The Profitable Property Management Podcast
187:Getting to Stable at 700 doors: How Luke Street Transformed His Business
Nov 29, 2023
Luke Street, an experienced property management professional, discusses his journey in the industry, transitioning from short-term to long-term rentals, optimizing his business for profitability and quality of life, and the role of technology. He emphasizes the importance of profitability per door over door count, achieving work-life balance through efficiency, and the value of mentors and the Narpham community. Luke also highlights the shift towards prioritizing quality clients and finding happiness and success in business and life.
48:52
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Quick takeaways
- Shifting focus from door count to profitability per door has led to increased profitability and decreased time investment.
- Transitioning away from short-term rentals to long-term rentals has resulted in increased stability and work-life balance.
Deep dives
Focus on profitability and quality of clients
The speaker emphasizes the shift in mindset from pursuing a high number of clients to focusing on profitable and high-quality clients. By prioritizing profitability per door, the company has become more profitable and the speaker's time investment has decreased. They stress the importance of finding the right team members and utilizing technology to streamline operations.
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