Property Management Growth with DoorGrow DGS 60: Real Estate Investing as a Property Manager
Nobody knows the rental market better than a property manager, and nobody better than a property manager who does real estate knows how to help real estate investors.
Today, I am talking with Sam Kwak about real estate investing as a property manager. Sam’s philosophy is: I don’t manage anything that I don’t own. He prefers to buy properties and manage them or at least understand how the business works.
You'll Learn...[03:35] People who don’t necessarily have anything in terms of wealth can become real estate investors, buy properties, and rent them to create income. [05:25] As a partner, Sam is part of the everyday operation of property management; he’s in the office, sees what’s going on, and does consulting and advising. [05:58] Property managers need to understand their numbers, cash flow aspects, possible expenses, macroeconomics, microeconomics, and the market. [06:35] Property managers have a better understanding of where to invest; if they understand the market, they know what to buy to have a healthy cash flowing asset. [08:09] Education is key; Sam helps new or beginner investors learn a skill set focused on acquisition, negotiation, and understanding business expenses. [08:45] Acquire properties without using your own capital and credit; learn to acquire properties using the concept of owner financing and raising capital for owner financing. [11:35] Different states and municipalities have different rules; find an attorney who understands the creative side of investing and how to work with an installment contract. [14:15] If you understand how to legally, ethically, and morally put together deals, capital finds its way to you; money will come, if you provide value and want to help people. [15:10] Not all partners are made equally; work with a partner who is of sound mind, values what you do, and has the character to backup their integrity and honesty. [18:55] Once successful, don’t be blinded by confidence and think you’re invincible; adapt a coachability mindset and become a student again. [24:10] Some say real estate investing is quick, easy, turnkey money - that pipe dream is oversold and over promised
TweetablesAnyone can be an investor, buy properties, and rent them to create income.
I’m in property management because I know what goes in it, what goes out.
Money will come, as long as you’re providing value.
ResourcesRich Dad Poor Dad by Robert Kiyosaki
Mike Michalowicz on the DoorGrowShow
DoorGrowClub Facebook Group