Peter Lohmann's Podcast

Episode 13 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro (02:30) When should you hire someone vs using software & automation? (08:41) Onboarding new clients can be very disruptive (09:47) Project-based businesses vs ongoing/reactive businesses (11:20) RL Property Management is hiring for director of maintenance (15:30) What am I looking for in candidates for this position? (23:07) Putting myself in the mindset of an employee (26:39) Russell's preferred interview style (31:57) How do you set pay range for a position (36:17) You can always find someone cheaper, but... (39:56) How to determine employee loading --- 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 12 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro (01:54) Peter bought a flex office/warehouse for his company (06:57) Uses for & desirability of warehouse space (12:54) Revenue opportunities for property management companies (16:10) When is the right time to explore new business opportunities? (18:40) Domain-specific knowledge vs generalized business knowledge (21:39) Owned and Operated podcast - hiring & training operators (23:00) Russell's experience bringing on a high performer (25:18) Peter is hiring for a high-level position Owned and Operated Podcast: https://podcasts.apple.com/us/podcast/owned-and-operated/id1560999545 --- 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 11 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss:  (00:00) Intro (02:46) Twitter, how we started with it & how we use it today (09:55) Setting notifications as a way to learn about a subject (13:43) Adding value to other people's tweets (15:28) Lead gen using twitter - finding prospects (19:37) Solving problems for Amazon millionaires (21:49) How to find a platform to go all-in on (25:22) How Peter uses Facebook & Facebook groups (31:01) How to be successful with LinkedIn (32:57) Overview of the platforms & using them together (35:01) How to tune Twitter & LinkedIn algorithms to your advantage (38:44) The value of commenting on other people's posts (39:37) The world wants more of you - feel the "pull" (41:03) Why Peter streams Rocket League on Twitch! Peter's Twitch: https://www.twitch.tv/propertymanagementgamer --- 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 10 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery.  In this episode we discuss: (00:00) Intro (01:26) The importance of hiring (06:26) Two book recommendations (08:04) Finding a business framework that works for you (11:49) Russell's strategy at his new printing company (12:36) The Ivy Lee method for selecting todo items (15:45) Selecting operational todo items vs sales todos (19:36) Gaining leverage to work on your business (27:04) Procrastination is a signal you shouldn't do it (29:25) Russell disagrees with Peter (maybe) (31:18) How to do transformative work by not working (36:35) Guilt is the mind-killer (41:05) Powerful weekly planning for business owners (45:47) How does the environment affect your mindset? (50:30) How Peter approaches email & communication overload Book Recommendations: Traction by Gino Wickman The E-Myth by Michael Gerber Peter's Blog Post: https://pslohmann.medium.com/how-to-work-on-your-business-eec6ad291e03 --- 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 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.