September 06, 2024

The Ins and Outs of Property Management With Mike Fisher of Premier Commercial Properties

1 hour 11 minutes

SUMMARY:

Mike Fisher, owner of Premier Commercial Properties, shares his journey from being a naval air crewman to entering the world of real estate. He talks about his decision to join the Navy, the rigorous training he went through, and the challenges he faced. After leaving the Navy, Mike joined his father's real estate company and learned the ropes of property management, sales, and leasing. He emphasizes the importance of financial literacy and credits his mother for teaching him valuable money management skills. Mike's story is a testament to the power of perseverance and the ability to adapt to new challenges. In this conversation, Mike Schmitt, the owner of Premier Commercial Properties, shares his insights and experiences in the commercial real estate industry. He emphasizes the importance of communication, education, and understanding the big picture when it comes to managing properties and working with clients. Mike also discusses the challenges and opportunities in the commercial real estate market, as well as his plans for scaling his business and building his own real estate portfolio.

KEY TAKEAWAYS:

The Navy provided Mike with valuable training and taught him important life skills such as discipline and perseverance.

Mike's mother played a crucial role in teaching him financial literacy and money management skills.

Working in property management helped Mike gain a deep understanding of buildings and the real estate industry.

Mike's journey highlights the importance of adapting to new challenges and continuously learning in order to succeed. Communication and transparency are key in the commercial real estate industry.

Reading and understanding leases is crucial to avoid misunderstandings and legal issues.

Working with experienced professionals, such as real estate attorneys, can help navigate complex transactions.

Proactive property management and preventative maintenance can save time and money in the long run.

Building relationships and networking are essential for success in the industry.

Having a clear understanding of clients' needs and goals is crucial in finding the right properties.

Education and continuous learning are important for staying informed about market trends and regulations.

Creative financing options, such as contract for deed, can help first-time investors enter the market.

Prioritizing tasks and being responsive to clients' needs is essential for success in the industry.

Hustle means working hard, prioritizing tasks, and being proactive in the real estate business.

CHAPTERS:

00:00 Introduction and Background

02:08 Joining the Navy and Becoming a Naval Air Crewman

08:51 The Importance of Financial Literacy and Money Management

19:23 Training and Experiences in the Navy

29:24 Transitioning to Real Estate and Property Management

35:41 The Importance of Communication and Education

36:38 Navigating Leases and Contracts

38:04 Proactive Property Management and Preventative Maintenance

39:28 Building Relationships and Networking

40:25 Understanding Clients' Needs and Goals

41:23 Continuous Learning and Staying Informed

42:47 Creative Financing Options for First-Time Investors

45:13 Prioritizing Tasks and Being Responsive

53:22 The Meaning of Hustle in the Real Estate Industry

GUEST RESOURCES:

Instagram - https://www.instagram.com/_mike_fisher/

Linkedin - https://www.linkedin.com/in/mikefisher5/

Website - https://premiercommercialproperties.com/

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By Matthew Eickman