Feb 11, 2020
What’s your management company not telling you? They don’t care two cents about you, but they do care about their money. When you hire people and pay them well, they still never care as much as you do.
How do you get them to care? Walk slowly, carry a big stick, and smile to let them know you’re in charge. Management companies should carry out your dreams, goals, wishes, and plans.
Topics on Today’s Episode:
- Start: Management company puts its best foot forward
- Middle: Management company tends to get lazy
- Things To Do: Management companies want to raise rents and increase income
- Collected Income: How most management companies get paid
- Expenses: Do management companies truly care about what they spend?
- Motivation: Always chase the money, always follow the money
- See What You See, Expect What You Inspect: Prepare annual budgets, make surprise visits, pay attention to details, and submit work orders
- Change management company? Get the love that you deserve
- Two-part Solution: Corey to be CEO and Kim Bruggeman the asset manager
- Plan Basics: Risk/liability, prevention, product improvement, resident retention
- Lighthouse Way: Management company controls product to create culture, system, and belief to get things done the Kahuna way
Links and Resources Mentioned:
- Multifamily Legacy Episode 056: University Crossings Case Study Part 1 of 3
- Lighthouse Asset Management
- Copy Your Way to Success
- Quickstart Workshop
- Mastermind Group
- Kahuna Investments
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“They are in a fee-based business, and they care about the money. More importantly, they just really care about their money.” Corey Peterson
“No one is going to care more about your property than you.” Corey Peterson
“There’s this nasty thing called, ‘expenses.’ It could be nasty when it’s not paid attention to correctly and properly.” Corey Peterson
“Pay attention to that expense category because if you don’t, you will not be profitable. Management operations is what makes or breaks your deal.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.