The Stacey Salyer Show: Buying & Selling Property Management Companies

This episode is a little different! We're recording from Las Vegas during the NARPM National Convention, and instead of me interviewing a guest, my sales director, Erin Lindstrom, is turning the tables and interviewing me. We're pulling back the curtain on my journey in property management, the lessons I've learned from buying and selling businesses, and why I believe acquisitions should be part of every property management owner's growth strategy. I share how I went from leaving a six-figure job as a single mom of three to building my own property management company, acquiring nearly 400 doors during COVID, and eventually transitioning into teaching other owners how to grow through acquisitions. We also get into some of the things I wish I'd known before my first acquisition, why local property management owners have an advantage over private equity buyers, and how I'm approaching my next chapter as both an acquisition strategist and an active buyer. Plus, we're talking about what's ahead in 2027, including AI, changing industry dynamics, and why I believe the next few years will be pivotal for property management companies.If you've ever thought acquisitions were too complicated, too expensive, or simply something other business owners do, this episode might change your mind. What You'll Learn in This Episode:✔️ Why I believe every property management owner should consider acquisitions as a growth strategy✔️ How acquiring nearly 400 doors during COVID allowed me to triple the size of my business overnight✔️ Why buying a property management company requires specialized due diligence and a clear strategy✔️ How to overcome the fear and operational overwhelm that often prevent owners from pursuing acquisitions✔️ Why defining your acquisition "buy box" is one of the most important first steps✔️ How retiring business owners, private equity activity, and AI are changing the property management landscape✔️ Why local operators may have a competitive advantage over larger, better-funded buyers✔️ How seller financing and other creative deal structures can make acquisitions possible without significant upfront capital✔️ The biggest mistakes I made during my first acquisition and what I'd do differently today✔️ Why due diligence, employee relationships, seller agreements, and non-compete provisions matter✔️ How my experience as a visionary and builder influences the way I approach acquisitions and coach business owners✔️ What I've learned about leadership, delegation, and building businesses as a single mom and entrepreneur✔️ Why I'm actively acquiring again and how I'm applying the same strategies I teach my clients✔️ How agentic AI could fundamentally change the operational capacity of property management companies✔️ Why understanding acquisitions can also help you build a more valuable, sellable business, even if you never buy another company Ready to Grow Through Acquisitions?Enrollment is open for Stacey's next Slayer's Built to Acquire™ cohort, starting in November! This three-month program is designed to help property management owners define their acquisition strategy, identify the right opportunities, and confidently source, evaluate, and close deals. Enroll, learn more, or book a call with Stacey's team: https://www.staceysalyer.com/built-to-acquireConnect With StaceyWebsite: https://www.staceysalyer.com/Facebook: https://www.facebook.com/the.stacey.salyer/Instagram: https://www.instagram.com/stacey.salyer/LinkedIn: https://www.linkedin.com/in/stacey-salyer-39254012  

In this episode, I’m joined by Tim Wehner and Blake Mohseni of Rising Tide for a conversation about a different approach to buying and growing property management companies. Traditional acquisitions often involve rebranding, consolidating systems, and integrating teams into a larger organization. But what if there were a way to grow through acquisitions while allowing local operators to keep the businesses, relationships, and systems they’ve already built? Tim and Blake share the vision behind Rising Tide, why they’re focused on partnering with owners who want to continue growing, and how they’re using AI and shared infrastructure to help property management companies scale without losing their local identity. We also get into the challenges of buying and integrating property management companies, why the people side of an acquisition is often harder than the numbers, and how trust, communication, and change management can make or break a deal. Plus, Blake shares how Rising Tide's free AI implementation program, The Lab, is helping operators streamline workflows and create more capacity for their teams. What You’ll Learn in This Episode:✔️ Why Rising Tide is taking a different approach to acquiring property management companies✔️ How their federation model allows local operators to maintain their brand, team, and existing systems✔️ Why Tim and Blake are particularly interested in partnering with owners who want to stay involved and continue growing✔️ How shared infrastructure and AI can help smaller property management companies scale✔️ Why Rising Tide doesn't believe every acquired company needs to move onto the same technology stack✔️ What Tim has learned from participating in dozens of property management acquisitions✔️ Why finding the right acquisition opportunity is becoming increasingly competitive✔️ Why the people side of an acquisition is often the most difficult part of the process✔️ How employee and owner retention can impact the success of an acquisition✔️ Why trust, transparency, and communication are essential during the acquisition process✔️ Why buyers should consider the mindset and readiness of key employees during due diligence✔️ How Rising Tide's free AI program, The Lab, helps property management companies improve workflows✔️ How AI agents can work across existing property management software to reduce repetitive administrative work✔️ Why using technology to free up employees for higher-value relationships can create a stronger business More About TimTim Wehner is Head of Acquisitions at Rising Tide, bringing extensive experience in property management operations, growth, and mergers and acquisitions. He spent more than a decade helping grow Dodson Property Management from approximately 118 units to more than 7,000 before its merger with Evernest in 2022. He later led acquisitions at Evernest, gaining firsthand experience with the challenges of integrating companies, teams, and cultures. A former National President of NARPM, Tim brings an operator-first perspective to acquisitions, with a particular focus on building trust, retaining talent, and creating successful long-term partnerships. More About BlakeBlake Mohseni is the Founder and CEO of Rising Tide, a company focused on acquiring and partnering with independent property management firms while preserving their local brands, teams, and relationships. With a background spanning business operations, consulting, technology, and AI, Blake has spent his career helping organizations build the systems and infrastructure needed to scale. Through Rising Tide, he is bringing that experience to property management, combining shared resources, AI-powered solutions, and a partnership-focused acquisition model to help operators grow while maintaining what makes their businesses successful. Connect With Tim and BlakeRising Tide Website: https://www.risingtidehq.com/index.htmlApply to The Lab: https://www.risingtidehq.com/the-lab/index.htmlTim’s LinkedIn: https://www.linkedin.com/in/tim-wehner-rmp-mpm-36292925/Good Operators Podcast: https://www.risingtidehq.com/good-operators/index.html Connect With StaceyWebsite: https://www.staceysalyer.com/Facebook: https://www.facebook.com/the.stacey.salyer/Instagram: https://www.instagram.com/stacey.salyer/LinkedIn: https://www.linkedin.com/in/stacey-salyer-39254012

In this episode, I’m joined by two returning guests, Jordan Coleman with Live Oak Bank and Patrick Hurley with PM Broker Group, for a conversation about what buyers and sellers need to know about today’s property management M&A market. There’s more conversation than ever around buying and selling property management companies, but that doesn’t mean every buyer, seller, or deal is actually ready to move forward. Realistic expectations, clean financials, the right buyer-seller fit, and a clear understanding of what a business can actually support all play a major role in whether a transaction gets to the closing table. Jordan, Patrick, and I talk about what they’re seeing in the market, why buyers are becoming more discerning, and why knowing your buy box matters before you start looking for an acquisition. We also get into valuations and multiples, why SDE is more useful than gross revenue when evaluating a business, what sellers should have organized before going to market, and why waiting too long to sell can ultimately work against you. What You’ll Learn in This Episode:✔️ What Jordan and Patrick are seeing in the property management acquisition market right now✔️ Why finding the right buyer-seller fit matters beyond simply being able to afford the deal✔️ Why buyers need a clear and realistic buy box before pursuing acquisitions✔️ Why finding the right property management company to buy takes more than waiting for a great deal to appear✔️ Why buyers and sellers need realistic expectations around valuations and multiples✔️ Why Patrick recommends looking at Seller’s Discretionary Earnings (SDE) instead of valuing a company based on gross revenue✔️ Why clean, organized financials can make or break a transaction✔️ What sellers should have prepared before bringing their business to market✔️ How standardized accounting and clean books can make it easier for buyers and lenders to understand the business✔️ Why overpricing a business from the beginning can hurt a seller later✔️ Why sellers shouldn’t start stripping down their business before putting it on the market✔️ Why preparing your business before a sale can help you get more value on the back end✔️ What Jordan and Patrick believe buyers and sellers should keep in mind heading into 2027 More About JordanJordan Coleman is a Loan Officer on the property management team at Live Oak Bank. She began her career at Live Oak Bank in 2016 as a Loan Closing Specialist, working closely with businesses across more than 13 industries throughout the country.Jordan graduated from East Carolina University with a degree in Financial Services and is dedicated to building long-lasting relationships and helping small business owners pursue their goals. Connect With JordanWebsite: https://www.liveoak.bank/business-loans/property-management/LinkedIn: https://www.linkedin.com/in/jordan-coleman-5b916059/ More About PatrickWith more than two decades of experience in real estate and property management, Patrick Hurley brings an operator-first perspective shaped by building, acquiring, and operating property management companies, along with real estate brokerages and a property and casualty insurance agency. Through PM Broker Group, Patrick focuses specifically on property management mergers and acquisitions, helping owners think through growth, succession, and successful exits. He brings an industry-specific, straightforward approach with an emphasis on professionalism, execution, and long-term value creation. Connect With PatrickWebsite: www.PMBrokerGroup.com Connect With StaceyWebsite: https://www.staceysalyer.com/Facebook: https://www.facebook.com/the.stacey.salyer/Instagram: https://www.instagram.com/stacey.salyer/LinkedIn: https://www.linkedin.com/in/stacey-salyer-39254012

In this episode, I’m joined by David Normand, Chief PM at Vendoroo, to break down what agentic AI actually means for property management and how it’s already changing the way maintenance teams operate. David has spent 20 years in the property management industry, and his experience spans everything from growing a small property management company to overseeing large-scale maintenance operations. He brings an operator’s perspective to the conversation around AI, and we dig into the difference between chatbots and true AI agents, why introducing an AI teammate isn’t as simple as plugging in new technology, and why the way you hire, train, and manage people matters just as much when you’re working with AI. We also talk about what this shift could mean for staffing, customer experience, response times, maintenance operations, and scalability. David shares real-world examples of property management companies using AI to reduce repetitive tasks while freeing their human teams to focus on higher-value work, from resident experience and vendor performance to larger maintenance projects. If you’re curious about agentic AI but still wondering what it actually looks like inside a property management company, this episode is a practical look at where the technology is today and how operators can start thinking about using it. What You’ll Learn in This Episode:✔️The difference between traditional chatbots, AI-assisted workflows, and agentic AI✔️ Why David thinks of an AI agent as a teammate rather than simply another piece of software✔️ How agentic AI can learn the unique policies, preferences, and customer service standards of your property management company✔️ Why you shouldn’t add an AI teammate on top of broken processes or unclear roles✔️ How to approach onboarding and training an AI agent similarly to onboarding a new employee✔️ Why business owners need to understand their company identity before they can effectively train AI to represent it✔️ How AI can preserve the “tribal knowledge” property managers often keep in their heads✔️ Why David says response times of 15 to 90 seconds and 24/7 availability are becoming new benchmarks in property management maintenance✔️ How AI can help teams move away from repetitive maintenance tasks and toward resident experience, vendor performance, and higher-value work✔️ Why David believes AI can help operators manage by exception rather than constantly managing every task✔️ How one company with 800+ doors is operating with one human maintenance coordinator alongside AI✔️ Why AI doesn’t need to be perfect to create meaningful operational value✔️ How identifying resident frustration earlier can help property managers improve the customer experience✔️ Where David sees humans continuing to add the most value, especially on large projects and high-stakes decisions✔️ What Vendoroo is building next, including new AI personas for maintenance management and dispatching More About DavidDavid Normand is Vendoroo’s Chief PM and a 20-year property management industry veteran, with 15 years focused specifically on property management maintenance operations. Previously, as CEO of RentVue, David automated maintenance services completing 100,000 work orders. Throughout his career, David has worked across property management operations and maintenance logistics, giving him an operator’s perspective on how technology can support property management teams without losing the judgment, empathy, and customer experience that humans bring to the work. Website: https://www.vendoroo.ai/about-usLinkedin: https://www.linkedin.com/in/davidnormand/Watch The 4-Bucket System on YouTube: https://www.youtube.com/watch?v=MxB6NUTy7lw Connect With StaceyWebsite: https://www.staceysalyer.com/Facebook: https://www.facebook.com/the.stacey.salyer/Instagram: https://www.instagram.com/stacey.salyer/LinkedIn: https://www.linkedin.com/in/stacey-salyer-39254012

In this episode, my good friend Pablo Gonzalez of Vendoroo is back on the show for a different kind of conversation: our predictions and hot takes for where the property management industry is headed in 2027 and beyond. We’re talking AI agents, the rise of the “PM in a box,” acquisitions, changing company valuations, and what happens when one person can potentially manage hundreds, or even 1,000, doors with the support of AI. We also dig into what all of this means for the software property managers rely on, the future of industry conferences, and how property management companies may need to position themselves to compete. Some of these shifts are already happening. Others are predictions we’ll have to come back and check at the end of 2027. Either way, if you own a property management company, these are conversations worth having now. What You’ll Learn in This Episode:✔️ Why Pablo predicts we’ll see a major rise in “PM in a box” solutions by the end of 2027✔️ How AI agents could change the way property management companies operate and staff their businesses✔️ Why traditional SaaS platforms may need to evolve dramatically to stay relevant✔️ Whether one property manager could eventually oversee 800 to 1,000 doors with the right AI infrastructure✔️ How AI could disrupt traditional referral channels for acquiring new doors✔️ Why acquisitions could become an even bigger conversation across the property management industry✔️ How property management conferences could become a major meeting ground for buyers and sellers✔️ Why sellers should use industry events to meet potential buyers and understand what the market is willing to pay✔️ How AI adoption and operational capacity could eventually influence property management company valuations✔️ Why door count may no longer be enough to measure the strength or scalability of a property management company✔️ Why future PM companies may increasingly compete on either price or advice✔️ The role “elite advice” could play as more operational property management tasks become commoditized✔️ Why experimenting with AI now can help owners determine where humans and technology belong in their future org chart✔️ Why property management conferences may need to bring in more experts from outside the industry More About PabloFrom green building to community building to rental property investing, Pablo Gonzalez has a track record of spotting disruptive industry trends, building movements around them, and creating massive value for those that follow for 15+ years. As the Chief Evangelist of Vendoroo, Pablo has a front row seat at watching the collaboration between the greatest minds in maintenance, AI, and product development work with property managers to finally break out of the burnout loop caused by maintenance in property management. His job is to tell that story to benefit property managers everywhere. Website: https://vendoroo.ai/Instagram: https://www.instagram.com/connectwithpablo/ Connect With Stacey Website: https://www.staceysalyer.com/Facebook: https://www.facebook.com/the.stacey.salyer/Instagram: https://www.instagram.com/stacey.salyer/LinkedIn: https://www.linkedin.com/in/stacey-salyer-39254012