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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: November, 2020
Nov 10, 2020

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today, Brad's guests, Todd Ortscheid and Scott Brady discuss going big or staying small, the merits of both, debating an article Scott wrote that with bullet points from Todd to flush out some key issues.

 

Todd shares his arguments for staying in the 200 - 500 door range with your property management company, whereas Scott believes that you need to go big and have multiple revenue streams. Scott says that if you take the DNA of a small company and overlap it into a larger company, it's a winning combination. 

 

They both agree that you should know your why, why you want to stay small, or why you want to grow, know your purpose, and have a vision. Scott says that if you have a larger company, you have higher revenue, and it's easier to get a buyer. Todd disagrees and shares that a small company with a strong gross revenue is sometimes more desirable when selling.

 

Todd speaks about how automation and outsourcing are the ways to stay lean and mean and run a profitable company. Scott says that if you have a target client, compelling pricing, a great brand, and great customer service, you can grow your company and stay profitable.

 

There is nothing bad about making money just to be making money, and Scott believes you should monetize everyone you meet. The purpose of profitability is to provide a great service, and Todd has a fee program Brad recommends. There are two sides to each coin, but basically, if you know what you want and know how to get there, it doesn't matter your management company's size. You can make it profitable.

 

In this episode:

[01:40] Welcome to the show!

[02:36] Todd shares a little about himself.

[02:53] Scott introduces himself and what he does.

[03:48] Todd discusses his argument points for staying in the 200 - 500 doors range.

[04:23] Scott defines his argument points for going bigger for multiple income streams.

[05:34] Brad shares his insights into this debate from where his business stands.

[06:28] Scott believes you should take a small company's DNA and overlap that into a larger company.

[08:06] Todd says you need to know why you are doing what you are doing, find your purpose.

[10:33] Scott agrees with Todd that you have to know your why, but he disagrees that the number of doors you manage is about ego.

[12:05] Scott believes that people look at your gross revenue when you sell your business, so bigger companies have bigger revenues.

[14:17] Todd talks about the exit strategy idea, and he doesn't believe that you have to be bigger to have a strong gross revenue.

[17:27] Todd shares his techniques for staying lean and becoming profitable.

[18:28] Todd believes that automation and outsourcing are the keys to running a highly profitable company.

[20:56] Scott discusses staff and how owners get attached to their property managers, so if you are growing, you have a better chance of keeping your staff.

[23:16] Brad shares that he is always thinking of the how.

[24:26] Scott talks about having a target client, compelling pricing, a great brand, and great customer service, which is how he believes he is growing.

[27:41] Todd discusses how to get lean and mean and get your business to where you really want it.

[28:57] Start by mapping out your processes and procedures so you can get your VA's doing your work and automate.

[30:31] Scott talks about monetizing everyone he meets, not just the owners.

[32:40] Todd says there is nothing bad about making money just to be making money.

[33:15] The purpose of profitability is to provide a great service.

[35:25] Todd has a fee program that Brad recommends you look at.

[36:05] Brad speaks about PMMCON in May 2021.

[37:24] Todd discusses capital allocation and defines how to do it.

[39:58] The average profitability of a property management company is 6%.

[41:19] Scott shares his insight into allocating capital; he says his best investment is his company.

[43:56] What percentage of property management companies live month to month?

[47:25] Thank you for being on the show!

 

Todd Ortscheid

LinkedIn

PM Assist

Scott Brady

LinkedIn

 

Property Management Mastermind Conference

 

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

Second Nature

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

EZ Repair Hotline

SureVestor

Tenant Turner

Citizens Home Solutions

Rent Bridge 

Nov 1, 2020

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today, Brad's guests Kellie Tollifson and Chrissy Wade, are discussing the NARPM Women's Leadership Council. NARPM's upcoming event is November 12th; this council focuses on developing leadership qualities in women. They want to help them become better businesswomen, speakers, and leaders in their communities and the real estate and property management industries.   

 

Kellie is the National Association for Residential Property Managers (NARPM) 2020 President, who has been involved with NARPM since 2005 and has worked her way up through the ranks. Chrissy owns a property management company in Southern California, growing quickly and has been involved with NARPM for three years. 

 

Listen as Kellie discusses the keynote speaker for Elevate Your Game, Dr. Michelle Mazur, and what she will talk about. Chrissy speaks about the panel, what questions will be asked, and Chrissy shares where she hopes the Women's Leadership Council will go in the future.

 

If you would like to learn how to be a speaker or just gain confidence as a leader, this is the event you don't want to miss. For more information, go to the Women's Leadership Council. What have you got to lose?

 

In this episode:

[02:25] Welcome to the show, Kellie and Chrissy!

[02:34] Kellie shares her background and her involvement with NARPM.

[03:35] Chrissy speaks about her background and when she became a member of NARPM.

[04:33] Brad shares what NARPM stands for and how beneficial it is for property managers.

[06:30] Chrissy discusses the plans that are in place for the Women's Leadership Council and how it began.

[08:40] Kellie speaks about how she was involved in forming the committee and what she believes women will receive.

[11:47] Chrissy discusses the first event the council has planned: a virtual event called Elevate Your Game, which will focus on becoming a speaker.

[14:42] Kellie shares what the keynote speaker Dr. Michelle Mazur will discuss.

[16:44] Chrissy, when people reached out to you with questions, what was the number one thing they wanted to know?

[19:33] Kellie discusses what she believes the panel will be asked at this first event.

[21:37] Chrissy shares where she sees the council going in the future.

[23:13] Kellie hopes that over time they will have the budget to get experts in the industry to help broaden women's challenges in the workforce.

[25:01] Chrissy believes that everyone needs to learn to be better at communication.

[26:07] Kellie discusses the enthusiasm she is seeing from men about this council.

[27:45] Thank you for listening to the show!

 

NARPM 

NARPM Women’s Leadership Council Event November 12, 2020

 

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

Second Nature

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

EZ Repair Hotline

SureVestor

Tenant Turner

Citizens Home Solutions

Rent Bridge 



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