DGS 251: How to Connect With Agents and Investors to Get More Deals
Description
As a property manager, you are likely always looking for better ways to connect with real estate agents and investors to get more deals.
In today’s episode of the #DoorGrowShow, property management growth expert, Jason Hull sits down with DoorGrow client Galo Naranjo to talk about DoorGrow’s ROI Calculator tool and how it helps you talk to investors and agents.
You’ll Learn
[06:46 ] What is the ROI Calculator?
[14:11 ] The power of being able to see the outcome
[25:35 ] How does this benefit realtors?
[30:31 ] Benefits to using this tool
[35:44 ] Other ways to use the calculator for growth
Tweetables
“Sales take place at the speed of trust.”
“People only can trust you if they know that you have their best interests at heart.”
“You should be an advisor to investors. This is really where you set yourself head and shoulders above the competition.”
“If you want to target investors, go where investors hang out.”
Resources
Transcript
[00:00:00 ] Galo: I think paying for the calculator, I get 10x the rate of return on what I'm paying monthly to use the calculator. It's a no brainer for me to use it because 10 minutes of my time is worth however many deals I'm getting out of it. So it's great.
[00:00:16 ] Jason: All right. Welcome DoorGrow Property Managers to the DoorGrow Show. If you are a property management entrepreneur that wants to add doors, make a difference, increase revenue, help others, impact lives, and you are interested in growing in business and life, and you are open to doing things a bit differently, then you are a DoorGrow property manager.
[00:00:36 ] DoorGrow property managers love the opportunities, daily variety, unique challenges, and freedom that property management brings. Many in real estate think you're crazy for doing it. You think they're crazy for not, because you realize that property management is the ultimate, high trust gateway to real estate deals, relationships, and residual income.
[00:00:54 ] At DoorGrow, we are on a mission to transform property management business owners and their businesses. We want to transform the industry, eliminate the BS, build awareness, change perception, expand the market, and help the best property management entrepreneurs win. I'm your host, property management growth expert, Jason Hull, the founder and CEO of DoorGrow.
[00:01:12 ] Now let's get into the show.
[00:01:15 ] And today I'm hanging out with one of our clients, Galo Naranjo. Did I say your last name? Right?
[00:01:21 ] You got it right.
[00:01:22 ] All right. Awesome. And what's the name of your property management business?
[00:01:25 ] Galo: A property management business is Assurance Property Management. We're here in Columbia, South Carolina.
[00:01:30 ] Jason: So Galo appreciate you coming on the show. So you're doing some really cool things with the ROI calculator that we've built out for clients. And we wanted to showcase that. But before we get into that, why don't you give everyone a little bit of background? How did you get into real estate property management?
[00:01:48 ] How did all this start for you?
[00:01:50 ] Galo: Absolutely. So I was in the military. Actually, I just retired about four years ago And as I was in the process of retiring from the military, my background is in finance. I was a finance office, so I have a great affinity for numbers. I like numbers I managed large budgets when I was a resource manager in the army as an officer. And I had one of the folks that was my neighbor, who was a major guard.
[00:02:11 ] We used to ride almost 45 minutes to work. And he was in the process of moving to Tennessee. And he was like, " I think I really want to rent my property. Do you think you can help me out? Just, keeping an eye on it, and I give you a hundred dollars a month?" And I said, "sure, that doesn't seem like a bad deal."
[00:02:28 ] So, sure enough, he left. He will write some leases, he will place tenants, I will show the place. Every once in a while, we had to do some maintenance, and he will literally every month give me $100. And I said, "this is not a bad deal." So I started doing a little bit of research, and I found out what I needed to do to become a licensed property manager.
[00:02:46 ] I said, "I'm just going to do it and see what happens." And then from that point forward, I just started telling all of my fellow military folks there at the bases where I was at. Most of them, normally in the military, you expect it to be at a place for like two to three years, sometimes sooner than that.
[00:03:01 ] And then they'll PCS. So it was my job at that point to tell them that they can leave the properties with me, and I will keep an eye on them.
[00:03:09 ] Jason: What does PCS stand for?
[00:03:11 ] Galo: PCS stands for Permanent Change of Station. That is when you move from one location to another. In military terms, they call it PCS, Permanent Change of Station.
[00:03:20 ] So most of the time, they're transitioning period from one location to the next. And I started doing a lot of research on a lot of the benefits, especially here in the state of South Carolina, for military service members to keep properties, especially when it comes to property taxes. And so, as I started pretty much gathering my clientele, I went from 1 to then to 10 to 15, not really doing much.
[00:03:44 ] But I started getting that extra income and I said, "well, this is not a bad gig." At that point it was easy for me to do it by myself, although that I didn't really have all of the systems in place, but 15 properties wasn't really much that I needed to do. And as I was delving into real estate. My time for transitioning out of the military, I was close to my 20 years and I started looking into real estate just to see if that was something that I may want to do. And so I started listening to all the podcasts, reading all of the books. And then I said, you know what, this is something that I want to do.
[00:04:15 ] And with our business partner, we started to analyzing deals to basically do flips. So we started flipping back in 2018, 2019. And from that point, since we were very analytical and very driven by numbers, we started just acquiring properties and flipping properties. And we do so very successfully without losing any money on any of our deals.
[00:04:36 ] And that was also at the peak of COVID and everything else. So we were doing very well during that period of time. And so when I retired from the military, I just basically transitioned directly into doing real estate. And as I was positioning myself with other real estate investors here in Columbia, people started to get to know me and all I'm a true believer that I like to tell everybody what I do and what I know and little by little started just placing fillers that, "Hey, I'm a property manager in charge. I have a license. If you have some properties that maybe you want me to take a look at, I'm also a real estate investor. I understand numbers. I understand what you're going through as an investor, what you should be looking for in a property manager."
[00:05:19 ] And then the conversations basically started producing some fruit and therefore started getting more properties under management.
[00:05:27 ] Jason: Yeah. I love it. It sounds like a really good pitch. You're, you come from a military background, finance background, investment background. There's a lot of reasons I think people would trust you to be their property manager.
[00:05:38 ] Galo: And one thing led into another. And little by little, just through word of mouth from one investor to the next. That has been my niche. My niche has been 100 percent investor because investors tend to trust other investors, especially when you have conversations and that they know what they're talking about.
[00:05:55 ] And a lot of times they will run things by me. "What do you think? How much do you think I can get in rent or what do you think this and that?" So I will we'll do those favors here and there a little by little they'll start to giving me their property so I can manage them and lo and behold I started shifting my focus from the flipping business into kind of growing the property management business to what it is now.
[00:06:15 ] And I think ever since I started DoorGrow and a little before, I saw exponential growth implementing a lot of the things that I've learned. And also I think in my opinion the ROI calculator is a key to the success, to my success in adding doors as of late. 100%.
[00:06:32 ] Jason: Well, you like the numbers, you like finance, so it's no surprise. John Chin who helped me develop that ROI calculator also loves numbers and it's no surprise that you would resonate with it and find it really u
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