The Property Management Mastermind Show

Links and Resources:

adisarro@sccombank.com

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

Becoming a Property Manager As a New Career with Tra Griffin of GKHouses 0

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Sep 11, 2020

Have you ever wanted to do something different, take a chance, and change careers? Listen as Brad and his guest Tra Griffin of GKHouses discuss how Tra started property management as a second or third career. He came in as a COO from a different industry and helped GKHouses build their business on this episode of the Property Management Mastermind Show.

Tra talks about what he does for GKHouses, his background in the Marines and fitness, and how he got into the property management industry. Tra speaks about the differences and similarities between the fitness industry and the property management industry and how beneficial Culture Index can be to make sure you hire the best people.

Listen, as Tra discusses the operation challenges he faces when they take over different markets, how to hire strategically for tuck-in markets, and some challenges they had on the last acquisition GK did. Tra also talks about the in-house training that GK does for their internal employees to develop people to be better at their jobs and better people overall.

Brad and Tra share why they believe that the property management industry has been insulated during the pandemic, and where they see the industry going as they move forward post COVID. Tra has pivoted his career many times and always seems to come out on top, listen, and see if changing careers can benefit you.

In this episode:

[02:43] Tra shares a little about his background and knowledge of the industry.

[04:08] He speaks about what he does for GKHouses.

[05:18] Tra came out of the Marines and went into the fitness industry.

[06:46] Tra shares some big differences and similarities between the fitness industry and the property management industry.

[08:47] Tra discusses the Culture Index and how beneficial it can be in any industry.

[11:55] He speaks about the operational challenges that the COO sees when taking over different markets.

[14:14] Tra discusses the tuck-in markets and being strategic when hiring.

[15:33] What challenges did you face on the last acquisition GK had?

[19:14] Tra says that he wants to figure out a way to bring on people with no property management experience to train them.

[20:32] GK has created new in-house training to develop people to be better at their job and better humans.

[21:53] What do you see in the property management industry as opportunities right now and in the future?

[23:55] Tra speaks about the recurring revenue model and how it makes it possible to provide a great service for the owners.

[27:37] Tra says that he is obsessed with creating a scalable process.

[31:00] Tra speaks about having a leader that knows the market is essential.

[33:42] Brad shares a story about WWII that parallels his point.

[36:30] Brad discusses how deals are done in the property management industry.

[37:37] Thank you for being on the show, Tra!

Find Tra:

GKHouses

Links and Resources:

adisarro@sccombank.com

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

Website Accessibility and Compliance with Tim Liversage 0

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Aug 14, 2020

Today, Brad's guest on the Property Management Mastermind Show is Tim Liversage, the co-owner of Stray Cat Digital, a digital marketing company. Listen as they discuss website accessibility issues and compliance issues which are the buzz topics right now. Brad feels it's very important for the property management managers to understand this, to make sure they are being implemented into their marketing and websites because the vultures are circling.

Brad and Tim discuss how attorneys are finding non-compliant websites and slapping a demand letter on you for thousands of dollars. Tim speaks about an audit program he has developed that will audit your website and tell you what needs to be updated and give you a starting point to get compliant.

Listen as Tim gives examples of large companies and celebrities that have been sued because their websites were not compliant. Tim shares that the people affected by these non-compliant websites are the blind or people who can't hold a mouse, just to name a few of the disabilities that are hindered by these websites.

Did you know that 90% of web browsing is now done on cell phones? Tim shares some statistics and gives a range of where pricing can start depending on what you need to do on your website to bring your compliance current. The bottom line is, check your website and make sure it is compliant before the vulture attorneys come after you for non-compliance.

In this episode:

[02:37] Tim shares a little of his background.

[03:47] Brad explains how these attorneys are trying to find a non-compliant website and slap you with a demand letter to get a quick settlement.

[06:33] Tim discusses an audit program that he has developed to give you a checklist of your issues.

[08:39] Tim speaks about the fair housing act, which is part of the ADA.

[10:59] Tim talks about the accessibility statement that everyone needs to have to show on their website.

[12:23] Tim shares an example of what these lawsuits look like and who has been sued.

[15:20] People who don't have a legal team usually get these letters.

[17:05] Tim speaks about who is affected by these websites that are not compliant.

[21:39] What are some benefits and features of keeping your website updated and compliant.

[24:52] Tim talks about recording video with subtitles and not using voice.

[25:41] 90% of web browsing is now done on a mobile phone.

[27:17] Tim gives a range of what it will cost to fix a website and make it compliant.

[29:33] Word press is the only platform you can use that has the budget and accessibility to fix or redo your website.

[31:41] The bottom line is that you need to make sure your website is compliant as quickly as possible.

[32:51] Tim shares some final thoughts.

[34:06] Thank you so much for being on the show!

Find Tim:

Tim Liversage

Twitter | Facebook | Instagram | LinkedIn

Links and Resources:

adisarro@sccombank.com

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

Introducing the Facilitators For The Roundtable Small Groups 0

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Aug 2, 2020

Brad's guests today are four of the best minds in the industry, and they are discussing the small group roundtable that they have put together. These are the four initial facilitators that we brought in to work with the small groups. Visit www.managersroundtable.com to find the introductory pricing.

The service is basically a crowdsource type of compilation on education, with eight in each small group. These groups will meet twice a month for six months, the sessions are structured and laid out by the facilitators, and they will all be recorded so that if you miss one, you will be able to catch up.

The four facilitators are Deb Newell, Paul Kankowski, Sarah Durbin, and Scott Brady. Listen as these four share what to expect at the small group roundtables, what they are each bringing, and the benefit they feel you will receive, making the cost insignificant.

These roundtables will be small virtual intimate gatherings that will allow you to get inside knowledge from some of the best in the industry. You can't get this one-on-one education at a conference; you are getting it from your home. Sign up now while they are still offering the introductory pricing, and learning from this brain-trust, it will be like nothing you have ever been a part of.

In this episode:

[01:54] Welcome to the show!

[03:12] Brad introduces the four facilitators.

[04:08] Deb Newell shares her background and some of what you will experience at the group roundtable.

[06:36] Paul Kankowski shares about his accountability groups what he will bring to the roundtable.

[09:40] Brad speaks about each meeting's structured nature that allows people to prepare before getting into the meeting.

[10:18] Paul discusses his list for what he has planned for the roundtable groups.

[11:30] Sarah Durbin shares her background and what she is excited to bring to the small group roundtables.

[12:25] Sarah speaks about the small groups she has been in over the years.

[13:43] Scott Brady gives an introduction and shares what he thinks the small group scenario will feel like.

[15:34] Brad discusses why they are charging for the roundtable and where the money is going.

[18:23] Deb shares the value she sees in this as a whole.

[19:59] Scott will bring his SWOT exercise to the roundtable groups.

[22:52] They all share some final thoughts for the listeners.

[23:52] Thank you all for being on the show!

Links and Resources:

adisarro@sccombank.com

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

Rod Khleif on Multi-Family Investing Mindset, and One Hell of a Good Story 0

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Jul 31, 2020

Brad's guest today is Rod Khleif. Rod is a multi-family real estate investor, business consultant, and high-performance coach. Listen as they discuss the multi-family success mindset and some outstanding stuff on this episode of The Property Management Mastermind Show.

Listen, as Rod shares how he lost 50 million dollars and recouped it. Rod explains that he had single-family homes and multi-family homes in 2008 when the stock market crashed. His multi-family properties flourished while his single-family homes took him to the cleaners. Rod shares the goal-setting process that brought him back financially.

Rod discusses what he focuses on when he starts a business, the difference between purchasing single-family homes versus multi-family homes, and how the value of a multi-family property is determined. Rod also talks about the management and tenant side of the business and what he believes will happen to property owners next year.

Rod speaks about his podcast called Lifetime Cash Flow and what is happening in the commercial, private, and retail sectors during this COVID-19 crisis. Next year Rod believes the market will open up, so have your money ready if you want to invest in multi-family properties.

Rod has been in the business for many years and lost more money than most of us will ever see. His insights into multi-family properties are unique and something you don't want to miss, so sit back, relax, and get ready to be motivated.

In this episode:

[02:09] Welcome to the show, Rod!

[02:12] Listen as Rod shares his background, and how his business is doing today.

[04:47] Rod speaks about losing 50 million dollars in 2008.

[07:27] Why should you buy multi-family properties?

[09:51] In 2008, Rod's houses brought him down, but his multi-family properties flourished.

[11:38] Rod shares the steps to his goal-setting process.

[13:46] Rod speaks about the books he has written.

[16:35] Listen as Rod shares the last two steps to his goal-setting process.

[19:18] Rod shares some examples of how he pictured his goals and made them come true.

[23:01] When starting a business, what do you focus on?

[25:39] Rod shares the things he looks for when he starts businesses.

[27:31] Rod discusses the differences between purchasing single-family homes and multi-family.

[29:25] The value in a multi-family property is based on a multiple of the net income.

[33:48] Rod speaks about the management and tenant's side of the business.

[36:36] Rod shares what he thinks will happen with property owners during this crisis.

[39:36] Rod discusses the commercial, private and retail sectors and how they are doing right now.

[42:04] Rod talks about his podcast called Lifetime Cash Flow.

[43:42] Thank you so much for being on the show!

Links and Resources:

adisarro@sccombank.com

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

Lifetime Cash Flow podcast

Find Rod

Rod Khleif

Bootcamp use code ‘friend of Rod’ to get in for $97

@rodkhleif

Instagram | Twitter | Facebook | YouTube

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Property Management Update From Andrew 0

Jul 8, 2020

Would having a company do your tenant screening for you free up some time? Brad’s guest today is Andrew Schultz, the broker/owner of Own Buffalo Inc., a real estate and property management company in New York. Andrew is also the host of the RentPrep for Landlords Podcast in addition to having his own show. Listen as they discuss property management and RentPrep for the landlords plus much more on this episode of The Property Management Mastermind Show.

Andrew shares about his business and how it is doing during this pandemic. He speaks about the classes his properties fall under, and the time it takes to get a property approved for section 8 housing benefits, which is why he charges a fee to the owners. Andrew also talks about a program his company has that has been working really well so far.

Do you have in-depth screening criteria? Brad and Andrew discuss how important it is to screen well if you want to have a low percentage of late payments and foreclosures. Andrew shares how he got involved with RentPrep and the screening process they use that works well for Own Buffalo, Inc.

If you haven’t listened to the RentPrep for Landlords Podcast, you should, and if you are a property manager, landlord, or investor, want to connect, share, learn, collaborate, and sign up for the RentPrep for Landlords Facebook group. You will be glad you did.

In this episode:

[02:30] Welcome back to the show, Andrew!

[02:34] Andrew shares a little about himself.

[03:32] What is going on in your company during this pandemic?

[05:22] Andrew describes what he means by A, B, and C class properties.

[07:15] Andrew speaks about his section 8 housing and the time it takes to get through the section 8 paperwork process.

[09:25] Do you see section 8 housing authority expanding into your B class properties?

[11:29] Brad speaks about charging owners of the Class B properties to start the approval process for housing authority funds for people who can’t pay their rent.

[15:18] Andrew shares a program his company does that works well.

[17:38] Andrew discusses how they handle their accounts, getting all the funds upfront, and providing a packet that explains everything.

[20:08] Brad and Andrew talk about screening criteria they use for single-family and multi-family.

[23:28] Brad discusses enormous companies coming in and buying up management companies and not managing them.

[26:55] Can you tell us more about how you got involved with Rentprep?

[30:11] Andrew speaks about using Rentprep for their tenant screening services.

[33:48] Where are you going to take the podcast now that you are the host?

[36:21] Andrew shares where you can find him if you want to talk.

[38:04] Andrew speaks about some issues he has seen on the Facebook group.

[39:45] Thank you for being on the show!

Links and Resources:

adisarro@sccombank.com

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

Adam Collins - Commercial Tenant Representation And Purchasing In The COVID-19 World 0

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Jun 26, 2020

Would you rather work from home exclusively or go to the office a few days a week? Listen, as Brad and his guest Adam Collins, a real estate broker in the Washington D.C. area, discuss the changes happening in office settings, and how to help tenants find commercial properties, investing in commercial and manage commercial properties on this episode of The Property Management Mastermind Show.

Adam speaks about the changes he sees in the office world because of COVID-19, how he believes commercial leases will change, and why blend and extend is a negotiation tactic that will allow you to pay a lower rent today but also gives the landlord stability because he knows the building will be occupied for however many more years.

Adam discusses tenant representation, how his company works with the client, and the concessions they ask for. Adam shares the pitfalls you don’t want to fall into when looking for commercial property and where he sees commercial real estate going in the next year.

When preparing to buy a commercial property, start by having a pleasant relationship with your banker. Please discuss what you are looking for with your banker and broker so they are both on the same page. If you are looking to buy a commercial property or have a commercial property to lease, this is an informative episode that you won’t want to miss.

In this episode:

[02:37] Welcome to the show, Adam!

[03:58] Adam shares what he has seen in the office world since the pandemic has kept people home.

[06:04] Adam discusses how commercial leases will change and where the trend is leading.

[07:50] Blend and extend, which allows you to pay less rent today but also gives the landlord some stability.

[10:25] Are you seeing the blend and extend negotiation tactic working in your area?

[12:20] Adams discusses tenant representation and how they work with clients to find the best lease.

[15:09] Adam shares the concessions they ask to help their clients get the best lease possible.

[19:15] What is the last minute throw in that you always ask for and get?

[21:36] Who pays for your services? What is the standard rate?

[24:10] Adam speaks about the pitch that he uses to get clients.

[26:04] Adam discusses the pitfalls that you never want to walk into.

[28:36] Spec suites are what Adam believes will be the future of the leasing world.

[31:43] What do you see on the purchasing side of commercial leasing?

[33:20] Adam shares his insights into purchasing and the types of loans he recommends.

[36:09] Adam believes that it might be harder to lease space as leases roll into renewal during this time, but it won’t be like 2008.

[39:16] Having a relationship with your banker is essential.

[40:16] Talk with your banker while you are talking to your real estate broker.

[43:54] Thank you for being on the show!

Links and Resources:

adisarro@sccombank.com

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

Peter Tverdov - Student Housing, Start-Ups, and Future Growth! 0

Find Adam:

Adam Collins

@adamcollins

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Jun 17, 2020

Can you believe it’s the 100th episode of The Property Management Mastermind Show? Listen, as Brad and his guest Peter Tverdov discuss surviving the pandemic with a still-growing business in a niche that few people have found in student housing plus much more on this 100th episode of the podcast.

Peter is a property manager from New Jersey, and he has a start-up in the niche world of student housing called Tverdov Housing. He left the corporate world, survived the pandemic, and came out on top with a growing company. Peter’s mindset is that no one will do it better than he could, so he quit his corporate job in January of this year and is making it work.

Listen as Peter speaks about why he became a property manager, why his focus has been on student housing, and how a lease works with multiple students renting a single-family home. Peter talks about his tenants, making one payment with one check, and why he doesn’t do background checks on all the students in the house.

Brad and Peter also talk about the software he uses for quarterly inspections and where he sees his company in the next few years. Peter believes in building slowly, so he has a plan for adding more doors to his company in a way that won’t overwhelm them. He also discusses what he likes about renting to students and what he doesn’t.

From Wall Street to building a company around student housing, Peter has a vision, and even the COVID-19 crisis hasn’t stopped him. He knows that even though it has been slow for a while, things will inevitably pick up, and he wants to be prepared when that day comes.

Show Notes

[02:11] Welcome to the show, Peter!

[03:03] Peter shares a little of his background and how he got into property management.

[05:12] What is the climate of managing homes in New Jersey?

[07:10] Peter speaks about how he got into student housing management.

[08:25] Peter describes what student housing looks like in New Jersey.

[09:47] How does a lease work when you have multiple students in a single-family home?

[12:47] Peter shares how payments work, one person pays the rent, one check.

[16:22] Do you do background checks on each student living in a home?

[19:34] Peter speaks about the software he uses for quarterly inspections.

[20:24] Where do you want to take your company in the next few years?

[22:38] Peter discusses what he thinks the fall schedule will be for the colleges in New Jersey.

[24:13] What is your least favorite and most favorite thing about managing student housing?

[26:33] Peter believes that student housing will be a large part of his business in the future.

[28:18] Peter speaks about some concierge services his company offers to their owners and student tenants.

[31:30] Peter shares what he learned from his football coach at Rutgers University in New Jersey and how he applies it to his everyday life.

[33:45] Peter, thank you so much for being on the show!

Links and Resources:

adisarro@sccombank.com

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

Mark Brandt from PointCentral Discussing Home Automation 0

Find Peter:

Tverdov Housing

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Jun 1, 2020

What do you know about home automation? Listen as Brad and his guest Mark Brandt discuss what PointCentral home automation can do for your business, and the benefits to tenants, property owners, and property management. They also speak about the decreasing cost of initial entry and much more on this episode of The Property Management Mastermind Show.

Mark describes what home automation is and how it is beneficial to homeowners and property managers. Brad speaks about having Alarm.com his PointCentral system and what options he chose for the new house he bought, like the doorbell camera and the automatic locks.

Listen, as Mark shares how this system runs off your cellular network, not wifi, so if the house is vacant, you can still control the system. He discusses the benefits to the owners and tenants and how to sell the features to both.

Mark shares some features like water sensors that alert you if there is a water leak. Automatic thermostats that you can control on your phone to set temperatures in vacant homes and keyless locks that need not be re-keyed; you just change the code. These are only a few of the features that PointCentral offers to make your homes more enticing to millennial renters.

Marks speaks about the initial cost of setup, the monthly fees, and how you can get the owners on board. If you have questions or want to get in touch with Mark, you can email him at markbrandt@pointcentral.com or go to the PointCentral website for more information. There will also be a video released in the next few weeks that will show you all the features that Mark has been discussing.

Show Notes

[02:43] Welcome to the show, Mark!

[02:52] Mark shares a little about himself and his career.

[04:55] Marks discusses what home automation is and how it's beneficial to you.

[07:03] Brad shares the installation of PointCentral in his new home.

[09:58] They discuss the doorbell sensor that shows who has been at the front door.

[11:09] Mark says that PointCentral has the property management focused solution for Alarm.com.

[12:40] Mark speaks about how their system runs off cellular service instead of wifi.

[15:08] The important things that property management owners are looking for with this system are locks, thermostats, and water sensors.

[18:47] Mark describes their unattended showing platform.

[20:02] Property managers want access to management locks, which is a big win for their companies.

[21:48] Mark speaks about the tenant having an app to control their smart home.

[24:00] Mark shares the basic management packages that PointCentral offers.

[26:16] Mark chats about how the automatic thermostats can be adjusted by the management company to save utility costs while homes are vacant.

[27:50] Mark shares about the analytics of the thermostats.

[29:26] The water sensor for pipes or water heaters is excellent for vacant properties so you can be on top of water leaks.

[33:37] What are the installation costs and costs per month?

[36:04] Mark talks about the live customer support that PointCentral offers.

[38:14] Brad shares how he would market this to the tenant and owner.

[40:45] Mark gives a real case example of how home automation has helped with renting homes.

[43:05] How do you recommend getting the owner to put the money down for the initial hardware set up?

[46:07] Brad shares some ideas he thought of to get the owners on board.

[47:58] Mark shares his email address so you can shoot him an email if you want more information at markbrandt@pointcentral.com.

[49:33] Mark talks about some quick fixes that are out there, but this system will allow you to grow in the long term.

[50:48] Thank you so much for being on the show, Mark!

Links and Resources:

adisarro@sccombank.com

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

Maliece Sorrows - Simplebills 0

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May 13, 2020

Wouldn’t it be great to have a system in place that allows the utilities in move-outs to stay on with no downtime to make ready? Listen as Brad and his guest Maliece Sorrows discuss how Simplebills is making that possible. They also speak about what Simplebills is, and how long they have been around on this episode of the Property Management Mastermind.

Maliece shares how Simplebill works and what the benefits are for a PMC. Brad speaks about RealPage’s involvement with Simplebill, and Maliece shares how it will benefit the owners and tenants. They discuss how to implement Simplebills into your company, how to monetize it with your tenants and owners, and all the benefits that come with integrating Simplebills into your property management company.

Listen as they chat about how Simplebill handles compliance with utilities in all the different states where they have offices. Maliece also shares the penalties that can be assessed if a PMC tries to make money from the tenant for utility bills, how they handle delinquencies, and their default procedures.

Simplebill has partnered with Citizens Home Solutions to handle ancillary services while Simplebill takes care of the utilities, which makes everything easier for the tenant, owner, and property management company. Have you jumped onto the Simplebill train yet? If not, you need to listen to this episode because once you do, you will realize you are missing out.

Show Notes

[02:50] Welcome to the show, Maliece!

[03:39] Maliece shares her background and how she got involved with Simplebills.

[04:32] How long has Simplebills been around?

[05:33] Maliece speaks about Simplebills, what it is, and how it got started.

[08:30] Maliece chats about all the utilities being transferred into Simplebills’ name so that the services are never interrupted.

[10:40] Maliece shares how RealPage is involved and how it will help the customers.

[12:55] Brad speaks about how to implement this into your company and how to monetize it with your tenants.

[16:25] Maliece discusses how they address this on the Simplebill side.

[18:34] They talk about the added benefits that are built into the Simplebill package.

[21:27] Maliece speaks about compliance and the issues they handle with each utility in each state.

[23:41] What are the penalties that a PMC can incur if they don’t comply?

[27:22] How does Simplebill handle delinquencies?

[31:02] Brad chats about his preferred tenant program.

[32:16] Maliece discusses their default procedures.

[35:12] Maliece shares how Citizens Home Solutions will take care of ancillary services, and Simplebills will take care of the utilities; they work hand in hand.

[36:29] Maliece shares some positive testimonials from some PMCs and owners.

[38:38] Thank you so much for being on the show!

Links and Resources:

adisarro@sccombank.com

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

Brad Larsen - Management In a No Touch World 0

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Apr 29, 2020

Do you have a no-touch leasing management system in place? Listen, as your host, Brad Larsen shares what they have done at his management company RentWerx to create just that kind of system. He is going through the entire life cycle of managing homes in a no-touch world in this episode of Property Management Mastermind

Brad discusses the beginning life cycle of no-touch leasing, which starts with owner interaction, and the benefits of showing vacant, move-in ready homes only. He also shares what can happen if you show and pre-lease occupied homes, the pitfalls from messy properties to renters wanting to hold over, and the issues that come from that. Brad believes that vacant, move-in ready homes will rent faster.

Brad speaks about no-touch showings and the safety benefits of them, what ghost showings are, and how online applications can work for you. He discusses getting a tenant moved in, the resident benefits package they have, and what it includes. Brad also describes the no-touch way that his company re-keys doors, does inspections, move-out, and how they finalize the security deposits.

With the current situation with the pandemic, the focus is on keeping everyone as safe as possible, and no-touch is the way to go. Because of the safety benefits and just plain convenience, it’s a system that has been and will stay in play for RentWerx going forward.

If you have had questions about how your company can do no-touch leasing, you definitely need to listen to this episode.

Show Notes

[01:49] Welcome to the show!

[02:02] Brad discusses what they have done at RentWerx to create a no-touch leasing management system.

[02:38] Brad shares the beginning of the life cycle, owner interaction, and the go-around to meeting them in person.

[03:25] Brad speaks about leasing homes in a no-touch situation, which starts with the showings.

[04:07] They market move-in ready homes only and the reasons for that.

[06:32] Brad chats about tenants that hold over and the issues that can cause if you have already leased the property to a new lessee.

[09:01] If you market a vacant, move-in ready home, it will arguably rent faster.

[09:45] How can you conduct showings with an unoccupied home?

[12:40] Follow up is always recommended once the showing window is over to make sure the property has been closed up properly.

[13:41] Brad discusses the safety factor of no-touch showings and how they can keep agents safe.

[17:11] Do you know what ghost showings are?

[19:36] Brad speaks about online applications and how they benefit everyone.

[21:54] He shares that next, they send out an approval email that includes the draft lease agreement.

[22:56] Brad chats about the preferred tenant program they use and the system they use to collect security deposits.

[26:22] How do you track your adverse action letter?

[28:14] Brad speaks about DocuSign for lease agreements.

[30:01] He shares how they get a tenant moved in and their Residents Benefits Package.

[33:00] Brad chats about rekeying the property before the tenant moves in.

[36:23] In this no-touch environment, how are you doing repairs? Periodic and renewal Inspections?

[39:35] Brad discusses the no-touch move out system they use.

[41:23] RentWerx finalizes their security deposits by regular mail.

[44:15] If they forget to send you an email that shows when they moved out, you can charge them extra days of rent.

[44:50] Thank you for listening today.

Links and Resources:

adisarro@sccombank.com

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

Tony Cline - COVID-19 Issues, Work From Home, New Tech and Policy Procedures Best Practices 0

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Apr 13, 2020

Was your management company prepared for the mandated stay at home order? Listen as Brad and his guest, Tony Cline, discuss why his company was already working from home on this episode of Property Management Mastermind Show. Tony is running the Home Vault Property Management office in Denver, Colorado, he is an ultra runner of fifty to one hundred mile runs and a commissioner for the Arvada Urban Renewal Authority.

Tony shares that his company has been working from home for the last three years, so the work from home mandate changed nothing for them. He also speaks about videoconferencing and how his team was proactive with their communication and messaging with their landlords and tenants.

Brad and Tony chat about new technology they see that will help property management companies, why Brad's team has been looking at procedures and policy changes that will keep them relevant in the next thirty-six months and the belief that with technology, anything you can think of someone is probably working on and just trying to figure out how to make it profitable.

Listen as Tony shares his passion for being healthy and how important diet and exercise are when dealing with the stress, the marathons he runs, and what sparked his desire to get fit. Brad speaks about the Property Management Mastermind marathon he has organized that will include a mastermind session, a half marathon, and a full marathon.

If you are looking for a new perspective on working from home, new tech, and best practices for your business, you won't want to miss the information that Brad and Tony share, so grab a smoothie, relax and hit play.

Show Notes

[02:13] Tony, thank you for being on the show today.

[02:26] Tony shares a little about himself and his background.

[05:06] Tony discusses the switch they made three years ago from working in an office to working from home and how prepared they were for the COVID-19 restrictions.

[07:33] He speaks about the challenges he faced when they transitioned to working from home and how productive his staff continued to be.

[10:37] Tony chats about some video conferencing apps that he recommends.

[12:43] Tony discusses being proactive with their communication and messaging with landlords and tenants.

[15:31] Do you see websites becoming more comfortable to navigate?

[17:01] Tony speaks about interactive messages to make things more personal.

[18:44] Brad predicts that doorbell cameras will have facial recognition capabilities to allow unassisted property showings.

[19:59] Have you been able to develop any key performance indicators from your work from home team?

[23:51] Do you believe that having team members work from home is a mind shift?

[25:36] Tony shares policy procedures and policy changes they have made to be relevant in thirty-six months.

[27:38] Tony believes that as far as technology goes, anything you can think of someone is already working on.

[28:42] Brad and Tony talk about working on contactless leasing and move out capabilities.

[31:38] Tony discusses how years ago, tenants had no voice and how the internet changed it and gave them a voice.

[34:57] What interesting technology service apps do you see coming soon?

[37:18] Tony believes that these services will provide more revenue and a benefit to the tenants.

[39:40] Tony shares his thoughts on Property Managers' health practices and the importance of using exercise to handle stress.

[42:47] Brad discusses how the Keto diet has worked for him.

[43:30] Brad chats about the Property Management Mastermind session plus the marathon they have scheduled Saturday, November 7th, in Savannah, Georgia.

[45:21] Tony speaks about the best practices webinar from the Home Vault Academy.

[47:25] Tony, thank you so much for being on the show today.

Links and Resources:

adisarro@sccombank.com

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

Home Vault Property Management

Tony Cline

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Phil Owen - Periodical and Move-In Inspections During COVID-19 0

Mar 20, 2020

Is your management company still doing periodic inspections with the COVID-19 virus running rampant? Listen as Brad and his guest, Phil Owen, discuss this in-depth on this episode of Property Management Mastermind Show. Phil is the CEO of OnSight PROS; they have been doing 3rd party move in, move out, and periodic reports for property managers for about ten years.

Phil speaks about the need for hands-on inspections, how his team is protecting themselves from COVID-19, and what to do if the tenant does not want you in the house. He shares the technology his company has designed that will replace the pen and paper walk through that tenants do when they move into a property and the cost of the app for the management company and tenants.

Listen as Phil shares how the ‘My Walk Thru’ app allows social distancing in this time of uncertainty, and the way the app can work for security deposit documentation. Phil also describes how the 360-degree camera functions and the fact that it provides a more straightforward method to display the property if you need to go to court. He gives examples of how this has helped property managers in the past.

COVID-19 is scary, but Phil’s company has found a way that allows you to continue doing your inspections while keeping yourself and your tenants safe. Listen as Phil shares all the benefits of what OnSight PROS can do. If you are on the fence, you will definitely want to listen to this episode.

Show Notes

[02:45] Phil, welcome to the show!

[02:47] Phil shares some background about OnSight PROS and its growth.

[04:03] He speaks about some periodic inspections that need to happen, especially now with the COVID-19 virus.

[05:50] Should we still do checks before renewals? Should we let the tenant take pictures and do their inspections?

[08:51] Phil describes what they are doing to protect themselves from the virus when they are doing investigations.

[10:07] Phil tells his employees that if they have any symptoms stay home, and they have been asking the tenant if anyone in the home has symptoms.

[13:00] Management companies have to work with the tenants because if they don’t want you in the house, don’t force the issue.

[15:05] Phil gives us an example of a situation they had with a client who thought they had an inspection when they had a condition report.

[16:51] Phil shares the technology they use called My Walk Thru that will replace the tenants’ move-in report.

[21:13] What is the cost of the app that your company has designed?

[23:28] Phil believes that about 70% of the tenants turn the walkthrough information into the management company.

[25:08] Brad speaks about social distancing and how this technology can let the tenant maintain that while still allowing the management company to know the condition of the property.

[27:18] Phil chats about the way the app works for security deposit documentation.

[29:35] He details the way the tenant can use the Walk Thru app to disclose any issues they find with the property with the 360-degree cameras.

[31:39] What do you think about the technology behind the 360-degree camera?

[33:35] If you are not in a PROS market, can you still use the app?

[36:11] Phil says although they don’t have any of the training documents on their website, they do a blog about some things that people ask on LinkedIn.

[37:22] Thank you so much for being on the show today, Phil!

Links and Resources:

adisarro@sccombank.com

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

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

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

Citizen Home Solutions – Sponsor at PMMCON 2020 0

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Feb 17, 2020

We all know how expensive and stressful moving can be for new tenants. A great property manager helps make the experience as easy as possible for a new tenant. The service from Citizen Home Solutions is a great value add for property managers. It saves the tenants time and money and can bring in extra revenue through commissions and incentives.

I partner with Citizen Home Solutions with my property management company Rentwerx. In fact, I was their third customer, and if I had to do it all over again I would. I am joined today by Wes Owens, the owner and co-founder, along with Peter Hernandez the VP of Sales and Marketing. Business Development Manager Drea Hespen is also here to talk about all of the exciting opportunities that Citizen Home Solutions has to offer.

CHS is also a sponsor of PMMCON 2020. This is a property management mastermind conference in Las Vegas on March 2nd through 4th. It’s going to be an exciting and informative event. The group from CHS talks about the growth that they are experiencing and the many benefits that they offer for tenants and property managers.

Their service saves tenants time and headaches. It also saves time for property managers and generates extra cash.

If you offer a tenant benefit package, this is a great free amenity. It also saves you the time of having to follow up with tenants to make sure utilities have been transferred to their names. We also talk about some of our recent Peloton purchases and our PM Health Group on Facebook. We even talk about our upcoming Mastermind Marathon!

Show Notes

[02:51] My company Rentwerx was the third customer of Citizen Home Solutions. If I had to do it all over again I would.

[03:10] I'm excited to have these guys as partners. Their service is phenomenal.

[03:16] Drea is the business development manager.

[03:28] Peter is the vice president of the company.

[03:34] Wes is the co-founder and owner.

[04:10] Get $500 off of PMMCON through the end of the week with CHS discount.

[04:51] CHS has had a lot of growth. They started with three employees and now they have 29 employees. They are signing on a lot of national companies.

[05:56] CHS does front line sales for utilities. They set up all of the utilities and create value for the new tenants while getting rebates for the property management company. It's about commissions from the big players. Everybody wins.

[06:48] Tenants think it is the best moving experience.

[07:07] When the property manager gives tenants this free service, they love it because it cuts down on time they have to spend calling multiple utility services.

[08:23] At the end of a discount contract, you can switch names in the household and get those discounts again.

[09:01] The value add is that they set up the utilities. They also find out what providers service that specific address. It saves time and trips that the tenant would have to make.

[11:14] Benefits for property management companies is that there is no contract to sign. It also becomes part of the residence benefit package.

[12:21] In some areas you have to visit the utility in person.

[13:24] Another benefit for property managers is that tenants often lose the information you give them and will end up calling your office for help anyway. This eliminates that from happening.

[14:04] They have a customer experience department for property managers.

[15:51] Citizen Home Solutions reaches out to the residents for you.

[16:21] It also prevents tenants from not transferring the utilities to their name. CHS makes sure everything gets done.

[17:01] A tenant benefit package is a list of amenities that a tenant gets and pays for. It can start with insurance and free utility setup.

[19:24] The service is 100% free for the tenant and property manager.

[20:02] Property managers can make five figures a quarter through the service.

[20:42] Pete is the number one customer of Citizen Home Solution.

[22:12] They have a health group about exercise, being active, and healthy eating. Different property managers also wanted to join in and now they have a Facebook group.

[29:15] There is something for everyone in this motivating group. They are also having their second 5k event coming up.

[30:52] The Mastermind Marathon is going to be in Savannah on November 7th.

Links and Resources:

adisarro@sccombank.com

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

#26 Allison Disarro from Seacoast Commerce Bank – Finally A Bank That Gets Property Management!

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

zInspector

FilterEasy

PM Health Group on Facebook

Drea Hespen on LinkedIn

PMC Partner

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

Flynn Cochran - Marquee Speaker at PMMCON 2020 0

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Feb 7, 2020

If you could learn leadership from a Navy SEAL, would you? Flynn Cochran is a former Navy SEAL and the Chief Strategy Officer for Echelon Front, a leadership consulting firm where he is a leadership instructor. Flynn uses the consulting models from the books Extreme Ownership and Dichotomy of Leadership by Jocko Willink and Leif Babin to teach individuals and businesses the principles of leadership and how to use them change cultures and lives.

Flynn shares about his SEAL training and military career, why he left to go to business school, and what he learned there that has helped him advance in his career. Flynn also chats about some of the clients that the consulting firm has helped using these leadership principles. Flynn shares how these leadership principles are available for anyone, not just business owners, and some lightbulb moments he has shared with civilians he has taught.

Flynn is the Marque speaker at the Property Management Mastermind Conference and is also doing a three-hour add on seminar that you won’t want to miss. He speaks about what he plans to teach, who his target audience is, and why attending both of his sessions will be beneficial. There will be hands-on lessons as well and discussions on decentralized command because he believes everyone needs to know their role but be prepared to step in and help anyone on the chain of command.

Listen as Flynn shares some of the topics he will touch on during the Property Management Mastermind Conference next month in Las Vegas. If you are planning on going, great, you just got a good overview of her presentation, if you haven’t bought your ticket yet, don’t hesitate they are getting scarce. You don’t want to miss the information that will blow your mind at the conference.

Show Notes

[02:46] Flynn, how are you today?

[03:10] Flynn introduces himself, his background, and why he took the position at Echelon Front.

[05:41] He discusses the two books that Echelon Front uses to teach leadership principles.

[08:12] Flynn shares his military career and seal training with us.

[11:00] Flynn speaks about going to business school once he left the military.

[12:27] Can you tell us more about business school and why you decided to go that route?

[14:49] Flynn chats about some big clients that he has helped grow their businesses exponentially.

[17:45] What are some lightbulb moments that you have seen when training civilians on these principles?

[21:33] Flynn shares what he will be speaking about during his two sessions at PMMCon.

[23:15] He details the important leadership mindsets that he will be discussing in his Marque speech.

[27:19] Flynn describes the hands-on teaching he will give during the three-hour seminar.

[29:44] Do these principles apply to everyone, not just business owners?

[31:14] Flynn speaks about decentralized command and how you need to understand your role and how you can support individuals up and down the chain of command.

[32:44] Flynn, can you give me one tidbit of what you believe the attendees will get out of the three-hour seminar?

[34:33] Flynn, thank you so much for coming on the podcast today.

Links and Resources:

adisarro@sccombank.com

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

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

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

Jennifer Stoops - Speaker at PMMCON 2020 0

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Jan 31, 2020

Would you like to work yourself out of a job? Listen as Brad with his guest Jennifer Stoops shares how her boss, John Bradford owner of Park Avenue Properties, did just that. John set the stage for Jennifer to take over as his replacement so she could take the reins while he pursued other ventures and promoted her from a property manager to Executive Vice President.

Brad and Jennifer discuss what she will speak about at the Property Management Mastermind Conference in March, and the challenges she faced getting her boss to trust her enough to let her take the reins of the company. They also chat about having a contingency set up in your business so that if something happens to you and you are incapacitated, someone else can step in.

Jennifer shares how important it is to make sure to have your accounting team secure when you have someone to step in to run your company. They also discuss education, getting the necessary designations, and the need to keep up with your KPI’s, so you know what is going on in your company.

Do you feel like your name has become a noun? Listen in as Jennifer shares why she feels that way about her name, why having someone assist you is necessary, and how not asking for help when you are overwhelmed can be a detriment to your job.

These are all subjects that Jennifer will touch on at her seminar during the Property Management Mastermind Conference next month in Las Vegas. If you are planning on going, great, you just got a good overview of her presentation, if you haven’t bought your ticket yet, don’t hesitate they are getting scarce. You don’t want to miss the information that will blow your mind at the conference.

Show Notes

[02:37] Welcome to the show, Jennifer!

[02:55] Jennifer, can you give us a rundown of how you ended up as the Executive Vice President at Park Avenue Properties?

[05:28] Jennifer shares how she came to be running the company.

[06:50] She speaks about John’s political aspirations to get voted to a seat in the House of Representatives.

[08:15] Brad chats about what he asked Jennifer to talk about at the PMM Conference.

[10:28] Jennifer talks about the challenges she had trying to get John to let go of the company.

[12:25] She tells us she had to show him that she would always keep him in the loop because it’s his company.

[13:49] Do you have a contingency set up in case you get incapacitated and are not able to run your company?

[15:32] Jennifer speaks about knowing that John was ready to let her take over when he finally opened the books, so she had all of the tools she needed.

[17:11] Brad says that he is grooming his second in command to take over RentWorks when he is off doing other things and the challenges they have to overcome.

[20:23] They talk about how important the accounting aspect is when trusting someone to run your business.

[22:13] Jennifer and Brad discuss watching the bottom line because you are entrusted and incentivized to do so.

[25:35] Jennifer shares about having an operating slush fund and watching the budget.

[27:58] Brad speaks about getting Melanie’s education and getting her designations so that she is ready to step in for him when he needs her too.

[28:54] Jennifer agrees with Brad on training and chats about when she started getting her designations.

[31:45] Brad and Jennifer discuss KPI’s and google reviews and what they need to be to keep your business on track.

[34:07] Jennifer says that her name has become a noun because everyone wants to get a right-hand person like Jennifer.

[36:07] Jennifer shares how they incentivize their management teams, which can keep them motivated.

[39:00] Jennifer tells us she is a control freak and is struggling with letting go and having someone help her because she can’t do it all.

[41:24] Jennifer, can’t wait to see you at the conference!

[41:49] Thank you for being on the show.

Links and Resources:

adisarro@sccombank.com

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

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

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

John Warrillow – Speaker at PMMCON 2020 0

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Jan 20, 2020

Welcome to the Property Management Mastermind show with your host Brad Larson. Brad is speaking with John Warrillow, who will be a speaker at the Property Management Mastermind Conference in Las Vegas on Tuesday, March 3rd. John is the host of the podcast Built to Sell Radio and an author of two books. He helps entrepreneurs and business owners improve the value of their company. He has worked with over 50,000 businesses so far.

John describes the books he has written. ‘Built to sell’ is about creating a business that can run without you, and ‘The Automatic Customer’ is how to build a recurring income. John also gives a teaser about his upcoming seminar at PMMCon on March 3rd, what you will learn and how that can positively affect your business.

John also discusses a recent episode of his podcast with his guest Scott Ramon and why strategic acquirers wanted to buy Scott’s company. He speaks about what strategic acquirers are, what they are trying to accomplish, why a bidding war is what you want, and why an exclusive deal is the worst thing you can fall into. John also says that telling your employees that you are selling your business before you have the check is in your hand is the worst thing you can do.

Listen in as John talks about his Built to Sell webpage and the Value Builder System. He explains what they do and how they can double the value of your business. He believes that the key to successfully selling your company is how you treat your employees. If you want to sell your company at double the value, you don’t want to miss this episode. So plugin and enjoy.

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

Show Notes

[02:40] John, welcome to the show!

[02:50] John tells us a little about himself and his background.

[03:49] He describes what his first book is about.

[06:00] John talks about his second book and how that applies to property managers.

[08:09] He gives us a story about what happened at a talk he has given recently.

[09:33] Can you give us a teaser about what your seminar is about at PMMCon?

[11:09] Has your company stopped growing because you have maxed out what you can do? You need to listen to John’s seminar.

[15:17] John speaks about episode 219 of his podcast Built to Sell Radio and the advice he would give anyone who wants to be in the same position as his guest.

[18:51] Is a bidding war an acceptable practice?

[22:11] Telling your employees that you are selling the business before the check is in your hand is a big mistake.

[24:00] They key to successfully selling your company is how you treat your employees.

[24:49] Can you describe the Built to Sell webpage and the Value Builder System?

[27:05] Thank you, John, for your time, and I can’t wait to hear you speak at PMMCon.

Links and Resources:

adisarro@sccombank.com

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

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

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

Matthew Whitaker on Acquisitions 0

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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:

adisarro@sccombank.com

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

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

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

Nora Bohanon – Workflow Automation Platforms 0

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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:

Rental Workflows Website

adisarro@sccombank.com

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

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

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

Mike Connolly – Investor Owner Seminars 0

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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:

adisarro@sccombank.com

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

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

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

Mike Nelson – Add On Seminar at PMMCON 0

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Nov 12, 2019

Welcome to the Show! In today’s episode, Brad is talking with Mike Nelson. Mike has been a broker since 1981 and has had his own business since 1985. He started in a one-room office with a handful of units and grew it over time. Growth was until 2003 when he began approaching it as a business and started measuring KPI, they now have over 1900 units and are still growing.

Mike speaks about how to bridge the gap between NARPM accounting standards and measuring KPI, the ease with which you can implement the chart of accounts, how to analyze it and how to add more accounts with sub-accounts. Mike also talks about the key metric he uses in his company and how every company will have metrics specific to their business.

In this conversation, they discuss the add-on seminars going on at the Property Mangement Mastermind Conference in Las Vegas in March 2020. Mike will speak about key performance indicators, some of the bullet points that we use in our business today, and then more add on seminar information. Template Alert! Mike will be giving out templates that he has designed so anyone can upload their data and run with it.

Have you heard about the webinar that will be available before the add on seminar? Listen in to find out more about it and how it will prepare you for what to expect and how to be ready to learn everything you can at an intense level at PMMCon 2020. You won’t want to miss the conference so get your tickets now!

Show Notes

[02:56] Welcome to the show, Mike!

[04:08] Mike gives a rundown on his background and when he started using KPI.

[05:49] Brad speaks about Mike having 3 hours at the seminar to teach KPI.

[06:49] Mike chats about some key things to track from the perspective.

[08:43] He discusses his cash flow analysis program that he teaches at NARPM.

[13:08] How can you bridge the gap from the NARPM accounting standards and KPI?

[15:01] Mike talks about implementing the NARPM chart of accounts and how easy it is.

[18:30] They speak about how to edit the chart of accounts to add more accounts.

[20:47] One of Mike’s key metrics is net income, and he tracks the ratio of all payroll relative to gross income.

[25:14] Brad and Mike discuss work orders and the metric to use to follow them and how to their employees.

[27:47] Mike explains what to expect when you walk into his class, what he will teach, and the deliverable templates that will be given out.

[31:12] Who will benefit from your course at the seminar? CEO? Supervisors?

[33:40] They discuss the webinar that will precede the conference and what it will include.

[36:23] Do you track losses due to vacancy? How do you track it?

[41:40] They talk about when they want to put the webinar out, maybe December.

[43:52] Mike, thank you for being on the show.

[44:07] Mike’s final thoughts.

Links and Resources:

adisarro@sccombank.com

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

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

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

Mike Schraepfer – Making Money in Maintenance 0

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Nov 5, 2019

Brad is excited to have Mike Schraepfer on this episode of Property Management Mastermind. Mike is the President of Heirloom Property Management in Duluth, MN. He enjoys sharing his experience to help new investors find properties, solve financing, and work through renovations.

Mike started his career as an investor eighteen years ago and built up a portfolio of 126 single-family homes and duplexes. He renovated the properties to lease, and his property management career began. Six years ago, he began managing properties for other individuals, but he is still his biggest client.

He manages properties that he owns, which makes him the property manager everyone wants to be. His business of management is running his assets, which puts him in the top tier, probably the top 1% of property managers in the country. His company doesn’t have a 401K for its employees. He decided to go a different way and teach them how to invest and manage properties, and as of right now, his staff owns about 25 units.

Mike is one of the speakers at the Property Management Mastermind Conference in March 2020. Listen as he reveals the topic of his presentation and a sneak peek of some of his key talking points. He will discuss how your company can benefit from bringing your maintenance in house and the best software to bring it all together and so much more.

Have you purchased your tickets yet? Don’t hesitate; Mike is just one of the many high-level speakers that will be at the event. Listen in for a small taste of what you can expect when a group of elite property managers get together in one place. If you already have your tickets, great! If not visit the PMMCon.com and get them now before they are sold out, this is one conference you won’t want to miss.

Show Notes

[02:22] Mike, welcome to the show!

[03:08] Mike talks to us about how he got into property management.

[04:08] He speaks about his alternative way of helping his staff save for retirement.

[05:57] Mike discusses the mastermind group he formed with five other people.

[07:42] They discuss the topic Mike will talk about at the Property Management Mastermind Conference. Making Money in Maintenance.

[13:09] Mike will have some excellent deliverables for the people who attend his presentation.

[14:18] What did you take away from the NARPM Conference that you are excited to use?

[16:31] Ancillary fees were implemented in Mike’s company in the last year, and they have helped the bottom line.

[18:08] Mike will talk about best practices and markup vs. margin at the PMMCon.

[19:28] Bring in house everything that doesn’t require a license when it comes to maintenance.

[20:50] What software do you use to run maintenance estimates? Do the techs have tablets?

[23:13] Mike says he is most excited about the black-tie event at the conference.

[23:56] They talk about presentation ideas for other meetings.

[25:15] Scott Brady asks the question, “How can you run a property management business without any management fees”?

[27:26] Operational management is conducting maintenance at a high level.

[27:58] They chat about Mike going to Madrid, Spain, to his business and come up with new ideas.

[29:07] See you in Las Vegas, thank you for coming on the show!

Links and Resources:

adisarro@sccombank.com

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

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

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

Andrew Reece – Keynote Speaker at PMMCON 2020 0

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Oct 29, 2019

Property Management Mastermind, Welcomes Andrew Reece, Co-Founder of Inspect Real Estate. He built a property management company in Australia from scratch and transitioned that into property management software to further industry development. We are lucky enough to have Andrew as a keynote speaker at the Property Mangement Mastermind Conference in March of 2020.

Andrew went to university for accounting. Once he graduated, he became an accountant for realtors and real estate agents. He was involved in bringing the ReMax franchise to Australia, which was his entry into real estate as an accountant for the real estate industry. He opened up his agency, ProRentals, with 31 properties under management and grew that to 1756 within ten years.

Listen for a sneak peek of what Andrew is going to present during his class at the Property Mangement Mastermind Conference. It’s a well-known fact that the US is about ten years behind Australia in the real estate industry, and Andrew is the one to help get everyone up to speed. He is going to let everyone in on what has worked for him, what didn’t, and how his property management software can be an asset.

They discuss the differences between property management in Australia and the United States, the regulations, and how much harder it is to get a lender to here in the states. They do roll playing with a script that Andrew’s team uses to get owners that self rent to discuss using a property management company and the value they bring.

Andrew speaks about how they developed the industry tracking software and how it has evolved into the tracking mechanism for all facets of management. He talks about how it helps workflow from maintenance requests to vendors to knowing the job is, and this is just a small part of the whole program.

This episode is one of a kind, and we are fortunate to be able to talk to Andrew and fortify ourselves with knowledge from someone who started as an accountant and now has over 2500 offices that focus on Inspectrealestate.com.au. Grab a pen and paper because you will want to take notes as you listen.

Show Notes

[02:53] Welcome to the show, Andrew!

[03:24] Andrew gives us a brief rundown of who he is, what he does, and why he does it.

[06:20] Andrew discusses the software they developed and how it has grown.

[08:03] They discuss their maintenance software that helps the workflow side.

[09:16] Andrew talks about a tracking device they have on the keys to make sure they have been properly checked out.

[10:17] He chats about all the ways they track leads, sales inquiries, and other sources to stay on top of any business leads.

[13:13] Andrew discusses what his presentation will be about at the conference.

[16:05] They examine the deck of cards with tips on how to follow up.

[18:50] Andrew discusses the financial calculators that are on his website and how they work.

[20:33] How much are selling for in New Zealand and Australia?

[23:15] He talks about the rent roll lenders in Australia and the difference between the two countries.

[25:45] Andrew chats about how they began developing the software and how it increased their business.

[27:40] What do we have here in the US that you don’t have in Australia?

[28:44] What do you have in Australia that we don’t have here in the states?

[31:48] They roleplay renting a property. Andrew shows Brad how he gets the owner to use a property management company.

[35:39] Andrew speaks about the other stuff he is going to talk about at the conference.

[38:13] What motivates you? Money? Time off? Competition?

[39:35] Thank you for being on the show today!

Links and Resources:

adisarro@sccombank.com

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

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

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

Kevin Knight with SureVestor 0

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Oct 14, 2019

In this episode of Property Management Mastermind, Brad welcomes Kevin Knight. Kevin is the President of Liberty Mangement Inc. He, along with his partners, brought the SureVestor insurance program to the United States from Australia. As a property manager for over 20 years, he is very excited to offer this product to his customers.

This program covers what owner's insurance does not and helps alleviate the fear of malicious damage and unpaid rent that owners feel when they hand over their property to renters. This also benefits property managers because it can only be purchased through a property management company, owners do not have access to it any other way.

Kevin believes that this insurance is something that addresses what owners want, and it is so easy that marketing is a breeze. With the rental market, the way it is the ability to offer something so diverse might make the difference when trying to pull in the self-managed landlords.

Brad and Kevin discuss the PM health group and encourage all property managers to take the time to be as healthy as they can. Kevin says, "the best way to improve your business is to improve your health," which is why SureVestor is sponsoring ten individuals for the 5K run/walk at the NARPM National Conference.

If you are trying to grow your property management company, this is an opportunity you won't want to miss. Listen in to find out about this new way to give your business a boost with a program that benefits all involved. Kevin is so excited about this that he will get you fired up as well. So get ready to be inspired to expand your business.

Show Notes

[02:29] Welcome to the show, Kevin Knight!

[03:27] Kevin tells us about the insurance program called SureVestor.

[05:45] They discuss the Australian rental market and how different it is from the U.S.

[06:51] For more information about this program, go to www.SureVestor.com.

[07:45] Kevin speaks about owners needing to use a property management company to be able to purchase this program.

[09:17] Brad talks about Kevin losing 50 pounds and being part of the PM health group.

[09:42] Kevin chats about being at NARPM National Conference and SureVestor, sponsoring 10 people in the 5k walk/run.

[10:45] Kevin tells us his recommendations for the implementation of the SureVestor insurance product?

[13:52] Lloyds of London is the company that is underwriting the insurance for SureVestor.

[15:48] Kevin speaks about the hard hitters he has coming in for the NARPM National Conference.

[16:43] Because of the rules and regulations we have now in the states, it is getting harder for individuals to rent properties.

[18:45] Kevin says that there will be a film crew at the conference for property managers to film intros.

[19:34] Brad talks about the relationship between vendors and attendees at the Property Management Mastermind Conference in March 2020.

[21:37] The best way to improve your business is to improve your health.

[24:04] Kevin believes this insurance addresses what owners want, and it is so easy.

[25:37] If the owner wants this, how does a property manager request this insurance? Is there a portal?

[27:49] How much does something like this cost? Are there different options?

[29:22] It makes your property management company more like to get business if you offer the insurance, and others don't.

[30:30] The key to selling this is marketing and the opt-in and opt-out form.

[33:24] Brad discusses the BizDev seminar for more information go to www.bizdevseminar.com.

[35:45] Kevin talks about pulling in self-managed landlords with the SureVestor product and how much business is out there for property management companies.

[38:44] What is something else about SureVestor that you are excited about?

[41:10] Kevin's last thoughts about coverage and letting your current owners know about the program.

Links and Resources:

adisarro@sccombank.com

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

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

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

John Higgins with Steady Marketplace 0

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Oct 9, 2019

Property Management Mastermind welcomes John Higgins to the show. John is the Co-Founder and CEO of Steady. They offer a customized insurance product to landlords and property owners to offset the cost when tenants default on their leases. It is in 35 states right now, and they are working on adding the remaining states as quickly as possible.

John discusses how their product can be monetized, how it is being offered, and whom the product is designed to benefit. He talks about how easy it is to implement this insurance, the technology behind the pricing, and how to find out who underwrites it for them.

If you are looking for a new way to offset the risk that is hardwired in the property management industry, this is the episode for you. Get a pen and paper ready because you will want to jot down some of the high points of this conversation.

Show Notes

[02:53] Welcome to the show, John Higgins!

[03:35] John starts by telling us a little about himself and his company.

[05:58] They discuss the legislation that is being passed to protect tenants in the U.S.

[07:56] John’s company is now in 35 states, and they are working on adding the remaining states.

[08:59] He speaks about his company and gives us a description of what they do.

[10:52] Can you monetize this? How is it offered?

[12:24] It is designed to benefit property managers as well as small landlords.

[15:59] Is their any insurance licensing required? Would it help them to be licensed?

[18:43] John chats about property managers selling the coverage in a package to landlords.

[19:15] Can you buy it as a one-off? Do you have to buy it as a package?

[20:17] Steady provides the framework so that anyone can implement this program.

[20:43] The pricing depends on the property location; they use technology to individualize the rates.

[23:33] The underwriting for their policies is a very reputable company, to find out more information go to www.steadymarketplace.com

[24:38] Why would you want to engage with Steady?

[27:10] To get in touch with John, him at John@steadymarketplace.com

[29:03] John’s final words.

Links and Resources:

adisarro@sccombank.com

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

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

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