Episode Details

DGS 70: Business Growth with Benton Cotter of RentVest

Published 7 years, 5 months ago

Description

What should you do when starting a property management business and trying to grow your number of doors?

Today, I am talking with Benton Cotter of RentVest. There's no question that he knows how to grow a property management business.

You'll Learn...

[01:33] Benton's background and how he got into property management.
[03:55] Going nationwide and growing from 79 to 4,000 doors in a few years.
[04:33] Steps to take when starting from scratch: Identify kind of company to create to determine clientele and marketing strategy Set fee structure: Do organic marketing, PPC, and SEO.
[05:13] Rework Philosophy: Start small, work hard, and start/pay marketing.
[06:14] Constant interruptions and constraints; it doesn't have to be crazy at work.
[08:37] Benton built big growth and expanded his network; opportunities are available.
[12:16] Being an owner and involved in all of it - from computers to marketing.
[13:46] Define your avatar, and narrow your niche.
[20:57] Don't get distracted; focus equals power.
[24:20] Identify strengths and weaknesses, but don't give up ownership too soon.
[28:18] Everyone makes mistakes; businesses are built on thousands of failures.
[31:07] Put profits back into the business, it will pay off later.
[37:35] How to get unstuck in sand trap of 50 units as a solopreneur.
[40:07] Entrepreneurs are resilient and adapt easily, but should self-reflect on skill set.
[42:30] RentVest's future goals regarding growth and getting great talent.
[44:20] #1 Growth Limiter: People's ability to offload and bring on new team members.
[47:50] Hiring Process: How to filter and find the right fit; ownership is a critical quality.