Peter Lohmann's Podcast

Episode 9 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro (01:49) John's origin story (05:21) How John thinks about KPIs for his business (07:43) John reviews his weekly KPI sheet (10:10) How did John learn about KPIs? (12:50) Discussion about SGI & trade groups (16:42) What does it mean to adopt a business system? (20:03) Value of annual & quarterly off-site meetings (22:57) What hurdle should you give to a general manager? (26:15) The value of property management as SMB launchpad (27:42) Tips on growing a small service business (29:58) Selecting CEO/Owner compensation (34:55) John's opinion on other service businesses (37:01) Peter discusses adding trades businesses to PM (40:38) John explains what he likes & dislikes about service businesses (45:32) Scaling home service businesses (50:08) Training general managers & operators --- Follow John on Twitter: https://twitter.com/WilsonCompanies Visit The Wilson Companies website: https://www.thewilsoncomp.com/ Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com

Episode 8 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro (01:40) Asset management vs property management (PM) (07:09) How clients typically evaluate property managers (07:48) Institutional owners separate asset mgmt and PM (08:47) Sub-intuitional owners combine asset mgmt and PM (10:39) Owners expecting too much of property managers (14:14) Peter's effort to standardize property management (16:07) Going to a car mechanic (18:42) Buying shoes - the power of standardization (21:33) Why PM companies resist standardization (23:02) What are the advantages of standardizing PM? (27:14) GAAP for property management scope of service (28:37) Property Management Standards Working Group (31:24) What about a standard PMA? (32:56) Peter's new mission for RL Property Management (33:54) Property managers are not trusted by the public --- Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com

Episode 7 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro  (02:23) Screening tenants is tricky business  (05:38) Housing discrimination / fair housing  (07:22) Housing voucher program (section 8) (09:50) Section 8 inspections & issues (12:13) Source of income (SOI) discrimination protection laws (15:44) Disparate impact discussion (19:54) Tenant screening best practices to stay compliant (22:08) Renter's choice legislation (25:39) The law of unintended consequences in housing regulations (30:22) Revenue-per-door (unit economics) KPI discussion (33:31) Direct Labor Efficiency Ratio (DLER) KPI discussion (38:16) Small service business profitability --- Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com

Episode 6 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro. KPI = Key Performance Indicator (02:34) KPIs & how we use them in our business (04:54) How to improve growth using KPIs (08:03) Property management top 5 KPIs / L10 scorecard (12:12) Creating a culture of accountability to the KPIs (14:40) How to benchmark your KPIs & select targets (20:37) Departmental KPIs (25:13) Closing ratio & hiring a salesperson (BDM) (28:57) Property management has no accounts receivable (30:22) Net Promoter Score (NPS) (32:39) EOS Implementers & cost --- Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com

Episode 5 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: -A property management acquisition deal that fell through for Peter -Russell has 2 potential deals, he talks about the risk with each one -What multiple should you pay for a small business? What are the various considerations that go into a multiple -Why did Peter lose his property management acquisition deal? What happened, why, could the outcome have been different? -The risks of buying a small business  (00:00) Intro (02:17) Background of the property management acquisition deal (04:10) Why I think we lost the deal (06:18) Discussion of multiples to pay for SMB (09:52) What would it mean for my business to manage 1000 doors (14:12) If I had paid top dollar, would I have made money? (16:30) Tips for buying a bolt-on business (18:25) The psychology of doing a deal is intoxicating (20:24) Clawback provisions in purchase agreements (21:51) The seller must be motivated for a deal to work (26:27) How banks evaluate distressed businesses (27:52) What do I look at during due diligence (32:43) What about the seller's employees (35:55) The value of documenting key processes (37:40) Buying a small engineering company --- Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com

In this episode, Peter Lohmann and Russell Lowery discuss early mistakes in property management, such as slow sales processes, not adding value, and not focusing on high-impact moves. They stress the importance of systematizing sales, recognizing the value of time, leveraging trade groups, and identifying ideal customers for growth.

Episode 3 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery. Show Notes: (00:00) Welcome & intro (00:52) History of zillow & rental listings (03:46) Zillow's rental manager platform (05:50) Is Zillow competing with property managers? (07:20) How airbnb could enter the rental market (13:01) 3 revenue streams for property managers (16:05) How PM companies can defend (20:11) How landlords can defend against airbnb & zillow (22:29) Zillow's rent zestimate Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com

Episode 2 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery. In this episode, we discuss: (01:44) Self-managing rental properties and how to build up the right systems and processes. (02:53) Finding and working with property managers. (04:04) Starting a property management business and the challenges faced during the early stages. (07:10) Strategies for finding new properties to manage, including attending realtor meetings, developing a website, and advertising on Google. (10:05) Switching from an engineering career to property management and finding the motivation to run the business successfully. (16:30) The process of acquiring property management businesses. (18:29) Different financing options, for example drawing on a credit line and getting an SBA loan. (19:59) What bankers look for before disbursing a loan and the importance of proper accounting and book-keeping. (22:11) Learning to do a cash-flow analysis and writing business plans. (23:28) The value of consulting a fractional CFO to grow your business. (25:02) Two book recommendations that give a basic understanding of accounting and why it is recommended to have a fractional CFO. (30:25) The lessons learned through property management. (31:27) The value of constant learning and consulting experts in business. (33:26) Why real estate is the best place to build your net worth but not the ideal place to begin your career. -The two books about accounting that Peter recommends for every business owner: https://www.amazon.com/Accounting-Dummies-Business-Personal-Finance/dp/1119245486/ and https://www.amazon.com/Simple-Numbers-Straight-Talk-Profits/dp/1608320561/ ~~~ -Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 -Learn more about Peter & how to connect with him here: peterlohmann.com -RL Property Management manages Columbus area rental properties: rlpmg.com

Episode 1 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery. We introduce ourselves and discuss starting businesses, property management, and buying a small business. Peter explains how he started RL Property Management and how he found customers in the beginning. He also explains how to buy another property management company. Russell talks about using SBA loans to buy businesses, and his background. Russell Lowery is a political puzzle solver. He runs a California based public affairs company highviewstrat.com. You can also connect with him on Twitter: twitter.com/russelllowery10 Learn more about Peter & how to connect with him here: peterlohmann.com RL Property Management manages Columbus area rental properties: rlpmg.com