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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, 2021
Mar 29, 2021

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today’s guest is the world-famous Allison DiSarro from Enterprise Bank, formerly known as Seacoast Bank. Listen, as Allison shares her work with property management companies, how each state handles trust account compliance differently, and much more. 

 

Listen as Allison shares her work with property management companies, how each state is different when it comes to trust account compliance and why you need someone who knows what they are doing to set up your trust account. Sometimes, even auditors don’t know if they are set up correctly.

 

Allison also clears up what is and isn’t insured by the FDIC. The FDIC covers accounts per tax ID number unless you have a true trust account, and then each beneficiary is insured for up to $250,000. If the trust account is not set up correctly, you could run into serious trouble should anything happen to the accounts.

 

Allison discusses the merger between Seacoast and Enterprise and what Enterprise saw that was appealing in the much smaller Seacoast Bank. Brad and Allison also talk about trends they see in the industry, like remote teams, remote bookkeepers, mergers, and consolidations. 

 

One thing they are both ready for is for conferences to resume. They miss seeing people face to face and the business opportunities that come from having everyone in one place.

 

**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX

 

In this episode:

[02:07] Welcome to the show, Allison!

[02:25] Allison shares her background and her work with property management companies.

[04:48] Allison talks about how different each state is with trust account compliance.

[05:58] An auditor doesn’t know if a trust account is set up as a true trust account at the bank.

[06:54] Allison discusses the risks she tries to protect property management companies from.

[09:28] Allison shares what the FDIC covers. Is it per account or per tax ID number?

[11:17] When you have a true trust account set up, each beneficiary’s tax ID number is insured up to 250,000.

[14:18] Allison discusses Seacoast merging into Enterprise, which happened in November 2020.

[16:01] Allison talks about what Enterprise was interested in when they merged with Seacoast.

[18:30] Allison shares why the merge was such a good marriage.

[23:02] What are some trends you see in the industry?

[24:30] Allison talks about the incentives to property management companies in doing business with Enterprise.

[27:13] Allison speaks about why doing business with them is beneficial as opposed to other banks.

[30:02] Brad shares the trend he is seeing around remote team members.

[30:30] Allison talks about remote bookkeepers and how they are becoming more and more prevalent.

[33:11] Allison discusses mergers and consolidations and the trend she sees now.

[36:18] Brad believes that the industry is insulated by its own fragmentation.

[39:39] Allison says that HomeVault came out strong, and each person has a clear path of what they are supposed to do.

[41:52] Brad talks about Covid shutting down the conferences and the conferences that may be able to happen in 2021.

[45:17] Allison believes conferences are needed and have been very missed.

[48:39] Brad cautions any seller out there, let a business broker come in and white label you to get competing offers.

[50:02] Once you sign on the dotted line, the deal still isn’t over; there are always pushbacks.

[53:34] Thank you for being on the show!

 

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

adisarro@sccombank.com

(619) 988-6708 (Allison DiSarro Enterprise Bank & Trust)

Enterprise Bank & Trust

Second Nature

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

EZ Repair Hotline

SureVestor

Tenant Turner

Citizens Home Solutions

Rent Bridge 

Mar 9, 2021

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today we are talking to three participants of the Manager's Round Table, and they will talk about some details of what they learned and how it worked for them and get a feel for what we can potentially improve on to make it a better system.

 

Manager's Round Table is a platform we created because we identified a need for a mastermind. Because it's a lot easier said than done, we created this platform where we have facilitators that organize the group and go through checklists of items they want to talk about in a group format twice a month.

 

Listen as David shares his two key takeaways from the round table, including a resident benefits package and a discussion on an owner's manual. They challenged Karen to benchmark where her competitors are and an owner's zoom call she is implementing quarterly. Brian was excited about the SWOT analysis he went through with the group and ways to earn more revenue for his business.

 

David, Karen, and Brian discuss some other lessons learned during the round tables and discuss continuing the format from now on as Brian says, why wait until a conference to improve your business when you can go to a round table every two weeks and bring something back to implement.

 

**Announcement** The Property Management Mastermind Conference is May 19-21 at the Gaylord Resort in Grapevine, TX

 

In this episode:

[03:15] Welcome to the show, Karen, David, and Brian!

[03:36] David introduces himself and his business in Phoenix.

[04:32] Karen shares who she is and her business in California.

[05:12] Brian from San Antonio speaks about who he is and his business.

[08:26] David was able to have the group go through a residents benefits package and discuss an owner's manual they implemented.

[10:20] Brad gives his insights on David's lessons learned.

[12:41] Karen says they challenged her to benchmark where her competitors were,

[13:28] Brad talks about secret shoppers and the benefits of it.

[15:05] What did you discover in your marketplace that made you want to change what you were doing?

[16:30] they also challenged Karen to review their expenses every quarter.

[18:23] Karen talks about an owner's zoom call that she did that she will implement once a quarter.

[19:45] Brian discusses the SWOT analysis that he was a part of in the group.

[20:42] Scott pushed them to look at their businesses and see where they add more revenue.

[22:07] What did you see as some benefits that came out of the group?

[24:21] Brad speaks about the feedback they got from the residents' benefits package.

[25:37] Brad discusses the issues they had during snowmageddon they had in San Antonio.

[26:44] Karen shares why her group at the round table is fun, especially with the accountability Deb expects.

[29:12] David says the biggest thing for him was going there with the intent to share and the more vulnerable atmosphere where everyone shared.

[31:07] Brian talks about the format and how he's making his business better every two weeks.

[32:38] The Property Management Mastermind Conference is May 19-21st! See you all there. 

[33:21] Thank you for being on the show, everyone!



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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