Creating Wealth Real Estate Investing with Jason Hartman 1286 FBF: Property Management Strategies with Mom & Drew Baker, Client Case Study, Part 1
Today's Flash Back Friday comes from Episode 951, originally published in February 2018.
It's time for Jason Hartman to have a good, old fashioned discussion on property management. This time, however, there are THREE sides at the table.
In one corner is Jason's mom, who is an EXTREME do-it-herself self-manager. In another corner is Drew, who has always been with a property management company and isn't ready to step into the self-management world. And in the final corner is Jason, with his method of a hybrid model.
Listen in as these three discuss concerns, strategies, and tips for property management, no matter which road you decide to go down.
Key Takeaways:
[7:51] The hardest part of Jason's business is property management
[10:16] Drew's properties in Indianapolis were A builds, but after the Great Recession they're in C+ neighborhoods now
[13:05] Jason's hybrid self-management practice
[17:00] Where Jason's mom gets access to running credit reports and everything she needs to do to screen tenants
[21:58] The most important thing you need to communicate to your tenant about rent
[27:52] Property managers have inherent conflicts of interest
[29:48] How Joyce gets her property ready for the next tenant
[32:26] Questioning pricing can frequently lead to dramatic reductions in price
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