248: Why Property Managers Are Heroes with GRE’s John Collins

Why Property Managers Are Heroes with GRE's John Collins

by Keith Weinhold | Get Rich Education

Property management is the glue that makes your investment stick together. But it’s a tough job.

GRE’s own John Collins has done management consulting on a project of 159 single-family rental homes.

Problems he encountered:

  • 30% pay rent late or not at all
  • Arson
  • Unassigned parking spaces
  • Domestic violence 
  • Abandoned car
  • Condensation
  • Pets and pests
  • “Jerry Springer Show” in leasing office
  • Unwanted boyfriend that wouldn’t leave
  • Syringes found in home
  • Daylight coming in through baseboard

Upgrading tenants from C-Class to B-Class.

Raising the rent attracted better tenants.

With just a $3 monthly rent increase per unit at a 6% cap rate, the project value increases $100,000. We break down the math.

What gets measured gets improved.

Maintenance issues occur with a property about quarterly.

Practicing “tactical empathy”. 

To contact John, e-mail info@getricheducation.com with “For John Collins” in the subject line.

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Resources Mentioned >

Resources Mentioned: Contact John Collins via e-mail: info@getricheducation.com | Mortgage Loans: RidgeLendingGroup.com | Turnkey Real Estate: NoradaRealEstate.com | QRP: TotalControlFinancial.com | JWB New Construction Turnkey: NewConstructionTurnkey.com | Our Tampa Real Estate Field Trip: RealEstateFieldTrip.com | Best Financial Education: GetRichEducation.com | Find Properties: GREturnkey.com

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