Business
In episode 9 of the Profitable Powerhouse Properties Podcast, your hosts talk about building your team. When it comes to buying your properties, flipping them, or renting them you’re using a lot of energy. You need a good team around you as you buy properties and attempt to make them profitable. Learn what a property management team actually does and why they are more than worth hiring. Episode Highlights: The essential parts of buying a property and making money from it: financing, property management, sales brokerage. You should always engage the management firm and know those people before you close on a property. When you’re building a team, let it be a team - part of your team will inevitably be your tenant. You have to know what your goals are as an investor. The best way to go about finding a general contractor. A property manager can’t keep a client if they’re treating them poorly. Monthly rent can either bring in or deter renters with as little as a $50 monthly difference. Accidental landlords commonly think that a management company only collects the rent check and takes the call when something breaks. You have to be sure to get the right management team on your side because some will only do the bare minimum. What you get for full-service management is 24/7 coverage. The vendor network knows when to report suspicious activity including sub-leasing. When property owners come in and are excited to learn and get moving, then property managers are happy to help! Don’t piece your team together after you’ve already identified a property. Each home is its own individual business. Don’t show a property without power, water, or gas in it. Build a trusted team, use them for what you’ve hired them for, let them be the expert. Details about the upcoming property management summit - geared toward property managers, realtors, and brokers. Key Points: You need to know that your property management program has good, sound practices before you close on your property. Most people don’t think they can negotiate a rental price so you have to price right the first time. When someone has a professional reputation the deals start flowing over to them. Tweetable Quotes: “We’re in it for the long-haul relationship.” -Bryan “Negotiation is only possible in an area with too much supply.” -Bryan “We’re in the management business to be a partner and help make the property as profitable as possible.” -Bryan Resources Mentioned: Check out our website ahiproperties.com Check out Birmingham Insurance Group Start earning passive income with Roofstock.com Email Jonathan and Bryan at Podcast@AHIProperties.com