Peter Lohmann's Newsletter - Issue #102

Watch the PM Maintenance Workshop Recording

Trying to start or optimize the maintenance division in your property management business?

A few weeks ago I mentioned my property management company co-founder Adam Rich. He’s a licensed Professional Engineer (P.E.), and single-handedly built our maintenance division. Last year, that side of our business did around 900k in revenue (almost 40% of our total revenue).

I finally talked him into sharing more about how he built it, and we cohosted a live 70-minute workshop last week to go into detail on exactly how he did this. We had over 450 registrants and 150+ live attendees! Below you can see us discussing the costs that go into setting your hourly billing rate:

The recording is available here if you didn’t catch it live!

P.S. Adam recorded an entire series of videos on this topic and is making them available, along with setup checklists, operations calculators, our large maintenance notion buildout, our hiring templates, and our checklists. Get the full package here. Pre-sale pricing ends August 7th.

THIS ISSUE IS PRESENTED BY PROPERTY MELD

Time is Running Out to be Part of the Industry's Most Anticipated Event.

Get ready for a second-to-none experience at the 2024 MX Summit, September 18-20, presented by Property Meld and EZ Repair Hotline! It's not just another conference—it is three days of collaboration, learning, and expert knowledge sharing, all dedicated to optimizing and improving property maintenance processes. 

Brace yourself for a lineup of industry titans sharing their wisdom, hard-hitting topics tackling the toughest maintenance challenges, and unparalleled networking opportunities with fellow trailblazers. We have sessions for EVERYONE, so bring the whole team. 

Not only will you gain exceptional knowledge regarding maintenance best practices, but you'll also be inspired. This year's keynote speaker, David Meltzer, is one of the world's top entrepreneurs, investors, and business coaches. He will empower you to make the right calls in your business and your life. 

Use code: Lohmann_25 for an exclusive 25% discount.

[Note: I’m paying to send two of my team members to this conference. It’s a great event! -Peter]

New Podcast Episode: Live from Broker/Owner!

At the last NARPM Broker/Owner event, I was joined onstage by the wonderful Tracy Streich to discuss how he grew his large portfolio of owned rental properties, and why it’s so important for property managers to focus on this (not just running their 3rd party PM business).

Catch this special live episode on YouTube below, or in your favorite podcast player. Just search “Peter Lohmann’s Podcast.” New episodes every Wednesday.

New Property Management Companies For Sale This Week

• Here’s a property management company for sale in Denver County, CO (64 doors, asking $300k).

• Here’s a property management company for sale in Polk County, FL (90+ homes, asking $950k).

• Here’s a property management company + travel agency(?) for sale in Myrtle Beach, SC (asking 1.5M).

• Here’s a property management company for sale in Los Angeles County, CA (99 doors, asking $425k).

STR + HOA:

• Here’s a STR property management company for sale in San Bernardino, CA (asking 550k).

• Here’s an HOA management company for sale in Miami, FL (asking 900k).

• Here’s a STR property management company for sale in Sarasota County, FL (34 properties, asking $625k).

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

Other:

• I don’t know what this is. It’s listed as a “Property Management Lead Gen Business.” Asking 1.6M

• Here’s a commercial PM company in Fairfield County, CT selling an equity stake. Currently at 250 commercial units.

Industry News and Events

• LeadSimple is launching a new Dashboard feature to visualize team productivity, process performance & more. Register here for the launch event on Aug 1st.

• Evernest has a great webinar series going. The next one is Aug 8th, titled “The Four Stages of Company Growth.” More info here.

• Rob Hahn writes a great newsletter covering NAR, real estate & related topics. His latest issue on the topic of immigration was very thought-provoking.

• RE Cost Seg just launched a new Cost Segregation Calculator that seems quite useful. It can estimate your tax savings by doing a cost seg + accelerated deprecation.

Closing Thought

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Stats from last week’s issue:

Valid Recipients: 10,936 subscribers

Open Rate: 59.3%

Clickthrough Rate: 7.8%

Most Popular Link (253 clicks): The Effective Manager Book on Amazon

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That’s all for this week! Have a great weekend. -Peter

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.