Peter Lohmann's Newsletter - Issue #180

Press the Advantage

My background is electrical engineering, so I tend to work in a pretty methodical and plodding way by default. There's nothing I like more than making 1% improvements steadily over time, and watching them compound.

This turned out to be a really great way to build a property management business. The day-to-day activities are really chaotic, and not getting caught up in that but instead taking a systems-oriented approach allowed us to build a really great business over time. Once the business was up and running, I was pretty slow to adopt new ways of doing things and tended to carefully watch things over time before making a decision or change.

However this is not always the way. There are certain situations and times when the move is to act aggressively and jump into something full force. With a couple of decades in business behind me, I'm starting to get better at identifying when this is appropriate (more on that in a moment). But along the way I missed several opportunities that I regret, for example:

• Not buying more rental homes from 2008-2013

• Not going harder on Twitter when reach and engagement was easy

• Not selling a portion of my PM business when valuations were sky-high

• Not starting a TikTok account when it was growing like wildfire

• Not buying more index funds during the Covid crash

In these cases, I was too slow to act and too conservative in my approach. I should have pressed the advantage that I had. When you find something early or identify an opportunity that others are overlooking, you need to MOVE. You're only going to get a handful of these in your lifetime.

A few clues that you may be on to something early:

• The "more" button actually works. When you find something that works, your first instinct is to just do more of it. Unfortunately that usually stops working very fast. But once in a while it just… keeps working. When that happens, GO. Do 10X.

• Your smartest business friends are telling you repeatedly that this is a great idea, or regularly asking you questions about it.

• You feel nervous to tell other people about it (and not in the "sign an NDA before you I tell you about my startup idea" way.)

• It’s a regular “shower thought”. You keep coming back to the idea/opportunity over and over when showering or zoning out. Can’t stop thinking about it.

• Its just working really, really well with no sign of slowing down. It’s easy and/or fun.

• It sits at the intersection of multiple domains in which you have a high level of experience or deep knowledge. Others would not know about the opportunity or how to exploit it; there’s no way they could unless they had lived your life.

If you’re lucky enough to identify an opportunity like this, GET AFTER IT!!! This is the time to make a carefully-sized but aggressive bet. Don’t risk your life savings or anything, but don’t be shy with your money or time either. This is how fortunes are built. Go get yours.

A deeper dive (rant) about "tapeworm companies”

I mentioned this in a newsletter a few weeks ago. Jon and I went on a full-blown rant about “tapeworm companies” - SaaS tools like Dropbox, Adobe E-Sign, and JotForm that burrow so deep into your operations that leaving feels impossible, even as prices climb. They’re betting you won’t rip them out. And historically? They’ve been right.

In the same episode, we unpack sales “frame control” from Pitch Anything: every deal operates inside an invisible power structure, and if you’re living inside the prospect’s frame, you lose. Frames collide. The stronger one wins. Whether it’s your tech stack or your sales calls, the game is the same.

(Available on Apple Podcasts & Spotify)

Property Management Companies For Sale This Week

• PM company in Bend, OR is still for sale (asking $650k, ~$361k annual revenue).

• 175-unit residential PM portfolio in Washington, DC (asking $375k, 32 properties)

• Here’s an STR property management company in Nashville, TN (asking $1.7M)

• This PM company in Grand County, CO is still available (asking $1.5M)

Sponsored by DoorLoop, PM software built for operators who take growth seriously. Growth exposes weak systems. In this on-demand session, you'll learn how to clean up your operations, improve portfolio visibility, and build processes that actually scale.

Industry News & Events

• HUD just issued a proposed ruling that would significantly tighten Section 8 eligibility requirements.

• LeadSimple just opened up ticket sales for LeadSimple University 2026, coming up in May in Salt Lake City. See you there.

• More news, details & analysis about the ban on large investors buying SF homes—from Jay Parsons.

• Time to buy your NARPM Broker/Owner tickets & get your hotel room booked if you haven’t already. I’ll be on the main stage with a few surprises… and Crane members & partners, don’t forget to RSVP for the Crane Jazz Cruise on Monday. We’ll be at capacity with 100 spots.

Closing Thought

A few quick things before you go…

• Last week’s issue went to 20,879 readers (74.6% opened, 2.9% clicked)

• The most popular link was the podcast episode, Managing 360 Doors with No Employees (Using AI) with Matt Luke. (155 clicks)

• Property managers: Your professional trade association is NARPM. You need to join if you’re not already a member.

• Did someone forward you this email? Subscribe here.

Software I’m using to scale my 700+ door property management company:

Note: These are affiliate links, but I’ve been recommending all these companies long before any financial arrangements came into place.

The content of this newsletter is for informational purposes only and does not constitute professional advice. I may have consulting agreements with, or financial interests in, companies mentioned in this newsletter. Additionally, some of the links included in this newsletter are affiliate links, meaning I may earn a commission if you make a purchase through these links. Always perform your own due diligence before making any financial or business decisions.