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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: March, 2019
Mar 22, 2019

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.

Tracy Streich, an Oklahoma native, joins me today for a true mastermind episode. He’s a fellow property management company owner, and manages almost 500 doors. We’ll chat about best practices for all kinds of things, including short term rentals and syndications. This is a great conversation, so don’t miss out!

We’ll start off by sharing our thoughts on legislation, both in terms of Oregon’s recent statewide rent control laws and in terms of the dangers of acting like a property manager if you’re a real estate agent. From there, we move on to talking about syndications. Tracy explains that he raised about 30% and leveraged about 70% on three different funds, and chats about the experience he gained from the process.

As Tracy explains, syndication the way he does it is a three-step process with three separate ways of making income: buying the homes, managing them, and selling them at the end. As we’ll emphasize, it’s important to make sure you’re doing all of this right, so get a competent lawyer from the beginning!

From syndication, we’ll move on to talking about short-term rentals. As you’ll learn today, Tracy owns and manages several short-term rentals, and he shares his experience in getting started as well as sharing some words of wisdom for listeners who are interested in getting into this market. We’ll also spend a lot of time digging into resident benefit packages, including various things that you can include in them.

Show Notes

[02:04] - Brad welcomes listeners to today’s episode and introduces its guest, Tracy Streich.

[03:11] - Tracy gives us a quick introduction to who he is, what he does, and why he’s so happy to manage properties in Oklahoma instead of a state on the Pacific coast.

[04:54] - Brad brings up the topic of Oregon’s recently passed state rent control, and he and Tracy chat about the subject.

[08:18] - Tracy digs into the danger of a real estate agent acting like a property manager, and Brad expands on the subject.

[12:05] - We learn about the process of syndication in single-family homes.

[15:55] - Tracy goes deeper into the three-stage process involved in the syndication system he’s been talking about.

[18:17] - We hear more about the process of getting started in syndication, and how it’s single in single-family syndication than multi-family syndication.

[20:45] - Tracy talks listeners through his short-term rentals.

[24:55] - What percent of collected rent does Tracy charge when managing the short-term rentals he’s been talking about?

[27:18] - On average, how much does Tracy think it would cost someone to set up a short-term rental?

[33:08] - There have been a couple times that people have decided against doing a short-term rental after hearing about the expense, Tracy explains.

[35:00] - Tracy talks about renters’ insurance, and how he has moved that into the resident benefits package.

[40:21] - We hear more about specific coverages that Tracy has been seeing.

[42:56] - Tracy explains that he tried to find monthly recurring charges to tenants to incorporate into the resident benefits package.

[48:00] - Presentation is everything, Tracy points out, and explains how this relates to what he has been talking about.

[51:22] - How can people reach out to Tracy to learn more?

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

adisarro@sccombank.com

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

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Tracy Streich on LinkedIn

tracy@rentersplace.com

RentersPlace

Tracy Streich on Facebook

Airbnb

VRBO

Mar 11, 2019

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.

Andy Moore is a property management company owner in Florida. He’s joining me today to talk about implementing the EOS, or Entrepreneurial Operating System. He’s an authorized teacher of the system, and qualified to help you implement it, so don’t miss this value-packed episode!

Originally from England, Andy worked as a detective there before making a career switch. He bought a US property as a vacation rental, but couldn’t find anyone to manage it up to his standards. So he got a visa, came on over, and started his own property management company.

In our conversation today, Andy talks about the cycle of growth. If you think of a person growing, or recall your younger days, you’ll think of a cycle that involves growth spurts alternating with periods of less growth. He compares this to the growth of a company, and explains that in the EOS framework, you (as a business) either grow or you die.

If you’re wondering whether EOS is right for you, don’t miss this episode! Andy will help you assess whether EOS is the right fit for your company. As he explains, the system’s sweet spot is for companies between $2 million and $50 million in revenue, and 10 to 250 employees. He’ll also explain how to implement EOS, which you can either do on your own or by engaging an implementer (like Andy himself!).

 

Show Notes

[02:18] - Welcome to the episode! Today’s guest is Andy Moore, a property management company owner.

[03:19] - Andy takes a moment to thank Brad for his contributions.

[03:57] - Where is Andy originally from? How did he end up with a property management company in the United States?

[05:33] - Andy talks about his company and the background he’s coming from in that regard.

[06:48] - We hear more about the size of Andy’s company, including how many doors and employees he has.

[08:44] - Andy digs into some of the pain points that people need to shift, and explores how EOS can help them.

[10:55] - Brad talks about some ways that he can relate to what Andy has been saying.

[12:47] - We hear more about how EOS can help companies in the types of situations that Andy and Brad have been talking about.

[16:57] - What size should a company be to use EOS, and what are the triggers to indicate that a company needs EOS?

[19:43] - Andy walks listeners through the EOS process.

[24:27] - We hear more about the meetings involved in EOS, and how they can be a powerful advantage for a company.

[27:13] - Andy talks listeners through the process of implementing EOS, which you can do in several ways.

[30:01] - We learn about how long it takes to get going with EOS and when new users can expect to see results.

[32:40] - Brad talks about his experience in picking up a large company mentor this year.

[35:16] - We hear about the discount that Andy is offering listeners! To get a 10% discount, use the discount code “Brad.”

 

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

adisarro@sccombank.com

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

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Andy Moore on LinkedIn

Gulf Coast Property Management

Six Key Coaching

EOS

Traction by Gino Wickman

gkhouses

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