Episode Details

Are you aware of how much money you would need to protect and potentially replace all of the assets in the properties you manage?

Join Jason as he chats with Aaron Lombardo from North Star Reserves about what a reserve study is, and how having one completed can benefit your property management business.

[01:21] Who is Aaron from North Star Reserves?

[05:09] What is a Reserve Study?

[16:30] What is the Difference Between a Reserve Study and an Inspection?

[20:14] A New Concept: the "LIL Effect"

[33:50] How to Stop Your Clients from Micromanaging You

"Property's easy to manage. People are tough to manage."

"Retaining a client, you're continually selling them on why they should be with you. It involves trust."

"One thing that property managers incur too much is blame."

"Each property is a business and it needs to be able to be maintained."

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[00:00:00] Aaron: what the reserve study really does is creates kind of an internal bank of their own funds and we help them manage a threshold so they can have a zero base threshold where they're just managing just enough in contributions to maintain those assets over long term or they can increase that threshold so that there's a nest egg if you will, a buffer or padding

[00:00:21] Jason Hull: Welcome DoorGrow Hackers to the # DoorGrowShow. So if you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you're interested in growing in business and life, and you're open to doing things a bit differently then you are a DoorGrow Hacker. DoorGrow Hackers love the opportunities, daily variety, unique challenges and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not bebecause you realize that property management is the ultimate, high trust gateway to real estate deals, relationships, and residual income. At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the bs, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host property management growth expert, Jason Hull, the founder and CEO of DoorGrow. Now let's get into the show.

[00:01:21] Aaron: I went in and got my undergrad, my bachelor's in psychology. So I majored in family and marriage therapy and kind of the end of that I realized I didn't want to be in psych. I love it. I love people, but I migrated very quickly into the construction industry. And I worked for the third largest builder in the country and managed multimillion dollar budgets as far as from the building side and construction. Was recruited by the largest builder in the state of Utah and spent quite a bit of time with them working through kind of their ranks, managing, again, oversight on millions of dollars in purchasing materials, actually building the structures from the ground up. That experience led me into the general manager position with them on their custom home division quietly running this custom home division. They were really a track