The lifeblood of any real estate investment is the ability to retain loyal and paying tenants. Similarly, the optimization of a real estate investment is to “surgically” minimize expenses by adopting proven experienced cost-reduction strategies. Combine these two property management truths with an effective communication strategy and you will have a successful and profitable property management & real estate business.
A property manager has ultimate control over the following three areas: maximizing rents; minimizing expenses and communicating effectively. However, many property management firms lack effective systems, communication strategies and strong relationships with the right contractors. The result is often delinquent rents, stressed out tenants and repairs that cost more than they should. This is also the number one reason that property management companies struggle with scaling their own portfolio under management.
After building, running and finally selling a property management company after 15 years, I learned a lot about what I was doing very effectively — and I needed to do more of that. I also learned a lot about what I was doing wrong – and I needed to change that. By making these strategic adjustments I was able to steer my property management “ship” from ZERO assets under management to $40M assets under management.
My passion now is to help real estate investors, such as yourself, build your own profitable property management solution to manage your own assets. I then help you scale that property management solution with the right operating and marketing systems to begin managing properties for other clients. It pains me to see eager real estate investors work so hard to acquire and stabilize, what could be profitable properties, only to lose money due to a property manager who is mis-managing the asset.
If you want to build and/or optimize your own property management business and real estate assets — let’s talk.