The Profitable Property Management Podcast 207: How to Not Die After Scaling to +20k Doors: The Renters Warehouse Story
Dec 23, 2024
Kevin Ortner, CEO of Renters Warehouse, shares his remarkable journey of scaling a property management business to over 20,000 doors. He delves into the transformative mergers that expanded their reach and discusses innovative tech and pricing strategies that drove success. Kevin emphasizes the crucial role of customer-centric approaches and the complexities of managing institutional clients. With insights on recent merges, including one with a Tokyo-based PropTech firm, he offers a compelling look at the future of real estate innovation.
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SPAC Redemption Surprise
- Renters Warehouse merged with a SPAC expecting significant capital.
- A 99% redemption rate resulted in only $2.4 million and significant debt.
From Pilot to President
- Kevin Ortner joined Renters Warehouse after six years as a corporate pilot and early real estate investing.
- He was drawn to the company's unique approach and growth potential.
A Different Flavor
- Renters Warehouse stood out early on for its different approach to property management.
- Jordan Muela noticed their unique style and intention during market discovery.