MI300: Niche Down to Scale Up w/ Peter Lohmann

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6 • 592 Ratings

🗓️ 23 October 2023

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

Patrick Donley (@JPatrickDonley) sits down with Peter Lohmann to talk about how he got his start in real estate and property management. They also dive into key principles for running a successful business including lessons from the E-Myth and Traction. You’ll learn how Peter has niched down to scale up his business, how he allocates his time for maximum ROI, and how to smash limiting beliefs and start thinking bigger in terms of what’s possible for your life and business. Peter is the CEO & principal broker of RL Property Management, a residential property management company located in Columbus Ohio. RL manages over 600 units. Peter also owns a small engineering company also located in Columbus, run by his business partner. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro. 02:01 - Peter’s early start in real estate and property management. 04:42 - How he built his company to manage over 600 units with 20 people. 04:55 - What it was like leaving his W-2 job. 10:12 - What his first real estate investments were like and how they went. 15:42 - How he decided on property management as a business venture. 18:32 - Why Peter chose a flat fee pricing model. 28:45 - How he went about finding clients. 29:47 - What he means by niching down to scale up. 35:28 - What is the principal/agent problem in real estate and property management. 36:52 - Why that transition can be so difficult and what helped Peter make the journey. 41:26 - Why the experience you get in your first real estate deals is most important. 44:18 - What Peter’s limiting beliefs were and how he overcame them. 60:43 - What some of his key takeaways have been from doing his podcast. 62:04 - The importance of thinking big. 65:30 - How Peter allocates his time for maximum ROI. 01:09:57 - Why writing is a superpower. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. The Everything Guide to House Hacking by Robert Leonard. Rich Dad Poor Dad by Robert Kiyosaki. E-Myth by Michael Gerber. Vivid Vision by Cameron Herold. Traction by Gino Wickman. Millionaire Next Door by Thomas Stanley. 10X is Easier than 2X by Dan Sullivan. Extreme Ownership by Jocko Willink. Related episode: Listen to REI192: Building an Empire w/ Nick Huber or watch the video. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Patrick: Twitter Connect with Peter: Website | Twitter Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP. When I think about the overall takeaway that I have, it has to be thinking
0:06.6	big. The folks on there who are the most successful, it's clear that they think bigger. It's simple to
0:14.1	say, so finitely difficult to execute on, and it ties right in with limiting beliefs.
0:22.7	Hey, everybody, in this week's episode, I got to sit down with Peter Lohman to talk about
0:26.6	how he got his start in real estate and property management. We also dive into key principles
0:31.2	for running a successful business, including lessons from the books, The E-Mith and Traction.
0:36.2	You also learn how Peter has niched down to scale
0:38.4	up his business, how he allocates his time for maximum ROI, and how to smash through limiting
0:43.5	beliefs and start thinking bigger in terms of what's possible for your life and business.
0:48.3	Peter is the CEO and principal broker of RL Property Management, a residential property management
0:53.3	company located in Columbus, Ohio.
0:56.3	RL manages over 600 units, and Peter also owns a small engineering company located in Columbus,
1:01.9	which is run by his business partner. Peter received his bachelor's degree in electrical engineering
1:06.6	and spent five years in the industry before founding RL property management in 2013.
1:12.7	Peter shares a ton of great nuggets of wisdom on how to grow a business in this one,
1:16.4	so be sure to give it a listen to the very end.
1:19.0	And now, let's dive into this week's episode with Peter Lohman.
1:23.4	You're listening to Millennial Investing by the Investors Podcast Network,
1:27.7	where your hosts, Robert Leonard, Patrick Donnelly and Kyle Greve, interview successful entrepreneurs,
1:33.9	business leaders and investors to help educate and inspire the millennial generation.
1:51.9	Hey, everybody, welcome to the millennial investing podcast. I'm your host today, Patrick Donnelly, and joining me today is Mr. Peter Lohman. Peter, welcome to the show. Great to be here. Thanks, Patrick.
1:57.6	I wanted to just kind of jump right in. We will definitely touch on property management
	...

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