Peter Lohmann's Mailing List - Issue #73

Welcome readers! I wasn’t planning to write an issue this week with the holidays just around the corner, but there’s just too much going on not to share a few things with you.

Property Management market worth $50 billion by 2030, growing at 9.9%

I stumbled upon this new report by “360iResearch” with the eye-catching headline above. I’ve never heard of 360iResearch before and have no idea about the methodology or accuracy of their findings. If you are familiar with this company or their reports, please get in touch.

Nevertheless, here are a few of the highlights from their summary (these are all direct quotes):

• The Global Property Management Market to grow from USD 24.66 billion in 2022 to USD 52.50 billion by 2030, at a CAGR of 9.90%.

• The property management sector in the Americas, particularly in the United States and Canada showcases a mature market environment with steady demand driven by a diverse real estate portfolio encompassing residential, commercial, and industrial properties

• Based on Ownership, market is studied across In-House and Third Party. The Third Party commanded largest market share of 61.87% in 2022, followed by In-House.

My Interview with Nick Huber (aka SweatyStartup)

Earlier this year I sat down and talked with Nick Huber for over an hour about business and life.

If you’re not familiar with Nick, he’s co-founded 6 companies including RE Cost Seg, RecruitJet, Titan Risk, Blue Key Capital, Tax Credit Hunter, and WebRun Labs. His primary business, Bolt Storage, owns 1.8M sqft of self-storage facilities across 62 locations in 11 states. Nick has published over 400 podcast episodes, 200+ articles, and thousands of tweets. He has over 300k followers on Twitter, where he is well-known for his bold stances on controversial topics.

We went into detail on things like:

• How Nick uses Twitter to raise money for real estate investing

• The systems that Nick uses for property management

• Hiring and using global talent effectively

• How you can increase the value of your real estate

• Cost segregation studies and how they can be used to reduce your income taxes

• Building an audience with the written word

• Thoughts on consultants & entrepreneurship

The interview was originally published on my podcast, Owner Occupied, but has just been uploaded to my YouTube channel where you can watch it for free:

I’ll be uploading a new, video version of my podcast each week to my YouTube channel, so make sure you’re subscribed.

LeadSimple’s First-Ever User Conference

I attended LeadSimple’s first-ever user conference a couple weeks ago in Austin, Texas! It was a fantastic event and I had a blast. The energy was unreal; I’m just now coming down off the high.

Picture a bunch of systems & process property management folks, and the people behind their favorite software, hanging out for 3 days and sharing best practices, tips, tricks, upcoming features, and generally just having a good time. It doesn’t get much better than that if you ask me.

By the way, if you’re not familiar with LeadSimple, don’t be fooled by the name. It’s way more than a Sales CRM. Their main product is actually workflow and automation tools are designed for property management (which integrate directly with Buildium, AppFolio, Propertyware, and RentVine). They also have an amazing shared inbox/ticketing system called Inbox that we use heavily.

Just how much time are we saving in our property management business with LeadSimple? I’m glad you asked; here is a cool “wrapped” style year-end summary they sent me yesterday! Check it out:

Full disclosure: As of late last year, I’m an investor in LeadSimple and also on a long-term consulting engagement with them. So I’m definitely biased! That said, we’ve been happy LeadSimple customers since 2017 at RL Property Management.

An Update On This Newsletter

I like to share some behind-the-scenes info about this newsletter once or twice a year. Here are a few things you may find interesting:

1. I recently purged a bunch of subscribers who had not opened an issue or clicked a link in several months. This took my subscriber count down from about 3,800 to 3,400. However, I’ve already gained back all that ground and then some; as of today you’re counted alongside 3,904 weekly subscribers.

2. Open rates and click-through rates for this newsletter (a measure of engagement and interest) are extremely high, averaging 65% and 11% respectively after the aforementioned list-cleaning.

3. As mentioned at the top, sponsorships are available for Q1 and Q2 of next year. Please get in touch.

4. I’m investing heavily in growing the readership and creating even better content for you in 2024. I’m currently running several paid campaigns to let property management company owners know about this publication and encourage them to subscribe. In addition, I’ve recently started working with a small team of freelancers and contractors to help out with various parts of the newsletter, including content.

5. I ran a poll several weeks back to get a sense of how many readers are NARPM members. It received 143 votes, and of those, only 66% indicated they were NARPM members.

6. Writing to you each week is one of my favorite things to do!

Industry News & Events

• My friend Brian just launched TeamWiki - a very cool “done-for-you” company wiki/knowledgebase service powered by Notion. Check it out if you know you need your company policies & processes documented, but don’t have time to do it yourself. Use code PETERLOHMANN for 20% off your first month.

• The NARPM Capitol Summit (Feb 13-15th) is open for registration.

• PM Systems Conference - January! I’m speaking. This is a great alternative if you didn’t snag a ticket to the LeadSimple conference. Use code “Peterrocks” for $100 off. Less than 30 tickets remaining.

Closing Thought

- - -

That’s all for this week; Happy Holidays! -Peter

Did someone forward you this email? Subscribe here.