BiggerPockets Real Estate Podcast

938: Scaling from 0 to 20+ Doors Using These "Self-Management" Tools & Tips w/Amelia McGee and Grace Gudenkauf

Apr 17, 2024

Real estate experts Amelia McGee and Grace Gudenkauf share their self-managing principles for scaling rental portfolios efficiently. They discuss optimizing rent collection, utilizing property management software, strategies for portfolio management, efficient tenant management, and off-market deal tools. The episode emphasizes the importance of systems, processes, tenant selection, and promoting their book 'The Self-Managing Landlord'.

43:59

Creator website

Episode guests

Grace Gudenkauf

Amelia McGee

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Start as a self-managing landlord to gain control over tenant selection and vital skills for future investing partnerships.

Establish early systems and procedures in property management to prevent chaos, increase efficiency, and ensure scalability.

Deep dives

Benefits of Self-Managing Landlord Approach

Self-managing landlords, such as Amelia and Grace, recommend starting as a self-managing landlord to gain more control over tenant selection, learn vital skills for future investing partnerships, and save money for scaling. The boots-on-the-ground experience helps in understanding the intricacies of property management, making it easier to train property managers in the future.

Introduction

2min

Self-Managing Landlord Advantages

4min

Optimizing Rent Collection and Systemizing Property Management

2min

Optimizing Rental Management Through Property Management Software

2min

Strategies for Effective Rental Portfolio Management

3min

Efficient Management of Rental Portfolios

13min

Efficient Tenant Management and Off-Market Deal Tools

6min

Tenant Selection and Property Management Strategies

13min

Wrap-up and Promotion of 'The Self-Managing Landlord' Book and Small Multi-Family Bootcamp

2min

If there’s one thing that’ll make or break your real estate portfolio, it’s property management. When done correctly, property management can feed you consistent, passive income without the everyday stressors of being a landlord. Whenever you hear people talking about bad tenants, midnight phone calls, or surprise maintenance problems, they’re really talking about property management gone wrong. So, how does a rookie real estate investor, with even just one rental property, start managing the right way so they can scale their portfolio faster?

Amelia McGee and Grace Gudenkauf, authors of The Self-Managing Landlord, did it all wrong initially. They were picking up every tenant phone call, placing every service request, taking rent payments every which way, and here’s the thing—none of it was working. As they scaled their portfolios, things only got more difficult until finally, one day, they stopped and developed a system, and like that, their businesses took off.

Now, only a few years into real estate investing, both Amelia and Grace have dozens of rental units to their names and less stress than ever before. How did they do it all WITHOUT hiring everything out to a property manager? In today’s show, they’ll share the self-managing principles they used to explode their rental portfolios while staying sane! And if you’re a new investor or are about to be one, these tips could save you YEARS of headaches!

In This Episode We Cover:

Why EVERY real estate investor should be self-managing when building their portfolio

How to start building your property management “system” that’ll save you HOURS a week

What brand new investors NEED to start doing once they have their first property

Three apps/software that every real estate investor should have

Tenant selection 101 and simple mistakes that could cost you months of rent

How to know it's time to start outsourcing and signs you need some help

And So Much More!

Links from the Show

Find an Agent

Find a Lender

BiggerPockets Youtube Channel