Strategic Partnerships-Your Property Manager

I'm big on strategic partnerships!

I veiw each of my employees as a strategic partner because their care and attention to details in my business free me up to work on the things that Create Wealth and the things I enjoy more.

There are many Real Estate investors who get this.  Most investors from the past that got burnt out got that why from managing tenants and property.  Others it is the financial management of the investment itself, especially when they don't have all the tools to optimize that investments cash flow.

I was discussing with my Broker the other day some of the most recent activity with new landlords.  We had an owner of 2 dozen or so properties move his properties over from another management company, but didn't like that we charged more.  The pain of paying more was obviously less than the pain of his vacancy with the other PM company.  That owner had been a little abrasive about the cost and my Broker assured him we were worht it.  Within 3 months he was at zero vacancy and my Broker was talking about the beer that would be bought by the owner for him and that he could have an 'I told you so" moment at his expense.

Many real estate investors spend far to much time on finding a realtor who will help them buy right, and far less time examining how to manage right.  We regularly turn away investors who have never managed their own property because they don't understand the value.  What is your time worth?  How much time will you devote to building your own management systems?  How much time will you devote to actively managing your property?  When you consider what property management companies charge to take care of all those tedious details and free up your time is it a cost or an investment?  Liability or asset?  Income or expense?  The attitude that comes with those words will determine how long you are a client or if you are a client of ours.

At zero vacancy this landlords property are assets not liabilities.  His time is free to focus on his other businesses and I am sure they will also benefit from his focus.