Property Management Growth with DoorGrow

Are you into technology? Do people always ask you to help them set up their tech devices? Do you take on roles and jobs where technology helps industries?

That's how Sean Miller from PointCentral describes himself. He was able to take home automation and build it into an enterprise platform for residential property managers to run their businesses better and provide an amenity that residents want.

[02:48] PointCentral focuses on residential property management; its software is designed for short- and long-term single- and multi-family property managers. [03:21] Some vendors target both property management entrepreneurs and consumers, winding up undercutting and competing with the property managers. [04:47] Convenience and operational benefits to home automation technology. [05:05] PointCentral built an operational benefit with its system for property managers and owners; that's the base of the ROI, and the rest just adds to cash flow. [05:15] Operational benefits and savings through locks and history of who is on the property; addresses vacant property risks. [06:45] Thermostats and energy settings for when tenants are home, property is vacant. [08:45] Keyless-entry offers greater security because floating keys risk is eliminated. [09:05] PointCentral home automation integrates with various systems and sites. [10:18] PointCentral uses cellular lines ( AT&T and Verizon) for 99% uptime reliability. [12:49] PointCentral is a wholly owned subsidiary of Alarm.com; gets access to robust architecture and policies. [14:08] Home automation is popular right now, but most startups fail; PointCentral will be in business down the road. [14:33] Leveraging and access to data; handling security and data privacy issues. [17:25] Data is analyzed to determine how property managers can do their job better and what information can be useful for problems. [19:56] PointCentral integrates with Property Meld to coordinate maintenance. [20:35] Onboarding process to get a property set up; cost is around $125-150. [23:12] Basic hardware package, which includes a cellular hub, thermostat, and lock, costs about $550. [24:08] Property manager could charge a fee to have a connected home (turn into profit center) and have language in the lease to prevent changes to the equipment. [24:22] Cost, operational, and other benefits of home automation with PointCentral.

Home automation offers convenience and operational benefits.

The rest is just gravy and creates a positive cash flow.

PointCentral connects and integrates its home automation.

PointCentral

Alarm.com

Property Meld

Generac

Belkin

DoorGrow Live

DoorGrowClub Facebook Group

Years ago, James Alderson of OnSight PROS witnessed challenges in property management. So, he decided to step in and step up to help property managers get better at what they do.

James wanted to develop a user-friendly and easier way for tenants to do walkthroughs. The missing piece is a new app called MyWalkThru.

[06:10] MyWalkThru app nags tenant to do walkthrough. [06:40] 3 options on MyWalkThru: Doors are 1) not applicable, 2) observed with no problems, or 3) picture and comment of problem. [08:15] App solves various problems by making sure tenant does what they need to do. [08:39] MyWalkThru is contribution focused and fills a need. [08:56] How does it compare to other software? MyWalkThru is tenant-driven. [09:50] Add a charge to cover cost of MyWalkThru for property managers. [10:16] When a tenant is set up in MyWalkThru, tenant info (as well as property info) stays in app account. [12:15] If you want to be a MyWalkThru member, you have to be given permission. [12:36] DoorGrow listeners, try MyWalkThru for free to test it and offer feedback. [13:28] MyWalkThru uses the OnSight PROS logo; separate but related. [15:00] MyWalkThru can be used for both move-ins and move-outs. [15:35] All reports are identical to assist objectivity and offer summary of issues. [19:20] MyWalkThru is for the tenant; that's the difference between OnSight PROS. [19:40] MyWalkThru was just released; only are few are using it; there may be glitches. [21:35] Benefits of signing up for new software; shape it with your input. [23:30] Future Possibility: Ways to connect with tenant and automatically send them info.

We're changing the property management industry and its reputation.

Security deposits should just to go away because disputes are a real issue.

Don't have time or interest in doing inspections? Time is better spent elsewhere.

James Alderson Email

OnSight PROS

Offloading Property Management Inspections with OnSight PROS

MyWalkThru

MyWalkThru on Google Play Store

NARPM

DoorGrow Live

DoorGrowClub Facebook Group

Do you feel misunderstood? Not like others? Crazy confused? Alex Charfen knows how you feel. He knows what you need to hear. Begin your journey of personal development.

Get a business coach to help you out. They can help you increase your revenue, and make your life easier. Alex is my business coach, and in today's episode, we talk about the entrepreneurial personality type (EPT). Successful people are stubborn and obsessive. They don't give up. The most successful people in history are different and unique.

[10:20] Everyone around you are aliens; or are you the alien? [11:08] Garage sale game changer; act of generosity. [12:41] All an entrepreneur needs is someone to encourage them a little bit. [13:40] Use social media to encourage people; feel return of momentum. [15:10] If you feel broken as a business person, learn how to have relationships and build each other up. [17:50] EPTs are asynchronous learners and developers. [18:50] Most available coaching is disappointing and abusive. [19:58] 4 Types of Personalities. [20:30] Caretaker: A need to serve; do you enjoy changing bedpans? [22:10] Communicator: Carries on oral tradition; do you enjoy small talk? [24:05] Coordinator: Love organization, memorization, and rules; do you enjoy being on committees? [26:00] Entrepreneur: Evolutionary hunter who changes things and makes others uncomfortable; can you turn it off? [28:20] Go out, be who you are, and make the change in the world you've always known you could. [29:24] "All great truths begin as blasphemies." - George Bernard Shaw. [30:05] Every great visionary was crazy until they sold something. [30:15] If the world is fully supporting you, telling you that you are right, and saying everything is going to be ok, then you are probably not doing anything very important. [30:40] Challenge beliefs in yourself; hook onto contribution and momentum.

The most successful people in history are different and unique.

All an entrepreneur needs is someone to encourage them a little bit.

Entrepreneurial personality types are asynchronous learners and developers.

Entrepreneurial Personality Type book

Tony Robbins

Dr. Wayne Dyer

Momentum Podcast

DoorGrowClub Facebook Group

DoorGrow Live

Today, I am talking to Andy Propst, who runs a national single and multi-family property management company called HomeRiver Group. The company is on a mission to become the first nationally branded property management firm in the country.

For Andy, he can't grow his company fast enough and big enough. Learn more about what Andy did to grow so many doors, so quickly.

[10:00] HomeRiver Group shifted to multi-family properties for rent investor products. [11:20] Biggest opportunity for property managers is to build their own products. [11:55] Rental demand is high, but supply is shrinking, which is bad for property managers, investors, and renters. [12:30] HomeRiver Group is a matchmaker; it bring investors and builders together for build-to-rent projects. [14:38] Builders want to build, so it is not difficult to get a builder to pay attention to you; find stats and information that tell a story and generate interest. [16:50] If you want to grow your business and be successful, you can't be passive. [18:15] HomeRiver Group follows a specific workflow to make things happen; then people come to them. [19:45] Property managers control the revenue, top line, expenses, and net operating income; you're there to make a sale and be there after the sale. [21:25] If you are never failing, that's because you are never trying new things; don't be afraid to fail. [22:30] As a property manager, you know what tenants want and what should be done to produce the most revenue and income. [24:00] Marketing is identifying a need and then supplying whatever it is to fit that need. [24:40] Timing and difficulty of expanding to new markets; need the right people to execute tasks. [27:40] Don't consider expanding unless you are looking for a lot more work to do and get a lot less more money up front; eventually it will pay back, if you do it right. [32:00] Identify companies to merge with; those with a similar culture, and forward thinkers who are adaptive and open-minded. [37:20] Big companies vs. mom-and-pop shops: There's room for both. [39:25] Big differences exist between franchises and HomeRiver Group; franchises struggle with growth. [53:20] Stop running your property management company as a paycheck model business; figure out how to build your business to sell it.

Some days I hate it; most days I love it!

Biggest opportunity for property managers is to build their products.

HomeRiver Group is a matchmaker; it bring investors and builders together.

HomeRiver Group

Integra Realty Resources

Tapestry

Site To Do Business

NeighborhoodScout

The Art of Buying and Selling Property Management Companies

DoorGrowClub Facebook Group

Property management business owners sometimes have to deal with hoarding problems. They may have tenants who pack the property full of stuff and then have to deal with the costly cleanup afterward.

Today, I am talking to Marnie Matthews, a licensed clinical social worker specializing in hoarding and clutter. She is intrigued by the mental health piece of hoarding, which has many factors tied into it. To Marnie, success is when everybody wanting help has easy access to affordable and professional help.

[04:36] Types of Hoarding: Hoarding disorder, hoarding behavior, and excessive clutter. [05:10] Hoarding Disorder: Somebody who has extreme difficulty/inability to let things go. [05:33] Hoarding Behavior: People who can address their hoarding after handling mental health issues, such as depression. [06:01] Excessive Clutter: Depending of the level of clutter, someone may have hoarding disorder or just be chronically disorganized. [06:28] Clutter you can clean up quickly and easily; does not impact daily living. [06:48] Those with hoarding disorder believe they can clean up their home, but they are actually unable to do so. [07:05] Brains of people with hoarding disorder work differently; making decisions is difficult, and then frustration and anxiety builds - nothing is accomplished. [07:57] During crisis case management with property managers, Marnie focuses on safety issues. [08:16] Uniform inspection checklist is a tool used to help people pass inspections. [09:28] Remember: Hoarding is a mental health issue; be compassionate, but continue to handle liabilities and responsibilities. [10:04] Harm Reduction Approach: Have a conversation about safety and reducing risk rather than the clutter. [11:26] Anyone with hoarding issues needs to get mental health treatment and support, but resources are limited. [11:56] Typical Response: Property managers don't know what to say because hoarding situations are overwhelming, but don't threat tenants or tell them to get rid of everything. [14:30] Tenant may not achieve 100% of what's required, ask them what happened to identify their habits - don't try to control them, but inspire them. [15:38] The Clutter Movement provides consultations and trainings for property managers, as well as services and support for tenants and their family members. [18:30] Hoarder's Mindset: What does it feel like when someone goes through your personal belongings to determine what is and isn't important? [21:00] Things people are holding onto are about their identity; it may look like trash to the rest of us, but those things mean something to the hoarder. [23:45] Marnie asks two questions: If you woke up tomorrow and your home was as you wanted it to be, what would your life be like? What is something you want to do that you are not doing or can't do now because of the clutter? [26:09] People are reward-motivated; don't focus on the problem, but something that will move them forward. [27:58] Addiction aspect of hoarding could be due to a lack of connection; hoarding is not an addiction, but associated thoughts/behaviors need to be treated like an addiction. [31:00] Difference between hoarding and squalor; hoarding regards possessions, while squalor focuses on unsanitary environmental conditions.

Hoarding is a chronic, progressive disorder. It only gets worse when triggered.

During crisis case management with property managers, focus on safety issues.

Property managers don't know what to do; hoarding situations are overwhelming.

The Clutter Movement

Marnie Matthews' Email

The Clutter Movement Individual Support Facebook Group

The Clutter Movement Family Support Facebook Group

Hoarding Task Force Network

Uniform Inspection Checklist

Minimalism on Netflix

TED Talk: Everything You Think You Know About Addiction is Wrong

DoorGrowClub Facebook Group

Do you ever change your home's air filter? Do you know when or how often you need to change it? Do you just forget about it, or are you just lazy? Do you know what size filter you need? Thanks to FilterEasy, there's no excuse to not change it.

Today, I am talking with Mark Brandt from FilterEasy, which was created to meet a simple need - help homeowners remember to change their home's air filter and what size of filter to use. Mark helps initiate and grow the property management side of the business.

[04:10] Property management side of FilterEasy is based on a simple concept in service: Starts with a need. [04:50] Tenants are even more less likely to change the air filters because they do not have a vested interest in the property; FilterEasy makes it easier for them. [05:33] This service helps property managers and their team during inspections and walkthroughs to hold the tenant accountable and provides a burden of proof. [06:28] FilterEasy listens to property managers about the need and awareness to motivate tenants. [07:55] Many companies do not understand the industry and create a product before conducting research. [09:30] After implementing FilterEasy, the property managers, owners, and tenants appreciate the convenience, saving money, and other benefits. [11:45] Not changing the air filter can cause serious and costly damage to repair. [13:30] Can you guarantee that 100% of tenants will change the air filter? No, but FilterEasy sets you up for success by increasing the number of tenants who will. [18:00] Such programs and companies are becoming necessary to provide more operating capital to grow and competitive advantages. [18:35] When owners compare companies, what is the differentiator? What sets you apart from others? Why should they choose your company? [19:15] Property managers can use reminders to let tenants know they are giving them a gift and taking care of them; generates a positive perception and produces results. [25:00] Grow with the times and culture to provide awesome service to people; compete on value.

Grow with the times and culture to provide awesome service to people.

These programs provide operating capital and competitive advantages.

What is the differentiator? Why should they choose your company?

Mark Brandt

Mark Brandt's phone number: 864-770-3909

Mark Brandt's email

FilterEasy

Cutco

NARPM

DoorGrowClub Facebook Group

Make your own decisions rather than dealing with unnecessary pain and doing what the world dictates. Find a way to hit the inspiration point, rather than the desperation point by focusing on four cores!

Today, I am talking with Preston Brown, who started in real estate as a home flipper. Now, he has seven divisions of property management: Roofing, real estate, brokerage, home flipping, hard money lending, title company, and home warranty insurance. He invests in business, but also in his body and mind.

[03:28] Preston found DoorGrow online when looking for franchise property management opportunities. [04:20] Cycles, models, and understanding the dynamics of various industries. [04:50] Impact of embezzlement on Preston's businesses. [06:00] Low cost of DoorGrow services that offered so much value and showed how to avoid the Cycle of Suck. [07:55] Preston did a study to show clients their options and costs with his companies vs. other companies; shows differences between price and value. [10:11] Preston increased pricing, got rid of bad doors, and lowered operational and staffing costs. [11:30] Launch a business at the right size; bigger is not better, profitable is better. [13:30] Psychology is linked to success; you don't buy a product, but you buy a feeling of certainty and comfort that you could achieve success with the product. [14:50] Four cores people think about to create a natural alignment: Spirituality, physical fitness, family and love, and money and wealth. [16:30] Happiness: Life condition equals blueprint; progress makes you happy. [19:55] Preston systematized all of his businesses using DoorGrow processes. [23:45] Don't focus on getting rich quick; to have the best business in the world, deliver more value than any competitor. [27:20] Your body is a direct reflection of your business. [30:00] What's your identity in each of the four cores? Notice, appreciate, and believe. [32:10] Try this tactic: Use one hour each morning to program your body and mind to attract everything you want. [34:45] Positive vs. negative emotions in business. [36:37] Secret to Success: You cannot revolutionize, you have to evolutionize. [38:35] Do 80% psychology and 20% strategy for all parts of your life and business. [40:05] Be proactive, rather than reacting and putting out fires. [42:45] Life hits everyone; you will face problems and challenges in life and business. [46:45] State value and build rapport; out pace strategy problems using psychology. [52:25] Focus on the four primary needs and two divine needs.

Launch a business at the right size; bigger is not better, profitable is better.

Lose your ego to gain a profit.

You buy a feeling of certainty and comfort that you could achieve success.

Preston Brown email

Mike Michalowicz

Tony Robbins

DoorGrowClub Facebook Group

Providing proof of funds is a problem that most property management companies face with tenants. Every property manager and landlord can benefit from better data faster. Technology can change the game of verifying tenants.

Today, I am talking with Robert Hsu, of FinRET, about how you can use the latest technology to digitally verify your applicants' income, account balances, and cash flow. He is someone who has combined his two passions and areas of expertise, real estate and technology, into an entrepreneurial business.

[06:20] Issues property managers deal with regularly. [06:45] How FinRET works with banks to prevent fraud. [07:10] FinRET instantly provides better and more data. [07:35] How FinRET gathers financial data from smaller or international banks. [09:04] FinRET is able to get expense and cash flow data that was previously inaccessible or difficult to obtain. [10:07] It allows you to make informed decisions about whether to accept an applicant. [10:14] FinRET will eventually let you score applicants to make decision-making quick. [10:58] Benefits for renters: A seamless process. [11:35] FinRET saves property managers time because financial verification was the slowest part of the process; went from being a 5-day process to only 15 minutes. [12:33] FinRET plans to create integration partnerships in the future. [13:34] Property management software leaders in the residential space. [14:34] How to contact FinRET. [15:00] FinRET's pricing structure is per use/application basis.

Every property manager and landlord can benefit from better data faster.

Technology can change the game of verifying tenants.

FinRET instantly provides better and more data.

FinRET

Robert Hsu's email

Zillow

Yardi

AppFolio

Propertyware

Buildium

Rent Manager

DoorGrowClub Facebook Group

DoorGrowClub Mastermind Group

Do you come from humble beginnings? Only have a high school diploma? Want to own and operate your own apartment buildings and real estate firm? Anything is possible. Just ask Bryan Chavis!

Today, I am talking to Bryan, who is a best-selling author and founder of The Landlord Property Management Academy. He is the author and creator of one of the top online property management designation certifications. Also, Bryan has a blog for real estate professionals and is a property management coach for Keller Williams. He coaches real estate professionals and consults for large housing authorities.

[02:35] Bryan's background in multifamily real estate leading to a school and speaking. [05:40] From being a poor student to transitioning to be an entrepreneur. [07:37] Writing a manual while working on a job to figure out how things work in property management. [09:53] Building a brand, partnerships, and relationships to manage and own properties. [10:34] Absorbing, learning, and teaching property management. [12:08] Turning the manual into a book and more books. [16:13] Fundamentals was the focus of the first book: Buy It, Rent It, Profit! [17:04] Second Book: The Landlord Entrepreneur is a follow-up with additional details. [17:38] What Bryan is working on these days; buying, renting, profiting - practicing what he preaches. [18:18] 5 phases to become an owner and make money: acquisition, implementation, stabilization, growth, and exit strategy. [22:42] Acquisition: Understanding how to evaluate a property from an income approach, cash basis, and how to evaluate from an income approach. [22:57] Implementation: Hard and soft systems needed to operate properties; What systems am I using? How am I going to operate? [23:38] Stabilization: Maximizing income and minimizing expenses. [24:00] Growth: Growing the asset's value. [24:06] Exit Strategy: Determine what you will do with a property. [24:47] Be an owner, not a steward. [25:94] Where to start to learn more - DoorGrow. [26:54] Advice for struggling entrepreneurs: restart and reboot. [27:19] How Bryan restarted and rebooted after medical issues; opportunities that help you grow as an entrepreneur. [28:58] Being passionate and making a difference. [32:50] Resilience, spirituality, and faith. [34:34] Is your business blessed to go where it needs to go? [35:55] Spending too much time on your business and becoming ineffective. [37:00] Client-centric vs. self-centric business; a life of purpose and meaning.

When you're an entrepreneur...it's something that's in your DNA.

I always wanted to own the apartment building, what did it take?

The key to any business is the franchise mindset.

The Landlord Property Management Academy

The Landlord Property Management Academy on YouTube

The Landlord Property Management Academy on Facebook

Landlord Academy Blog

Buy It, Rent It, Profit! Make Money as a Landlord in ANY Real Estate Market

The Landlord Entrepreneur: Double Your Profits with Real Estate Property Management

Keller Williams Realty

National Apartment Association

Mark Willis

Inside Power by Gary Sheffield

Many elements of the leasing process are very painful for property managers. Today, I am talking to James Barrett and Calvin Davis of Tenant Turner, a property management tool and resource that helps property managers manage their tenant leads, schedule showings, and put the leasing process on auto-pilot.

Tenant Turner removes burdens for property managers in a way that's elegant and simple. This allows them to focus on higher value-added activities, such as growing their business and adding doors.

[02:44] Tenant Turner was created out of necessity to put properties on the market. [03:12] Simplify and improve leasing process to get feedback, reliable tenants. [04:43] Tenant Turner focuses on people and simplicity backed up by support. [06:02] Client-centric vision puts you in alignment with what customers want and need. [06:53] Success was difficult initially, but became easier - it was a big, but good challenge. [07:55] Look to experts and customers in the industry for advice and guidance. [08:29] Determining if someone is a fit with Tenant Turner. [11:00] There are no shortcuts to success, including bringing on the right clients. [12:21] Biggest questions and concerns regarding Tenant Turner. [12:43] Property managers are hesitant to give up control of tenant leads. [13:35] Software, such as Tenant Turner, is becoming a necessity; it's not if, but when to plug it in to focus on growing doors and giving owners the attention they need. [14:00] Tenant Turner size is based on a company's growth goals. [15:42] Building technology into processes for improvement. [16:25] Old school vs. new thinking and possible solutions; change is challenging. [18:47] Time, savings, and other benefits of being onboard with Tenant Turner. [20:00] Unaccompanied showings trend in various markets. [23:05] Future of Tenant Turner: New technology and integration partnerships.

Many elements of the leasing process are very painful for property managers.

Tenant Turner focuses on people and simplicity backed up by support.

There are no shortcuts to success, including bringing on the right clients.

Tenant Turner

Calvin's Email

Brad Larsen

Rentwerx

DoorGrowClub Facebook Group