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DGS 87: Strategies for Growth into Multiple Markets with Bryan Jenkins and Jonathan Cook of AHI Properties
Description
If you enjoy unique challenges, daily variety, learning new things, finding opportunities, and experiencing freedom, then you would probably be successful in property management. Entrepreneurs would rather work 80 hours a week for themselves, than for someone else. You don't have to do it all on your own. Be willing to take some risks, and connect with like-minded people. Let your entrepreneurial spirit fly!
Today, I am talking to Bryan Jenkins and Jonathan Cook of AHI Properties. They share strategies that consistently grow their business and add doors in multiple markets.
You'll Learn...[02:00] Keep on Growing: Corporate housing to single-family homes to property management.
[05:25] Real Estate Market Crash: Created shift in income and dealing with investors, despite technology.
[07:20] Love it, or Hate it: Learn something new every day in property management.
[08:05] When's the right time to grow and expand? Adding doors in multiple markets.
[09:42] Sand Traps: Think outside the box to grow property management business.
[11:15] Educate Clients with Market Knowledge: Direct investors into markets where they can make money and purchase more doors for AHI to manage.
[12:03] Game Changer: Diversifying existing portfolio and dealing with accidental landlords who leave when it's a good time to sell.
[13:40] Recipe for Success: Gain momentum and referrals by building partnerships and relationships with sister companies, third-party providers, and contractors.
[19:57] Four Ds to Revenue: Deals, Doors per deal, Duration, and Dollars.
[24:30] Focus on Funnel: Multiple sources serve as supply line for incoming clients.
[26:07] Strategies and Approaches: How to expand and operate in multiple markets.
[27:13] False Scarcity: There's plenty of opportunity to create business and follow up because 70% self-manage single-family residential properties.
[29:10] Remember Me? Make sure to have a Customer Relationship Management (CRM) strategy to keep track of clients and properties.
[36:07] Bryan's Biggest Piece of Advice: Keep an open mind, don't be afraid, but focus on multiple funnels and opportunities to develop client relations.
[38:03] Generational Change in Property Management Profession: Think about technology, bring awareness, and open people's minds.
TweetablesLet your entrepreneurial spirit fly.
Recipe for Success: Gain momentum and referrals by building partnerships.
Four Ds to Revenue: Deals, Doors per deal, Duration, and Dollars.
ResourcesNational Association of Residential Property Managers (NARPM)
U.S. Department of Housing and Urban Development (HUD)
Deb Newell of Real-Time Leasing
Transcript
Jason: Welcome, D