Property Management Growth with DoorGrow

Learn from Kass Rose about the benefits of foreclosure auction prospecting for providing a competitive advantage in growing your property management business, without doing costly marketing. Part 2 of 2 Show Notes: Kass paints a picture of what auctions look like in her market 01:40 Flipping vs. Buy & Hold 03:56 Importance of Foreclosure Specialists 05:42 Where to hang out with investor groups before the auctions 06:54 On becoming a "Rental Rain Man" expert 07:49 Turning Flippers into Buy & Hold Investors 09:12 Be careful who you associate your business with 11:16 Closed over 3000 homes as lease-ups before starting her property management company 12:46 Let's play this what if game 13:24 What she would do now if just starting 13:44 How word-of-mouth takes hold once you are a trusted expert 14:13 Rundown of the major players in the auction scene & how you benefit them 15:06 Possibilities for growth 16:45 Don't be afraid of lease-only 17:06 Teasing listeners about our full Foreclosure Auction Prospecting Event 17:48 "I have never marketed!" - The challenges of marketing vs foreclosure prospecting 19:28 Foreclosure investors are easy property management clients 22:14 Foreclosure Auction Prospecting helped her fund her dreams 23:08 Tweetables: "People who buy & sell get rich, people who buy & hold get wealthy" "I love foreclosure investors, they look at cents and dollars, it's not emotional." Resources: http://rentlucky.com/ http://www.kassrose.com/ https://rentmyway.com/ The Foreclosure Auction Prospecting Event - This is the event Kass & I discuss doing in the interview - it is some great content.

Kass has a fun story about how she got her start in property management. Learn from Kass Rose about how she used her knowledge as an auto-sales-industry veteran to grow her business from 0 to 300 doors in about 3 years leveraging the foreclosure auction scene. Part 1 of 2 Show Notes: Lightning unicorn? 02:36 Marketing is not the best way to start 05:20 Prospecting as an Expert collapses the sales cycle 06:21 Where are the investors? 07:24 How Kass was "discovered" 08:02 Real Estate looks weird to a car salesperson 10:54 Kass "get's the glue" & doesn't wait for the "be-back bus" 13:01 How an auto industry veteran had the opportunity to create something new in property management 16:50 The beautiful thing about property management 19:49 Her unique advantage in attracting & screening renters 20:45 Tweetables: "Here's the beautiful thing about property management: It does not matter if it is a hot market or a tanking market - you will always have renters" Resources: http://rentlucky.com/ http://www.kassrose.com/ https://rentmyway.com/

Learn how Tony LeBlanc has built his process for increasing rent every year with his tenants - without the uncomfortable battles, struggle, or painful negotiations - and has turned it into an opportunity to facilitate great customer service. Tony shares some fantastic mindset & philosophy that would make any owner trust him with their property - you are sure to get some valuable insights. Show Notes: Tony had large property management growth in mind from the beginning 03:01 The Biggest Challenges with Rent Increases 03:59 The fear of raising rent, the problems it causes 05:00 There's a direct correlation between rent increases & how well a property is maintained 08:13 A good property becomes a bad property if it has a bad owner 09:04 Jason's "Cycle of Suck" 09:30 Look at each property as a business 10:58 Avoiding dealing with uncomfortable rent increases is a reason to hire a property manager 11:59 Set clear expectations about future, annual rent increases with tenants at the lease signing 12:13 Contracts don't matter until it is too late, so be sure to say it to them verbally. 14:26 The lease signing process is the biggest part of onboarding a new tenant 15:06 Tenants forget. How Tony prepares tenants in advance, with phone calls. 16:20 The power of regular phone calls to every tenant 17:29 Ground Floor's process for these tenant phone calls 19:02 Good idea to shortcut this with email? 19:40 The advantage of being small & the barrier to feedback created by having a team 20:35 What about dealing with owners when tenants push back? Aim for 80/20 on increases. 21:37 The owners rely on you to be the expert - communicate income challenges & forecast for investors 23:18 Display confidence that you are the expert. 25:20 "No news is good news" is a bad strategy: The importance of positive touch-points with owners. 25:44 When clients/owners reach out for updates - that's an indicator that you aren't communicating often enough. 28:08 Tony's winning philosophy regarding treating owners as business owners 29:19 If you haven't been doing effective rent increases, how to start 30:46 Rent increases are a necessity to keeping your property management business running well. 32:01 Tweetables: There's a direct correlation between rent increases & how well a property is maintained A good property becomes a bad property if it has a bad owner 'No news is good news' is a bad strategy for client retention because it means all news will be bad news. Make your property owners feel like a business owner with a team behind them. Resources: GatherKudos Ground Floor Property Management

The second half of the interview with Michael Monteiro of Buildium. Hear some great book recommendations, discussion about customer service, hiring, and more. Show Notes: Accuracy & Availability in Property Management 01:22 Partnership & Advice in Property Management 04:00 The Top Lead Sources for Property Managers 05:51 Word of Mouth & Referrals are not enough - Diversify to Grow 06:45 The Blindspot of Selling Property Management 08:24 The Importance of Having Multiple Channels to Hit Growth Goals 09:18 Get Clear on What The Owners Want 11:25 To be Competitive - Leverage the Right Technology 11:46 The Biggest Property Management Challenges 12:16 GreatSchools - per Capita income as a Tool to Select Areas to Manage 12:56 Technology is Critical to Success 15:19 Hiring Is a Common Barrier to Growth & Helps You Focus on the Business 15:40 The Painful Transition from Solopreneur to Having a Team 16:54 Whenever you fail to inspire, you always control. 17:46 Organizational Health: Cohesion, Clarity, Over Communicate, Continue to Over Communicate it 18:46 The Importance of Having Clarity of Vision or a "Why" 20:32 Incentivizing Good Behavior or Performance With Money vs. Inspiration 21:24 When you share your purpose & values clients won't worry about the specifics once they trust you. 22:53 Even if some marketing channels aren't performing as well they have different audiences 26:16 Tweetables: "If you're perfectly available and perfectly accurate, you're just NOT screwing up. That's expected and demanded." "It's not enough to rely on just word of mouth & referrals. Property managers are having to diversify." "Whenever you fail to inspire your team, you always waste energy trying to control them." Resources: FCC Disclaimer: Wherever possible we make our links to 3rd-party sites affiliate links, which may compensate us. This does not imply that we endorse them, we are just being helpful & smart. Book: First Break All the Rules State of Property Management Report GreatSchools Book: E-Myth Revisited Book: The Advantage Book: Start With Why Buildium

The first half of the interview with Michael Monteiro of Buildium. Learn about Michael commuting by boat, AllPropertyManagement, and more. Show Notes 12,500 Customers! 01:52 Michael Commutes by Boat 02:05 Buildium's Backstory 02:47 How Buildium Stands Out Among Property Management Software 05:25 The Importance of Ease of Use in the User Experience 07:37 About The State of the Property Management Industry Report 09:23 Understand the Competition to Remain Competitive 11:29 Various Services Property Managers Can Add 13:31 You May Need to Fire Some Clients 15:42 Flat Fee Vs Percentage-Based Firms 16:28 Avoiding Being Just a Commodity 18:25 "Other" Pricing Variations 19:33 The Advantage & Challenge of Low-Flat-Fee Property Management Firms 20:44 Avoiding The Cycle of Suck 21:03 Your Ideal Customer Profile (It's not anyone or everyone) 22:40 Importance of Focus - "Managing an association is very different than managing a rental. It's hard to get really good at what you do if you don't have focus. It's also hard to differentiate." 23:39 Start Firing Worst Clients 24:22 Knowing Property Owners' Pain Provides Opportunity - Focus on Rental Marketing & Tenant Placement 25:07 Importance of Prompt Communication with Owners (Not Just Tenants) 27:16 Tweetables Know your ideal customer profile so that you can direct all of your sales, marketing, & efforts to attract more. If you're targeting everybody in marketing, you're targeting nobody "Managing an association is very different than managing a rental. It's hard to get really good at what you do if you don't have focus. Resources State of the Property Management Report Buildium (Affiliate Link)

Jon went from closing 3 doors a month to closing 30 in just 2 months as a result of getting coaching. Hear Jon discuss how he got results by working with Jason on everything other than business, first. Show Notes "You made my husband a better man" 01:16 Zero Years of Property Management Experience? 02:26 How He Discovered Jason for Coaching & Learned About the 02:57 Why Jon Started Coaching 04:14 What is coaching? 05:01 Jon's Mindblowing Realization - It's Not All About Business 05:56 The Frustrating First Month of Coaching - Health & Marriage? 06:09 Body Being Balance Business - But What About Business 07:52 Big Scary Goal of Adding 20 New Doors in 90 Days 08:11 Hit 19 Doors in First 30 Days! 09:10 The Game Changer of Mindset, Confidence, & Sales Trainings 09:43 Jon's New Problem: Too Much Growth 10:32 Now Firing Doors & Focusing on Revenue 10:53 Would Coaching Make Sense For Others? Who's a Fit? 11:20 Not Just Property Management: Meditating, Green Drinks, & Marriage? 12:17 Try Coaching for 30 Days - "My thing is...What if it works?" 14:42 "I realized if I get one deal out of this, it's paid for itself - I just can't believe the value." 12:04 "I found out really what was holding me back - had nothing to do with business - it had really nothing to do with property management." - Jon Westrom 05:56 Resources Westrom Group Property Management