Are you frustrated with your current property management software? Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today's guest is Mike Mengden with Terra Residential Services, a property management company. Listen as they discuss Rentvine, the new software coming out that everyone has been waiting several years for, and how Mike successfully integrated this software into his business, and much more.   Mike discusses why he changed to the Rentvine software and the three founders of the Rentvine product and how trusted they are in the industry. Mike describes the implementation of the new software, how much Rentvine helped with the process, and how great it was to have a company that didn't just sell a product but was willing to help you through the entire transition.   Mike also speaks about Rentvine's accounting program for tenants, owners and managers, and how they have integrated the NARPM Accounting Standards into the software for easy use. Listen, as Mike shares some questions that he believes you should ask Rentvine if you consider using their product.   Mike and Brad discuss Rentvine's automated systems and the type of properties that would work the best with this software. Rentvine has evolved over the years from their first trial to now and is open to suggestions for changes or additions they could add to make the software better.   In this episode: [02:46] Welcome to the show, Mike! [02:51] Mike shares his background and what he is doing now. [04:35] Mike discusses why he changed to the Rentvine software. [06:49] Brad talks about the developers of Rentvine and how trusted they are in the industry. [08:23] Mike gives some background on the three founders of this product. [11:15] Brad discusses how accommodating they were with some other products they have launched. [13:00] How did the implementation go, and what did they do to help you on the implementation side? [15:15] Part of the implementation is that you will have to have someone input the specialized information from your old software. [17:00] Mike shares what Rentvine did to help get him up and running. [19:58] Mike says that most people working with Rentvine right now are the smaller companies. [21:28] Mike speaks about getting their owner 1099 forms and the system Rentvine built to make sure it all went smoothly. [24:52] Mike talks about his experience with the accounting software and the integration with the NARPM accounting standards. [26:21] Mike talks about the tenant payment portal that Rentvine offers. [28:21] There is a two-day turnaround to receive the interest money from the tenant. [30:15] Mike talks us through the owner payment portal process and the multiple ways to pay. [33:17] Are you still doing your business accounting outside of Rentvine? [34:18] Mike shares the questions he believes people should ask Rentvine when considering changing to the new software. [37:08] Everything is automated, and you have a notification system to keep you informed. [39:09] Mike discusses the type of management companies Rentvine works with and how flexible the software is. [41:37] Brad speaks about having a total umbrella platform to run your management company from once you integrate Rentvine. [43:41] Mike talks about how much Rentvine has evolved over the last few years. [44:31] Thank you so much for being on the show!   Mike Mengden: Terra Residential Services Rentvine LinkedIn Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge   

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today's guest is Stacey Salyer, the Owner of Leading Edge Property Management out of Washington State. Listen as Brad and Stacey discuss goal setting, a review of the dumpster fire we call 2020, and what they have outlined for themselves and their companies with goal settings for 2021.   Brad and Stacey discuss some of their primary business goals for 2021, like increasing sales, creating a solid tenant purchase program, and focussing on the client experience, to name a few. Brad also talks about some discount programs his company implemented in 2020 around selling homes to tenants that are ready to buy.   Listen as they talk about personal and family goals they have for the new year and their goals for the property management sides of their businesses. Stacey speaks about hiring a new agent for her real estate company, and Brad shares a funny story about the time he was in real estate back in the day. Brad and Stacey both believe that if you are not selling homes to your tenants, you are missing out on an untapped market.   In this episode: [02:10] Welcome to the show, Stacey! [03:27] Stacey shares her background and talks about her companies. [05:33] One of Brad's goals for 2021 is to increase sales. [07:00] Brad discusses how he plans to accomplish this goal. [08:12] One of Stacey's goals for 2021 is to create a solid tenant purchase program. [10:40] If you sell to your tenants, are you poaching? [11:01] Stacey speaks about mining the gold mine: the owners and sending out more CMA's and doing Webinars on the 1031 exchange. [13:18] Brad also wants to improve on their pocket listing system. [14:22] Stacey believes they need to focus on their client experience in 2021. [17:01] Brad shares how successful his company has been with giving discounts and credit towards closing costs if the tenant used them to buy a new home. [18:48] Brad talks about why he believes goal setting is so important. [19:50] Stacey speaks about what she believes is one of the most important things in goal-setting sessions. [23:23] Bradi discusses his personal and family goals for 2021. [24:27] Stacey shares her personal and family goals for 2021. [27:25] Stacey speaks about some health issues she had in 2020. [29:24] Brad chats about his property management goals. [33:16] Stacey talks about her PM goals for 2021. [36:24] One of Brad's campaigns for 2021 is to control his tenants' access better. [38:39] Stacey wants to concentrate on the experience with clients and tenants. [40:56] Do you use tenant software when you walk them through their new home? [44:29] There is no reason for a tenant to come to your office at all. [46:57] Recruiting on the sales side is another one of Stacey's goals. [49:13] Stacey is looking for a very specific agent to add to her team. [51:54] Brad shares a fun story about his time with a real estate company. [53:43] Brad believes that you are missing out if you don't have sales in your PM company. [54:53] Thank you for being on the show! Stacey Salyer: Leading Edge Property Management Weichert Realtors LinkedIn Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today's guest is Ashley Simonelli, a property manager from Florida. Listen as they talk about landlords and property managers acting badly by conducting less than honorable business practices with their tenants, owners, and even among themselves.   Brad and Ashley discuss the shady practices around security deposits, how they are being used, and how some management companies spend them and then disappear. Brad shares the correct way to handle security deposits, and Ashley shares horror stories from her market.   They talk about what some management companies do around application fees and whether charging several application fees for the same property when you have a qualified applicant is shady. Brad shares the best practices he uses that comply with the Fair-housing act.   Listen as Brad and Ashley discuss landlords that want to do the maintenance themselves instead of allowing the property management company to take care of them. They discuss why this is a bad practice and how the property management company can become liable.   They finish the conversation with a discussion about pet deposits. Charge them, don't charge them, or call them fees, and how Brad protects his renters with a program he has at RentWerx. Brad gets fired up about bad property management practices, so this is definitely an episode you don't want to miss.   In this episode: [03:36] Ashley shares her journey to property management. [05:19] Ashley discusses how security deposits are not being held and deposited into general accounts. [06:55] Listen as Ashley shares a story about a management company that disappeared with security deposits and rents. [09:37] Brad speaks about the right way to handle security deposits and business accounts. [12:05] Ashley shares some things she has seen on the leasing side around security deposits. [14:43] Brad talks about how shady property managers operate. [16:07] Ashley discusses what apartments do when you need a few month's extension on your lease. [19:29] Ashley talks about a situation on a property she took over. [20:45] Brad speaks about some things he has seen on the leasing side of homes he has taken over. [22:33] Ashley discusses shady methods of taking applications and charging fees. [24:02] Brad speaks about the first or best application concept, which complies with the Fair-housing act. [26:37] Do you ever refund application fees? [28:30] Listen as Ashley shares what she has seen on the maintenance side. [29:37] Brad discusses landlords doing their own maintenance. [32:16] Put yourself in the vendor's shoes; vendors do not want to collect the landlords' payment.  [33:30] Ashley talks about the maintenance side with vendors that the management company couldn't vet. [35:33] A preferred vendor program is a better best practice than getting a kickback. [36:12] Brad discusses monthly pet fees that cover the renter up to $5000 in damage. [39:06] Brad shares what Rentwerx does with outgoing tenants' security deposit print out. [40:26] Thank you so much for being on the show!   Ashley Simonelli LinkedIn   Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today, Brad's guests, Todd Ortscheid and Scott Brady discuss going big or staying small, the merits of both, debating an article Scott wrote that with bullet points from Todd to flush out some key issues.   Todd shares his arguments for staying in the 200 - 500 door range with your property management company, whereas Scott believes that you need to go big and have multiple revenue streams. Scott says that if you take the DNA of a small company and overlap it into a larger company, it's a winning combination.    They both agree that you should know your why, why you want to stay small, or why you want to grow, know your purpose, and have a vision. Scott says that if you have a larger company, you have higher revenue, and it's easier to get a buyer. Todd disagrees and shares that a small company with a strong gross revenue is sometimes more desirable when selling.   Todd speaks about how automation and outsourcing are the ways to stay lean and mean and run a profitable company. Scott says that if you have a target client, compelling pricing, a great brand, and great customer service, you can grow your company and stay profitable.   There is nothing bad about making money just to be making money, and Scott believes you should monetize everyone you meet. The purpose of profitability is to provide a great service, and Todd has a fee program Brad recommends. There are two sides to each coin, but basically, if you know what you want and know how to get there, it doesn't matter your management company's size. You can make it profitable.   In this episode: [01:40] Welcome to the show! [02:36] Todd shares a little about himself. [02:53] Scott introduces himself and what he does. [03:48] Todd discusses his argument points for staying in the 200 - 500 doors range. [04:23] Scott defines his argument points for going bigger for multiple income streams. [05:34] Brad shares his insights into this debate from where his business stands. [06:28] Scott believes you should take a small company's DNA and overlap that into a larger company. [08:06] Todd says you need to know why you are doing what you are doing, find your purpose. [10:33] Scott agrees with Todd that you have to know your why, but he disagrees that the number of doors you manage is about ego. [12:05] Scott believes that people look at your gross revenue when you sell your business, so bigger companies have bigger revenues. [14:17] Todd talks about the exit strategy idea, and he doesn't believe that you have to be bigger to have a strong gross revenue. [17:27] Todd shares his techniques for staying lean and becoming profitable. [18:28] Todd believes that automation and outsourcing are the keys to running a highly profitable company. [20:56] Scott discusses staff and how owners get attached to their property managers, so if you are growing, you have a better chance of keeping your staff. [23:16] Brad shares that he is always thinking of the how. [24:26] Scott talks about having a target client, compelling pricing, a great brand, and great customer service, which is how he believes he is growing. [27:41] Todd discusses how to get lean and mean and get your business to where you really want it. [28:57] Start by mapping out your processes and procedures so you can get your VA's doing your work and automate. [30:31] Scott talks about monetizing everyone he meets, not just the owners. [32:40] Todd says there is nothing bad about making money just to be making money. [33:15] The purpose of profitability is to provide a great service. [35:25] Todd has a fee program that Brad recommends you look at. [36:05] Brad speaks about PMMCON in May 2021. [37:24] Todd discusses capital allocation and defines how to do it. [39:58] The average profitability of a property management company is 6%. [41:19] Scott shares his insight into allocating capital; he says his best investment is his company. [43:56] What percentage of property management companies live month to month? [47:25] Thank you for being on the show!   Todd Ortscheid LinkedIn PM Assist Scott Brady LinkedIn   Property Management Mastermind Conference   Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Welcome to the Property Management Mastermind Show with your host, Brad Larsen. Today, Brad's guests Kellie Tollifson and Chrissy Wade, are discussing the NARPM Women's Leadership Council. NARPM's upcoming event is November 12th; this council focuses on developing leadership qualities in women. They want to help them become better businesswomen, speakers, and leaders in their communities and the real estate and property management industries.      Kellie is the National Association for Residential Property Managers (NARPM) 2020 President, who has been involved with NARPM since 2005 and has worked her way up through the ranks. Chrissy owns a property management company in Southern California, growing quickly and has been involved with NARPM for three years.    Listen as Kellie discusses the keynote speaker for Elevate Your Game, Dr. Michelle Mazur, and what she will talk about. Chrissy speaks about the panel, what questions will be asked, and Chrissy shares where she hopes the Women's Leadership Council will go in the future.   If you would like to learn how to be a speaker or just gain confidence as a leader, this is the event you don't want to miss. For more information, go to the Women's Leadership Council. What have you got to lose?   In this episode: [02:25] Welcome to the show, Kellie and Chrissy! [02:34] Kellie shares her background and her involvement with NARPM. [03:35] Chrissy speaks about her background and when she became a member of NARPM. [04:33] Brad shares what NARPM stands for and how beneficial it is for property managers. [06:30] Chrissy discusses the plans that are in place for the Women's Leadership Council and how it began. [08:40] Kellie speaks about how she was involved in forming the committee and what she believes women will receive. [11:47] Chrissy discusses the first event the council has planned: a virtual event called Elevate Your Game, which will focus on becoming a speaker. [14:42] Kellie shares what the keynote speaker Dr. Michelle Mazur will discuss. [16:44] Chrissy, when people reached out to you with questions, what was the number one thing they wanted to know? [19:33] Kellie discusses what she believes the panel will be asked at this first event. [21:37] Chrissy shares where she sees the council going in the future. [23:13] Kellie hopes that over time they will have the budget to get experts in the industry to help broaden women's challenges in the workforce. [25:01] Chrissy believes that everyone needs to learn to be better at communication. [26:07] Kellie discusses the enthusiasm she is seeing from men about this council. [27:45] Thank you for listening to the show!   NARPM  NARPM Women’s Leadership Council Event November 12, 2020   Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Welcome to this episode of the Property Management Mastermind Show with your host, Brad Larsen. Today, Brad's guests are Heather and Michael Park from Rent Bridge, a property management company in the Dallas area. Listen as they discuss process automation, all the cool stuff they have going on at Rent Bridge, some industry trends, and much more.   Michael discusses the automation system he designed for his own company that has become the Rent Bridge model. Heather shares the top products they offer property management companies, and Michael speaks about how their renewal system, their process for renewals, and the options that the tenants have.   Heather talks about the cost of the automation system and how it depends on the size of the company and how much automation they require. She also shares the return on investment and the time frame involved with changing your system to full automation.   Listen, as Heather and Micheal speak about the marketing side of Rent Bridge and the new DIY option, they are rolling out for companies that cannot afford the full version. They also discuss the new systems and products they are offering soon and what the first steps are to learn more about automation.    In this episode: [02:05] Welcome to the show, Heather and Michael Park! [03:00] Heather shares about Rent Bridge and what they do. [05:18] Michael speaks about his background and why he got into property management. [08:10] Michael discusses automation and the system he built that ended up being the model for their own management company. [09:26] They believe they don't sell property management services; we sell communication. [11:53] Heather speaks about the top products they offer property management companies. [14:16] Michael does a deep dive into their renewal system. [17:00] Brad discusses rate increases and how automation can keep the increase incremental. [21:07] Michael shares how automated renewal integrates other systems and their process for renewals. [22:27] Brad talks about what can happen when you renew without owners' approval. [24:27] With automation, you have consistent communication with the property owners. [25:02] Michael speaks about how the automated renewal system works and the options the tenants have. [28:49] Brad discusses how consistency fits into the fair housing model. [29:43] Heather speaks to the cost of process automation. [31:33] She discusses what a typical client will pay, but it all depends on how big the business and how much automation they want. [33:17] Heather talks about what the return on investment is. [35:03] What is the time frame for setting up an automated system? [38:44] Michael talks about the most logical and fastest way to onboard the automation system. [39:57] Heather speaks about the marketing automation piece they are rolling out and a DIY version for people who can't afford the full version. [42:05] Michael shares more things they are rolling out soon. [44:51] Heather and Michael discuss the next steps if you are interested in more information. [45:33] Thank you both for being on the show!   Find Heather and Michael: Rent Bridge Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Have you ever wanted to do something different, take a chance, and change careers? Listen as Brad and his guest Tra Griffin of GKHouses discuss how Tra started property management as a second or third career. He came in as a COO from a different industry and helped GKHouses build their business on this episode of the Property Management Mastermind Show.   Tra talks about what he does for GKHouses, his background in the Marines and fitness, and how he got into the property management industry. Tra speaks about the differences and similarities between the fitness industry and the property management industry and how beneficial Culture Index can be to make sure you hire the best people.   Listen, as Tra discusses the operation challenges he faces when they take over different markets, how to hire strategically for tuck-in markets, and some challenges they had on the last acquisition GK did. Tra also talks about the in-house training that GK does for their internal employees to develop people to be better at their jobs and better people overall.   Brad and Tra share why they believe that the property management industry has been insulated during the pandemic, and where they see the industry going as they move forward post COVID. Tra has pivoted his career many times and always seems to come out on top, listen, and see if changing careers can benefit you.   In this episode: [02:43] Tra shares a little about his background and knowledge of the industry. [04:08] He speaks about what he does for GKHouses. [05:18] Tra came out of the Marines and went into the fitness industry. [06:46] Tra shares some big differences and similarities between the fitness industry and the property management industry. [08:47] Tra discusses the Culture Index and how beneficial it can be in any industry. [11:55] He speaks about the operational challenges that the COO sees when taking over different markets. [14:14] Tra discusses the tuck-in markets and being strategic when hiring. [15:33] What challenges did you face on the last acquisition GK had? [19:14] Tra says that he wants to figure out a way to bring on people with no property management experience to train them. [20:32] GK has created new in-house training to develop people to be better at their job and better humans. [21:53] What do you see in the property management industry as opportunities right now and in the future? [23:55] Tra speaks about the recurring revenue model and how it makes it possible to provide a great service for the owners. [27:37] Tra says that he is obsessed with creating a scalable process. [31:00] Tra speaks about having a leader that knows the market is essential. [33:42] Brad shares a story about WWII that parallels his point. [36:30] Brad discusses how deals are done in the property management industry. [37:37] Thank you for being on the show, Tra!   Find Tra: GKHouses   Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Today, Brad's guest on the Property Management Mastermind Show is Tim Liversage, the co-owner of Stray Cat Digital, a digital marketing company. Listen as they discuss website accessibility issues and compliance issues which are the buzz topics right now. Brad feels it's very important for the property management managers to understand this, to make sure they are being implemented into their marketing and websites because the vultures are circling.   Brad and Tim discuss how attorneys are finding non-compliant websites and slapping a demand letter on you for thousands of dollars. Tim speaks about an audit program he has developed that will audit your website and tell you what needs to be updated and give you a starting point to get compliant.   Listen as Tim gives examples of large companies and celebrities that have been sued because their websites were not compliant. Tim shares that the people affected by these non-compliant websites are the blind or people who can't hold a mouse, just to name a few of the disabilities that are hindered by these websites.   Did you know that 90% of web browsing is now done on cell phones? Tim shares some statistics and gives a range of where pricing can start depending on what you need to do on your website to bring your compliance current. The bottom line is, check your website and make sure it is compliant before the vulture attorneys come after you for non-compliance.   In this episode: [02:37] Tim shares a little of his background. [03:47] Brad explains how these attorneys are trying to find a non-compliant website and slap you with a demand letter to get a quick settlement. [06:33] Tim discusses an audit program that he has developed to give you a checklist of your issues. [08:39] Tim speaks about the fair housing act, which is part of the ADA. [10:59] Tim talks about the accessibility statement that everyone needs to have to show on their website. [12:23] Tim shares an example of what these lawsuits look like and who has been sued. [15:20] People who don't have a legal team usually get these letters. [17:05] Tim speaks about who is affected by these websites that are not compliant. [21:39] What are some benefits and features of keeping your website updated and compliant. [24:52] Tim talks about recording video with subtitles and not using voice. [25:41] 90% of web browsing is now done on a mobile phone. [27:17] Tim gives a range of what it will cost to fix a website and make it compliant. [29:33] Word press is the only platform you can use that has the budget and accessibility to fix or redo your website. [31:41] The bottom line is that you need to make sure your website is compliant as quickly as possible. [32:51] Tim shares some final thoughts. [34:06] Thank you so much for being on the show!   Find Tim: Tim Liversage Twitter | Facebook | Instagram | LinkedIn   Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge 

Brad's guests today are four of the best minds in the industry, and they are discussing the small group roundtable that they have put together. These are the four initial facilitators that we brought in to work with the small groups. Visit www.managersroundtable.com to find the introductory pricing. The service is basically a crowdsource type of compilation on education, with eight in each small group. These groups will meet twice a month for six months, the sessions are structured and laid out by the facilitators, and they will all be recorded so that if you miss one, you will be able to catch up.  The four facilitators are Deb Newell, Paul Kankowski, Sarah Durbin, and Scott Brady. Listen as these four share what to expect at the small group roundtables, what they are each bringing, and the benefit they feel you will receive, making the cost insignificant. These roundtables will be small virtual intimate gatherings that will allow you to get inside knowledge from some of the best in the industry. You can't get this one-on-one education at a conference; you are getting it from your home. Sign up now while they are still offering the introductory pricing, and learning from this brain-trust, it will be like nothing you have ever been a part of.   In this episode: [01:54] Welcome to the show! [03:12] Brad introduces the four facilitators.  [04:08] Deb Newell shares her background and some of what you will experience at the group roundtable. [06:36] Paul Kankowski shares about his accountability groups what he will bring to the roundtable.  [09:40] Brad speaks about each meeting's structured nature that allows people to prepare before getting into the meeting. [10:18] Paul discusses his list for what he has planned for the roundtable groups. [11:30] Sarah Durbin shares her background and what she is excited to bring to the small group roundtables. [12:25] Sarah speaks about the small groups she has been in over the years. [13:43] Scott Brady gives an introduction and shares what he thinks the small group scenario will feel like. [15:34] Brad discusses why they are charging for the roundtable and where the money is going. [18:23] Deb shares the value she sees in this as a whole. [19:59] Scott will bring his SWOT exercise to the roundtable groups. [22:52] They all share some final thoughts for the listeners. [23:52] Thank you all for being on the show! Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizens Home Solutions Rent Bridge  Managers Roundtable Deb Newell Facebook | Twitter  Paul Kankowski Facebook Sarah Durbin Facebook | Twitter Scott Brady Facebook

Brad's guest today is Rod Khleif. Rod is a multi-family real estate investor, business consultant, and high-performance coach. Listen as they discuss the multi-family success mindset and some outstanding stuff on this episode of The Property Management Mastermind Show. Listen, as Rod shares how he lost 50 million dollars and recouped it. Rod explains that he had single-family homes and multi-family homes in 2008 when the stock market crashed. His multi-family properties flourished while his single-family homes took him to the cleaners. Rod shares the goal-setting process that brought him back financially. Rod discusses what he focuses on when he starts a business, the difference between purchasing single-family homes versus multi-family homes, and how the value of a multi-family property is determined. Rod also talks about the management and tenant side of the business and what he believes will happen to property owners next year. Rod speaks about his podcast called Lifetime Cash Flow and what is happening in the commercial, private, and retail sectors during this COVID-19 crisis. Next year Rod believes the market will open up, so have your money ready if you want to invest in multi-family properties.  Rod has been in the business for many years and lost more money than most of us will ever see. His insights into multi-family properties are unique and something you don't want to miss, so sit back, relax, and get ready to be motivated.   In this episode: [02:09] Welcome to the show, Rod! [02:12] Listen as Rod shares his background, and how his business is doing today. [04:47] Rod speaks about losing 50 million dollars in 2008. [07:27] Why should you buy multi-family properties? [09:51] In 2008, Rod's houses brought him down, but his multi-family properties flourished. [11:38] Rod shares the steps to his goal-setting process. [13:46] Rod speaks about the books he has written. [16:35] Listen as Rod shares the last two steps to his goal-setting process. [19:18] Rod shares some examples of how he pictured his goals and made them come true. [23:01] When starting a business, what do you focus on? [25:39] Rod shares the things he looks for when he starts businesses. [27:31] Rod discusses the differences between purchasing single-family homes and multi-family. [29:25] The value in a multi-family property is based on a multiple of the net income. [33:48] Rod speaks about the management and tenant's side of the business. [36:36] Rod shares what he thinks will happen with property owners during this crisis. [39:36] Rod discusses the commercial, private and retail sectors and how they are doing right now. [42:04] Rod talks about his podcast called Lifetime Cash Flow. [43:42] Thank you so much for being on the show! Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Second Nature NARPM Southern States Conference National Apartment Association NARPM Accounting Standards EZ Repair Hotline SureVestor Tenant Turner Citizen Home Solutions Rent Bridge    Find Rod Rod Khleif Bootcamp use code ‘friend of Rod’ to get in for $97 Lifetime Cash Flow podcast @rodkhleif Instagram | Twitter | Facebook | YouTube