Episode 293, Self-Managing a Property Management Company
About The Episode
Have you ever considered managing your own properties instead of outsourcing to big companies? Well, then listening to this episode is a must! Today we have a conversation with the co-founder of REEP Equity, Jacob Garza, who shares with listeners the benefits of self-managing properties, the most important of which is the significantly reduced expenses. He talks about how he and his wife decided to opt for self-management, getting the appropriate certification, and what is was like transitioning from a third-party to doing it themselves. Jacob shares which performance indicators they pay attention to when evaluating their success and why he reckons they have had such surprising capital raises in only a short period of time. Be sure to tune in today!
Key Points from This Episode:
- The benefits of self-managing your investment properties.
- When they decided to self-manage and get the required certification.
- Transitioning from third party management to doing it in-house.
- Discipline and treating their property management company like a third party.
- How their business has improved since taking on the management themselves.
- The key performance indicators to be thinking about in evaluating growth.
- The locations of their properties and the number of employees in their management team.
- The hardest part of starting the management side of the business.
- What the investors and lenders’ responses have been to their self-managing.
- How they managed to raise such a large capital in a short period of time.
- And much more!
“I think what has driven us to self-manage our properties is that we can control the expenses better.” – Jacob Garza
Connect with Jacob via Facebook or LinkedIn. –