Keys to Managing 3rd Party Property Management Companies | Tips from the Pros 💰

Jake and Gino Real Estate Entrepreneurs

Jake & Gino

Apartmentinvesting, Jakeandgino, Commercialrealestateinvesting, Makingmoney, Multifamilyrealestateinvesting, Investingsmart, Investing, Buyingapartmentbuildings, Buyingrealestate, Realestateinvesting, Realestateinvestment, Business, Cashflow, Smartinvesting

5 • 831 Ratings

🗓️ 29 August 2022

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Property management can be a tough business, but the pros know how to keep it profitable. In this video, Jake and Gino share their top tips for effective property management. Watch and learn how to keep your property management systems running in the black. In real estate, your network is your net worth, attend our Live Events and network with the fellow investors and professionals: https://jakeandgino.com/mm5 About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Subscribe to this channel: https://ytube.io/3McA Sign up for free training: https://jakeandgino.mykajabi.com/freetraining The resources you need to succeed at every level of apartment investing: https://jakeandgino.com/resources/ Apply for Mentorship: https://jakeandgino.com/apply/ #realestate #multifamilyrealestate #multifamilyinvesting #investing #apartmentinvesting Jake & Gino Facebook: https://www.facebook.com/jakeandgino/ Jake & Gino Twitter: https://twitter.com/JakeandGino Jake & Gino Linkedin: https://www.linkedin.com/company/jake-and-gino-llc/ Jake & Gino Instagram: https://www.instagram.com/jakeandgino/ More ways to engage with the Jake & Gino Investor Community: MM5: https://jakeandgino.com/mm5/ Rand Cares: https://jakeandgino.com/randcares/ The 100 Year Real Estate Investor: https://www.dualassetstrategy.com

Transcript

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0:00.0	Mr. G father, this is probably the case all too often for newer investors.
0:06.0	What can we do to avoid the dip after the multifamily honeymoon? Hi, Ray Jek and Gino here, and today we're discussing the keys to managing property management companies.
0:41.8	Lots of managing going on there.
0:43.6	We're talking about the keys to managing the manager.
0:47.9	Oh, the honeymoon.
0:48.9	You just bought this beautiful building.
0:51.0	It's set to pay you for the rest of your life.
0:53.3	You nailed your buy right criteria.
0:55.6	Heck, you may even have nice long-term non-recourse financing in place. Month one goes by.
1:02.8	You get a nice cash draw sent to the owners. Month two, oh, it's a little bit less, but everything's
1:08.5	all good. We're sitting here loving the passive income.
1:12.5	Month three, you get your end-a-month report and you'd see these vacancies. You weren't aware of those.
1:18.7	And now the property manager is telling you that there won't be a draw this month.
1:23.3	Oh, snap, what happened? You bought right. You hired a property management professional, and you have great financing in place.
1:33.3	Oh, thank God we got the G daddy here.
1:35.6	Mr. G father, this is probably the case all too often for newer investors.
1:41.3	What can we do to avoid the dip after the multifamily honeymoon? Jake, it's called
1:49.5	buy right, finance right, and manage right. Those first two are real sexy, you know, you know what
1:56.9	I'm saying? Brook Shields, when I grew up, that's kind of sexy. The third one, Kathy Ireland maybe, you know, I got you. Yeah, exactly. Let's think of someone who's not sexy looking. I'm saying? Brooke Shields when I grew up, that is sexy. The third one. Kathy Ireland maybe, you know, I got you.
2:01.6	Yeah, exactly.
2:02.4	Let's think of someone who's not sexy looking.
2:04.7	I'm being completely honest here because I think a lot of the educators out there
	...

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