it might be a fit. But here's the thing, a salesperson can only succeed if your business is ready for them. That's why Door Machine is only available to active members   of the DoorGrow Mastermind who have completed our rapid revamp. That means your brand, your website, your reviews, your pricing, your systems are dialed in first. We've watched too many property managers throw money at salespeople without fixing the foundation first, it never works. We refuse to set any of our salespeople up for failure like that. Without the foundation, a salesperson is wasted. With it, a salesperson becomes a weapon.   Let me break down what this actually costs versus what you're probably spending now trying to grow. So with door machine, you pay 50 % of the first month's rent when a door closes. That goes to the salesperson. They only get paid when they produce. Then there's a 20 % rev share, revenue share on the monthly management fee for the doors they add. That goes to door grow. And if it doesn't work, you pay $0. These are doors you wouldn't have gotten otherwise. Compare that to hiring   your own salesperson, $4,000 to $6,000 a month in salary, whether they produce or not, plus failed hires that cost 10 to 15,000 each, plus your time recruiting, training, managing, holding them accountable, plus opportunity costs of all the doors you're not adding. While you're stuck being the bottleneck, let me give you a quick example. Say the salesperson has 15 doors in their first month, average rent of $1,500, you get 50 % of the first month's rent is commission. Well, they do, the BDM does. That's about   $11,000. Now you're collecting $2,250 per month in the new management revenue. Our 20 % share is for $50. You keep $1,800 per month in the new recurring revenue, plus your leasing fees on those 15 doors, plus the long-term value as those owners stay with you for years. That's the difference between gambling on growth and guaranteeing it.   Many property managers are already spending 20 to 30 % of their top line revenue, not just the management fee. There's lots of ancillary fees you can make money on, but they're spending 20 to 30 % just to acquire new business. Or they're discounting the rates. They're dropping from 10 % to 8 % by two points. They're giving up 20 % just to get business on because the leads are cold and garbage. All right, I've given you the overview. I painted the picture. Now here's what I want you to do. I put together   a complete document that breaks down everything about the door machine, what's included, how it works, the timeline, the investment, the terms, FAQs, frequently asked questions, right? Everything, I want you to read it. Go to doorgrow.com slash door machine to download the full offer doc. I'll say that again, doorgrow.com slash door machine, one word. Or you can text the word door machine to   512-640-2092. That's 512-640-2092 and I'll send you the offer doc. That's my personal iPhone. I respond personally. This document is going to answer every question you have and if you read it and you're interested, we'll have a conversation to see if you're a fit. Important note.   Salesperson slots are limited by our training capacity. That's our biggest constraint. We maintain a wait list and place clients on a first come first serve basis, but only after they meet our requirements. We're looking for the best match, not just anyone who applies. I want to build multi-million dollar property management businesses with them. We're partnering in this way. That's the idea. I want to build multi-million dollar property management companies where it's a win-win-win for all three parties involved.   the BDM salesperson that works for us and DoorGrow. Look, here's the bottom line. You didn't start this business to be a part-time salesperson. You started to manage properties, to build freedom, to have freedom, to build something. But somewhere along the way, you became the bottleneck in your own company. The door machine is designed to fix that, to take the thing you hate, the thing you avoid, the thing that keeps you stuck and hand it off to someone who's trained to do it and held accountable to produce.   Our goal is to build multi-million dollar property management companies. I'm looking for long-term partners who want to grow with us, that I can continually invest in your business, that I can give you more and more of my attention and time to help improve your growth. If that sounds like you, go download the full offer doc at doorgo.com slash door machine. Stop being the bottleneck, start being the business owner. You've got better things to do than cold call investors. Let us handle it.   Okay, that's it. If you're feeling stuck and you're ready to take your property management business to the next level, reach out to us at doorgrow.com. We can help. For free training on getting unlimited leads, if you want to do this yourself, go to, just text the word leads to 512-648-4608 and join our free community for property management business owners at doorgrowclub.com.   If this episode helped you subscribe and leave a review, we'd really appreciate it. Until next time, remember, the slowest path to growth is to do it alone. So let's grow together. Bye everyone.

Jason Hull, the founder and CEO of DoorGrow, discusses with Ashton Thomas the concept of marrying private equity with property management operations. Ashton Thomas is a third-generation real estate broker in Central Florida, she got her real estate license right after graduating high school and, in February 2019, opened her own brokerage. She decided to start her own brokerage and grew to about 25 agents, but she realized she preferred property management and did not like dealing with realtors and their recurring issues, and shifted her focus after property management "fell into her lap" when employees from a failing company approached her You'll Learn (00:45) Introduction and Ashton Thomas's Background  (03:46) The Audacity to Start a Brokerage at 23  (07:16) The Marriage of Private Equity and Property Management  (07:42) Benjamin Hardy's "Science of Scaling"  (12:31) Understanding Private Equity and the Roll Up Strategy  (17:58) The Advantage of Property Managers in Roll Ups  (19:10) Advice for Getting into Private Equity  (22:29) Raising Capital and How to Connect with Ashton Thomas Quotables "I've been thinking too small. That's why it's been so hard." "That's like entrepreneurs worst nightmare is to be feeling stuck and feeling like I'm not moving and I'm not getting traction and I'm not accomplishing anything." "The slowest, absolute slowest path to growth is to do it alone." Resources DoorGrow and Scale Mastermind DoorGrow Academy DoorGrow on YouTube DoorGrowClub DoorGrowLive Transcript Jason Hull (00:00) All right, five, four, three, two, one. Hello everybody, I'm Jason Hull, the founder and CEO of DoorGrow, the world's leading and most comprehensive coaching and consulting firm for long-term residential property management entrepreneurs. For over a decade and a half, we've brought innovative strategies and optimization to the property management industry. 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. Now, let's get into the show. All right, so my guest today is Ashton Thomas. Welcome, Ashton. Ashton (00:43) Thank you for having me. Jason Hull (00:45) So Ashton is a client of ours, but she also is a badass. And so Ashen, I would love for people to get to know you a little bit, share a little bit of your background. How did you get into real estate and property management and all of this?   Ashton (01:02) Yeah, absolutely. So I'm actually a third generation real estate broker in central Florida. My granddad started in Orlando like way back in the 60s. ⁓ Both my dad and my granddad, a lot of my uncles, they're all builders. So just kind of grew up in that real estate world. I was on a job site from when I was very little. ⁓ And so I always just had a love for homes, real estate, just   the whole nine years. When I was wrapping up high school about to go to college, my parents suggested, I always had like an entrepreneurial spirit, and my parents suggested that I get my real estate license. And I was like, you know what, it can't hurt to have that. So I went ahead and took the class, got the licensing as soon as I graduated high school. So I was actually a licensed realtor already working before I started my freshman year of   college. ⁓ Real estate has been so fascinating because I've been able to see so many changes over the last 12 years since I got into the industry. I started with new home sales construction, actually working for my parents, ⁓ really learned about what it took to run a sales center. And then I switched to traditional real estate, like what you think of a realtor doing now. ⁓ From there, I ended up opening my own brokerage.   Jason Hull (02:03) Wow.   Ashton (02:28) ⁓ in February of 2019. And then property management really just fell into my lap. There was a company that was going out of business because the owner was embezzling funds. And their employees actually came to me and said, you know, we would like to work with you. We'd like to work for you. And we're bringing these clients. So   I had never written a lease, seen, really even put my eyes or hands on a lease, never. This was two years ago, roughly. ⁓ And like just didn't have any property management experience at all. Figured out that we needed to get some systems in place right out of the gate. And I really took the next year, year and a half.   Jason Hull (02:59) how long ago.   Okay.   Ashton (03:22) to develop those. And Jason, you've been so instrumental in helping us succeed in those systems. You helped us identify the holes in our business and really figure out what we needed to do. ⁓ So at the time that I had brought on the property management side, and when I say property management for us, we do both long-term property management and short-term vacation rental. So I two separate sister companies that operate.   Jason Hull (03:51) Yeah.   Ashton (03:51) So ⁓ at the time I had roughly about 25 realtors that worked for me under the brokerage. I had really developed that, grown that. We were one of the largest Zillow Premier agent teams in central Florida at that time.   Jason Hull (04:13) Wait, can I ask you question about that?   Not very many agents start their own brokerage. What? mean, how, do you mind me asking age here? How old were you you started your brokerage and what gave you the audacity to decide to do this big thing?   Ashton (04:19) Mm-hmm.   I was 23 when I started my brokerage and the funny part was is I actually wanted to buy a brokerage first and I had this is a wild story you'll love this so you know you look back and you say what was I thinking like I had some guts and one of those stories   Jason Hull (04:33) Okay, go ahead.   Okay.   Okay.   Yeah   Ashton (04:55) So I had initially gone to this guy's office, he had four branches, local real estate agent, or a local real estate brokerage. I'd ⁓ developed his brokerage over like 50 years, had over 200 agents working for him. And I walk in and I asked to speak with the broker. He was there, they put me in the conference room. He thought that I wanted to become an agent working for him. Yeah. And I said, no, sir, I want to buy your company.   Jason Hull (05:19) That's the default.   my god.   Ashton (05:25) And   like, this was a total cold call. Like I had never talked with him before, never met him before. I ended up negotiating a price for the company ended up getting securing SBA financing. Everything had lined up so perfectly. And then a couple of weeks before we were actually going to be making it official. He decided that he wanted to, to sell his brokerage to a family member and not go through with me. And so.   Jason Hull (05:53) Wow.   Ashton (05:55) Honestly, in hindsight, that was the best thing that could have happened. I had no business running that large of a brokerage at 23 years old with no experience. ⁓ Over 200. Yeah. And I had secured a price for 2.4 million for the company. So with an earn out and it was just, it was going to be an insane deal if I could have like actually done that. But ⁓ I was   Jason Hull (06:05) How large was it? How many Asians? Okay, yeah, I mean massive, yeah.   Ashton (06:24) You know, everything happens for a reason. coming off of like the adrenaline rush from that not happening, I was like, you know what? I'm just going to start my own. Why not? So that's how I started when I was 23.   Jason Hull (06:26) Yeah.   Yeah.   I mean,   starting your own brokerage at 23 doesn't sound as crazy if you were already trying to buy 200 agent brokerage. Like, I'll just, you know, step it back a little bit.   Ashton (06:49) Mm-hmm.   Yes,   let's like crawl before we run. Oh, so that was originally what I wanted to do was just build up a massive, brokerage with lots of agents. And I thought that in my head was the dream. No, for me, it was not. I had grown to about 25 agents, like roughly like steadily and kept that number for a while. I realized that I   Jason Hull (06:56) Yeah. ⁓   Yeah.   Mm-hmm.   Ashton (07:21) to not like dealing with realtors and their issues over and over and over again, every day in and day out. It became like kind of toxic to me at least. And I went through and slashed a lot of agents jobs here ⁓ because it was either performance issues, attitude issues, whatever it was, they just were not the right fit for us. I ended up keeping a core five. ⁓   Jason Hull (07:32) Yeah.   Ashton (07:47) and they are phenomenal people with good ethics and good business sense who care about their clients and represent me and my company very, very well.   Jason Hull (07:58) What do feel like gave you the clarity to make that transition? Like, did you just wake up one morning or like, I don't like a lot of these people? Or how did you get clarity on what you really want?   Ashton (08:09) ⁓ One of the things was I told my office manager, I was so frustrated one morning, I told her, said, if one more person asks me another stupid question, I am gonna lose my mind. So I was fed up, I just couldn't deal with it anymore.   Jason Hull (08:23) Okay, we're just fed up.   Yeah, yeah. So I know when, when did that fit with you joining DoorGrow? Because I know you had worked on culture and we'd helped you figure out kind of what mattered to you and like, that align with, was that before you came on board? Was that after? When did you let go of all the... Okay. You don't move slow on anything, it sounds like.   Ashton (08:45) I don't want the same time. Yeah.   I try not to. I try not to. Honestly, I feel like that's where things go to die is if you move slow.   Jason Hull (08:57) Got it, yeah, right. Okay, cool, quick action taker. So obviously a very driven personality type. ⁓ And I know the topic that we were planning to talk about today is the marriage of private equity and property management, capital meets operations. So let's get into that. Again, you have big goals, big crazy goals.   Ashton (09:05) Thank you.   Yes.   Jason Hull (09:27) that sound pretty insane to most people. But you know, the people that are bold, that have the audacity to go after these big things, achieve big things. So what are you up to now?   Ashton (09:39) Yeah, so there's actually a great book by Dr. Benjamin Hardy. He has he's written like several and I know you're a big fan of Dr. Hardy's as well. He talks about like those impossible goals and how you really should and actually that one of his latest books, The Science of Scaling, is ⁓ really spurred me to action and not just having like a 10 year time frame, but like a three year time frame. And I can condense these goals.   what I want to do kind of vaguely into really specifics and get it done now. ⁓ So yeah, I would highly recommend anybody listening to also read his books.   Jason Hull (10:20) Yeah, agreed. Phenomenal book. I got to hear him speak down in Mexico and he hadn't released his book yet. And I was with a bunch of entrepreneurs that spent a lot of money to be there. And he all just walked out of the room with their mind blown. We were all just like, ⁓ I've been thinking too small. That's why it's been so hard. And it actually gets easier to grow and scale your business when you start thinking outside of your current mental limitations, which means it has to be something unrealistic or impossible.   Ashton (10:36) Mm-hmm.   Jason Hull (10:49) So that's been a game changer. I've done some episodes talking about this, but same thing for us. Like we've got some big things we're doing this year that are probably a bit ridiculous. And I don't know if we can pull it off, but if we do, DoorGrow will be the dominant player in the industry. And I already feel like we're a leader or leader, but this will be a game changer, some of the stuff that we have planned. And I've talked about it on previous episodes, just a little bit, what we're thinking of doing.   But I think it's going to be some of these things are going to be game changer. and we've got so many irons in the fire right now, like we move fast and it's bit crazy, but that's where the fun is too, right? In business. So I'd rather be lit on fire with too many ideas than be stuck. And I've been that way before where I'm like, what should I do next? know, I work on.   Ashton (11:35) That's like   entrepreneurs worst nightmare is to be feeling stuck and feeling like I'm not moving and I'm not getting traction and I'm not accomplishing anything. That is like absolute hell for us, isn't it?   Jason Hull (11:45) Yeah.   Yeah, I usually joke that entrepreneurs don't care about being happy or sad. They care about whether they're in momentum or whether they're stuck. And when we're stuck, damned, blocked, frustrated, that is hell. That's like, that's hell for us. We're miserable. And yeah, and it kills our motivation, everything. But when we're in momentum, that's the drug we crave. We want to feel like we're making progress and moving forward. And so   I'm that drug dealer. That's what I give out to clients. Like I'm like, let's go. That's hopium. So got to give them some hope. And then they're excited and believe they can do it. But yeah, if you believe you can do something big and you've got a big vision, a big dream, yeah, you start to find new pathways. You start to find new ideas. And so you're working on some crazy stuff. So let's talk about capital meets operations. How do we marry private equity with property management? And could other property managers do this?   Ashton (12:21) You do.   Jason Hull (12:47) excited to hear.   Ashton (12:47) Yeah,   absolutely. So I started in the private equity world really recently. It was like January of this year. And I feel like I've just been drinking out of a fire hose, like learning and being in, I've just made sure to put myself in the right rooms where I'm just like absorbing knowledge and information and wisdom from people and family offices that have been doing this so much longer than I.   Jason Hull (13:13) You've been really focused on learning the private equity space, which a lot of people, that's like some crazy thing they don't really maybe even understand. They're like, oh, don't know how it works. And you decided, hey, want get in on this.   Ashton (13:25) Yeah. ⁓ go   ahead. What was that?   Jason Hull (13:30) You said, I want to get in on this and learn about this and started figuring it out. All right, I'm going to plug our sponsor real quick, who you use, Vendoroo. How's it going with Vendoroo?   Ashton (13:33) Yes. ⁓   And here's amazing. We love them. They they honestly they take care of everything. They're really good about communication. I think they're they're phenomenal. They've been a game changer for us for our day to day ops.   Jason Hull (13:54) Okay, cool. I mean, it's So let me read this and then we'll get back into the show. So many of you tell me that maintenance is probably the least enjoyable part of being a property manager and definitely the most time consuming. But what if you could cut that workload by up to 85 percent? That's exactly what Vendero has achieved. They've leveraged cutting edge AI technology to handle nearly all of your maintenance tasks from initiating work orders and troubleshooting to coordinating with vendors and reporting.   This AI doesn't just automate, it becomes your ideal employee, learning your preferences and executing tasks flawlessly, never needing a day off and never quitting. This frees you up to focus on the critical tasks that really move the needle for your business, whether that's refining operations, expanding your portfolio, or even just taking a well-deserved break. Don't let maintenance drag you down. Step up your property management game with Vendero. Visit vendero.ai slash door grow.   today and make this the last maintenance hire you'll ever need. All right, cool. So let's talk about this private equity stuff. Help me understand what it is. I'm fairly ignorant, so.   Ashton (14:59) Hmm   So basically, I mean, it's a very big term, private equity, and it can span over so many different asset classes. And I think that's one of, I'm sidetracking a little just a minute, but like, I think that's one of my favorite parts about the private equity and PE industry is because you can meet somebody in your same asset class and they're doing something totally different. Like for instance, you know, what you're teaching Jason with the property management and like these operators and entrepreneurs who are   owner operators really, you're teaching us the same framework and we're doing the same exact thing, which there's nothing wrong with that. That's great. That works. It's systemized. In private equity, it's all wild cards. There's a lot of structure to it, but at the same time, everybody can be doing something different. And you're not in competition truly because you all have your own unique spin on it. So it's cool. But what it means is that ⁓ if, so our firm,   we bring in investor capital, ⁓ either through debt or equity. And then our investors trust us. We let them know like what we're investing in. usually have like a it depends on the type of investment. So I try not to get too technical here. It depends on the type of investment, but we let them know, hey, we're investing in XYZ companies, or we're investing in hard assets with like purchasing real estate that meet these certain criteria. So instead of   these investors taking their money and putting it into the stock market, they are putting it with private firms because the stock market is the public equities. then private equity is these private individually owned firms ⁓ that I mean, you have really large ones like BlackRock and Blackstone and ⁓ all of those. And then you have a lot of small ones like myself who are just getting off the ground. We don't have a lot of assets under management yet.   But as we develop that investor base, we're just going to keep that ball rolling and continuing.   Jason Hull (17:04) Yeah, so there's booty   firms, there's gigantic ones, there's lots of different categories of asset classes that they might be involved or invested in. And so somebody can pick a private equity company or something to partner with or get involved with that kind of is involved with the asset classes that they feel comfortable.   Ashton (17:23) Yeah,   absolutely. like, there's some, ⁓ like for us, we're real estate based and specifically Florida based real estate. There's, have friends who own hedge funds and that's all they do is hedge funds and specifically in like just in gold or in like just in commodities. We, there's people who are running funds based on really specific short-term rentals or within a five mile radius of national parks. So it gets down really, really, really specific.   ⁓ Up until like you large firms with very large funds and they have a diversified asset class over You know, they have hedge funds. They they're doing running venture They're doing ⁓ you know Secondaries they're actually in like the private equity sphere there. So it just really depends on on the firm itself and you want to make sure as if there's any investors listening you want to make sure that ⁓ your you fit with   how that firm is treating your money and running your money, and that it aligns with your goals, obviously, not just monetarily, but also with what they're investing in.   Jason Hull (18:32) Right, got it. Okay. And so how can property managers start to get involved in this and create this marriage? What are you doing?   Ashton (18:43) Yeah, so we're kind of doing it a little bit backwards. Most private equity firms, they start with raising capital and then they're going out and buying the asset and then they're outsourcing their vendors. So one of those vendors being property management and that's really where the gains and losses are happening is in the daily management style there. Then they realize and typically restructure   that they could be making more money. They could be increasing their bottom lines and everything else with that management. Everything hinges on the management when you're talking like hard assets in real estate, whether that's multifamily commercial, you know, residence, whatever it is. ⁓ So when they bring it in-house, they are restructuring. And there's also been a huge problem with   Jason Hull (19:36) Yeah.   Ashton (19:41) And I've been hearing this lately, huge problem with investor capital really not being watched out for by these firms because they're outsourcing all their vendors. What we did instead is I had already have the acquisition engine through our brokerage. We've already got all the systems set up in place for our property management firms, both short and long. Now we added the private equity firm. I have a series 65. So we're actually a state registered   Jason Hull (19:51) Right.   Ashton (20:10) like investment advisory firm for true asset management on the back end, which a lot of private equity firms do not have that. And then we added the capital. So we literally just did it backwards. And now we're focused on acquiring not only hard assets with cash flowing tenant occupied portfolios that meet certain metrics. We have to have a certain   Jason Hull (20:12) Okay.   Okay.   .   Ashton (20:37) IRR, we have to have a certain cap rate and a certain cash on cash return to even peak our interest. The other thing that we're buying is property management businesses. So we are working on acquisitions right now. We just completed one last week and we've got two more in the hopper. So we are going in and offering these off-market portfolios, know, minimum 20 up to, you   We have no limit on how many we'll buy, like minimum 20 units and we want creative financing. So we want to structure the deal where the seller and the owner is holding the majority of that note. We're using investor capital for the down payment. We're saving some to hedge for ⁓ reserves and we're going in and buying these companies to add to our revenue and our to our bottom line.   Jason Hull (21:35) I love it.   Ashton (21:36) Roll   up. That's the name and the term that's used in the private equity space is roll up.   Jason Hull (21:42) Roll-up, got it. So I've seen some of these companies in the past. I had a client, he eventually exited and sold his business to Home River Group. He had like 2,000 doors. So then he was kind more of a partner in Home River Group, 30,000 eventually. And he became kind of a consultant that would come in and these roll-ups that were being done in some instances, because they did it the reverse way from what you did, they thought they could just throw money at the problem.   So they went and acquired a whole bunch of property management companies. Sometimes, like some companies would acquire like 10,000 doors. Then they would fire like 7,000 of them because they realized there was so much garbage and it was difficult to manage. And then they thought they could just put in or install a property manager in and then the business would just run. But no real leadership for the boots on the ground. And so they would bring him in as a consultant. He would go in, fire everybody.   Ashton (22:34) Mm.   Jason Hull (22:42) organize a team, build a business and act as an interim CEO till he got the thing healthy and running. And he would make a lot of money because they were losing a lot of money trying to make this work. And people don't realize how hard property management can be. And so I think, yes, property managers have an advantage because they have the hardest piece of this entire puzzle, it sounds like.   Ashton (23:05) Yeah, it definitely is because you're dealing with you're dealing with tenants, you're dealing with the day to day your you are the boots on the ground. So that is why it is so important before we started any of this, I wanted to make sure that we had the proper systems in place that we could scale 500 more doors without blinking an eye. That is where you have to have that mindset and like you have to know what's going on before adding because when you just add   doors and just think that exactly what you said add doors and thinking that that's just going to like solve your problem you're just multiplying your problem whatever problems you have at 20 doors is going to be 10 fold at a thousand doors or more so ⁓ and more just doesn't necessarily equal better and that is one reason like in our contracts we actually do have clawbacks so if we do end up getting rid of owners that just aren't a fit   our purchase price is reduced down from the seller. So it gives the seller an incentive to ensure that they're selling us a good.   Jason Hull (24:11) Got it, yeah, that's important to have all that's in any sort of acquisition deal. So for other property managers that are looking to get into private equity and they're looking at maybe starting to do this, because they're like, you know what, I've got a healthy property management company, we've got the systems in place, is there somebody that I can partner with on this that already knows how to do it or can I go and learn to do this?   What would you say between those two options and where would you send them?   Ashton (24:43) Really? It depends on the person. This isn't for everybody. know, you, what I would recommend, and this is honestly what I tell anybody, no matter what business they're in, if they're thinking about growing, where do you want to be in three years? And let's reverse engineer it from there. So if you want to, like for us, our, our plan is to roll up to about 5,500 doors and then exit. So   Jason Hull (24:45) Yeah.   Got it.   Ashton (25:12) I already knew where I wanted to be. And so like, I wanted to exit at a certain amount. So I was like, how do I get to this amount? And then I just backed it up from there. ⁓ but that's, everybody's going to have a different goal. So I would highly recommend just like starting with that initial goal. that's, if that goal is freedom, if it is like, you want to be able to exit, you want to have, you want to just run a massive company, whatever it is, start there and then figure it out backwards.   Jason Hull (25:21) Okay.   Ashton (25:41) As far as bringing on capital and investor capital, whether they want to partner with somebody or if they want to like bring on debt, that's also a comfort level thing. ⁓ And it also depends on like what you and that other person that's bringing in the capital agree to and what you both feel like is the optimal solution. But before doing that, definitely educate yourself and find someone ⁓ either as a consultant like   Right now I am doing a little bit of consulting work for ⁓ different ⁓ funds as well as like companies like, you know, like what we're doing ⁓ for, you know, to help them with what their goals are. Let's back it up and then let's go from there. And like just adding some advice and getting them in touch with the right people that they need as far as connections. Analysts, numbers are so important when you're talking with investors.   You can't just be like, I think it's going to make this an investor, especially a sophisticated one is not going to go for that. Maybe friends and family will what I call country club money, but ⁓ a sophisticated investor, absolutely not. They're going to want to see a pro forma. ⁓ So there's so many steps involved before you ever, ever, ever bring on a dime of investor capital. So.   Jason Hull (26:51) Yep.   Ashton (27:09) I'm sorry, that's not like a ⁓ space.   Jason Hull (27:10) So, well, it sounds like   the path is maybe this. Like if you're a property manager first, you got to get your side of the room clean. You got to get your business tight. You got to get operations working, maybe reach out to DoorGro, get a little help, but you got to get things really well dialed in because it doesn't make sense to go start playing with other people's money and be on the hook for other people's money and investors.   Ashton (27:20) Yes.   was not.   Jason Hull (27:36) if you don't really feel like you have the ability to scale, you don't really feel like you can handle stuff, because if once money starts flowing and doors start adding, then if your stuff is okay, it's going to be stress tested and probably not okay. So that's probably first. Next, they need to learn about private equity, figure out that game, and then even once you figure out how that all works, then you've got to get good at selling it, which you are already a natural, you know...   Ashton (27:51) Yeah, exactly.   Jason Hull (28:05) Salesperson, you've invested a lot towards figuring that out, but then you're going out and you have to raise the cap.   Ashton (28:11) Raising capital is literally one of the hardest jobs. It is insane because you want to build a relationship and you want someone to trust you, but you're also asking for a check. And so it's trying to balance the relationship aspect as well as the transactional aspect. And it's even harder as a woman because private equity is definitely, ⁓ there's not a lot of women in this field.   Jason Hull (28:32) Yeah.   Ashton (28:41) ⁓ so it's even harder being like of the opposite gender. ⁓ so there's a lot to balance there. so getting, getting comfortable asking, but not being pushy. It's that I've learned so much from.   Jason Hull (28:56) As a woman, you've had   to take maybe a more feminine approach or you go in hot the way most guys would.   Ashton (29:04) It depends on the person.   It depends on my audience. You have to sell the way somebody wants to buy. So I've learned not to, at the beginning, I was definitely very transactional. And I've learned ⁓ through a dear friend of mine that to be more relationship-based and then that will come a little bit later with the transaction. ⁓ But at the same time, because I'm like,   Jason Hull (29:11) Yeah.   Mm-hmm.   Ashton (29:32) I need to know now. Like, I don't want to waste my time. I don't want to waste their time. We just need to lay it out on the table right now. They need to know what I'm here for. ⁓ I've had to like roll that back a little bit. And since I have, the checks have been definitely coming in a little bit smoother. So it was a huge learning experience for me.   Jason Hull (29:51) Yeah.   Ashton, how old are you right now for those listening? All they've heard is 23.   Ashton (29:59) I'm 30 now.   Jason Hull (30:01) 30 now, okay, you're 30 years old, you're doing amazing things. What amount of capital are you raising right now? Like what's your goal?   Ashton (30:05) Yeah.   Yeah, so we do different like rounds or like tranches of raising and it right now we are raising for specific projects. So as the projects come up, then we go out to our current investors first and then to like new potential investors next. ⁓ So in the spring, we're about to start doing another raise for ⁓ one, a business and then two, a couple other. ⁓   real estate portfolios that I'm looking at. ⁓ So that is going to be around the $800,000 mark of capital. And typically we do like minimum commitments of 100 because when you get into smaller amounts, typically the investors that are, I just become a little bit more needy because they're only, they're not as sophisticated and we want to deal with the investors who are.   Jason Hull (31:06) Got it. Yeah, that makes sense. Very cool. Sounds like you're doing really cool things. So Ashton, for those that are listening and they're curious about you, they're curious about maybe getting into this, you mentioned you do some consulting, you mentioned there may be investors or maybe they want to get in on some of the investing stuff that you're doing. How can they get in touch with you?   Ashton (31:29) Yeah, so they can send us an email. That would be the best way to you can send it to info at FX to capital calm. ⁓ And we, you know, are one of our interns checks that email on the daily. ⁓ So then we can set up an investor call and go through really well what your goals are. What is your portfolio look like right now?   How are you diversifying yourself? And maybe we can talk about what we can do to help increase that, maybe rebalance you a little bit within the private space and in the private markets.   Jason Hull (32:06) Cool, well property managers, if you're listening, I think Ashton's definitely doing something that's very cool. A lot of you probably could get in on this or create some sort of alliance or relationships that could allow you to be part of something like this. Even if it's just you're getting doors from other people that are in the private equity space that are rolling up a bunch of investment properties, this would be easy doors for you to get on if you really could do a good job. And it sounds like that's the linchpin, that's the hardest piece of the puzzle.   And if you're a good property manager, you've got that down then. So you've got a competitive advantage. So Ashwin, I appreciate you coming on and sharing this here on the board.   Ashton (32:43) Thank you.   Yeah, that was so much fun. It was so great talking to you.   Jason Hull (32:48) Awesome, so we'll go ahead and wrap up. For those of you that are feeling stuck, stagnant, you want to take your property management business to the next level, reach out to us at doorgrow.com for a free training on how to get unlimited free leads. Text the word leads to 512-648-4608. Also join our free Facebook community. It's just for property management business owners at doorgrowclub.com. And if you want tips, tricks, ideas to learn maybe about some of our offers,   subscribe to our newsletter by going to doorgrow.com slash subscribe. And if you found this even a little bit helpful, don't forget to subscribe, leave us a review. Anything like that would really help us out. We would appreciate it. And until next time, remember, the slowest, absolute slowest path to growth is to do it alone. And you heard Ashton, she's leveraging a lot of people to do what she's doing to grow. So let's grow together. Bye everyone.

Zach Posey joins us to explain how he's acquired various house hacks and grown a significant net worth all while having a demanding W2 career! Zach starts off by detailing the acquisition of his first house hack and the hurdles that came almost immediately after closing. He talks about purchasing an oversized 4-unit building, seeing value-add potential, and executing a renovation strategy to create equity! Zach gives property management insights for house hackers which are centered around doing right by tenants and people in general. He explains the ins and outs of acquiring a property by assuming a VA loan. Throughout the episode, Zach demonstrates that growing a portfolio as a busy professional is doable and that the financial reward far outweighs the work that is required! 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 Properties for Sale on the North Side?  We want to buy them. Email: StraightUpChicagoInvestor@gmail.com Have a vacancy? We can place your next tenant and give you back 30-40 hours of your time. Learn more: GCRealtyInc.com/tenant-placement Has Property Mgmt become an opportunity cost for you? Let us lower your risk and give you your time back to grow. Learn more: GCRealtyinc.com ============= Guest: Zach Posey, Chicago Multifamily Club Link: Chicago Multifamily Club Meetup Link: Wisdom Takes Work (Book Recommendation) Link: SUCI Ep 52 - Aaron Zimmerman Link: SUCI Ep 326 - RJ de Leon Guest Questions:  01:58 Housing Provider Tip - Understand easy fixes for malfunctioning garbage disposals! 03:57 Intro to our guest, Zach Posey! 07:38 Starting off with a 4-unit house hack. 17:25 Acquiring a second house hack in Roscoe Village. 26:28 Property Management tips for house hackers! 28:44 Leveraging assumable loans to make the numbers pencil. 34:41 The value of networking events. 37:40 Zach's REI goals and outlook on Chicago! 42:42 What is your competitive advantage? 43:13 One piece of advice for new investors. 43:35 What do you do for fun? 43:50 Good book, podcast, or self development activity that you would recommend?  44:40 Local Network Recommendation?  45:39 How can the listeners learn more about you and provide value to you? ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2026.

The Kevin Dairaghi Show returns with all new episodes Monday February 23rd! Yes we are moving to Mondays, Kevin's favorite day of the week! - - - - - Join us today as we spotlight a special friend of the podcast and the one who goes back all the way to episode 17... I mean, we were just blown away. If you want anybody managing your rental properties for you, don't you want it to be the one recognizes tenants only call on their worse days and takes the emotion out of it to serve them the best they can? This and more in today's spotlight! Call Adam Droege at Complete Realty Solutions at (314) 325-8328 and tell them Kevin sent ya! We will see you February 23rd with the Season 3 Opener!

Steve Carran & David Millili sit down with Mark Harmon, Founder of Auberge Resorts Collection, on this episode of The Modern Hotelier.From studying law at Princeton and UC Law to becoming one of the most influential leaders in luxury hospitality, Mark shares how he transitioned from Silicon Valley attorney to visionary hotel developer behind some of the most iconic boutique resorts in the world.Mark also shares his philosophy on leadership, empathy, innovation, and why hospitality is ultimately about creating meaningful experiences — not just rooms.In this episode, we explore:How Auberge Resorts redefined luxury hospitalityWhy 50-room hotels can be wildly profitableThe power of design, real estate, and residential-style experiencesWorkforce housing challenges in resort marketsAdvice for the next generation of hospitality leadersWatch the FULL EPISODE on YouTube: https://youtu.be/luY77HXb6f0Links:Mark on LinkedIn: https://www.linkedin.com/in/mark-harmon-2184851/Auberge Resorts: https://auberge.com/For full show notes head to: https://themodernhotelier.com/episode/250Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

Chapters:00:00 Introduction to Investment Decisions02:36 Understanding Exit Strategies05:13 Evaluating Investment Metrics08:13 The Importance of Conservative Underwriting10:32 Return on Effort in Investments     We're here to help create real estate entrepreneurs... About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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ABOUT BEN MURPHYBen has a proven track record of successfully closing approximately $600 million in multifamily transactions in Oregon and SW Washington since 2014. His outstanding market relationships and reputation are best in class and will significantly enhance our existing reach across all divisions that we work. Beyond his professional accomplishments, Ben is a dedicated supporter of environmental causes, actively contributing to organizations such as the Nature Conservancy and Greenpeace. Additionally, he serves as a member of the Multifamily Northwest Government Affairs Committee. THIS TOPIC IN A NUTSHELL:  ·         Guest Introduction – background and journey in real estate·         Blue State vs. Sunbelt Investing·         Market Cycles & Supply Trends ·         Current Lending Environment·         Multifamily Distress Reality Check ·         Broker Metrics & Prospecting Data ·         Cap Rate Expansion & Value Decline ·         Expense Pressure on NOI ·         Transaction Volume Slowdown ·         Outlook for 2026 & Market Bottom ·         Affordable Housing & Policy Challenges ·         Preparing Assets for Sale ·         Connect with Ben  KEY QUOTE:  “The best real estate strategies are built for decades, not market cycles.”  ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professionals that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.   #RealEstateInvesting #CommercialRealEstate #MultifamilyInvesting #CREInvestor #MultifamilyRealEstate #ApartmentInvesting #RealAssets #HardAssets #LongTermInvesting #BuyAndHold #CashFlowInvesting #CapRate #ValueAddRealEstate #RealEstatePortfolio #WealthBuilding #InflationHedge #InvestmentStrategy #PassiveIncome #RealEstateMarket #InvestorMindset #BlueStateInvesting #MarketCycles #RiskAdjustedReturns #CapitalPreservation #SmartCapital #CREWealth #FinancialFreedom #RealEstateEducation #ProfessionalInvestors #GenerationalWealth CONNECT WITH BEN MURPHY:Email: ben.murphy@cinw.com LinkedIn: https://www.linkedin.com/in/ben-murphy-35968935 CONNECT WITH US   For more information about investing with AJ and Chris:  ·    Uptown Syndication | https://www.uptownsyndication.com/  ·    LinkedIn | https://www.linkedin.com/company/71673294/admin/   For information on Portland Property Management:  ·    Uptown Properties | http://www.uptownpm.com  ·    Youtube | @UptownProperties     Westside Investors Network  ·    Website | https://www.westsideinvestorsnetwork.com/  ·    Twitter | https://twitter.com/WIN_pdx  ·    Instagram | @westsideinvestorsnetwork  ·    LinkedIn | https://www.linkedin.com/groups/13949165/  ·    Facebook | @WestsideInvestorsNetwork  ·    Tiktok| @WestsideInvestorsNetwork  ·    Youtube | @WestsideInvestorsNetwork  

In this solo episode, Axel breaks down a simple but highly effective 3-step framework his team uses to get sellers to accept more offers, without being the highest bidder.Rather than focusing purely on price, Axel explains how clarity, credibility, and execution certainty often matter more to sellers than squeezing out an extra few dollars per unit. He walks through how small adjustments in communication, timing, and offer structure can dramatically increase acceptance rates, especially in today's more efficient market.Axel also shares an update on the final capital raise for NH Multifamily Fund III, outlining what the fund targets, how it's structured, and who it's best suited for as the team prepares to deploy capital in 2026. (See below links to learn more!)This episode is designed for operators who want more deals under contract and investors who want insight into how capital is being positioned going forward.Join us as we dive into:Why sellers care more about certainty than headline pricingThe 3-step process Axel uses to improve offer acceptance ratesHow positioning yourself as an “easy buyer” changes negotiationsWhy speed and clarity can outweigh aggressive termsHow to communicate credibility without overcomplicating offersCommon mistakes investors make when submitting offersHow today's market rewards operators who execute cleanlyAn overview of NH Multifamily Fund IIIWhat types of deals the fund is targetingWhy this is the final close for the current fundAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.NH Multifamily Fund III Details:Register for the NH Multifamily Fund III webinar tonight (2/10)Access the NH Multifamily Fund III deal roomConnect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners

In this episode, Lady Landlords founder, Becky Nova…sits down with Ryan to talk about RentRedi, an all-in-one property management software designed to help small landlords self-manage with ease. Learn more about RentRedi here and get half off your 1st year when you use the Code: LadyLandlordsHave questions about the Lady Landlords DR Property Tour? Email Becky at Becky@lady-landlords.com or book a call here: https://lady-landlords.com/pd-chat-with-becky===

What does it really take to grow a property management company from scratch and do it while building a life outside the business? In this episode, Marc Cunningham sits down with Carson Hamann of Bobcat Property Management to unpack her journey from buying her first rental at 18 years old to running a 275-door property management company in Northern Nevada. Carson shares how she grew mostly organically, what she learned from acquiring (and later shedding) doors early on, and how she built professionalism and confidence as a young operator in a traditionally male-dominated industry. The conversation dives into work ethic, mindset, hiring challenges, setting boundaries as a kind-hearted leader, and the systems that helped Carson manage growth without burning out. Carson also explains how she generates consistent owner leads, often averaging one per day, largely through agent referrals and Google reviews, without heavy ad spend. This episode is an honest look at sustainable growth, leadership development, and balancing ambition with family, motherhood, and life outside the office. Bobcat Property Management Upkeep Media: Get a free property management lead gen analysis Property Manager Websites - the highest performing property management website in the industry Venderoo- An always-on AI teammate to handle all aspects of maintenance Lead Simple - manage more doors with less stress using LeadSimple Rentvine - the property management software you can trust   Lending One - real estate loans for investors   Reconcile Daily - corporate & trust accounting experts   PMbuild - Marc's education for property managers   Denver Property Management - Grace Property Management website   This podcast is produced by Two Brothers Creative.  

In today's episode, David Millili and Steve Carran sit down with Ashley NeQuent, Director of Product Strategy at Jonas Hospitality, for an in-depth conversation about hotel tech, operations, and creating unforgettable guest experiences. We kick things off with a lightning round to get to know Ashley, then dive into her journey from working at a small resort in upstate New York to leading product strategy for one of the biggest names in hospitality tech. Along the way, Ashley shares:How mentorship and teamwork shaped her early career in hotelsMoving from front desk to tech leadership in hospitalityThe power of unified tech stacks and breaking down siloed hotel systemsUsing data to personalize guest experiences without losing the human touchWatch the FULL EPISODE on YouTube: https://youtu.be/NKlc9_j_AQc Links:Ashley on LinkedIn: https://www.linkedin.com/in/ashleybooton/Jonas Hospitality: https://www.jonashospitality.com/Jonas Hospitality on LinkedIn: https://www.linkedin.com/company/jonas-hospitality/For full show notes head to: https://themodernhotelier.com/episode/249Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

In this episode of Married to Property Management, Jim and Melissa talk about one of the most gatekept topics in the property management industry: employee retention.Turnover is expensive, burnout is common, and somehow the real strategies for keeping good people never get shared. We're breaking down what actually works, why it matters, and how retaining the right team directly impacts owners, residents, and the overall success of a property management company.No secrets. No fluff. Just real talk.

In this episode, a powerhouse panel of female real estate investors breaks down exactly how they find and close profitable off‑market deals—even while juggling full-time jobs, businesses, and motherhood. You'll hear real stories from  investors using house hacking, BRRRR, flipping, new construction, and short‑term rentals to build wealth and design a lifestyle they love.You'll hear...When it's time to pivot from on‑market to off‑market real estate dealsRelationship-based lead generation: community groups, contractors, social media, Instagram, and Facebook groupsOvercoming imposter syndrome and confidently telling people “I'm a real estate investor”Negotiating with sellers, creative financing, and solving seller problems with compassionFollow-up systems, referrals, and paying meaningful referral feesWhether getting your real estate license as an investor actually makes senseThis episode is perfect for beginners to experienced investors who want more deal flow without sacrificing their lifestyle.  Resources:Simplify how you manage your rentals with TurboTenantGet in touch with Envy Investment GroupMake sure your name is on the list to secure your spot in The WIIRE Community Leave us a review on Apple PodcastsLeave us a review on SpotifyJoin our private Facebook CommunityConnect with us on Instagram

In this episode of the Real Estate Pros podcast, host Michelle Kesil interviews André Dénommée, a seasoned real estate investor and property manager. André shares his journey from military service to real estate, detailing how he started his business during the pandemic and the growth he has experienced since. He discusses the importance of organization, networking, and social media in building a successful property management business. André also emphasizes the significance of education for new investors and shares his plans for community service and future business expansion.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

What you'll learn in this episode:● The difference between short-term and long-term rental markets● Why vacation-driven markets with limited hotels are the best investment● How to choose markets that maximize cash flow● The #1 mistake investors make when buying their first Airbnb● Why Avery avoids “emerging markets” everyone is hyping online● How to scale a short-term rental business efficiently (even with a full-time job)● How to out-host the competition and treat rentals like a real business● How regulations impact profitability—and how to choose markets that protect you● Avery's journey from one rental to a 250+ property empire To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan RochonTeach to Sell Preorder: Teach to Sell: Why Top Performers Never Sell – And What They Do Instead

Unlock the real foundation of successful investing with the 4 M's of real estate: Management, Money, Marketing, and Maintenance. Discover how each of the 4 M's works, why they matter, and how one weak link can cause your entire property to underperform.

How does a pro snowboarder become a hospitality innovator?Join David Millili and Steve Carran as they sit down with Bradley Steward, Co-founder and President of Caravan Outpost, to explore an extraordinary journey from professional snowboarding to creating one of America's most unique boutique hospitality experiences.In this episode, you'll discover:The transition from sports to media, directing projects for Cartoon Network, Adult Swim, and even influencing early Jackass.How he co-founded Bonfire Snowboarding, turning it into a global apparel brand before selling to Adidas.The inspiration behind Caravan Outpost, and how he and his wife designed it as an experiential travel destination, blending luxury, community, and the outdoors.Tips for independent hoteliers and entrepreneurs on creating a brand that fosters emotional connections rather than just products.Get ready for candid stories, unexpected adventures, and behind-the-scenes moments from snowboarding competitions, Hollywood projects, and a luxury outdoor retreat that feels more like a community than a hotel.  Watch the FULL EPISODE on YouTube: https://youtu.be/leosxe5M0-0 Links:Bradley on LinkedIn: https://www.linkedin.com/in/bradley-steward-7b829a23/Caravan Outpost: https://caravanoutpostojai.com/For full show notes head to: https://themodernhotelier.com/episode/248Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

What happens when one of the largest centralized property managers in short-term rentals meets a deeply local, franchise-driven model? In this episode of The STR Data Lab, AirDNA's Chief Economist Jamie Lane sits down with Steve Schwab, CEO of Casago, to unpack one of the most consequential industry shifts of the past decade: the Vacasa–Casago merger.Steve shares an honest, behind-the-scenes look at how the integration is unfolding — from transitioning thousands of homes and teammates to rethinking how scale, culture, and accountability actually work in hospitality. The conversation goes beyond headlines to explore why local ownership, empowered teams, and owner-centric decision-making may be the antidote to the operational strain that has challenged large STR operators in recent years.Along the way, Jamie and Steve dive into franchise economics, technology complexity, churn as a health metric, and the often-underestimated skill that separates top-tier operators from the rest. Whether you're an independent host, a growing property manager, or an industry professional watching STR evolve in real time, this episode offers a rare perspective on where the business is headed — and what it takes to build something that lasts.This is one conversation that will change how you think about scale, leadership, and success in short-term rentals — you don't want to miss it.Key Takeaways You Can Apply TodayLocal ownership matters more than ever: Empowered, in-market operators create stronger relationships with homeowners, guests, and communities — and reduce churn.Scale isn't just about size: Breaking operations into locally accountable units can avoid the “dis-economies” that plague centralized models.Technology complexity is the silent killer: From PMS integrations to revenue management and accounting, STR operations are far deeper than they appear — especially in year one.Churn is a health check, not just a metric: Monitoring churn at both the market and portfolio level reveals operational and cultural issues early.The best operators know when to say no: Curating the right inventory, homeowners, and guests is often what separates top-performing property managers from underperformers.Sign up for AirDNA for FREE

What if your hotel could know exactly what your guests want before they even check in — and deliver it automatically? In this episode, David Millili and Steve Carran sit down with Scott Buelter, CEO of Ascent 360, to dive into the transformative power of AI, data, and personalization in the hospitality industry.In this episode you'll learn about:How hotels are using Customer Data Platforms (CDPs) to unify guest data from multiple systems.The current and future role of AI in hospitality, from marketing automation to operational efficiency.How AI can support staff rather than replace them, improving the human touch in guest interactions.The shift from providing tools to delivering outcomes, and why marketers who embrace AI will thrive.If you want to understand how AI and data are shaping the next generation of hotel marketing, guest experiences, and operational efficiency, this episode is a must-watch.Watch the FULL EPISODE on YouTube: https://youtu.be/wM8cOSoRIXsThis episode is sponsored by Ascent360: https://ascent360.com/ Links:Scott on LinkedIn: https://www.linkedin.com/in/scottbuelter/Ascent360: https://ascent360.com/For full show notes head to: https://themodernhotelier.com/episode/247Follow on LinkedIn: https://www.linkedin.com/company/the-...Join the conversation on today's episode on The Modern Hotelier LinkedIn pageConnect with Steve and David:Steve: https://www.linkedin.com/in/%F0%9F%8E...David: https://www.linkedin.com/in/david-mil.

If you've ever worried about calling up a lawyer, where your rentals are located, only to not get help and get a big bill - well, you can reduce that chance by doing your homework in advance.  Tim Baldwin, Florida Real Estate Attorney, was a guest on My Life As a Landlord in Episode 183.  Today, he's back impacting the landlording world by interviewing me on his podcast called “Property Management Law Solutions”.  In this show, we discuss common pitfalls new landlords have, when to know if you should even be a landlord at all, and what to look for in hiring a property manager.  Join me and Tim on today's practical landlording show, and learn a nugget or two!

In this episode of the podcast, we're tackling a question many female real estate investors face: Should you invest in real estate if you have credit card debt? We share how tools like 0% APR cards can be used strategically for renovations—when you have the cash and discipline to pay them off—while explaining why it's nearly impossible to out-invest 20–30% credit card interest. We break down key red flags, including making only minimum payments, having no emergency reserves, and relying on rental cash flow to cover interest with no plan to eliminate principal.We walk through a few cases where investing while carrying debt might make sense, such as a conservative flip or a house hack that significantly reduces your housing costs, allowing you to attack debt faster. Lastly, we discuss using reserves, selling, or refinancing properties to pay off high-interest credit cards, and the mindset shift from avoidance to taking small, quick-win steps forward.  Resources:Simplify how you manage your rentals with TurboTenantGet in touch with Envy Investment GroupFind out more about how to work with Grace's sister, Malia Gudenkauf, by visiting her websiteMake sure your name is on the list to secure your spot in The WIIRE Community Leave us a review on Apple PodcastsLeave us a review on SpotifyJoin our private Facebook CommunityConnect with us on Instagram

In this episode of the Real Estate Pros podcast, host Micah Johnson welcomes Greg Flowers, a seasoned property management expert with nearly three decades of experience. Greg shares his journey from the mortgage industry to property management, emphasizing the stability and predictability that property management offers compared to the highs and lows of real estate sales. He discusses the importance of technology in modern property management, highlighting how it has transformed the industry and made operations more efficient. Greg also provides valuable insights for property owners considering hiring a property manager, including the benefits of professional representation and the importance of maintaining good tenant relationships.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Sponsors:◦ Visit Buildertrend to get a 60-day money-back guarantee on your Buildertrend account◦ Marvin Windows and Doors◦ Sub-Zero Wolf Cove Showroom PhoenixConnect with Tiffany Rosenbaum:◦ https://www.instagram.com/tiffanymrosenbaumConnect with Brad Leavitt:Website | Instagram | Facebook | Houzz | Pinterest | YouTube

Takeaways:The three-step process includes buy, finance, operate, and exit.Understanding your exit strategy is crucial for real estate success.Be intentional with your buy right criteria to ensure value addition.Market analysis is essential for determining property value and potential.Operational efficiency can significantly impact the success of a real estate investment.Financing options vary and should align with your investment strategy.Building a business mindset is key to successful real estate investing.Utilizing data and market insights can enhance decision-making.Exit strategies can include selling, refinancing, or holding properties long-term.Every real estate deal should be evaluated through a strategic lens.   We're here to help create real estate entrepreneurs... About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. Connect with Jake & Gino here --> https://jakeandgino.com. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

What Does It Mean to Think Like an Owner in Property Management?Retail real estate is not won in boardrooms. It is won in the field. Chris Ressa sits down with Tine Helton, Regional Property Manager at DLC, to talk about the work that actually keeps open-air retail centers running across Illinois, Indiana, and Ohio. From tenant relationships to infrastructure issues, Tine walks through what it means to own the day-to-day when performance, responsiveness, and consistency are the difference between a good center and a great one.Tine's path into property management started on the leasing side, where she learned how a deal turns into a real, operating business. That curiosity led her into operations, professional certifications through IREM, and a leadership role focused on getting better at the craft, not just holding the title. The conversation digs into why education, ethics, and peer networks still matter in a business that moves fast and demands real accountability.At DLC, Tine shares what stood out most: a culture that backs its people and expects them to take ownership of outcomes. The result is a practical look at how strong operators build better properties, stronger tenant partnerships, and long-term performance in open-air retail.What You'll HearWhy the best property managers operate like owners, not order-takersHow leasing knowledge becomes an operational advantage once the deal is signedWhat IREM certifications actually change in day-to-day decision-making and leadershipHow to turn education and peer networks into real career leverageWhat strong culture looks like when performance and accountability matterHow Midwest open-air centers stay competitive through consistency, speed, and follow-throughChapters00:00 – The Operator's SeatChris introduces Tine Helton and sets the stage for a conversation about what it really takes to run retail centers, not just lease them.01:00 – From Leasing to LeadershipTine explains how her early work supporting leasing teams shaped the way she thinks about operations, tenants, and long-term performance.02:45 – Choosing the Harder PathA look at why she moved into property management and embraced the challenge of being accountable for everything that happens after the deal is done.04:00 – The IREM AdvantageTine breaks down how certifications, ethics, and peer networks through IREM sharpened her decision-making and accelerated her career.07:30 – Turning Education into OpportunityHow investing in professional development led directly to promotions, leadership roles, and industry recognition.12:45 – Joining DLC and Thinking Like an OwnerWhat stood out about DLC's culture and why ownership, accountability, and support matter in daily operations.15:40 – Growth Without a CeilingTine shares why continuous learning, new disciplines, and community involvement keep her pushing forward.17:45 – Defining a Successful YearWhat success looks like when it is measured by team performance, process improvement, and being a leader others can count on.

In this solo Q&A episode, Axel answers listener-submitted questions covering three core pillars of successful multifamily investing: asset management execution, deal sourcing, and construction cost estimation.Axel breaks down how his team actually operates day-to-day: what gets reviewed on asset management calls, how CapEx decisions are prioritized post-close, and how renovation budgets are underwritten quickly and consistently across deals.This episode is designed for investors who want repeatable processes, not theory. Whether you're self-managing a small portfolio or overseeing third-party managers on larger assets, the frameworks shared here are immediately applicable.Join us as we dive into:How Axel structures weekly and bi-weekly asset management callsWhy the first 30–90 days after closing matter more than most investors realizeHow front-loading CapEx impacts tenant retention and long-term NOIWhen it makes sense not to renovate common areasHow often financials should be reviewed and what to look forA simple framework for estimating renovation costs by square footTypical light, medium, and heavy value-add renovation rangesHow property managers help validate construction budgetsThe acquisition channels Axel is actively using todayWhy being “easy to work with” still matters when sourcing dealsAre you looking to invest in real estate, but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners provides investment opportunities to passive investors looking for the returns, stability, and tax benefits multifamily real estate offers, but without the work - join our investor club to be notified of future investment opportunities.Connect with Axel:Follow him on InstagramConnect with him on LinkedinSubscribe to our YouTube channelLearn more about Aligned Real Estate Partners