What should you do when starting a property management business and trying to grow your number of doors?

Today, I am talking with Benton Cotter of RentVest. There’s no question that he knows how to grow a property management business.

You'll Learn...

[01:33] Benton’s background and how he got into property management. [03:55] Going nationwide and growing from 79 to 4,000 doors in a few years. [04:33] Steps to take when starting from scratch: Identify kind of company to create to determine clientele and marketing strategy Set fee structure: Do organic marketing, PPC, and SEO. [05:13] Rework Philosophy: Start small, work hard, and start/pay marketing. [06:14] Constant interruptions and constraints; it doesn’t have to be crazy at work. [08:37] Benton built big growth and expanded his network; opportunities are available. [12:16] Being an owner and involved in all of it - from computers to marketing. [13:46] Define your avatar, and narrow your niche. [20:57] Don’t get distracted; focus equals power. [24:20] Identify strengths and weaknesses, but don’t give up ownership too soon. [28:18] Everyone makes mistakes; businesses are built on thousands of failures. [31:07] Put profits back into the business, it will pay off later. [37:35] How to get unstuck in sand trap of 50 units as a solopreneur. [40:07] Entrepreneurs are resilient and adapt easily, but should self-reflect on skill set. [42:30] RentVest’s future goals regarding growth and getting great talent. [44:20] #1 Growth Limiter: People’s ability to offload and bring on new team members. [47:50] Hiring Process: How to filter and find the right fit; ownership is a critical quality.

Tweetables

Start small, work hard, and start/pay marketing.

It doesn’t have to be crazy at work; create a calm culture.

Simple secret for growth: Focus equals power.

Put profits back into the business, it will pay off later.

Resources

RentVest

Benton Cotter on LinkedIn

Benton Cotter on Facebook

Rework Book

It Doesn't Have to Be Crazy at Work

Slack

NARPM

Google Trends

Grant Cardone

Profit First by Mike Michalowicz

DoorGrowClub Facebook Group

DoorGrow Live