The Property Management Mastermind Show

If you could learn leadership from a Navy SEAL, would you? Flynn Cochran is a former Navy SEAL and the Chief Strategy Officer for Echelon Front, a leadership consulting firm where he is a leadership instructor. Flynn uses the consulting models from the books Extreme Ownership and Dichotomy of Leadership by Jocko Willink and Leif Babin to teach individuals and businesses the principles of leadership and how to use them change cultures and lives.

Flynn shares about his SEAL training and military career, why he left to go to business school, and what he learned there that has helped him advance in his career. Flynn also chats about some of the clients that the consulting firm has helped using these leadership principles. Flynn shares how these leadership principles are available for anyone, not just business owners, and some lightbulb moments he has shared with civilians he has taught.

Flynn is the Marque speaker at the Property Management Mastermind Conference and is also doing a three-hour add on seminar that you won't want to miss. He speaks about what he plans to teach, who his target audience is, and why attending both of his sessions will be beneficial. There will be hands-on lessons as well and discussions on decentralized command because he believes everyone needs to know their role but be prepared to step in and help anyone on the chain of command.

Listen as Flynn shares some of the topics he will touch on during the Property Management Mastermind Conference next month in Las Vegas. If you are planning on going, great, you just got a good overview of her presentation, if you haven't bought your ticket yet, don't hesitate they are getting scarce. You don't want to miss the information that will blow your mind at the conference.

Show Notes

[02:46] Flynn, how are you today?

[03:10] Flynn introduces himself, his background, and why he took the position at Echelon Front.

[05:41] He discusses the two books that Echelon Front uses to teach leadership principles.

[08:12] Flynn shares his military career and seal training with us.

[11:00] Flynn speaks about going to business school once he left the military.

[12:27] Can you tell us more about business school and why you decided to go that route?

[14:49] Flynn chats about some big clients that he has helped grow their businesses exponentially.

[17:45] What are some lightbulb moments that you have seen when training civilians on these principles?

[21:33] Flynn shares what he will be speaking about during his two sessions at PMMCon.

[23:15] He details the important leadership mindsets that he will be discussing in his Marque speech.

[27:19] Flynn describes the hands-on teaching he will give during the three-hour seminar.

[29:44] Do these principles apply to everyone, not just business owners?

[31:14] Flynn speaks about decentralized command and how you need to understand your role and how you can support individuals up and down the chain of command.

[32:44] Flynn, can you give me one tidbit of what you believe the attendees will get out of the three-hour seminar?

[34:33] Flynn, thank you so much for coming on the podcast today.

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Would you like to work yourself out of a job? Listen as Brad with his guest Jennifer Stoops shares how her boss, John Bradford owner of Park Avenue Properties, did just that. John set the stage for Jennifer to take over as his replacement so she could take the reins while he pursued other ventures and promoted her from a property manager to Executive Vice President.

Brad and Jennifer discuss what she will speak about at the Property Management Mastermind Conference in March, and the challenges she faced getting her boss to trust her enough to let her take the reins of the company. They also chat about having a contingency set up in your business so that if something happens to you and you are incapacitated, someone else can step in.

Jennifer shares how important it is to make sure to have your accounting team secure when you have someone to step in to run your company. They also discuss education, getting the necessary designations, and the need to keep up with your KPI's, so you know what is going on in your company.

Do you feel like your name has become a noun? Listen in as Jennifer shares why she feels that way about her name, why having someone assist you is necessary, and how not asking for help when you are overwhelmed can be a detriment to your job.

These are all subjects that Jennifer will touch on at her seminar during the Property Management Mastermind Conference next month in Las Vegas. If you are planning on going, great, you just got a good overview of her presentation, if you haven't bought your ticket yet, don't hesitate they are getting scarce. You don't want to miss the information that will blow your mind at the conference.

Show Notes

[02:37] Welcome to the show, Jennifer!

[02:55] Jennifer, can you give us a rundown of how you ended up as the Executive Vice President at Park Avenue Properties?

[05:28] Jennifer shares how she came to be running the company.

[06:50] She speaks about John's political aspirations to get voted to a seat in the House of Representatives.

[08:15] Brad chats about what he asked Jennifer to talk about at the PMM Conference.

[10:28] Jennifer talks about the challenges she had trying to get John to let go of the company.

[12:25] She tells us she had to show him that she would always keep him in the loop because it's his company.

[13:49] Do you have a contingency set up in case you get incapacitated and are not able to run your company?

[15:32] Jennifer speaks about knowing that John was ready to let her take over when he finally opened the books, so she had all of the tools she needed.

[17:11] Brad says that he is grooming his second in command to take over RentWorks when he is off doing other things and the challenges they have to overcome.

[20:23] They talk about how important the accounting aspect is when trusting someone to run your business.

[22:13] Jennifer and Brad discuss watching the bottom line because you are entrusted and incentivized to do so.

[25:35] Jennifer shares about having an operating slush fund and watching the budget.

[27:58] Brad speaks about getting Melanie's education and getting her designations so that she is ready to step in for him when he needs her too.

[28:54] Jennifer agrees with Brad on training and chats about when she started getting her designations.

[31:45] Brad and Jennifer discuss KPI's and google reviews and what they need to be to keep your business on track.

[34:07] Jennifer says that her name has become a noun because everyone wants to get a right-hand person like Jennifer.

[36:07] Jennifer shares how they incentivize their management teams, which can keep them motivated.

[39:00] Jennifer tells us she is a control freak and is struggling with letting go and having someone help her because she can't do it all.

[41:24] Jennifer, can't wait to see you at the conference!

[41:49] Thank you for being on the show.

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Welcome to the Property Management Mastermind show with your host Brad Larson. Brad is speaking with John Warrillow, who will be a speaker at the Property Management Mastermind Conference in Las Vegas on Tuesday, March 3rd. John is the host of the podcast Built to Sell Radio and an author of two books. He helps entrepreneurs and business owners improve the value of their company. He has worked with over 50,000 businesses so far.

John describes the books he has written. 'Built to sell' is about creating a business that can run without you, and 'The Automatic Customer' is how to build a recurring income. John also gives a teaser about his upcoming seminar at PMMCon on March 3rd, what you will learn and how that can positively affect your business.

John also discusses a recent episode of his podcast with his guest Scott Ramon and why strategic acquirers wanted to buy Scott's company. He speaks about what strategic acquirers are, what they are trying to accomplish, why a bidding war is what you want, and why an exclusive deal is the worst thing you can fall into. John also says that telling your employees that you are selling your business before you have the check is in your hand is the worst thing you can do.

Listen in as John talks about his Built to Sell webpage and the Value Builder System. He explains what they do and how they can double the value of your business. He believes that the key to successfully selling your company is how you treat your employees. If you want to sell your company at double the value, you don't want to miss this episode. So plugin and enjoy.

Have you purchased your for PMMCon 2020 yet? Don't hesitate. Tickets are selling fast!

Show Notes

[02:40] John, welcome to the show!

[02:50] John tells us a little about himself and his background.

[03:49] He describes what his first book is about.

[06:00] John talks about his second book and how that applies to property managers.

[08:09] He gives us a story about what happened at a talk he has given recently.

[09:33] Can you give us a teaser about what your seminar is about at PMMCon?

[11:09] Has your company stopped growing because you have maxed out what you can do? You need to listen to John's seminar.

[15:17] John speaks about episode 219 of his podcast Built to Sell Radio and the advice he would give anyone who wants to be in the same position as his guest.

[18:51] Is a bidding war an acceptable practice?

[22:11] Telling your employees that you are selling the business before the check is in your hand is a big mistake.

[24:00] They key to successfully selling your company is how you treat your employees.

[24:49] Can you describe the Built to Sell webpage and the Value Builder System?

[27:05] Thank you, John, for your time, and I can't wait to hear you speak at PMMCon.

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

In this episode of the Property Management Mastermind, Brad is speaking with Matthew Whitaker. Matthew runs a company called GK Houses, which is in 8 different markets, he is also a marque keynote speaker at the Property Management Mastermind Conference where he will be giving out a killer deliverable of his checklist and outline for acquisitions.

Matthew speaks about his company and the three types of money available to most people. He chats about his presentation at the PMMCon, and what you can expect to learn. Matthew discusses the industry trends he is seeing on how to value a property, how the price might deviate depending on the terms and the benefits of the seller financing.

They discuss why it is essential to know what the seller is hoping to achieve from the sell and the steps that you need to follow once a verbal agreement has been made. Matthew talks about the most labor-intensive part of the acquisition, contracts, clawbacks, and how easy it is to close when you are buying assets. He also tells us what to expect in the first 90 days once the acquisition is made.

Listen in as they chat about how to message the property owners about the sell, how property management companies are a hot commodity and sell almost instantly without the need to advertise and what the cap is on growth in the industry. He believes that not every property management company needs to increase in size and that there is a market for smaller companies.

Matthew talks about the Property Management Mastermind Conference, what his presentation will be about, and the outline he is giving everyone that attends his class. This is an excellent conversation about acquisitions and the best way to go about them.

Have you purchased your for PMMCon 2020 yet? Don't hesitate. Tickets are selling fast!

Show Notes

[03:01] Welcome to the show, Matthew!

[03:16] Matthew gives us the five W's on him and his company.

[05:05] He gives us the rundown on the three types of money out there. Venture capital, private equity and friends, and family. He speaks about which one he uses the most.

[07:42] Matthew discusses his presentation for the conference and what you can expect.

[09:32] Brad and Matthew do some role play to walk through his checklist.

[11:33] Is there an industry trend on how to value a property? What are you seeing?

[14:07] The price will deviate depending on the terms and what that means.

[17:59] What do you do once you have verbally agreed on a price?

[21:38] When selling your livelihood, you need to know that you are getting what you want out of it.

[23:38] What paperwork is done first? Do you need a non-disclosure?

[26:54] They talk about being on a need to know basis when it comes to information that is shared.

[28:54] The due diligence part of the acquisition comes next. This is where the actual probing comes in.

[31:08] Look at the NARCUM accounting standards at NARCUM.org to see your options.

[32:08] What happens after the due-diligence part is done? Are you working on a contract at the same time?

[33:47] Matthew gives his opinion on what you need to know about clawbacks.

[35:51] Matthew speaks about how smooth closing is on businesses.

[37:51] Explain what you are purchasing? Assets or Stocks?

[39:13] He walks us through the first 90 days after the acquisition is over.

[41:01] Messaging the owners is a critical factor that you must take into account.

[42:42] Management companies are such a hot commodity that they don't need to advertise a sale. They can keep it in house.

[45:10] Could you grow by 10% every year indefinitely?

[46:16] Matthew speaks about the deliverable he will be at the conference.

[47:40] Contact Matthew by text at 205-585-0415 or [email protected]

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Brad is talking with Nora Bohanon on this episode of the Property Management Mastermind. Nora is a property management company owner out of the Chicago area. They are talking today about the holy grail of software, which is the workflow platform. There are so many platforms out there right now that we just wanted to discuss them and the potential solution Nora has for everyone.

Nora talks about the difference between a ticketing system and total automation software, the different names and brands, and what they do the same and different. She gives the implementation for when these different types of software should be used, and how to tie it all into your signature platform. She also explains the best uses of the software and gives examples of each.

Find out ways to automate and reduce your staff, set priority levels, and keep the workflow going without things falling through the cracks. If you have an automated system or if you are thinking of getting one, this is the episode for you. Take advantage of what Nora is offering and look her up. She can help you decide what works best for you.

Listen in to this conversation; they cover many topics and go in-depth on the major ones; if you want answers to some of your questions concerning software and how to integrate and implement an automated system, you won't want to miss this episode.

Have you purchased your for PMMCon 2020 yet? Don't hesitate. Tickets are selling fast!

Show Notes

[02:22] Welcome to the show, Nora!

[03:11] Nora gives us a little rundown of who she is and her ideas on the workflow platform.

[04:22] She speaks about the area she works in Chicago and the challenges around it.

[06:04] What is a workflow platform? Is it a ticketing system?

[07:18] Nora is talking about total automation software; they talk about the different platforms.

[10:20] She talks about the usage of these software programs in the order they should be used.

[12:25] Can you tie this into a signature platform?

[13:32] Nora talks about automating emails and texts and the fact that folio won't integrate entirely.

[16:06] She describes the best uses of the software and explains each one.

[17:42] What is the coolest feature you've seen on these new platforms?

[20:58] This can be as complex, and you want it to be depending on the size of your company.

[22:30] How difficult is the implementation of the software you choose?

[25:01] If you automate ten tasks, will that save you a staff member?

[26:33] To find Nora and learn about these systems go to www.rentalworkflows.com

[29:05] You can set priority levels for different types of things.

[30:26] Implementing these systems is different for everyone, depending on the size of your company.

[32:56] Implement something that works with your processes, with something like lease renewals and move on to others once you learn this one.

[34:15] A personal URL is available with a personalized page and generated for you.

[35:04] Look at these platforms and find what features you want to make working your business more streamlined.

Links and Resources:

Sign Up for a Ontraport Tiral

Rental Workflows Website

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

In this episode of Property Management Mastermind, Brad is talking with Mike Connolly. Mike is an operator, and property management company owner out of the San Francisco bay area. He does property management seminars and is offering our listeners today his powerpoint and handouts free for anyone who emails him at [email protected] and leaves an honest review.

Mike discusses why he advertises by direct mail, the cost for each piece, and how fast he can recoup the expense. He talks about working with his brother Tom and how they bring both of their businesses together to benefit their bottom lines. Mike speaks about the four-page newsletter he and his brother send out quarterly and what topics they cover.

They chat about inspections and how in-depth the owners want the yearly review to be. Mike also tells us about the statewide rent control law that was passed in California and how hard it will be to get rid of problem tenants. He describes his property management seminar called, The Twelve Basics of and his investment seminar called, Should I Own, Sell or Exchange My Rental Property, and how he got started doing them.

Listen in to this conversation; they cover many topics and go in-depth on the major ones; if you want answers to some of your questions concerning your clients and how to advertise most economically, you can't miss this episode.

Have you purchased your tickets for PMMCon 2020 yet? Don't hesitate. Tickets are selling fast!

Show Notes

[03:20] Welcome to the show, Mike!

[03:43] Mike gives us a rundown of his background and what he has going on now.

[06:12] He tells us how direct mail has worked for him.

[07:27] What does each piece cost? What is your Client Aquisition Cost?

[10:21] Mike discusses working with his brother and breaks down what they each do.

[13:24] Only 5% of realtors own property themselves.

[16:00] How do you keep your owners from drifting off, so you don't lose the sale? Does the newsletter help?

[19:34] Mike chats about doing what is best for the owner, whether that is for the owner to sell or to keep letting him management the property.

[20:45] Have you ever had an owner want a full-blown inspection once a year? Do they usually request just a visual?

[25:17] California just passed statewide rent control; it's a 5% rent cap plus the cost of living increase. The real problem will be trying to get rid of a problem tenant.

[28:33] Mike talks about the seminars he does and describes what he talks about in the workshops.

[31:05] He calls his seminars a listing presentation that he gives to sixty people at a time.

[34:29] Is this educational selling at a high level? Do you get indirect referrals?

[35:41] Mike chats about his investment seminar called, Should I Own, Sell, or Exchange My Rental Property.

[38:10] Are your seminars packaged up, or how do you present them? Are they free if I email you?

[39:45] Mike believes that looking at someone in the eye and talking to them one on one gets him more business than trying to do it.

[40:38] Email [email protected] for the free seminar powerpoint and leave an honest review for Mike as a thank you for the free information.

Find Mike

[email protected]

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Welcome to the Show! In today's episode, Brad is talking with Mike Nelson. Mike has been a broker since 1981 and has had his own business since 1985. He started in a one-room office with a handful of units and grew it over time. Growth was until 2003 when he began approaching it as a business and started measuring KPI, they now have over 1900 units and are still growing.

Mike speaks about how to bridge the gap between NARPM accounting standards and measuring KPI, the ease with which you can implement the chart of accounts, how to analyze it and how to add more accounts with sub-accounts. Mike also talks about the key metric he uses in his company and how every company will have metrics specific to their business.

In this conversation, they discuss the add-on seminars going on at the Property Mangement Mastermind Conference in Las Vegas in March 2020. Mike will speak about key performance indicators, some of the bullet points that we use in our business today, and then more add on seminar information. Template Alert! Mike will be giving out templates that he has designed so anyone can upload their data and run with it.

Have you heard about the webinar that will be available before the add on seminar? Listen in to find out more about it and how it will prepare you for what to expect and how to be ready to learn everything you can at an intense level at PMMCon 2020. You won't want to miss the conference so get your tickets now!

Show Notes

[02:56] Welcome to the show, Mike!

[04:08] Mike gives a rundown on his background and when he started using KPI.

[05:49] Brad speaks about Mike having 3 hours at the seminar to teach KPI.

[06:49] Mike chats about some key things to track from the perspective.

[08:43] He discusses his cash flow analysis program that he teaches at NARPM.

[13:08] How can you bridge the gap from the NARPM accounting standards and KPI?

[15:01] Mike talks about implementing the NARPM chart of accounts and how easy it is.

[18:30] They speak about how to edit the chart of accounts to add more accounts.

[20:47] One of Mike's key metrics is net income, and he tracks the ratio of all payroll relative to gross income.

[25:14] Brad and Mike discuss work orders and the metric to use to follow them and how to their employees.

[27:47] Mike explains what to expect when you walk into his class, what he will teach, and the deliverable templates that will be given out.

[31:12] Who will benefit from your course at the seminar? CEO? Supervisors?

[33:40] They discuss the webinar that will precede the conference and what it will include.

[36:23] Do you track losses due to vacancy? How do you track it?

[41:40] They talk about when they want to put the webinar out, maybe December.

[43:52] Mike, thank you for being on the show.

[44:07] Mike's final thoughts.

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Brad is excited to have Mike Schraepfer on this episode of Property Management Mastermind. Mike is the President of Heirloom Property Management in Duluth, MN. He enjoys sharing his experience to help new investors find properties, solve financing, and work through renovations.

Mike started his career as an investor eighteen years ago and built up a portfolio of 126 single-family homes and duplexes. He renovated the properties to lease, and his property management career began. Six years ago, he began managing properties for other individuals, but he is still his biggest client.

He manages properties that he owns, which makes him the property manager everyone wants to be. His business of management is running his assets, which puts him in the top tier, probably the top 1% of property managers in the country. His company doesn't have a 401K for its employees. He decided to go a different way and teach them how to invest and manage properties, and as of right now, his staff owns about 25 units.

Mike is one of the speakers at the Property Management Mastermind Conference in March 2020. Listen as he reveals the topic of his presentation and a sneak peek of some of his key talking points. He will discuss how your company can benefit from bringing your maintenance in house and the best software to bring it all together and so much more.

Have you purchased your tickets yet? Don't hesitate; Mike is just one of the many high-level speakers that will be at the event. Listen in for a small taste of what you can expect when a group of elite property managers get together in one place. If you already have your tickets, great! If not visit the PMMCon.com and get them now before they are sold out, this is one conference you won't want to miss.

Show Notes

[02:22] Mike, welcome to the show!

[03:08] Mike talks to us about how he got into property management.

[04:08] He speaks about his alternative way of helping his staff save for retirement.

[05:57] Mike discusses the mastermind group he formed with five other people.

[07:42] They discuss the topic Mike will talk about at the Property Management Mastermind Conference. Making Money in Maintenance.

[13:09] Mike will have some excellent deliverables for the people who attend his presentation.

[14:18] What did you take away from the NARPM Conference that you are excited to use?

[16:31] Ancillary fees were implemented in Mike's company in the last year, and they have helped the bottom line.

[18:08] Mike will talk about best practices and markup vs. margin at the PMMCon.

[19:28] Bring in house everything that doesn't require a license when it comes to maintenance.

[20:50] What software do you use to run maintenance estimates? Do the techs have tablets?

[23:13] Mike says he is most excited about the black-tie event at the conference.

[23:56] They talk about presentation ideas for other meetings.

[25:15] Scott Brady asks the question, "How can you run a property management business without any management fees"?

[27:26] Operational management is conducting maintenance at a high level.

[27:58] They chat about Mike going to Madrid, Spain, to his business and come up with new ideas.

[29:07] See you in Las Vegas, thank you for coming on the show!

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

Property Management Mastermind, Welcomes Andrew Reece, Co-Founder of Inspect Real Estate. He built a property management company in Australia from scratch and transitioned that into property management software to further industry development. We are lucky enough to have Andrew as a keynote speaker at the Property Mangement Mastermind Conference in March of 2020.

Andrew went to university for accounting. Once he graduated, he became an accountant for realtors and real estate agents. He was involved in bringing the ReMax franchise to Australia, which was his entry into real estate as an accountant for the real estate industry. He opened up his agency, ProRentals, with 31 properties under management and grew that to 1756 within ten years.

Listen for a sneak peek of what Andrew is going to present during his class at the Property Mangement Mastermind Conference. It's a well-known fact that the US is about ten years behind Australia in the real estate industry, and Andrew is the one to help get everyone up to speed. He is going to let everyone in on what has worked for him, what didn't, and how his property management software can be an asset.

They discuss the differences between property management in Australia and the United States, the regulations, and how much harder it is to get a lender to here in the states. They do roll playing with a script that Andrew's team uses to get owners that self rent to discuss using a property management company and the value they bring.

Andrew speaks about how they developed the industry tracking software and how it has evolved into the tracking mechanism for all facets of management. He talks about how it helps workflow from maintenance requests to vendors to knowing the job is, and this is just a small part of the whole program.

This episode is one of a kind, and we are fortunate to be able to talk to Andrew and fortify ourselves with knowledge from someone who started as an accountant and now has over 2500 offices that focus on Inspectrealestate.com.au. Grab a pen and paper because you will want to take notes as you listen.

Show Notes

[02:53] Welcome to the show, Andrew!

[03:24] Andrew gives us a brief rundown of who he is, what he does, and why he does it.

[06:20] Andrew discusses the software they developed and how it has grown.

[08:03] They discuss their maintenance software that helps the workflow side.

[09:16] Andrew talks about a tracking device they have on the keys to make sure they have been properly checked out.

[10:17] He chats about all the ways they track leads, sales inquiries, and other sources to stay on top of any business leads.

[13:13] Andrew discusses what his presentation will be about at the conference.

[16:05] They examine the deck of cards with tips on how to follow up.

[18:50] Andrew discusses the financial calculators that are on his website and how they work.

[20:33] How much are selling for in New Zealand and Australia?

[23:15] He talks about the rent roll lenders in Australia and the difference between the two countries.

[25:45] Andrew chats about how they began developing the software and how it increased their business.

[27:40] What do we have here in the US that you don't have in Australia?

[28:44] What do you have in Australia that we don't have here in the states?

[31:48] They roleplay renting a property. Andrew shows Brad how he gets the owner to use a property management company.

[35:39] Andrew speaks about the other stuff he is going to talk about at the conference.

[38:13] What motivates you? Money? Time off? Competition?

[39:35] Thank you for being on the show today!

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com

In this episode of Property Management Mastermind, Brad welcomes Kevin Knight. Kevin is the President of Liberty Mangement Inc. He, along with his partners, brought the SureVestor insurance program to the United States from Australia. As a property manager for over 20 years, he is very excited to offer this product to his customers.

This program covers what owner's insurance does not and helps alleviate the fear of malicious damage and unpaid rent that owners feel when they hand over their property to renters. This also benefits property managers because it can only be purchased through a property management company, owners do not have access to it any other way.

Kevin believes that this insurance is something that addresses what owners want, and it is so easy that marketing is a breeze. With the rental market, the way it is the ability to offer something so diverse might make the difference when trying to pull in the self-managed landlords.

Brad and Kevin discuss the PM health group and encourage all property managers to take the time to be as healthy as they can. Kevin says, "the best way to improve your business is to improve your health," which is why SureVestor is sponsoring ten individuals for the 5K run/walk at the NARPM National Conference.

If you are trying to grow your property management company, this is an opportunity you won't want to miss. Listen in to find out about this new way to give your business a boost with a program that benefits all involved. Kevin is so excited about this that he will get you fired up as well. So get ready to be inspired to expand your business.

Show Notes

[02:29] Welcome to the show, Kevin Knight!

[03:27] Kevin tells us about the insurance program called SureVestor.

[05:45] They discuss the Australian rental market and how different it is from the U.S.

[06:51] For more information about this program, go to www.SureVestor.com.

[07:45] Kevin speaks about owners needing to use a property management company to be able to purchase this program.

[09:17] Brad talks about Kevin losing 50 pounds and being part of the PM health group.

[09:42] Kevin chats about being at NARPM National Conference and SureVestor, sponsoring 10 people in the 5k walk/run.

[10:45] Kevin tells us his recommendations for the implementation of the SureVestor insurance product?

[13:52] Lloyds of London is the company that is underwriting the insurance for SureVestor.

[15:48] Kevin speaks about the hard hitters he has coming in for the NARPM National Conference.

[16:43] Because of the rules and regulations we have now in the states, it is getting harder for individuals to rent properties.

[18:45] Kevin says that there will be a film crew at the conference for property managers to film intros.

[19:34] Brad talks about the relationship between vendors and attendees at the Property Management Mastermind Conference in March 2020.

[21:37] The best way to improve your business is to improve your health.

[24:04] Kevin believes this insurance addresses what owners want, and it is so easy.

[25:37] If the owner wants this, how does a property manager request this insurance? Is there a portal?

[27:49] How much does something like this cost? Are there different options?

[29:22] It makes your property management company more like to get business if you offer the insurance, and others don't.

[30:30] The key to selling this is marketing and the opt-in and opt-out form.

[33:24] Brad discusses the BizDev seminar for more information go to www.bizdevseminar.com.

[35:45] Kevin talks about pulling in self-managed landlords with the SureVestor product and how much business is out there for property management companies.

[38:44] What is something else about SureVestor that you are excited about?

[41:10] Kevin's last thoughts about coverage and letting your current owners know about the program.

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook

[email protected]

(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank

Insurance Management Group

(918) 728 8992 (Derek Scott with Insurance Management Group)

zInspector

FilterEasy

Property Meld

Richard Drake

NARPM Southern States Conference

National Apartment Association

NARPM Accounting Standards

Kevin on LinkedIn

For the Property Management Mastermind Conference information https://pmmcon.com/

For the Business Development Mastermind Seminar https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385

Bizdevmastermind.com