The Key to Maximizing Real Estate Profits_ Mastering Property Management

And I know another thing that you always mention in all your books in the ABCs of real estate investing is that property management is very important Poor property management equals poor profits right And so I wanted you to kind of explain the importance of the property management Well essentially all property management is is taking care of the property in every way So taking care of the people that might be inside of this building you know for the various things that come up from day to day collecting the rent and paying all the expenses That's really all it is And so the property manager's job is to make sure the place is clean and that things are getting rented and all those things And so the owner of the building would hire a company like that or they can do it themselves and basically keep the place full So in our world you know we have a property management company that we have about 300 employees All we do is focus on this these two things How do we keep our expenses low and keep our income high Because we're always trying to grow our NOI So our NOI you know we have a budget for let's say 2017 or 2018 or 2019 The goal is to grow that NOI each year