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The Property Management Mastermind Show

The Property Management Mastermind Show and Property Management Productions was formed to provide information and products BY Property Managers FOR Property Managers looking to grow and run their business. The podcast show is an interview discussion conducted by Brad Larsen – a Property Manager in San Antonio, TX. In this Podcast show, Brad will interview some of the biggest and brightest stars in the Property Management industry to include National Association of Residential Property Management (NARPM) members, Leading Property Managers of Australia (LPMA) members, and key vendors in the property management industry with the goal of being able to gain insight for best practices, new trends, and exciting information to help you grow and run your business more successfully.
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Now displaying: June, 2018
Jun 20, 2018

I love offering listeners fantastic benefits, such as some great discounts for products, with new offers coming all the time! You can see a complete list at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.

One more announcement before we get started! Our newest product at Property Management Mastermind is the Business Development Toolkit. In 2017, RentWerx organically grew by over 360 homes. In 2018, we’re on pace to grow another 500 homes. And best of all, we’ve done all of this without going out to meet the people and earn the business one door at a time. Tune in to learn more, or check out the toolkit online! If you aren’t completely satisfied with the product, we’ll give you a 100% rebate.

Mark Dolfini graduated high school and started his professional career in the Marine Corps. After four years, he left the military to get a degree in accounting. He started buying rental properties when he entered college, and had about a dozen by the time he graduated. That’s when his education really started, he says. He eventually got up to 93 rental units by himself, but points out that it was a mess, and he didn’t really own a business.

In 2008 and 2009, Mark lost over $4 million in real estate. During that time, he also got sick with a cold that turned into double pneumonia. This made him realize that the madness couldn’t continue, and he had to shift from being self-employed to being a true business owner. Today, Mark is the Landlord Coach. He works as both a coach and a consultant, he explains, and focuses on creating capacity.

In our conversation today, he’ll talk about the reasons why he likes single-family dwellings, including the occupancy rates and ease of sale, despite the negatives (such as maintenance). We’ll talk about whether flipping is dead, and how many people are still doing it or wanting to do it. You’ll also learn in more depth about what Mark does as a coach, whether his services are more focused toward property managers or landlord investors, what it means to be time-wealthy, and much more.

Here’s where you can find Mark:

Landlord Coach

Mark Dolfini on LinkedIn

Mark Dolfini on Facebook

Show Notes

[02:41] - Mark introduces himself and explains the path he took to reach where he is today as the Landlord Coach.

[04:16] - The units that Mark had when he graduated weren’t high-dollar units, he explains.

[04:50] - At that point, Mark was doing everything by himself.

[07:59] - In terms of the management side of things, what does Mark do now?

[10:01] - Mark walks us through the various aspects of his business and his work, and offers the recommendation of building a sustainable, scalable business that doesn’t take all of your time.

[10:40] - Brad and Mark debate the topic of single-family homes versus multi-family homes.

[13:47] - Brad brings up another topic of discussion for Mark to address: is flipping dead?

[16:29] - We learn that Mark is divesting right now, and he explains why this is the case.

[18:42] - Mark talks us through his role as a coach, explaining that he helps to create capacity.

[22:08] - Mark dives deeper into the topic of overlays, which he mentioned a few minutes earlier in the conversation.

[24:41] - Brad talks about one of the challenges that he has with single-family-home property managers.

[25:35] - Are Mark’s services more focused toward property managers or landlord investors?

[27:04] - Mark talks about his book, The Time-Wealthy Investor.

[28:49] - We hear about a special offer that Mark has for Property Management Mastermind listeners!

[30:08] - Not everybody needs a coach, Mark points out, but everybody should have one.

[31:07] - How can someone reach Mark? For the special offers he mentioned, he reveals that you can head to this link.

[33:18] - Does Mark have any conference speaking gigs coming up?

Links and Resources:

adisarro@sccombank.com

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

RentWerx

Landlord Coach

Mark Dolfini on LinkedIn

Mark Dolfini on Facebook

The Time-Wealthy Investor by Mark Dolfini

Free gift for Property Management Mastermind listeners

Jun 11, 2018

I love offering listeners fantastic benefits, such as some great discounts for products, with new offers coming all the time! You can see a complete list at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.

One more announcement before we get started! Our newest product at Property Management Mastermind is the Business Development Toolkit. In 2017, RentWerx organically grew by over 360 homes. In 2018, we’re on pace to grow another 500 homes. And best of all, we’ve done all of this without going out to meet the people and earn the business one door at a time. Tune in to learn more, or check out the toolkit online! If you aren’t completely satisfied with the product, we’ll give you a 100% rebate.

Now, onto today’s episode. In this conversation, I’ll talk to David Tilney, who’s an expert on the fascinating topic of master leasing and has been putting on seminars on the topic for years. David and I will take a deep dive into the concepts behind master leasing, some of the history of it and how he came to apply it to the industry the way he does, and how you can apply it to what you’re doing in the property management world. This conversation will answer a lot of the questions that you might be looking at when you talk to owners who are fearful of everything.

If you’re not familiar with the concept of master leasing, you’ll also learn the basics of what it is! In short, master leasing is when you lease a property from one entity and sub-lease it to another, and take your cut from the middle. It differs from property management in that you’re not working for the owner, and therefore don’t have a fiduciary responsibility to the owner.

David did his first master lease in 1984, when he leased a house for 35 years at a fixed rent and secured his lease with a deed of trust. 10 years later, he was given half the appreciation of the property to remove his lease from the property when it was sold. In 1996, he cancelled all of his agency relationships and leased the properties that he used to manage because he felt he had more control in that process.

In addition to all of this, you’ll also learn about how master leasing can be an entry into the world of property management, as well as some of its other benefits. David will talk about process for business development and finding owners who want to work with him, and why it’s so exciting (and sometimes fun) to be an entrepreneur.

Here’s where you can find David:

David Tilney

David Tilney on LinkedIn

Show Notes

[02:40] - Brad takes a moment to introduce David.

[03:36] - David gives us some history of what he’s been doing with master leasing and related seminars.

[05:54] - In master leasing, who’s doing the maintenance, and how is it being paid for?

[08:48] - David mentions that master leasing has been involved in the commercial market forever, and offers some examples.

[11:33] - We learn about what David covers in his master leasing class.

[14:31] - David talks about how long he’s been teaching about master leasing.

[16:48] - Does David find that there’s less adversity in master leasing than there is in traditional property management?

[18:59] - We hear about how David finds homeowners who are willing to lease to him.

[23:57] - David currently has very few units under his umbrella, he reveals, and explains why that’s the case.

[24:43] - Brad circles back to David’s seminars, and David talks about some upcoming seminars. If you want more information on the seminars, you can find out about them on David’s website at this link!

[27:00] - David never has more than one seminar listed at a time, he explains.

[29:42] - If you use the discount code “Brad,” you can get a discount on one of David’s seminars!

[30:55] - Brad offers a quick side story.

[32:02] - Many property managers own rentals themselves, but some don’t and don’t know how to get started, David points out.

Links and Resources:

adisarro@sccombank.com

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

RentWerx

David Tilney

David Tilney on LinkedIn

NARPM

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