The Same Day Podcast

Steven Shannon is the Principal of Shannon Property Management, a Houston-based company that manages single-family residential homes, small to midsize family assets, and commercial business parks. He descended from a family with strong Houston routes tied to real estate and construction. Before founding Shannon Property Management, Steven was a Project Manager at CASCO Industrial Builders, where he managed industrial construction projects and real estate development.

Greg Shannon is the Principal of Shannon Property Management, where he oversees all property management aspects, including new owner sales, leasing, accounting, and maintenance. He launched his career in real estate as a Project Sales Manager for Concierge Auctions, a luxury residential auction house where he sold multi-million dollar properties. Before joining the real estate industry, Greg was an Audit Associate at KPMG.

Property management is a demanding yet rewarding business. Going from zero to 100 properties is no easy task and takes time, dedication, and effective processes. So what is the best way to scale your property management company?

Brothers and business partners Steven and Greg Shannon emphasize seizing every opportunity. This "yes and" mindset creates recurring revenue and allows you to hire property managers. Once you've acquired enough properties to establish a reputation, it's essential to implement systems to improve your services, delegate tasks, and streamline business communication. EOS (Entrepreneurial Operating System) helps you develop a sound organizational structure to prepare for the next stage of growth.

In today's episode of The Same Day Podcast, Mat Zalk chats with Steven and Greg Shannon of Shannon Property Management about their journey of creating and scaling their property management company. Together, they share anecdotes from their father's construction business, advice for acquiring and managing your first properties, and how EOS helps create a framework for business growth and management.

Tyler Bennett is the Owner of Tyler Bennett Real Estate. He holds mortgage, real estate, and insurance licenses in Utah and owns an insurance office. Over the past 15 years, Tyler has helped investment buyers purchase and rent over 6,000 single-family residences. He is active in many real estate categories, including rentals, repositioning, development, and buying and selling assets.

When it comes to investing, many people invest their assets in the stock market. But have you considered real estate? Unlike the stock market, real estate is a tangible asset that can generate two to three times more ROI. So what do you need to know about investing in rental properties, and how can you break into this competitive and lucrative market?

One of the most essential factors to consider when venturing into real estate is the rental market. Tyler Bennett encourages investors to assess the country's top markets, source and identify profitable deals, and establish infrastructure in those markets. Tyler Bennett Real Estate provides access to favorable markets, helps you build a portfolio, and acquires experienced property managers to handle all aspects of the management process.

Mat Zalk sits down with Tyler Bennett, Owner of Tyler Bennett Real Estate, in today's episode of The Same Day Podcast to talk about real estate investment strategies. Tyler addresses real estate investment market trends, his criteria for evaluating property managers, and the benefits of investing in real estate.

John Melton is an Independent Insurance Agent and Partner at RCI Insurance, an independent insurance broker that finds personal and commercial insurance for its clients. He is also a real estate investor and an entrepreneur who's owned multiple businesses. At RCI, he specializes in worker's compensation insurance for businesses, including contractors, manufacturers, and bar and restaurant owners. After eight years of serving in the United States Air Force, John joined the Oklahoma Air National Guard, where he received the rank of E-5 Staff Sergeant, journeyman status as an in-flight refueler, and craftsman status as a vehicle operator.

Kyle Beggs is the Owner and CEO of RCI Insurance and a real estate investor with over 25 properties. As a designated commercial lines coverage specialist, he has been named as one of the 42 Young Guns in the industry by Insurance Business America magazine. Kyle is also the President of the Rogers State University Alumni board and serves as the Executive Vice President at the Chamber of Commerce.

The 2023 insurance market is projected to be the most challenging. Inflation has increased the cost of rates and premiums, and Hurricane Ian has impacted commercial carriers' profitability. When it comes to commercial multifamily property insurance, optimal coverage is especially difficult to find. How do you assess policies and ensure the best rates?

Policy terms and conditions are becoming increasingly strict, so John Melton says to always analyze the fine print when comparing carriers. For instance, vacant multifamily properties often have little to no damage coverage, and a penalty may be imposed if your property is not insured at its initial value upon a loss. Kyle Beggs always selects policies with replacement costs to offset possible coinsurance penalties and says to be aware of your loss ratio to get affordable rates.

In today's episode of The Same Day Podcast, Mat Zalk talks with John Melton and Kyle Beggs of RCI Insurance about the commercial property insurance market. Together, they discuss the costs of commercial multifamily property insurance, how to compare insurance policies, and the impact of inflation on rates.

Will Gilbrech is the Co-owner of Franklin Heating & Air, a family-owned business named one of the fastest-growing HVAC companies in the US. He was one of the first employees at DataRank, a Y Combinator backed startup company that sold for eight figures. Will began as a Consumer Insights Analyst and Sales Executive before transitioning to the Director of Business Development.

HVAC business owners face numerous operational considerations, including hiring managers and technicians and choosing an ideal sector for services. So what does it take to build and scale a profitable HVAC company from scratch?

As the founder of a leading HVAC business not backed by private equity, Will Gilbrech believes in the value of hard work. Determination combined with a talented and analytical team is integral to long-term success. Will says that you have to acquire quick learners who are interested in the industry and can grow with the business. Additionally, when structuring your services, Will warns against partnering with home warranty businesses which can be deceiving. It's also not wise to venture into new construction because it requires a great deal of labor with little cash flow in return.

Join Mat Zalk in today's episode of The Same Day Podcast as he hosts Will Gilbrech, Co-owner of Franklin Heating & Air, to discuss his journey of building an HVAC business from scratch. Will also talks about the challenges of managing a successful HVAC company, how he educates consumers in different industries about HVAC maintenance, and tips for maximizing the use of HVAC systems.

Casper Palmer is the Inspection Director for Tulsa Housing Authority (THA), which provides low-income families and individuals with safe, affordable, and decent housing. He has been with the organization for more than 20 years.

Housing choice voucher programs are valuable opportunities for low-income families, individuals, or the elderly to receive safe and affordable housing. Officially known as Section 8 housing, these programs can have a negative reputation, with landlords believing that tenants may take advantage of the assistance or damage properties with no repercussions. So why should you provide housing for Section 8 programs, and how can you benefit from them?

According to Casper Palmer, Tulsa Housing Authority (THA) requires property inspections to both enhance living conditions for the tenant and ensure that landlords have control over their housing. While property owners are responsible for maintenance repairs when issues are discovered upon initial inspection, they can report tenant damage to THA at any point during the tenant's stay. Residents must pay the repairs for any damage caused, or they risk losing their housing voucher. With guaranteed rent payments from THA and tenant accountability, you can maximize your rental portfolio while providing assistance to people in need.

Listen to this episode of The Same Day Podcast with Mat Zalk as he interviews Casper Palmer, Inspection Director for Tulsa Housing Authority, about Section 8 programs. Casper explains the required inspections for Section 8 housing, how landlords are notified of upcoming inspections, and THA's process for tenant accountability.

Yonatan (Yoni) Schmidt is the Regional Vice President of Sales and Marketing at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, and Arkansas. After working as a financial analyst at a private equity firm, he founded Tulsa Property Lad to offer clients a better way to buy, sell, manage, and invest in real estate. Yoni provides comprehensive Oklahoma real estate services and listings, supported by first-class customer service.

Are you considering hiring a property management company to help with the rental process? Service fees and rental prices are some of the most common concerns among property owners, and many are hesitant to seek assistance as a result. So how are property management services typically priced, and where can you find an affordable company?

When it comes to services, many property management businesses utilize a tiered fee structure based on the number of rental properties owned. For instance, Keyrenter Property Management requires 10% of gross rent on one or two rentals, 8% on three to 11 rentals, and 7% on more than 11. Rental pricing depends on local market conditions, so Keyrenter assesses rent compensation within a two-mile radius and a 12-month period to establish a median price.

In today's episode of The Same Day Podcast, Yonatan (Yoni) Schmidt, Regional VP of Sales and Marketing at Keyrenter Property Management, is back to chat with Mat Zalk about Keyrenter's rental pricing and service fees. Yoni explains how Keyrenter prices its services, property owners' responsibilities during the management process, and how to determine the median price of rentals.

Joseph Alcott is a Home Inspector at Spartan Home Inspection, a veteran-owned and operated company that provides residential home and termite inspection services. In his role, he evaluates residential properties to ensure compliance with regulations and prevent malfunctioning systems, safety hazards, and infrastructure damages. Joseph is also the Weapons Safety Manager for the United States Air Force, where he manages the installation of weapons safety programs and advises command, staff, and operating officials on weapons safety requirements, standards, procedures, and risk assessments.

When purchasing a property, many buyers don't consider the level of maintenance a home requires. While many are savvy enough to detect surface-level damages, it takes an experienced home inspector to assess larger risks, such as gas leaks or wood rot. So should you invest in home inspection services, and how can you ensure you're getting the most value for your dollar?

According to Joseph Alcott, 46% of home buyers have used inspection reports to negotiate a lower price for a property. Home inspectors perform a comprehensive evaluation of each property to mitigate safety hazards that would otherwise pose significant risks or require extensive maintenance in the future. By utilizing these services before making a purchase, you can save up to $14,000 on the home's price and maintenance costs.

In today's episode of The Same Day Podcast, Mat Zalk speaks with Joseph Alcott, Home Inspector at Spartan Home Inspection, about the importance of conducting home inspections when purchasing a property. Joseph explains how home inspectors work with buyers to assess property damage, how to utilize inspection reports to negotiate home prices, and Spartan Home Inspection's veteran programs and philanthropic work.

Devin Howland is the Director of Economic Vitality for the city of Fayetteville, Arkansas. The city's department focuses on economic mobility and equity through workforce development and small business growth and support. In his role, Devin oversees and manages the municipality's economic development efforts.

Before working for the City of Fayetteville, he served as the Economic Developer for the Central Arkansas Planning and Development District, where he led recovery efforts following a tornado. Devin is also a certified economic developer with the International Economic Development Council.

Real estate prices are rising, and affordable housing is becoming scarce, especially among first-time home buyers and low-income families in urban cities. So, how are cities addressing this pressing issue, and what can you glean from their efforts?

Fayetteville, Arkansas is considered one of the fastest-growing cities and has been named one of the best places to live in the country. To maintain this status, the economic department has executed high-density housing projects in areas with notable growth potential. However, this requires extensive planning and resource analytics. Therefore, the city has prioritized each development endeavor, from infrastructure maintenance to transportation, to ensure sufficient funds. Other cities, such as Denver, Colorado and Austin, Texas, have utilized density bonuses to increase affordable housing units in designated areas.

In today's episode of The Same Day Podcast, Mat Zalk hosts Devin Howland, Director of Economic Vitality for Fayetteville, Arkansas, to address housing disparities and economic development. Devin talks about how Fayetteville's government facilitates housing and economic development, how the city's tax rates impact development, and the importance of prioritizing infrastructure growth.

Mat Zalk is the President and CEO of Keyrenter Property Management, which manages about 3,500 single-family rental homes across Tulsa, Oklahoma City, Northwest Arkansas, Wichita, Kansas City, St. Louis, and Indianapolis, with a new office in Ocala, Florida. He has grown the company in part through the acquisition of local property management companies.

Before founding Keyrenter Tulsa, Mat was a Strategy Director at The Property Finder Group in Dubai, where he worked with the CEO and senior team, scaled local teams in Saudi Arabia and Egypt, and led strategic projects in the company's core Dubai market. He has been an active real estate investor since 2014, holds real estate licenses in Oklahoma, Arkansas, Missouri, Kansas, Indiana, and Florida, and is a past president of EO Tulsa. He co-hosts The Same Day Podcast with Yoni Schmidt.

Evictions are an unpleasant yet necessary part of property management. Property owners are often hesitant to evict a tenant and use it only as a last resort. But, delaying evictions diminishes cash flow, directly impacting ROI. So, how can you conduct an effective eviction that benefits you while giving the tenant leeway?

According to Mat Zalk, the eviction process should be tactical and occur within the first month of delinquent payments. For Keyrenter Property Management, this entails issuing a late rent notice five days after the payment date and initiating the legal process another five days following the notice. The company also conducts mediation so the tenant and landlord can reach a mutually favorable agreement. Whether you have a tenant who makes consistent late payments or a resident who refuses to leave, Keyrenter can take over the eviction process and oversee the management of the property thereafter.

Tune in to this episode of The Same Day Podcast as Chad Franzen of Rise25 catches up with Mat Zalk of Keyrenter Property Management to discuss how to handle evictions. Mat discusses Keyrenter's eviction and mediation processes, the greatest challenges of the property management industry, and COVID's effect on evictions.

Yonatan (Yoni) Schmidt is the Regional Vice President of Sales and Marketing at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, and Arkansas. After working as a financial analyst at a private equity firm, he founded Tulsa Property Lad to offer clients a better way to buy, sell, manage, and invest in real estate. Yoni provides comprehensive Oklahoma real estate services and listings, supported by first-class customer service.

Owning and renting real estate properties can be complex and time-consuming. When evaluating a potential property management company, many owners have questions regarding the businesses' leasing, eviction, and maintenance processes. So, how are these operations typically handled, and where can you find a company that suits your needs?

After signing a contract with a full-service property management company, the owner hands over the keys so the new manager can take over managing the property. Keyrenter Property Management will renovate any dilapidated properties and establish relationships and expectations with the tenants. Keyrenter handles every aspect of the property management process, including inspections, refurbishing, tenant screening, marketing, leasing, maintenance, and evictions. The company's comprehensive leasing process involves marketing the property professionally on Zillow and using high-quality photographers, pre-qualifying tenants for scheduled viewings, and vetting tenants before leasing. Keyrenter even hires attorneys to handle evictions effectively at no additional cost to the property owner.

Join Mat Zalk in today's episode of The Same Day Podcast as he chats with Yonatan (Yoni) Schmidt about frequently asked property management questions. Yoni talks about how Keyrenter handles maintenance requests, the leasing and marketing process for vacant properties, and Keyrenter's two-week lease guarantee.