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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: December, 2019
Dec 28, 2019

In this episode of the Property Management Mastermind, Brad is speaking with Matthew Whitaker. Matthew runs a company called GK Houses, which is in 8 different markets, he is also a marque keynote speaker at the Property Management Mastermind Conference where he will be giving out a killer deliverable of his checklist and outline for acquisitions.

Matthew speaks about his company and the three types of money available to most people. He chats about his presentation at the PMMCon, and what you can expect to learn. Matthew discusses the industry trends he is seeing on how to value a property, how the price might deviate depending on the terms and the benefits of the seller financing.

They discuss why it is essential to know what the seller is hoping to achieve from the sell and the steps that you need to follow once a verbal agreement has been made. Matthew talks about the most labor-intensive part of the acquisition, contracts, clawbacks, and how easy it is to close when you are buying assets. He also tells us what to expect in the first 90 days once the acquisition is made. 

Listen in as they chat about how to message the property owners about the sell, how property management companies are a hot commodity and sell almost instantly without the need to advertise and what the cap is on growth in the industry. He believes that not every property management company needs to increase in size and that there is a market for smaller companies.

Matthew talks about the Property Management Mastermind Conference, what his presentation will be about, and the outline he is giving everyone that attends his class. This is an excellent conversation about acquisitions and the best way to go about them.

 Have you purchased your for PMMCon 2020 yet? Don’t hesitate. Tickets are selling fast!

Show Notes

[03:01] Welcome to the show, Matthew!

[03:16] Matthew gives us the five W’s on him and his company.

[05:05] He gives us the rundown on the three types of money out there. Venture capital, private equity and friends, and family. He speaks about which one he uses the most.

[07:42] Matthew discusses his presentation for the conference and what you can expect.

[09:32] Brad and Matthew do some role play to walk through his checklist.

[11:33] Is there an industry trend on how to value a property? What are you seeing?

[14:07] The price will deviate depending on the terms and what that means.

[17:59] What do you do once you have verbally agreed on a price?

[21:38] When selling your livelihood, you need to know that you are getting what you want out of it. 

[23:38] What paperwork is done first? Do you need a non-disclosure?

[26:54] They talk about being on a need to know basis when it comes to information that is shared. 

[28:54] The due diligence part of the acquisition comes next. This is where the actual probing comes in.

[31:08] Look at the NARCUM accounting standards at NARCUM.org to see your options.

[32:08] What happens after the due-diligence part is done? Are you working on a contract at the same time?

[33:47] Matthew gives his opinion on what you need to know about clawbacks.

[35:51] Matthew speaks about how smooth closing is on businesses.

[37:51] Explain what you are purchasing? Assets or Stocks?

[39:13] He walks us through the first 90 days after the acquisition is over.

[41:01] Messaging the owners is a critical factor that you must take into account. 

[42:42] Management companies are such a hot commodity that they don’t need to advertise a sale. They can keep it in house.

[45:10] Could you grow by 10% every year indefinitely?

[46:16] Matthew speaks about the deliverable he will be at the conference.

[47:40] Contact Matthew by text at 205-585-0415 or mwhitaker@gkhouses.com



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

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

 

For the Property Management Mastermind Conference information https://pmmcon.com/

 

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

 

Dec 13, 2019

Brad is talking with Nora Bohanon on this episode of the Property Management Mastermind. Nora is a property management company owner out of the Chicago area. They are talking today about the holy grail of software, which is the workflow platform. There are so many platforms out there right now that we just wanted to discuss them and the potential solution Nora has for everyone.

Nora talks about the difference between a ticketing system and total automation software, the different names and brands, and what they do the same and different. She gives the implementation for when these different types of software should be used, and how to tie it all into your signature platform. She also explains the best uses of the software and gives examples of each.

Find out ways to automate and reduce your staff, set priority levels, and keep the workflow going without things falling through the cracks. If you have an automated system or if you are thinking of getting one, this is the episode for you. Take advantage of what Nora is offering and look her up. She can help you decide what works best for you.

Listen in to this conversation; they cover many topics and go in-depth on the major ones; if you want answers to some of your questions concerning software and how to integrate and implement an automated system, you won’t want to miss this episode.

Have you purchased your for PMMCon 2020 yet? Don’t hesitate. Tickets are selling fast!

Show Notes

[02:22] Welcome to the show, Nora!

[03:11] Nora gives us a little rundown of who she is and her ideas on the workflow platform.

[04:22] She speaks about the area she works in Chicago and the challenges around it.

[06:04] What is a workflow platform? Is it a ticketing system?

[07:18] Nora is talking about total automation software; they talk about the different platforms.

[10:20] She talks about the usage of these software programs in the order they should be used.

[12:25] Can you tie this into a signature platform?

[13:32] Nora talks about automating emails and texts and the fact that folio won’t integrate entirely.

[16:06] She describes the best uses of the software and explains each one.

[17:42] What is the coolest feature you’ve seen on these new platforms?

[20:58] This can be as complex, and you want it to be depending on the size of your company.

[22:30] How difficult is the implementation of the software you choose?

[25:01] If you automate ten tasks, will that save you a staff member?

[26:33] To find Nora and learn about these systems go to www.rentalworkflows.com

[29:05] You can set priority levels for different types of things.

[30:26] Implementing these systems is different for everyone, depending on the size of your company.

[32:56] Implement something that works with your processes, with something like lease renewals and move on to others once you learn this one.

[34:15] A personal URL is available with a personalized page and generated for you.

[35:04] Look at these platforms and find what features you want to make working your business more streamlined.

 

Links and Resources:

Sign Up for a Ontraport Tiral

Rental Workflows Website

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

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

 

For the Property Management Mastermind Conference information https://pmmcon.com/

 

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Dec 5, 2019

In this episode of Property Management Mastermind, Brad is talking with Mike Connolly. Mike is an operator, and property management company owner out of the San Francisco bay area. He does property management seminars and is offering our listeners today his powerpoint and handouts free for anyone who emails him at Mike@EastbayPMC.com and leaves an honest review.

Mike discusses why he advertises by direct mail, the cost for each piece, and how fast he can recoup the expense. He talks about working with his brother Tom and how they bring both of their businesses together to benefit their bottom lines. Mike speaks about the four-page newsletter he and his brother send out quarterly and what topics they cover.

They chat about inspections and how in-depth the owners want the yearly review to be. Mike also tells us about the statewide rent control law that was passed in California and how hard it will be to get rid of problem tenants. He describes his property management seminar called, The Twelve Basics of and his investment seminar called, Should I Own, Sell or Exchange My Rental Property, and how he got started doing them.

Listen in to this conversation; they cover many topics and go in-depth on the major ones; if you want answers to some of your questions concerning your clients and how to advertise most economically, you can’t miss this episode. 

Have you purchased your tickets for PMMCon 2020 yet? Don’t hesitate. Tickets are selling fast!

Show Notes

[03:20] Welcome to the show, Mike!

[03:43] Mike gives us a rundown of his background and what he has going on now.

[06:12] He tells us how direct mail has worked for him.

[07:27] What does each piece cost? What is your Client Aquisition Cost?

[10:21] Mike discusses working with his brother and breaks down what they each do.

[13:24] Only 5% of realtors own property themselves. 

[16:00] How do you keep your owners from drifting off, so you don’t lose the sale? Does the newsletter help?

[19:34] Mike chats about doing what is best for the owner, whether that is for the owner to sell or to keep letting him management the property.

[20:45] Have you ever had an owner want a full-blown inspection once a year? Do they usually request just a visual?

[25:17] California just passed statewide rent control; it’s a 5% rent cap plus the cost of living increase. The real problem will be trying to get rid of a problem tenant.

[28:33] Mike talks about the seminars he does and describes what he talks about in the workshops.

[31:05] He calls his seminars a listing presentation that he gives to sixty people at a time.

[34:29] Is this educational selling at a high level? Do you get indirect referrals?

[35:41] Mike chats about his investment seminar called, Should I Own, Sell, or Exchange My Rental Property.

[38:10] Are your seminars packaged up, or how do you present them? Are they free if I email you?

[39:45] Mike believes that looking at someone in the eye and talking to them one on one gets him more business than trying to do it.

[40:38] Email Mike@EastBayPMC.com for the free seminar powerpoint and leave an honest review for Mike as a thank you for the free information.

 

Find Mike 

Mike@EastbayPMC.com   

 

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

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

 

For the Property Management Mastermind Conference information https://pmmcon.com/

 

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

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