294: Meet Property Management Extraordinaire, RE Investor & Hotel Owner Jesse McCue
08.30.2018 - By BiggerPockets Real Estate Podcast
Are you happy with the current state of your real estate business? If you’re like most people, the answer is no. On today’s show, we interview property management superstar Jesse McCue and dig deep into how he’s became Maine’s top property manager as well as a successful RE investor along the way. Jesse shares how he formed a partnership with a successful business to become an owner of the company, as well as how he bought a 67-unit hotel off of a tip from his electrician for half of its appraised value! You’ll be amazed as he describes a strategy that is “better than BRRRR”—and most importantly, the number one question you need to ask a property manager to find out if they are the right choice for you. If you want to learn how to put fundamental business skills to work in your investment business, this is a show you do not want to miss!
In This Episode We Cover:How Jesse was bitten by the real estate investing bugHow he turned around a property in 6 months that required 8 years of budgeted rehab moneyThe tactics he uses to hire people to help him scale his businessHow he made himself invaluable to a rising star and formed the perfect partnership The questions you need to ask a property manager to determine if they are a rockstar or a dudTips on buying a motelThe “better than BRRRR” strategyAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets WebinarBiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan MurdockThe Surprisingly Simple Reason Why You Feel Stressed (Blog)Rent Manager Property Management SoftwareBuildiumAppFolioBooks Mentioned in this Show4-Hour Work Week by Timothy FerrissThe Book on Managing Rental Properties by Brandon Turner & Heather TurnerThe Snowball: Warren Buffett and the Business of Life by Alice SchroederFire Round QuestionsWhat questions Should you ask property managers in an interview to get a feel for which ones are the best?How do you start a Property Management Company?What is the expected turn around for getting a property ready for a new renter by a property manager?When is self managing too much?What are some of your absolute “No’s” when screening tenants?I am about to have my first renter, what are some do’s and don’t that you would recommend?Tweetable Topics:“When you know the people, you know what’s going on.” (Tweet This!)“If you are unhappy, your systems are broken.” (Tweet This!)“Do the things that make you feel light and not the things that make you feel heavy.” (Tweet This!)Connect with JesseJesse’s BiggerPockets ProfileJesse’s Company Website