Coaching Call Episode - Three Keys to Effective Property Management

Today’s episode is another coaching call with returning guests, Stef and Mike. Join these two young investors as they learn how to manage properties the right way! 

 

Want to start off on the right foot with a new acquisition? The keys to managing property effectively: be professional, start off on the right, and understand the rules of engagement.  

 

Enjoy listening! 

 

What we learned from Terrie Schauer in this episode:

 

- The secrets to transforming non-performing properties into profitable investments. 

- Uncover practical and highly effective strategies tailored for new investors eager to dive into the rental property market.

- Do you need to hire superintendents or janitors for your first property?

- How to set boundaries with your tenants effectively. 

- Rental property owner? Find out how often you need to schedule regular check-ups.

- TAL… a friend or a foe? (... learn how to use it to your advantage)

- When you should hire a property manager. 

 

Notable Words From The Episode:

 

One of the things that I tell people when they start investing is, you're not shopping for you. And I think that's like very important for new investors to keep in mind, and to keep in mind that there are clients for all sorts of different products. - Terrie Schauer 

 

My approach is always just be professional immediately. Even though you only have one unit, you're a professional investor, and you want your tenants to deal with you in a professional way. - Terrie Schauer 

 

Timestamp:

 

[00:00] Podcast intro

[01:20] Terrie explains what non-performing properties are and how you can turn these properties into performing assets. 

[06:20] Terrie’s advice for new investors who want to buy rental properties. 

[07:46] Do you need to hire superintendents or janitors for your first property? 

[13:27] Terrie discusses how you can set your relationship boundaries between the tenants. 

[17:36] As a rental property owner, how often do you need to do regular check-ups? 

[20:31] Terrie shares with us how you can professionally communicate with your tenants in terms of collecting rent. 

[26:01] Terrie gives her expertise on how you should deal with TAL… and how you can use them to your advantage. 

[31:26] Terrie shares her final advice on when you should hire a property manager. 

[33:30] Podcast outro

 

Connect with Us:

 

Facebook Page: https://www.facebook.com/restateinvestorsclub/ 

Email: reic@clubimmobilier.ca 

Terrie Schauer’s LinkedIn: https://www.linkedin.com/in/terrieschauer/ 

Terrie Schauer’s Instagram: https://www.instagram.com/terrieschauer/