984: 10 Ways to Manage Your Real Estate Portfolio - Episode 984
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 21 September 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
On today's show, I'm going to walk you through ten specific steps you need to take in order to maintain the health of your portfolio. We'll discuss working closely with your property management team, what to do with insurance and taxes, plus some mindset shifts that will help you stay on top of things. Click play to learn about 10 ways to manage your real estate portfolio!
Transcript
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| 0:00.0 | I've said it before but it bears repeating. If you want to be an effective real estate owner |
| 0:09.3 | you can't expect an entirely passive experience in order for things to run smoothly at your rental |
| 0:14.6 | properties there are certain roles and responsibilities that you'll need to take an |
| 0:18.3 | initiative on and that's what we're going to talk about in this video so we're going to |
| 0:22.1 | go over ten ways to manage your rental portfolio. |
| 0:25.5 | Welcome in everyone to Morris Invest. I'm Clayton Morris, long time real estate investor. |
| 0:30.0 | And on this channel, we aim to make you a more intelligent investor. |
| 0:33.7 | All right, so let's get into it. |
| 0:35.0 | Number one on my list of ways to help you manage your rental portfolio |
| 0:39.5 | is number one, be the boss. |
| 0:41.4 | At the end of the day, it's a business. You have to remember that this is your business and no one cares about it as much as you do. |
| 0:49.0 | So if you're unhappy with your property manager or you need help with something, it's up to you to seek out |
| 0:56.1 | solutions. No one else is going to do this for you. This also means mapping out your strategy, |
| 1:01.6 | staying on top of your goals, and in general, you need to keep on top of things. |
| 1:05.8 | So how do you stay organized? |
| 1:07.6 | Do you have spreadsheets? Do you have a bookkeeper that you hire? |
| 1:10.4 | Are you monitoring your monthly cash flow? |
| 1:13.0 | All of these things, remember it's your business, nobody else's. |
| 1:17.0 | Number two, keep learning and growing. |
| 1:19.0 | This is vital. |
| 1:20.0 | Again, doctors every year are studying new research papers, learning, learning, learning, |
| 1:27.0 | going to continuing education classes across all industries. |
... |
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