CW 951 - Jason's Hybrid Property Management Strategy with Mom & Drew Part 1

It's time for Jason Hartman to have a good, old fashioned discussion on property management. This time, however, there are THREE sides at the table.

In one corner is Jason's mom, Joyce, who is an EXTREME do-it-herself self-manager. In another corner is Drew, who has always been with a property management company and isn't ready to step into the self-management world. And in the final corner is Jason, with his method of a hybrid model.

Listen in as these three discuss concerns, strategies, and tips for property management, no matter which road you decide to go down.

Key Takeaways:

[7:51] The hardest part of Jason's business is property management

"Sometimes it's better to delegate, I admit, but sometimes it's better to just do things yourself"

[10:16] Drew's properties in Indianapolis were A builds, but after the Great Recession they're in C+ neighborhoods now

[13:05] Jason's hybrid self-management practice

[17:00] Where Joyce gets access to running credit reports and everything she needs to do to screen tenants

"The longer you have that tenant, the less hassle you have with that tenant"

[21:58] The most important thing you need to communicate to your tenant about rent

[27:52] Property managers have inherent conflicts of interest

[29:48] How Joyce gets her property ready for the next tenant

[32:26] Questioning pricing can frequently lead to dramatic reductions in price

"Don't be afraid to make deals with your tenants, a lot of times they want to improve the property"

Websites:

www.JasonHartman.com/Properties