I love offering listeners fantastic benefits, such as some great discounts for products. These include the PM Grow Summit, website production through Property Managed Website, showing services through Tenant Turner, and more, with new offers coming all the time! You can see a complete list of the current offers at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.
Today’s episode is going to be a different style! It’s always an honor to share my guests’ wisdom with you, but today I want to share some tips and insights of my own, so I’ll be doing a monologue. You’ll hear about some great things going on in the property management industry, best practices and techniques, and some of the questions I hear a lot.
You’ll hear about my property management company, RentWerx, that has experienced a 35% year-over-year growth and currently manages 840 single-family homes. I’ll talk about why we count homes versus properties, and what the magic number is (profit per month per door that you manage). I’ll also talk about the reason I started this podcast, and why it’s so important to me to see the property management industry get better as a whole. I’ll also touch on my future goals, including the book I plan to write!
Podcasting is going to be the new radio. Since you’re here listening to this, you’re probably already aware of that and ahead of the curve! Right now, it’s still a relatively young industry that’s fairly easy to break into, but that’s already changing. If you want to get into podcasting, now is the time to do it… and if you want to learn how to get into it, you’ll want to listen to my talk at the upcoming NARPM Broker Owner Conference.
I’ll talk about plenty of other hot topics including our eight fantastic team members (not just virtual assistants!) in Mexico, the value of Facebook marketing and how we use it, the importance of search engine optimization, some great projects we have going on, and finally an exciting announcement about our upcoming expansion!
Show Notes
[02:28] - Brad’s first point of discussion is RentWerx, his property management company in San Antonio, TX.
[05:05] - We switch over to the topic of maintenance, with Brad discussing the choice to break out his maintenance company.
[07:09] - Why is Brad doing this? He wants to see the property management industry improve, he explains.
[09:49] - At the NARPM Broker Owner Conference, Brad will be doing a presentation on podcasting. If you’re interested in the topic, it will be a productive event!
[11:09] - Brad discusses his thoughts on competitors, and why he isn’t worried about giving things away to them.
[12:39] - We learn that Brad has eight full-time team members in Mexico. These people are far more than virtual assistants, he explains, and talks about what’s so impressive about them.
[15:10] - Brad moves onto another hot topic: Facebook marketing.
[19:30] - At first, Brad thought the Matterport 3D tour technology was very expensive, but it has turned out to be valuable.
[21:20] - Brad talks about hiring business development managers and employees.
[23:48] - We touch on what has really worked for Brad in the business development side, which is a five-tiered system.
[27:58] - Another thing Brad wants to talk about is their investor pocket listing concept, which reduces the losses from sales.
[30:25] - Brad circles back to how he’s using the Matterport 3D tour videos.
[32:43] - Let’s talk about hiring! Brad discusses the way they’ve typically found applicants and made hiring decisions.
[37:37] - Brad moves onto talking about leasing, saying that he rents to the best-qualified applicant.
[40:04] - Brad is a huge fan of doing leasing where the tenant never needs to go to the office.
[42:31] - We learn about structuring your business, with Brad offering his experience and insight.
[45:36] - Brad discusses something he heard recently about the dynamics of phone calls.
[46:30] - Another good topic for discussion is software providers.
[48:48] - One of Brad’s campaigns with NARPM is to create a NARPM accounting standard. He explains what this means, and what the intentions are.
[52:48] - Brad returns to the topic of his management company, RentWerx, and explains he’s recently teamed up with eXp Realty for Salewerx.
[55:11] - We hear about a potentially industry-changing landlord insurance property. Another thing that will become increasingly prevalent are syndications.
[57:25] - Brad moves into the final point of the episode with an exciting announcement: their company will be moving into Austin!
Links and Resources:
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)