#35 with Mark Ainley: Scaling to 1,000 Doors Under Property Management and The Process Guy

Millennial Millionaire Real Estate Podcast

English - July 09, 2020 21:14 - 1 hour - 120 MB - ★★★★★ - 56 ratings
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Previous Episode: #34 with Ben Leybovich: Scaling to 50 million in Acquisition and Always Focused on Personal Growth

Next Episode: #36 with Sean Williams: You know the Out of State Investor is Serious When They Pronounce Louisville Correctly

In this episode, Jonathan Farber interviews Mark Ainley on his path from househacking his first property at 21 to owning with partners over 900 residential units and 2 million commercial square feet. Mark runs a property management and brokerage firm based in Chicago. In this episode, we unpack topics like: deciding management, mistakes to avoid, scaling traps, and more!

Top Takeaways:

How to make management decisions for your first properties - 18:30 - 22:15

Self manage if you can

Only need external management if time or distance are too great

Consider opportunity cost when deciding if you have the time

Finding a property manager before buying will give you peace of mind

Mistakes to avoid when starting out - 22:30 - 26:30

When self managing, don’t tell the tenant you’re the owner

Use the distinction to your advantage and take the opportunity to ingratiate yourself

Great responsiveness makes owners and tenants feel valued

Pitfalls to watch out for when scaling - 31:00 - 36:00

Scaling without a process in place to keep things on track is a recipe for stagnation