Property Management Growth with DoorGrow DGS 305: Beyond Bricks: The Psychology of Smart Property Buying
For many investors, they start their journey by connecting with a real estate agent who doesn't match their values or understand their goals.
In this episode of the #DoorGrowShow, property management growth expert Jason Hull sits down with Andrew Rhatigan from Rhatigan Real Estate to go deep into the intersection of strategy and psychology and property investment, from navigating relocations and high-value deals to uncovering the mindset shifts that drive success in real estate.
You'll Learn[04:21] Using Psychology to Figure out Investors' Motivations
[09:07] The New Model of Selling: Empathy
[13:16] The Property Management Industry in Ireland
[21:09] Saving Investors 80 Hours Per Month and Retaining Value
Quotables"Most people's end goal is not to have rental property. There's a reason why."
"If the investment vehicle isn't going to help them achieve their why or their purpose, then it's probably not a good idea."
"I think that's really the crux of actual, valuable, true selling. It's not about trying to force people or convince people to buy a product or a service or to get into something. It's about figuring out, do they even need what maybe I could offer them?"
Resources TranscriptAndrew Rhatigan (00:00)
instead of just being sold something for the sake of transacting,
Jason Hull (00:00)
And instead of just being sold something for the sake of transacting,
Andrew Rhatigan (00:03)
they've been guided to something that's going to suit their risk tolerance, their life now, and also the future if they chose to rent it in time to come.
Jason Hull (00:03)
they've been guided to something that's gonna suit their risk tolerance, their life now, and also the future if they chose to invest in the
All right, I am Jason Hull, the founder and CEO of DoorGrow, the world's leading and most comprehensive coaching and consulting firm for long-term residential property management entrepreneurs. For over a decade and a half, we have brought innovative strategies and optimization to the property management industry. At DoorGrow, we have spoken to thousands of property management business owners, coached, consulted, and cleaned up hundreds of businesses, helping them add doors, improve pricing, increase profit, simplify operations, and build and replace teams.
We are like bar rescue for property managers. In fact, we have cleaned up and rebranded over 300 businesses and we run the leading property management mastermind with more video testimonials and reviews than any other coach or consultant in the industry. At DoorGrow, we believe that good property managers can change the world and that property management is the ultimate high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management business owners
and their businesses, we want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. Now, let's get into the show. And today, my guest is Andrew Rhatigan Welcome, Andrew.
Andrew Rhatigan (01:24)
Pleasure to be here, thanks for having us.
Jason Hull (01:26)
It's good to have you. So Andrew, we're going to go deep into the intersection of strategy and psychology and property investment from navigating relocations and high value deals to uncovering the mindset shifts that drive success in real estate and business and learn how your innovative approach helps investors save over 80 hours a month and retain up to 10 % more value in their property transactions. All right, so
Hopefully that's got some people ears perked up and their attention peaked and they're interested. So Andrew, give us a little background on you and how you kind of got into business and entrepreneurism and started into real estate investing and all of this stuff.
Andrew Rhatigan (02:09)
So firstly, great to be here. And even from your introduction, it made me want to get involved in what you're doing. So it was a fabulous insight into the value you drive for your clients and potential clientele. So essentially, I suppose I've always had an entrepreneurial spirit and by virtue of life's experience, I've gone from every different avenue. And I suppose the backdrop to my life was that my family are and were in property in a very variety of ways. My late father was a developer and I have other family members that are still in development to this day. And
I suppose as I grew up, I was always interested in people and sales, but I ran away a little bit from the property side of things to go forge my own path and explore what I felt, you know, my version of winning was. And I originally studied psychology because at the time I thought it would sound good at a dinner party. I'm happy to say that now at the age of 40, that at the age of 18, guess what? Mic drop. I had no idea what I wanted to do with the rest of my life. So I studied what I thought would sound good at a party.
Jason Hull (02:47)
explore what I felt my version of winning was. And I originally studied psychology because at the time I thought it would sound good at a dinner party. I'm happy to say that now at the age of 40, that at the age of 18, guess what? Mic drop. I had no idea what I wanted to do with the rest of my life. So I studied what I thought would sound good at a
party.
Andrew Rhatigan (03:06)
But how it benefited me was that I understood more about myself, my inner workings, my drivers. And as I grew, I had different businesses throughout my life, but it all centered around two things, sales and people. And I suppose that was built on a foundation of authenticity, trust, and really seeking to build relationships for the long term rather than transactions. And I was in property, been in property for the last 10 years. And when COVID hit, I saw an opportunity to build a business.
Jason Hull (03:07)
But how it benefited me was that I understood more about myself, my inner workings, my drivers. And as I grew, I had different businesses throughout my life, but it all centered around two things, sales and people. And I thought that was built on a foundation of authenticity, trust, and really seeking to build relationships for the long term rather than transactions. And I was in property, been in property for the last 10 years. And when COVID hit, I saw an opportunity to build a business
based on my
Andrew Rhatigan (03:36)
based on my personality
Jason Hull (03:37)
personality type and a niche in the market that was booking the trend of generic real estate agency. So as opposed to simply transacting, charging a simple fee and of rowing in with the rest of the property agency around the world, I decided to create a consultative business that was client first. I advocate for clients and independent. And I suppose I add that layer of
Andrew Rhatigan (03:37)
type and a niche in the market that was booking the trend of generic real estate agency. So as opposed to simply transacting, charging a simple fee and kind of rowing in with the rest of property agency around the world, I decided to create a consultative business that was client first. I advocate for clients. I'm independent. And I suppose I add that layer of
Almost sports management to it, you know, so a big part of what we do is we were a fixer for a lot of our clients that come to us with almost a plastic bag full of a jumbled mixture of receipts at account season. And they come to us with a problem or an idea, and then they ask us to fix it or find a solution. And essentially we've become that advisor or that advocate for people who are looking to either put their money to work or who are looking to source a property in Ireland as a base for an investment or for supporting family or themselves going forward.
Jason Hull (04:02)
almost sports management to it. know, so a big part of what we do is we're a fixer for a lot of our clients that come to us with almost a plastic bag full of a jumbled mixture of receipts at account season. And they come to us with a problem or an idea and then they ask us to fix it or find a solution. And essentially we've become that advisor or that advocate for people who are looking to either put their money to work or who are looking to source a property in Ireland as a base for an investment or for supporting family or themselves going forward.
Well, let's get into the topic at hand then so how How have you sort of applied this psychology background that sounded cool at a party You know to you know what you're doing now with real estate investing
Andrew Rhatigan (04:46)
I think the best way to describe it
is life. You'll often have that you have a different, let's say a room of people at a variety of age brackets and they all have a different view on the world by virtue of what they've experienced, the way they see the world now and obviously their disposition to what they want from life. So I suppose what we do when we're assessing a potential client is instead of me taking Jason's budget and just finding something for the sake of it, I front load the conversation by asking what is it Jason wants from life?
Jason Hull (04:58)
I've decided.
So I suppose what we do...
of me taking Jason's budget and just finding something for the sake of it, I front load the conversation by asking what is it Jason wants from life?
Andrew Rhatigan (05:15)
What is his appetite to risk? What does he think he wants in a property? And what would that mean if we were to work through that hypothetical? And I suppose what I found quite unique is the way we work with people is I'm quite challenging to what people want to do because I'm asking the question before they've had to buy it because
Jason Hull (05:15)
What is his appetite to risk? What does he think he wants in a property? And what would that mean if we were to work through that hypothetical? And what I found quite unique is the way we work with people is I'm quite challenging what people want to do because I'm asking the question before they're fired. ⁓
Andrew Rhatigan (05:32)
that advisory piece needs to come into play. So I'm quite like an parent. So if Jason said, let's say if we looked at it from a car point of view, I need a two door sports car that goes from zero to one hundred.
Jason Hull (05:33)
advisory piece needs to commit to play. So I'm like a parent. So if Jason said, let's say if we looked at it from a cardboard view, I needed two doors sports card that goes from zero to
100, know, lickety split. I just wanted because I wanted. And I said, okay, but do you have, and I know each other before, do you have dogs? Do you like to play them out a lot? Do you have kids? Do you play golf? Right. asking those questions.
Andrew Rhatigan (05:43)
You know, lickety split and I just wanted because I want it. And I say, okay, you know, do you have, and I know we chatted before it. Do you have dogs? Do you like to take them out a lot? Do you have kids? Do you play golf? Am I asking those questions?
We're then essentially creating a foundation where I've challenged someone before they've spent money at that level to really understand what their motivations are. So property, when we're working on it, it's probably 90 % mental and then 10 % execution.
Jason Hull (05:56)
We're then essentially creating a foundation for our challenge, some before they spent money at that level to really understand what their motivations are. So property, what we're working on is probably 90 % mental and then 10 % execution.
Yeah, got it. So I love that you're kind of asking them what they want out of life first, because I mean, most people's end goal is not to have rental property. There's a reason why behind, you know,
these decisions and why they have these things. And if the investment vehicle isn't gonna help them achieve their why or their purpose, then it's probably not a good idea. So, cool. So this is kind of how you start with people.
Andrew Rhatigan (06:31)
Yeah, people are paying for it right
now. Yeah.
Jason Hull (06:35)
So then what do feel like would be the next step?
Andrew Rhatigan (06:38)
So essentially when someone has either referred to us or reaches out to us through our various websites or offerings, a big part of what I try and understand is someone's potential profile. So I could have someone that's abroad and let's say they've had a windfall from maybe a bereavement or a financial award. There may be something in that where they maybe need an hour of my time so I can guide them through why they shouldn't be making an investment, especially in the Irish market, because it is quite contentious. Supply is a challenge.
Jason Hull (06:55)
something
especially in the Irish market because it is quite contentious, supply is
a challenge. ⁓
Andrew Rhatigan (07:06)
And when people are looking
at Ireland from an international stage, they probably don't understand the nuances of it. But a big part of what I lean into with people is I will often tell people no, because I'm coming from a place that I want to make them, I want them to go away from meeting us and having that conversation, knowing that we've given the best advice for what they want from life rather than a paint by numbers that everyone can do.
Jason Hull (07:09)
they probably don't understand the nuances of it. But a big part of what I lean into with people is I will often tell people no, because I'm coming from a place that I want to make them, I want them to go away from meeting us and having that conversation knowing that we've given the best advice for what they want from life rather than a paint by numbers that everyone can
do. It's everyone's version. I go back to everyone, version of winning is different. And I originally got it from Gary Vaynerchuk about 10 years ago, which was
Andrew Rhatigan (07:29)
because everyone's version, I go back to everyone's version of winning is different and I originally got it from Gary Vaynerchuk about 10 years ago, which was one
person wants to work a 30 hour work week, they want to play video games at night and take two holidays a year. Another person wants to have every door in an apartment block and they want to build a special purpose vehicle and build for the next three to five generations, let's say. What drives both of those is inherently different. There's only one Jeff Bezos for a reason.
Jason Hull (07:38)
One person wants to work a 30 hour work week, they want to play video games at night and take two holidays a year. Another person wants to have every door in the apartment block and they want to build a special purpose vehicle and build for the next three to five generations, let's say. What drives both of those is inherently different. There's no jet-flazed off for a
reason. So when we're working with people or potentially working with people, we really want to understand what it is they want. So by asking key questions, we understand...
Andrew Rhatigan (07:58)
So when we're working with people or potentially working with people, we really want to understand what it is they want. So by asking key questions, we understand
their background, their motivators, their appetite to risk their life cycle as well. Because if someone makes a lot of money, they maybe want to put it to work rather than leave it in a bank. But if someone is not equipped to have, I suppose, the wherewithal to understand when you're putting money into, into real estate, what the implications are, they maybe need someone to tell them not to do it.
Jason Hull (08:06)
their background, their motivators, their appetite to risk, their life cycle as well, because if someone makes a lot of money, they maybe want to put it to work rather than leave it in the bank. But if someone is not equipped to have, I suppose, the wherewithal to understand when you're putting money into real estate, what the implications are, they maybe need someone to tell them not to
do it, to put the money somewhere safe and to take a percentage of it and maybe go into some sort of a fractional ownership scheme.
Andrew Rhatigan (08:26)
to put the money somewhere safe and to take a percentage of it and maybe go into some sort of a fractional ownership scheme. So
someone who may be able to invest in a larger fund that they can weather the cost and they get a more nominal return in the long term. So I suppose a big part of how I look at it is giving people the advice they need. And then I also have a lot of people who are looking at Ireland now as a place to build a lifestyle. So we have a lot of people who are international looking at Ireland because of the lifestyle, the language and the location.
Jason Hull (08:32)
So somebody may be able to invest in a larger fund that they could weather the cost and they get more normal return in long term. So I suppose a big part of how I look at it is giving people the advice they need. And then I also have a lot of people who are looking at Ireland now as a place to build a lifestyle. So we have a lot of people who are international looking at Ireland because of the lifestyle, the language and the location.
Andrew Rhatigan (08:56)
So lifestyle because it's quite a relaxed setting, language because English is the first language
Jason Hull (08:56)
So lifestyle because it's quite a relaxed selling language because English is the first language.
Andrew Rhatigan (09:01)
and location being a jumping off point for the rest of Europe. So we see a lot of ⁓ entrepreneurs, expats, musicians, sports people who are looking at Ireland as a base even for themselves from a personal perspective as well.
Jason Hull (09:01)
and location being a jumping-on point for the rest of Europe. So we see a lot of entrepreneurs, ec-pats, musicians, people who are looking at Ireland as a face, even from themselves from a personal perspective
as well. Yeah, I like it. Well, I love what you said about the sales process, that you're not trying to shove them or push them into a particular vehicle. You're trying to figure out what would be best for them. And I think that's really the crux of actual
valuable, true selling. It's not about trying to force people or convince people to buy a product or a service or to get into something. It's about figuring out, do they even need what maybe I could offer them? And if they do need it, do they want it from me? Instead of trying to push them. And I think there's been a huge shift I've noticed in the last, I guess since COVID, we're kind of in this post trust era.
Everybody got kind of burned by COVID because they realized, hey, we were kind of all duped and tricked to some degree. then we're like, especially in the States here in the U.S., we're figuring out, well, voting sort of been fake and food's been fake and everything politically we're lied to and medical stuff is all this stuff is coming out as fake. And right now it seems like now the stuff talked about on the news is the weather's fake. so.
We're like, we feel so manipulated and we feel like we've been lied to in so many ways that trust is at this all time low. The one thing that I've noticed that people trust though, is they trust themselves. And so I think that there's a new model of selling that's really come about as a result of this. If you're trying to be effective and that's being more empathetic, it's allowing them to figure out what they want and what they need rather than just pitching and pushing.
like the old school strategies that you've gotten from all these sales gurus and trainers that have existed for the last decade or two.
Andrew Rhatigan (10:51)
Absolutely. I couldn't agree
more. And I think another side of it when you're in property or real estate is you are already a level below general viewpoints on selling because I was in the car business and in the car business, people are anxious. They're wondering if they're going to be sold something that doesn't suit. Are you telling them the truth? And I suppose some great lessons I learned from a wonderful book by Chris Voss called Never Split the Difference. I'm sure anyone in properties read it or listen to it is
Jason Hull (11:04)
anxious.
I'm telling them the truth. And I suppose some great lessons I learned from a wonderful book by Chris Voss called Never Split the Difference. I hear anyone in properties register or listen to it.
Andrew Rhatigan (11:17)
I really lean into all the fears that people have and I don't use them as a tool to sell them. I use them as a tool to say, look, I know what you're thinking. And, you know, a real estate agent is going to sell you any deal under the sun just to get a deal. So I suppose how I actually booked the trend of that,
Jason Hull (11:17)
I really lean into all the fears that people have and I don't use them as a tool to sell them. I use them as a tool to say, look, I know what you're thinking. then, know, I read a sad agent just going to sell you any deal under the sun just to get a deal. So I suppose how I actually booked the trend of that.
Andrew Rhatigan (11:33)
the way we price things and our fee is actually you pay us upfront. And the reason you do that is it turns the volume down on the opinions of others around you. rather than me doing a deal for a potentially high fee,
Jason Hull (11:34)
the way we price things that our fee is actually you pay us upfront. And the reason you do that is it turns the volume down on the opinions of others around you. So rather than me doing a deal for a potentially high fee
and frantically searching for something to shoehorn you into, I understand what your needs are. We price the package up from day one. It's fixed and you either can pay it all upfront or pay it in monthly installments. But two things that does, it enables.
Andrew Rhatigan (11:45)
and frantically searching for something to shoehorn you into. I understand what your needs are. We price a package from day one. It's fixed and you either can pay it all upfront or pay it in monthly installments. two things that does, it enables and empowers
me to say, look, Jason, we found you three deals. I actually don't like two of them because they don't make sense. One here is interesting, but I don't think it's for you just yet. There's no incentive for me not to put you into it. But by paying me upfront,
Jason Hull (12:01)
Yeah
Andrew Rhatigan (12:13)
you're paying me to tell you no. And I suppose I'm trying to really lean into that trust factor with people, which is trust me enough to pay me, but then you're going to benefit because I'm going to see you right rather than see you do a deal for the sake of closing a fee and a hope for moving on and you lose
my number. No interest. I prefer long-term relationships. And I would prefer, especially in this world now, I mean, if you gave me what 13 hours, I could be sitting in that cool room of yours talking to you. So the world is so small that
Jason Hull (12:29)
No interest. prefer long-term relationships and I would prefer, especially in this world now, mean, if you gave me what, 13 hours, I could be sitting in that cool room of yours talking to the world is so small,
Andrew Rhatigan (12:42)
build a relationship for the long term. And it means that it then lives beyond our interaction for other people to be referred to, to enjoy, to get some value from. And I love that. It just goes back to the old school way of building trust.
Jason Hull (12:43)
but build a relationship for the long-term. And it means that it then lives beyond our interaction for other people to be referred to, to enjoy, to get some value from. And I love that. It just goes back to the old school way of building trust. Yeah, I love it. I think that's a unique model to have them pay you upfront.
then you said it turns down the volume around you. Yeah, because the challenge is a lot of people's first starting point, they will go to real estate agents, which they have a very strong incentive to get a commission out of any sort of investment or real estate deal. And they're usually not really well versed in giving you good investment advice anyway, and let alone having an incentive to do so. And so this is why a lot of
Smart investors will actually usually start by talking to a property manager first, like what properties, what areas are good to have, what sort of property would be a good investment, because they're actually living in it, you know, they're actually living with that property and managing it, making sure that it can cash flow and is effective. And they're doing this for lots of different properties in that market. And so finding a good property manager is a resource. With the stuff that you do over there in Ireland,
property manager's piece of the puzzle.
Andrew Rhatigan (13:59)
Yes, so I think we're probably in the grand scheme of how Ireland works. We're probably about 15 to 20 years behind the states in a number of ways. So I suppose you're still going to have a mixture of localized property managers who are very, you know, it's a hobbyist, it's a lifestyle piece where they get, let's say up to maybe 80 to a hundred doors and they can manage it themselves with a certain level of admin, but it becomes more of a practical lifestyle piece for them. But I suppose the other side of it is
Jason Hull (14:25)
I suppose the other side
of it is you can then suddenly become a busy fool and you're not able to continue building relationships with people. Servicing clients becomes a challenge. So we're seeing a layer of both technology and I suppose a need for those who want to support larger funds. you have a lot of the investment funds coming in from all over the world and they're looking at Ireland or they're working at Ireland as a good base to be able to buy or build.
Andrew Rhatigan (14:27)
you can then suddenly become a busy fool and you're not able to continue building relationships with people. ⁓ Servicing clients becomes a challenge. So we are seeing a layer of both technology and I suppose a need for those who want to support larger funds. So you have a lot of the I-Res, know, the investment funds coming in from all over the world and they're looking at Ireland or they were looking at Ireland as a good base to be able to buy or build purpose-built
Jason Hull (14:52)
purpose-built rental facilities. So when you look at Ireland
Andrew Rhatigan (14:52)
rental facilities. So when you look at Ireland now,
Jason Hull (14:56)
now, you are seeing a prominence of people seeing value in having that layered system of a service you can log an issue in, a ⁓ one-tier contact system where you don't have to forget that Mary looks after accounts, but she doesn't look after facilities, and John looks after X and not Y. And I think people are looking
Andrew Rhatigan (14:56)
you are seeing a prominence of people seeing value in having that layered system of, know, a service you can log an issue with. I suppose a one tier contact system where you don't have to forget that Mary looks after accounts, but she doesn't look after facilities and John looks after X and not Y. And I think people are looking at that
as an opportunity to streamline a service for people. But I suppose to be honest with you as well, the challenge for us historically is
Jason Hull (15:17)
to streamline the service for people. And I suppose to be honest with you as well, the challenge for us historically
is those who want property managed, understanding the value involved and having someone, like you said, who does it every day, knows exactly how to deal with people, who understand the nuances of it, and paying them to do so on an ongoing basis so they can outsource that whole process and that support going forward. Got it. All right, we're gonna have a quick word from our sponsor, which is Blanket. So Blanket,
Andrew Rhatigan (15:24)
those who want property managed understanding the value involved in having someone like you said, who does it every day, who knows exactly how to deal with people, who understands the nuances of it and paying them to do so on an ongoing basis so they can outsource that thought process and that support going forward.
Jason Hull (15:47)
is a property retention and growth platform that helps property managers stop losing doors and add more revenue and increase the number of properties they manage while your clients with a branded investor dashboard and an off-market marketplace, while your team gets all the tools they need to identify owners at risk of churning and powerful systems to help you add more doors. So check out Blanket, I think it's a really cool platform. So, all right, back to you, Andrew. So Andrew, what?
Do you feel like you would like the rest of the United States investment world and property managers to know about Ireland? Like what, what don't we know about it? Cause we're kind of in our bubble here in the unit US a lot of times. So.
Andrew Rhatigan (16:28)
You know, I think it's
probably amazing when you look at the history of Ireland's role in the world. We're quite a new country in the grand scheme of the value we've driven internationally. And I suppose we've got obviously a very long standing historic and positive relationship with the states generally by virtue of, I suppose, our connections with the United States and that history that we have obviously going over there for a long time. But I suppose what's happening now in the last two decades is we have a lot of companies that have really shown their muster. We've had a lot of
Jason Hull (16:49)
street.
But I suppose what's happening now in last two decades is we have a lot of companies that have really shown their muster. We've had a lot
of growth from an economic perspective and we have companies and people that are probably making the most money they've ever made and they're going to put it to work. I suppose another challenge or I see challenges as opportunities as well is the Irish market at the moment is in dire need of more supply and we have some stringent planning laws that are going through.
Andrew Rhatigan (16:58)
growth from an economic perspective. And we have companies and people that are probably making the most money they've ever made and they're looking to put it to work. But I suppose another challenge or I see challenges as opportunities as well is the Irish market at the moment is in in dire need of more supply. And we have some stringent planning laws that are going through.
I suppose that they're going through the ringer at the moment because you have developers who want to build and they want to grow.
Jason Hull (17:20)
I suppose that they're going through the ringer at the moment because you have to have developers who want to build and they want to
grow and they've been stymied by a system that it can be clunky and quite slow. But I suppose when I look at Ireland from the perspective of an international platform, it's very easy to overlook everything we have that we don't have extreme heat, don't have extreme...
Andrew Rhatigan (17:26)
and they've been stymied by a system that it can be clunky and quite slow. But I suppose when I look at Ireland from the perspective of an international platform, it's very easy to overlook everything we have that we don't have extreme heat. We don't have extreme climate
events. I suppose when it comes to being central, a lot of companies have chosen Ireland because it's a good HQ for their employee base. You're going to get great talent, but you can also travel around Europe. But when people look at Ireland from an international point of view, we still have so much land.
Jason Hull (17:40)
I think there
is scope in the future to take a longer term view as to what Ireland could become from a development point of view. I think internationally there's a lot of points we could take from
Andrew Rhatigan (17:55)
that is undeveloped, that I think there is scope in the future to take a longer term view as to what Ireland could become from a development point of view. And I think internationally, there's a lot of points we could take from
clever use of building, repurposing commercial developments, repurposing commercial buildings into residential, and also taking a view to exponential growth of these large companies that will need somewhere to grow and adapt and obviously as the population grows.
Jason Hull (18:08)
Clever use of building, repurposing commercial developments, repurposing commercial buildings into residential and also taking a view to exponential growth of these large companies that will need somewhere to grow and adapt and obviously if the population
grows. But I think the opportunity for international people is to take a view as to unique building practices, potentially the next iteration of life at let's say data centers. At the moment they're in flux in Ireland, but I also
Andrew Rhatigan (18:23)
But I think the opportunity for international people is to take a view as to unique building practices, potentially the next iteration of the likes of let's say data centers. At the moment they're in flux in Ireland, but I also think that people
Jason Hull (18:38)
think that people can sometimes be overwhelmed by the concept of the perceived challenges and not seek out the unique opportunities. It's often like many business people who set up in the recession would say that was the best time to set up because it gave them the most opportunity.
Andrew Rhatigan (18:38)
can sometimes be overwhelmed by the concept of the perceived challenges and not seek out the unique opportunities. And it's often like many business people who set up in the recession would say that was the best time to set up because it gave them the most opportunity.
I think this unique position Ireland is in is we have all this space, we haven't used it, building is in flux, but I do think if someone came in with a long term view, there is great scope for growth, but it's just about taking an outside eye and having the patience and the determination to see it through.
Jason Hull (18:53)
I think this unique position our own disease we have all this space we haven't used it building is in flux but I do think if someone came in with a long-term view there is great scope for growth but it's just about taking an outside eye and having the patience and the determination to see it through.
Okay, so maybe some listening will have that long-term vision. there's no extreme client, good talent, people speak English there, which is great for us Americans, right? Europe travel hub, there's plenty of undeveloped land, so there's investment opportunities and maybe some potential data centers being built there, stuff like this. So it sounds like there's a lot of good things that could be potentially happening in Ireland.
So this is a really dumb random question, but how do the Irish in Ireland view the state celebrating St. Patrick's Day and kiss me I'm Irish and drinking green beer and all that?
Andrew Rhatigan (19:48)
Well, I can, I can only speak for myself and those I know. I suppose the, one of the things that's very profound as an Irish person is you can overlook everything we have when you're here all the time. So the exact example, let's say someone who lives in New York, Times Square is just there and they just assume it's, always going to be there. The, know, if you're in Paris, the Eiffel Tower, et cetera. When you think of the impact and the relationships Ireland has with so many countries, much like the States, it can actually
Jason Hull (20:14)
it can
actually, it puts manners on you quite quickly when you take a good grant because you realise...
Andrew Rhatigan (20:14)
It puts manners on you quite quickly when you take it for granted, because you realize that this large
country that isn't Ireland, that doesn't have to love us the way it does, or doesn't have to embrace it the way it does, I suppose, engineers a wonderful experience for people to appreciate all things Irish, whether that be the connection to Ireland, the appreciation of having been here on holidays. And I suppose one of the things that is amazing every year is seeing that, I suppose, collection of nations that come together for a day that
Jason Hull (20:19)
that isn't Ireland, that doesn't have to lovus the way it does, or doesn't have to embrace it the way it does, really, I suppose, engineers a wonderful experience for people to appreciate all the things Irish, whether that be the connection to Ireland, the appreciation of having been here on holidays. And I suppose one of the things that is amazing every year is seeing that, I suppose, collection of nations that come together for
a day that oftentimes people might overlook in general terms by virtue of holidays. But I think probably what it stands for is more that
Andrew Rhatigan (20:42)
Oftentimes people might overlook in general terms by virtue of holidays, but I think it's probably what it stands for is more that camaraderie
openness. You know, Ireland has changed a lot in the last number of years. ⁓ And I suppose there is like everything there's always going to be the cheesy factor of people who, you know, do the kiss me I'm Irish and whatever else. But I would rather people embrace what it is we are as a very small country and they appreciate that. Like that's that's a phenomenal thing to me. And the fact that it just continues to grow each year and it's still quite amazing.
Jason Hull (20:49)
I mean it's a popular thing. We wear green just to celebrate your
country.
You know, really kind of. So, help me understand this idea of this innovative approach that's saving investors 80 hours a month and retaining 10 % or more value in their property transactions. So, explain this to
Andrew Rhatigan (21:32)
So oftentimes in Ireland, just to give you a backdrop as to how real estate agency works here, we have a very small number of buying agents. So let's say we're one of only, I would say between three and five buying agents in the entirety of Ireland. There may be more that I'm not aware of, but ones that would be more prominent. And when you look at how people tend to view a real estate transaction, it tends to be very DIY. So people in a residential setting, it's not a standard practice to...
Jason Hull (21:54)
So people in a residential setting, it's not a standard practice
to hire a buying agent and then the buying agent splits the fee with the selling agent. Oftentimes you'd have someone that meets, let's say us, and they could say, oh, I have to pay you upfront before you buy me a house. I could just do it myself, much like some partners. Right. when we're working with people and the structure we've put together is we want people, especially at the level we work with, you know, they're investors, they're C-suite executives, they're ex-paths, high net worth.
Andrew Rhatigan (21:58)
hire a buying agent and then the buying agent splits the fee with the selling agent. Oftentimes you could have someone that meets, let's say us, and they could say, I have to pay you upfront before you buy me a house. I can just do it myself, much like someone deciding to paint the garden gate. So when we're working with people and the structure we've put together is we want people, especially at the level we work with, know, they're investors, they're C-suite executives, they're ex-paths, high net worth.
They're busy building their own lives and their own, ⁓ their own vision of what they want in a different area of life. So essentially by understanding what people want, we then set about and do everything else for them. So we're searching on the ground. We're sending them deals. We're putting together an overview of what life and business and property potential is like on the ground while they're living life. And the idea being that they don't have to spend time communicating with eight or nine different agents to understand an area.
Jason Hull (22:23)
They're busy building their own lives and their own vision of what they want in a different area of life. So essentially by understanding what people want, we then set it out and do everything else for them. So we're searching on the ground, we're sending them deals, we're putting together an overview of what life and business and property potential is like on the ground or their living life. And the idea being that they don't have to spend time communicating with eight or nine different agents to understand an area.
Andrew Rhatigan (22:51)
we are the one single point of contact. So when
Jason Hull (22:51)
We are the one single point of contact.
Andrew Rhatigan (22:53)
someone signs with us, part of the deal they have to agree to is, and the reason we do it is we become the one person, the one conduit that they can ask a question to. And much like you said with your St. Patrick's Day question, there's no such thing as a dumb question. So when you have one person that's advocating for you, you could say to me, Jason, let's say, I've heard that such and such is this big issue in this part of the country. You ask us the question and then we find you the answer rather than.
Jason Hull (22:53)
So when someone signs with us, part of the deal they have to agree to is, and the reason we do it is, we become the one person, the one conduit, that they can ask a question to. And much like you said with your St. Patrick's Day question, there's no such thing as a dumb question. So we have one person that's advocating for you. You can say to me, Jason, let's say, I've heard that such and such is this big issue in this part of the country. You ask us the question and then we find you the answer, rather than
Andrew Rhatigan (23:19)
you asking someone else who maybe doesn't understand your situation, doesn't
Jason Hull (23:19)
you asking someone else who maybe doesn't understand your situation.
Andrew Rhatigan (23:22)
care enough to do the due diligence that you require. And a big part of why we do that is it simplifies the process for people. It provides one simple channel of communication, but it also buffers them from the market itself. Because if I'm looking at different deals, I might have 10 or 15 clients at any given time. And the agents who see me, they know me, they see me coming.
Jason Hull (23:22)
doesn't care enough to do the due diligence that you require. And a big part of why we do that is it simplifies the process for people. It provides one simple channel of communication, but it also buffers them from the market itself. Because if I'm looking at different deals, I might have 10 or 15 clients at any given time. And the agents who see me, they know me, they see me
coming, and they know that I'm acting on behalf of someone who, as Bonafides, owns in place.
Andrew Rhatigan (23:44)
and they know that I'm acting on behalf of someone who has a bona fides funds in place.
And it means that you're not going to get marketed to, you're not going to have someone that goes around me to contact Jason to try and do a deal. But it also means that when you're working with us, you've paid us to do what matters most for you and not try and do and deal with any agents. So we don't split fees with agents. No one can incentivize me to make it interesting. And I suppose where that freedom is for other people. And I suppose the education for people internationally is
Jason Hull (23:50)
And it means that you're not going to get marketed to, you're not going to have someone that goes around me to contact Jason to try and do a deal. But it also means that when you're working with us, you paid us to do what matters most for you and not try and do a deal with any agent. So we don't split fees with agents. No one can incentivize me to make it interesting. And I suppose where that freedom is for other people and I suppose the education for people internationally
is they're paying me like a consultant in a surgery in a doctor's suite that's advocating for them.
Andrew Rhatigan (24:13)
They're paying me like a consultant in a surgery or in a doctor's suite that's advocating for them and
not what they can get along the way. who can incentive, you know, make me the best offer and I'll throw them your way. No interest. And then when it comes to savings, what we do is the Irish property market is also very nuanced. So we don't have, you know, seven day closings or escrow accounts that have a binding contract in the space of a couple of days. Ireland's sales process can be very protracted.
Jason Hull (24:20)
and not what they can get along the way. who can incentive, know, make me the best offer and I'll throw them your way. No interest. And then when it comes to savings, what we do is the Irish property market is also very nuanced. So we don't have, you know, seven day closings or escrow accounts that have a binding contract in the space of a couple of days. Ireland's sales process can be very protracted.
Andrew Rhatigan (24:42)
So when we're involved and we understand the nuances of a sale, we can save people time and money because the seller has different motivations. One
Jason Hull (24:42)
So when we're involved and we understand the nuances of the sale, we can save people time and money because the seller has different motivations.
Andrew Rhatigan (24:49)
person may need time, so they may want less money, but more time in a property. Another person may have financial commitments that they have to adhere to, and we might be able to put something together. Other people, could be a bereavement where they have to offload a part of their property portfolio for tax reasons or for personal reasons. So because we can understand and get to the crux of a sale background quite quickly,
Jason Hull (24:50)
One person may need time, so they may want less money but more time on the property. Another person may have financial commitments that they have to adhere to and might be able to put something together. Other people it could be a bereavement where they have to offload a part of their property portfolio for tax reasons or personal reasons.
So because we can understand and get the crux of the sale background quite quickly,
Andrew Rhatigan (25:10)
I can save people time by telling them there's no point engaging in this because it's an illegal battle. It's going to take time. Or I might say, look, they're asking X, but they'll take Y. They just want Christmas in the house until we take over the sale. And by understanding that you can find that sweet spot and capitalize and save them the money where it matters most.
Jason Hull (25:10)
I can save people time by telling them there's no point engaging in this because it's an illegal battle. It's going to take time. Or I might say, look, they're asking X, but they'll take Y. They just want Christmas in the house until they take off the sale. And by understanding that, you can find that sweet spot and capitalize and save them the money where it matters most. Got it. Yeah. So you're this advocate that helps them kind of balance the negotiation between time.
money, all the needs of the buyer and the seller and make sure that this is working. You're advocating for them. You're advocating for them. So what else would you like to share before we wrap up? And then how can people connect with you if they're interested in maybe hearing more about investing in this in Ireland market?
Andrew Rhatigan (25:57)
Yeah, so first and foremost,
suppose one of the challenges when you're coming from abroad is when you're not on the ground, it's very difficult to be heard. And I think oftentimes people will be SEO and Googled within an inch of their life, looking at properties or looking at areas that are sold as a particular dream to them via this lovely screen that's curated through carefully utilized marketing platforms. And I suppose when people, if they're looking from the States, one big thing I would say is an agent in Ireland, if you, if you
Jason Hull (26:15)
that's curated through carefully utilized marketing platforms. Right. Because when people, they're looking from the States, one big thing I would say is an agent in Ireland, if you
request details from an ad, isn't going to tell you it's not going to suit your needs. They're just going to sell you what they have for sale. Yeah. But oftentimes, when I encourage anyone when they're assessing Ireland, even if you're only paying a small fee to understand whether this is a market that's going to suit your needs or not, it's important to reach out to someone. It doesn't have to be me.
Andrew Rhatigan (26:25)
request details from an ad isn't going to tell you it's not going to suit your needs. They're just going to sell you what they have for sale. And oftentimes, when I encourage anyone when they're assessing Ireland, even if you're only paying a small fee to understand whether this is this is a market that's going to suit your needs or not, it's important to reach out to someone. It doesn't have to be me. That
will give you a practical on the ground look at what your money is going to do for you and if Ireland is going to suit. And a prime example would be today we had an American client
Jason Hull (26:45)
that would give you a practical on the ground look at what your money is going to do for you and if Ireland is going to suit and a prime example would be today we had an American client
Andrew Rhatigan (26:54)
very successful and they went through an ad to find a property in a certain part of Ireland that was absolutely not going to suit their needs. And it was a very high value property, all things considered. And by spending time with us, we showed them what they could have without skin in the game. And
Jason Hull (26:55)
very successful and they went through an ad to find a property in a certain part of Ireland that was absolutely not going to suit their needs and was very high value property all considered and by spending time with us we showed them what they could have without getting the game
Andrew Rhatigan (27:10)
we completely changed the narrative. So they would have been buying in a very industrial area. It would have been very imposing. They wouldn't have been getting what Ireland is all about. And then
Jason Hull (27:11)
and we completely changed the narrative. So they would have been buying in a very industrial area. It would have been very imposing. They wouldn't have been getting what Ireland is all about. Wow.
Andrew Rhatigan (27:20)
by showing them this and giving them the time they needed to kind of transition almost like, you know what, if you're up a mountain to acclimatize, we've now agreed them a property as of today that saved them 450,000 on their budget and has totally flipped the script on where they thought they wanted to buy. So instead of buying industrial, they're
Jason Hull (27:21)
By showing them this and giving them the time they needed to kind of transition, almost like, you know what, if you're going up a mountain to acclimatise, we've now agreed them a property as of today that saved them 450,000 on their budget and is totally fit to script on where they thought they wanted to buy. So instead of buying industrial.
Andrew Rhatigan (27:39)
buying by the ocean. And instead of buying something that's brand new, that looks great today, they're buying something that's got great pedigree. And instead of just being sold something for the sake of transacting,
Jason Hull (27:39)
they're buying by the ocean and instead of buying something brand new that looks great today, they're buying something that's got great pedigree. And instead of just being sold something for the sake of transacting,
Andrew Rhatigan (27:48)
they've been guided to something that's going to suit their risk tolerance, their life now, and also the future if they chose to rent it in time to come. So that's just a simple example of what we do regularly.
Jason Hull (27:49)
they've been guided to something that's gonna suit their risk tolerance, their life now, and also the future if they chose to invest in the time to come. So that's just a simple example of what we do regularly. Nice, yeah. So instead of being manipulated by marketing, thinking you're buying some beautiful Irish property in Ireland,
and you end up in an industrial area with something shiny and new that maybe isn't going to really suit your needs, then it'd be better to have a conversation with somebody that's real solid boots on the ground that are going to take a look at things and help you figure out what's actually going to help you reach your goals. Exactly. And people tend to reach out to
Andrew Rhatigan (28:23)
Exactly. And people tend to reach out to me through
either RRE.ie that's our website. And we also, I'm very active on LinkedIn. So anyone that wants to connect or ask questions or book a zoom or a virtual coffee is more than happy to do so. I suppose a big part of what I love about my business and it's, it's, suppose as an entrepreneur as well, as much like meeting people like you is I love interesting conversation and meeting people with dynamic outlooks and personalities. And that kind of layers in what I do in property. But first and foremost, I love meeting people as well.
Jason Hull (28:28)
and we'll.
It's, I suppose it's.
Fantastic. What's ⁓
the website again?
Andrew Rhatigan (28:54)
It's RRE.ie
so R if I'm putting an American twang on it, it would be RRE.ie.
Jason Hull (28:58)
Yeah.
R R E dot I E.
Andrew Rhatigan (29:01)
IE so Rhatigan real estate and the dot IE is the Irish
domain version of dot com.
Jason Hull (29:08)
IE, okay,
got it, okay. It couldn't get IR, I guess, so.
Andrew Rhatigan (29:12)
No, it
was IE. We also have Rhatiganrealestate.com, but RRE would be the original website that we had.
Jason Hull (29:16)
Okay.
Got it. Okay. All right. Thank you. All right. Cool. Andrew, great having you on the show. Very interesting to hear what's going on across the pond, as they say, and appreciate you being here and sharing your insight and your wisdom with us. right. Cool. So for those of you that maybe felt stuck or stagnant in your property management business, reach out to us at doorgroot.com. We would love to see if we could help you out. You can also join our free
Andrew Rhatigan (29:32)
Absolute pleasure, delighted to be here.
Jason Hull (29:45)
Facebook community just for property management business owners at doorgrowclub.com. And if you found this even a little bit helpful, don't forget to subscribe and leave us a review. We'd really appreciate it. And until next time, remember the slowest path to growth is to do it alone. So let's grow together. Bye everyone.