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Real Estate Investing with Coach Carson

#340: 10x your Cashflow & Freedom by Self-Managing Rentals

Real Estate Investing with Coach Carson

Chad Carson

Business, Investing

4.9613 Ratings

🗓️ 22 April 2024

⏱️ 58 minutes

🧾️ Download transcript

Summary

⭐ Join Rental Property Mastery, my community of rental investors on their way to financial freedom:

https://www.coachcarson.com/rpm

🎙️ Episode #340 – Discover how to treat your tenants like VIP customers while achieving financial independence as a landlord. Amelia and Grace share their top tips for leveraging technology, smart hiring, and streamlined operations to provide exceptional service and boost your bottom line.

📄 Show Notes:

https://www.coachcarson.com/selfmanagerentals/

▶️ Next Video: How Many Rentals Do You Need to Retire

https://youtu.be/A_uxNcEITlA

🎬 Timestamps:

0:00 - How to Manage Rentals Yourself

1:04 - What % of Landlords Self Manage Their Properties?

2:05 - Why Self Manage?

4:40 - Types of Properties Starting Out vs Today

6:34 - Pitfalls with Hiring Managers

8:14 - Owning a Business vs Side Hustle Mindset

11:12 - Key Business Metrics to Pay Attention To

13:23 - Tools for Tracking Finances

20:35 - Landlord Tenant Relationship

22:09 - Finding Great Tenants and Customer Service

28:38 - Managing Paperwork and Onboarding

39:58 - Moving from Self Management to Outsourcing

50:50 - Handling the Pressure of Paying Team Members

52:57 - About "The Self Managing Landlord" Book

🔗 Connect with Amelia & Grace:

The Self-Managing Landlord Book:

https://store.biggerpockets.com/products/self-managing-landlord

Instagram:

https://www.instagram.com/ameliajorei/

https://www.instagram.com/wiire.community

https://www.instagram.com/grace.investing

Website:

https://www.womeninvestinrealestate.com

--------------------------
⚒️ Get my FREE Real Estate Investor Toolkit:

https://www.coachcarson.com/toolkit-pod 

🖥️ Learn with Coach (Courses, Books & more):

https://www.CoachCarson.com 

👋 Connect with Me:

📸 https://www.instagram.com/coachchadcarson

👍 https://www.facebook.com/coachchadcarson

🐦 https://twitter.com/CoachChadCarson

💰 DealMachine – Software to help you buy more real estate deals:  https://www.coachcarson.com/dealmachine 

Transcript

Click on a timestamp to play from that location

0:00.0

So you've decided to manage your own rental property.

0:02.4

While that can save you some money, it can also become another job and a big hassle if you're not careful.

0:07.7

But there are landlords who figured out how to self-manage their own rentals using technology, systems, and a team that actually increase their personal freedom.

0:15.4

Today, I'm interviewing two of those landlords who are going to share their secrets with you in this episode, and we're getting started right now.

0:29.3

Welcome to the podcast Real Estate Investing with Coach Carson.

0:32.1

I'm your host, Chad Carson.

0:33.5

You can also call me Coach Carson, and this is a show to help you get out of the financial

0:36.8

grind so you can spend your time doing more of what matters. Let's get right to the interview with today's guest, Amelia McGee and Grace Gudenkov. Hey, Grace, hey, Amelia. Welcome to the podcast. Hello. Thanks, Chad. We're super excited to be here. Thank you for having us on. Excited to have you. Congratulations on your new book. We're going to talk all about it today. And as a fellow author, I know how that process goes. And it's a doozy. It's a lot of work. But your topic in particular is awesome. I love it. And I actually interviewed my audience recently to find out. I was just curious about how many people who listen to this podcast

1:11.6

who watch my YouTube channel are self-management versus hiring managers versus a mix of those.

1:18.4

Do you guys have a guess what that would be? What would be your guess?

1:22.8

Oh, that's a good poll. We should really run that on ours. I'm going to say 70% self-manage.

1:29.7

Okay. What do you think, Grace? I think less. It was actually a good guess because I was shocked

1:36.0

by this. I thought it would be like 50-50 maybe or somewhere in there. So we have 50 to 60%, depending on which

1:41.9

platform I was on, self-manage 100%.

1:44.3

And then if you include people who have a mix of self-management and third-party managers,

1:50.0

which I do as well, then you get up to 70 to 80 percent of my audience.

1:54.0

So 20 to 30 percent hire managers exclusively.

1:58.4

The rest of them need exactly what you're talking about in your book.

2:02.9

And so I think this is such a relevant topic. And I'd love just to talk to both of you about why

2:08.4

so many people are doing this and need this information. But why did you go the route of

2:13.9

managing yourself, DIY investing? And what was that like in the beginning?

2:19.1

Yeah. So for me, I started as a DIY landlord self-manager because I needed every single

...

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