What does it take to become a successful property manager? How do we find and hire the right one? And by “right,” I mean how do we find the manager that will be best suited to take care of our needs?
Dustin Miles, President of Cowtown Cap, Founder of School of Income, and the Managing Partner of Momentum Multifamily, was caught by surprise when his main connection retired. He was also unable to meet his desired growth rate. What steps did Dustin take to overcome these challenges?
Let’s jump into Dustin’s story and get expert advice on how we can hire the perfect property managers.
[00:01 - 07:00] Opening Segment
- How to get in contact with Dustin
- Dustin talks about his career background and journey in real estate
- Dustin talks about personal life
- He loves hiking and running and living a very active lifestyle
- If there is anything you want to do in life, either you hire a coach or partner up with someone who has already done it
- Figure out your map and get the right people to help you to reach it
[07:01 - 14:44] Where's The Manager?
- Dustin talks about a tough time he faced on a deal
- Involving a management company that specializes in the secondary market
- By the time the deal closed, his main connection decided to retire
- He has to make a pivot
- Making the switch
[14:45 - 17:24] The Switch of the Process
- Dustin talks about the change he made in the process of hiring a property manager
- If you are interested in getting into multifamily or scaling your current business;
- hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!
- Dustin talks about another deal he has in Oklahoma city
- Hiring a management company in Dallas that he knew very well
- They don’t have any vendors and resources in Oklahoma city
[17:25 - 20:20] Closing Segment
- What are your words of wisdom for our listeners?
- “It would help a lot if your management company has a presence there, has been there for a while, and knows the market in the area .”
- Dustin talks about markets that are difficult to break into
- Huston compared to other texas cities
- Make sure to get a management company that has resources and sub-contractors that knows the market in the area
- Different sub-markets could change very quickly
- Final words from me
Tweetable Quotes:
“It would help a lot if your management company has a presence there, or has been there for a while, and knows the market in the area.” - Dustin Miles
“ If there is anything you want to do in life, either you hire a coach or partner up with someone who has already done it.” - Dustin Miles
“Figure out your map and get the right people to help you to reach it.” - Dustin Miles
You can connect with Dustin on LinkedIn, Facebook, and you can also visit the website or email him at dustin@momentummultifamily.com
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