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DGS 98: New Paradigms in Property Management with Lisa Wise of Nest DC
Description
Everybody needs and deserves a place to live that is clean, maintained, and safe. Better yet, It makes perfect sense to get someone else to pay your mortgage by giving them a great space at a great rate and share some resources.
Today, I am talking to Lisa Wise, co-founder of Nest DC, which manages residential units throughout Washington, DC. The company is committed to customer service, quality spaces, and excellent living experiences.
You'll Learn...[02:23] Nest continues to experience exceptional growth and measures success by revenue and number of jobs it's created.
[02:34] Fun Spaces: Fixing an Adobe duplex where nothing's square and everything's made of dirt led Lisa to love her accidental landlord role in property management.
[04:09] Non-profit Dedication: Do what you can for the community, in terms of what you want to do professionally, due to ability to manage and maintain properties.
[05:04] Origin of Nest DC: Grow one property at a time, and focus on service forward to take care of tenants, spaces, and places.
[05:56] Property managers can make a meaningful impact by helping people and families preserve a better quality of life in their homes.
[11:00] Bad Strategies for Building Relationships: Ignoring problems, letting things fall into disrepair, not paying expenses for repairing things—none of those are good..
[11:23] Property Manager Opportunities: Daily variety, unique challenges, freedom, and direct impact.
[13:32] Cycle of Suck: Bad managers control costs and fail to maintain property; if people are unhappy with where they're living, they're less likely to be great tenants.
[19:20] Onboarding Process: Set expectations on maintenance costs and educate them on why they need to maintain the property at the highest level to take care of tenants.
[21:28] Ways to strategically grow through painful stages: Evaluate technology, be nimble, and cherish staff.
TweetablesGrow one property at a time, and focus on service forward to take care of tenants, spaces, and places.
It's truly an act of trust and intimacy to be invited to manage someone's home and personal space.
Property managers can make a meaningful and powerful impact by helping people.
If people are happy where they live, then they're just better neighbors.
ResourcesNational Association of Residential Property Managers (NARPM)
TranscriptJason: Welcome, DoorGrow hackers to the DoorGrow Show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing your 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, because 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 businesses and their owners. We want to transform the industry, eliminate the BS, build awareness, change the perception, expand t