This Investor Built a Property Management Company as a Side Hustle (YOU CAN TOO!)
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 23 July 2024
⏱️ 61 minutes
🧾️ Download transcript
Summary
Are you ready to elevate your real estate game? Join us as we dive into game-changing property management tips with Chris J. Luna, a seasoned real estate investor who transitioned from landlord to property management mogul. In this value-packed episode, Chris shares his journey from building a $40 million portfolio to scaling a property management company, revealing the secrets to boosting your net operating income (NOI) and adding immense value to your properties.
Key Takeaways:
- The impact of NOI (Net Operating Income) on property value
- Strategies for reducing expenses and increasing revenue
- The importance of transparency with property managers
- How to utilize software like AppFolio for seamless management
- Tips for maximizing rents and maintaining low vacancy rates
Chris also discusses his innovative approach to building accessory dwelling units (ADUs) and how it’s transforming the rental market in San Diego. If you're looking to scale your real estate investments, this is a must-watch!
Learn how to invest in real estate with the Cashflow 2.0 System! Your business in a box with 1:1 coaching, motivated seller leads, & softwares. https://www.wealthyinvestor.com/
Want to work 1:1 with Ryan Pineda? Apply at ryanpineda.com
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | You're managing a hundred grand worth of rents a month. You know you're going to make six to ten grand a month. |
| 0:05.6 | We are pulling in I think it's like 10,000 right now, but we just had this crazy bump in rents for our student housing portfolio so my property manager |
| 0:14.9 | said we'll be pulling in about 15,000 per month. What made you go from being |
| 0:18.8 | the landlord to being the manager. You know... |
| 0:23.0 | All right, Chris, so you went from building a $40 million portfolio to now going all in on property |
| 0:28.8 | management. |
| 0:29.8 | What made you go from being the landlord to being the manager? You know one thing I can say about |
| 0:36.0 | multifamily investing, ADU flipping, whatever you're doing, it's that the |
| 0:40.3 | NOI net operating income dictates the value of these properties. And so when I realized |
| 0:45.5 | that I could save a dollar on an expense, what that would do to the valuation at a five cap, |
| 0:52.4 | I was like, this is a no-brainer why would I not |
| 0:54.4 | manage my own properties very well what ended up happening was we had the best |
| 0:59.0 | leasing agents the best contractors the best handyman and we said let's go all in on this and build a management company |
| 1:06.0 | and so others start bringing us their properties and now we're trying to scale this thing out in San Diego. |
| 1:10.0 | Yeah, so you guys got 50 properties under management now and the goals I assume to have hundreds and then thousands and all of that. |
| 1:18.0 | But you know, the reason I wanted to have you on is because I actually have never had a property manager on and the more I think about it the more I'm like dude this is such a great business model. |
| 1:28.0 | I mean it's recurring revenue, it's consistent, you know your expenses aren't that crazy. And you know, once you get one |
| 1:36.1 | investor, he's going to just keep bringing you more and more deals to manage. So like, |
| 1:41.0 | you know, you don't really even need that many clients to really start to build out a big operation. Yeah, yeah, it's really cool to see I mean it's all word of mouth I can do one little post that's the power of social media and say hey I got my brokers license I can |
| 1:53.4 | manage your property we have social media and presence and people are attracted to |
| 1:58.0 | that they want to be part of that so we created a company backyard brokerage |
| 2:01.9 | Inc and that's's the management arm for a lot of my students' properties and my own personal portfolio. |
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