In this episode of the REI Deal Finders podcast, I’m diving deep into one of the most critical pieces of the real estate investing puzzle—property management. Whether you’re currently managing your own rentals, thinking about hiring a professional, or just getting started, this episode will give you a clear, actionable roadmap. I share the systems, lessons, and mindset that helped me scale from a single rental to managing over 90 units.

 

From tenant screening to rent collection, legal compliance, and maximizing cash flow through strategic add-ons, we cover it all. You’ll hear real-world examples, mistakes I’ve made along the way, and how good management can protect your investment and build long-term wealth. If you’re ready to stop winging it and start managing your rentals like a business, you’ll want to listen to this one.

 

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Episode Highlights

 

[0:00 ] - Introduction

[2:02 ] - Why property management is the most important part of your rental business

[3:21 ] - How hospitality principles can transform tenant relationships

[6:11 ] - What bad management actually costs you—cash flow, tenants, and lawsuits

[8:01 ] - Why happy tenants pay more and stay longer

[10:07 ] - Tracking your net worth and how property management supports it

[15:19 ] - The do’s and don’ts of tenant screening (and how to avoid lawsuits)

[18:14 ] - Fair Housing violations and how they can cost you $50,000 or more

[21:12 ] - Why third-party application systems protect you from scammers

[24:29 ] - Lease mistakes that can cost you in court

[28:04 ] - Systems that make rent collection easier, faster, and more consistent

[31:20 ] - Creative ways to boost revenue through fees, services, and add-ons

[35:01 ] - Why emotion has no place in property management

[37:22 ] - The true cost of ignoring maintenance requests

[47:08 ] - When to switch from self-management to professional property management

[51:03 ] - The hidden costs of doing it yourself

[54:00 ] - What to ask when hiring a property management company

[56:29 ] - Why better management equals better properties, better returns, and less stress

[57:13 ] - The most important advice: keep learning and don’t quit too soon

 

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5 Key Takeaways

 

1. Good management increases cash flow and net worth – It’s not just about collecting rent. Proper systems reduce vacancies, increase tenant retention, and protect your asset.

2. Tenant screening is your first and most important defense – Use consistent standards, verify everything, and avoid Fair Housing violations at all costs.

3. Use technology to streamline everything – From rent collection to maintenance requests, automation reduces headaches for you and your tenants.

4. Creative fees can grow your bottom line – Pet rent, renter’s insurance commissions, utility packages, and more can increase your property’s value.

5. Self-managing costs more than you think – Your time, legal risks, and stress levels add up. Hiring a professional manager can give you peace of mind and help you scale.

 

 

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Let’s go get that next deal.