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Managing Your Management Company - A $300 Shortfall and an Arlington Court Date
Description
Steve tests positive for COVID-19 but experiences only mild symptoms - fatigue, muscle soreness, and loss of smell - while his wife deals with a more serious cold. He's missing work but plans to return after a negative test. The bigger challenge hits his rental business: after fees and management costs, one property would have lost $300 without a promotional $99 rent month saving it. He confronts his management company about their five-day minimum strategy that's hiding his one-bedroom condos from weekend searches, and they agree to adjust.
The conversation ranges across growth strategies and systems. Myka lists his Arlington condo for $125k to 1031 exchange into Arkansas properties that'll triple his cash flow. Steve picks up five Houston arbitrage units through Comfy, with Sarah handling the furniture setup, while studying David Green's BRRRR book to improve his 33% cash-on-cash return. They discuss the shift to direct bookings, using other people's money for acquisitions, and Myka's 35-door goal for 2021. Arlington code enforcement issues Steve a $300 citation after scrolling a full year ahead through VRBO calendars to find open dates in December 2021.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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