I talked to a friend who went from a 9-5 engineer to a $2.5M real estate tycoon.
4 things you actually need for a smooth, cash-flowing property management biz:
4 things you actually need for a smooth, cash-flowing property management biz:
1. Software that makes your life easier
β’ And clear systems to go with it
β’ And clear systems to go with it
2. Rule of 3
β’ If it has more than 3 steps, and you do it more than 3 times, document it
β’ If it has more than 3 steps, and you do it more than 3 times, document it
3. Play the Middle
β’ β rent + β fixes = happy tenant
β’ β rent + β fixes = happy cash flow
β’ β rent + β fixes = happy tenant
β’ β rent + β fixes = happy cash flow
4. People management skills
β’ You're not managing units... you're managing tenants and vendors
β’ You're not managing units... you're managing tenants and vendors
And let's get one last thing straight...
Property management is: cash flow
Property management is not: managing properties
Property management is: cash flow
Property management is not: managing properties
Above only scratches the surface of what I learned about PM systems this week...
The rest is going out in tomorrowβs newsletter.
Join 180,000+ subscribers here:
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The rest is going out in tomorrowβs newsletter.
Join 180,000+ subscribers here:
contrarianthinking.co
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