The Landlord Profitability Playbook Podcast By cover art

The Landlord Profitability Playbook Podcast

By: Chris McAllister
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  • Summary

  • Investing in real estate is an incredible way to build wealth. Managing real estate is another matter altogether. If your real estate investments are taking too much of your time and attention, this podcast will not only free you up – it will put more money in your pocket too.
    © 2024 The Landlord Profitability Playbook Podcast
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Episodes
  • Ep009: List and COMMUNICATE Your Minimum Expectations and Non-Negotiables – Part 2 of What To Expect From Your Property Manager

    Ep009: List and COMMUNICATE Your Minimum Expectations and Non-Negotiables – Part 2 of What To Expect From Your Property Manager
    May 21 2024
    This is the 2nd of our 12-part series called What To Expect From Your Property Manager. Whether you are your property manager, you are already in a property management relationship, or you are thinking about hiring a property manager, this series help you set expectations for performance that can only positively impact your profitability over time. In this episode Chris, Laci, and Gretchen discuss being able to list and communicate your minimum expectations and non-negotiables for your property manager. We are going to talk about motivation – yours and your property manager’s, communication and accessibility expectations, alignment and systems, fiduciary responsibilities, compatibility and performance, and doing your due diligence. I guarantee you will find tips tricks habit and mindsets you can you to make your real estate investments work for you – and not the other way around. SHOW HIGHLIGHTS Chris McAllister opens the discussion on the significance of establishing clear expectations and non-negotiables in property management relationships.Lacey LeBlanc and Gretchen Mitchell talk about understanding what real estate investors seek from a property management partnership for a successful collaboration.We reminisce about Roost Real Estate Company's growth from managing personal properties to serving a diverse client base and fostering strong relationships with clients.The ethos of Roost Real Estate Company is discussed, highlighting the commitment to providing homes for all individuals, whether they rent or own.The importance of system alignment and defined team roles within property management organizations to ensure efficiency and owner satisfaction is examined.We touch on the intricacies of managing different property types, including high-end rentals and those that accept Section 8 tenants in the post-COVID landscape.Key considerations for choosing a property manager are discussed, such as their legal awareness, broker involvement, and commitment to the owner's success.We explore the internal program "Have I Earned a Five-Star Review Today?" aimed at maintaining exceptional customer service and its impact on managing property managers.Chris and Gretchen delve into the practicalities of managing property managers, including monitoring online reviews and the importance of direct communication with property owners regarding rental income flow.Transcript samples from key chapters provide insight into the conversation, including the significance of a property manager's understanding of their fiduciary and agency duties, and the necessity of broker involvement for successful management. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Chris: Chris McAllister, here with the Landlord Profitability Playbook podcast, where it's my job to create and coach business opportunities and strategies that support and add value to the lives of real estate investors. I am not only joined today by my good friend and podcast partner, Laci LeBlanc, but also by our Director of Property Management at Roost Real Estate Company, Gretchen Mitchell. So good morning, ladies. Laci: Good morning. Good morning. Chris: How are you? Gretchen: Pretty good. Chris: Just another day in paradise. I'm not in Ohio, so not as good as you guys, I think North Carolina is a fine place to be hanging out today. So what I want to talk about today is a continuation of our first episode, which was about getting clear on what you want in a property management relationship and kind of that big picture, why. And today I really want to challenge our listeners to drill deep into the tactical detail, the day-to-day stuff you cannot and will not bend on, and I think that's important because obviously, if you hire a property manager, it's money out of your pocket. You know and again we absolutely believe it's with the right person it's an investment, it's not a cost, but still it's a cash outlay and nobody wants to, you know, lay out cash. So the question is what are you going to get for that cash and what are the things that you're just not going to take note for an answer on? So really it's about getting clear on your non-negotiables that make sense. Gretchen: Yep. Chris: And I think it's the kind of thing that you know if you can't get clear on this for yourself, if you can't detail your expectations for yourself, there's just no way you're going to be able to communicate them to anybody else. So it comes down to what do you want? What's important to you? Talked about on previous podcasts, but a question ...
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    43 mins
  • Ep008: What To Expect From Your Property Manager Part 1 Get Clear On What You Want From This Relationship

    Ep008: What To Expect From Your Property Manager Part 1 Get Clear On What You Want From This Relationship
    Apr 16 2024
    This is the first of our 12-part series called What To Expect From Your Property Manager. Whether you are your property manager, you are already in a property management relationship, or you are thinking about hiring a property manager, this series help you set expectations for performance that can only positively impact your profitability over time. Chris and Laci kick off this series with a discussion about getting clear in your mind about what you want in a property management relationship. Specifically, we cover the many hats a property manager wears in the course of a month, being able to articulate your reasons for investing in real estate in the first place, managing property remotely, the value of your time as a scarce resource, and the hidden and not so hidden costs of going it alone. As an extra bonus we are going to be joined for this series by Gretchen Mitchell, Director of Property Management for ROOST Real Estate Co. I guarantee you will find tips tricks habit and mindsets you can you to make your real estate investments work for you – and not the other way around. SHOW HIGHLIGHTS We kick off our "What to Expect from Your Property Manager" series, highlighting the importance of defining your expectations for a property management relationship to positively impact your profitability.Laci LeBlanc and Gretchen Mitchell join the conversation, emphasizing the value of time as a scarce resource and the significance of setting performance expectations for property management.The recent legislative victory with the Springfield Ohio Landlord Registration and Licensing Ordinance is celebrated, noting the removal of the self-inspection requirement as a benefit for property owners and tenants.We delve into the concept of becoming an accidental landlord, sharing my personal story of turning a bank-owned property into a profitable rental and the strategic benefits of making extra mortgage payments.The discussion touches on the necessity of treating real estate investment as a legitimate business and learning from past mistakes to ensure success and compliance with fair housing laws.We explore the emotional toll and time commitment of real estate investment, particularly for accidental landlords who depend heavily on rental income, and seasoned landlords with a financial buffer.Anecdotes are shared to illustrate the challenges property managers face, such as unexpected maintenance and tenant turnover, underscoring the importance of proactive management.We stress the financial and stress-related advantages of hiring a property manager to mitigate the unforeseen complexities and protect against the unpredictables of the real estate world.In discussing property management partnerships, we reflect on the importance of readiness and finding the right fit for a long-term, collaborative relationship with a property manager.We conclude by affirming that a property management partnership is about more than offloading responsibilities; it's about creating a path to real estate success and achieving financial goals. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Intro Welcome to the Landlord Profitability Playbook Podcast, where we share the best practices we use to help our residential real estate investor clients automate their rent collection and get on with their lives. Check out the show notes at wwwlandlordprofitabilityplaybookpodcastcom. This show is brought to you by Roost Real Estate Co Property Management. To learn more about our company and the services we provide, visit wwwmanagewithroostcom. Now here's your host, chris McAllister. Chris: Hello Chris McAllister, here with the Landlord Profitability Playbook Podcast, where it's my job to create and coach business opportunities and strategies that support and add value to the lives of residential real estate investors. I am not only joined today by my good friend and podcast partner, Laci LeBlanc Good morning Laci Good morning Chris but also by our Director of Property Management at Roost Real Estate Company, Gretchen Mitchell. Hello, Gretchen Mitchell. Gretchen: Hello. Chris: This is our first in a 12-part series called what to Expect from your Property Manager. So, whether you are your own property manager or you are already in a property management relationship, or you're thinking about hiring a property manager, this series will help you set expectations for performance that can only positively impact your profitability over time. So we're going to kick this off with the discussion about getting clear in ...
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    41 mins
  • Ep007: Expand Your Empire With Rachael Schwalenberg

    Ep007: Expand Your Empire With Rachael Schwalenberg
    Feb 12 2024
    I’d like to introduce Rachael Schwalenberg to the Landlord Profitability Playbook Podcast. Last summer I was listening to the Evernest Real Estate Investor podcast while on the bike path and the guest that day was Rachael Schwalenberg of Columbus, Ohio. Now I listen to a lot of podcasts and I am not easily impressed but Rachael was amazing. She clearly knew the Columbus market inside and out. It was not a ‘rah-rah’ perspective either. It was nuanced, thoughtful, and in my opinion absolutely accurate. As soon as I got home I got on the Google machine and tracked her down, sent her an email, and we have been friends and referral partners ever since. Rachael’s years of experience in the Columbus market as a Realtor, property manager, broker owner, entrepreneur, and investor make her an invaluable resource to our listeners on The Landlord Profitability Playbook podcast as well as our listeners on our sister podcast Connect Practice Track & Grow for real estate professionals. When it's time to expand your empire, Rachael is the professional you want to work with. SHOW HIGHLIGHTS Rachel shares her journey from property management to becoming a broker-owner, emphasizing her focus on working with investors to optimize their investments.We explore the importance of maintaining a manageable business size, which Rachel believes is crucial for staying accessible to clients and building long-term trust.Rachel discusses the significance of leveraging tools and spreadsheets for making profitable investment decisions, rather than doing the calculations manually.We address the challenges that agents who entered the market in 2021 and 2022 faced when the market shifted, emphasizing the need for genuine commitment to succeed in real estate.Rachel underscores the necessity of having supportive brokerage and proper training to grow and sustain a successful real estate practice. Rachel and I talk about the importance of building strong client relationships and being selective with the clients you work with, particularly in property management.We delve into the strategies for expanding client portfolios in the Columbus market and discuss the long-term investment opportunities arising post-pandemic.Rachel predicts a more stable real estate market in 2024 and discusses the impact of infrastructural developments, such as Intel's move to Columbus, on investment potential.We highlight the value of networking and referral partnerships for building a real estate business, sharing insights into their successful collaboration.Rachel conveys her approach to business growth, focusing on scaling her clients' portfolios and potentially growing Roost Real Estate with more agents and investors. LINKS Show Notes Be a guest on the Landlord Profitability Playbook Podcast Download your FREE copy of The Landlord Profitability Playbook and learn how to automate your property management. Visit ROOST Property Management and find out more about the ways we can help you create a more profitable portfolio. Visit Rental Property Registration to access the registration page and self-inspection form. TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Chris: Hi all Chris McAllister here with the Connect Practice Track Grow podcast and today the Landlord Profitability Playbook podcast, where it's my job to make your business better and your life easier. I'd like to introduce Rachel Schwallenberg to the dual podcast today. Last summer I was listening to the Evernest Real Estate Investor podcast while I was on the bike path and the guest that day was Rachel of Columbus, ohio. Now I listened to a ton of podcasts and I am not easily impressed, but I have to tell you Rachel was absolutely amazing. She clearly knew the Columbus market inside and out and what I liked about it. It wasn't a rah-rah perspective either. It was nuanced, it was thoughtful and, in my opinion, absolutely accurate. So as soon as I got home I got on the Google machine and tracked her down and sent her an email and since then we've become friends and referral partners. So Rachel's years of experience in the Columbus market as a realtor, a property manager, a broker owner, entrepreneur, investor, you name it it just makes her an invaluable resource to our listeners on both podcasts. So I guarantee that you're going to find some inspiration, some lessons, some actionable tips, habits and mindsets you can use in your business to generate more leads, book more appointments, write more contracts, close more deals. Well, you know the drill. So, without further ado, I bring you my interview with Rachel Schwallenberg. Rachel: Good morning. Good morning. Chris: I'm OK. Rachel: Nice to talk to you this morning. Chris: Same to you. So you've done so much and you've been so active in the Columbus market and you've helped so many people. If it's OK, why don't you just tell us all about yourself and how you got started and all that good stuff? ...
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    30 mins
Economics Personal Finance
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