Guys... we're back at it again. We're about to release another piece of original research and I could not be more stoked as it generated a TON of actionable insight. Peter Lohmann and I went big, retained a top tier research firm, and have produced a report jam packed with insight about the independent single family property owner and what they want from they property manager partners. We're releasing the data tomorrow at LeadSimple University and you can tune in for free by registering here....
23 days ago • 1 min read
The PAS (Property Accounting Software) market is at an inflection point. A small number of companies control the majority of the market. This control is used to exert leverage. Examples: Restricting customers from accessing their own data via API Charging customers exorbitant fees to access their own data via API Blocking vendors from integrating with their customers Taxing other vendors for the privilege of integrating with them What is the net effect of all of this? Customers have fewer...
4 months ago • 1 min read
How big is the self-managing segment of the SFR market? What would it take for them to hire a property manager? What are their key challenges and biggest fears? I want answers. TLDR: I'm gearing up for a large scale survey of landlords with the perfect partner in crime > Peter Lohmann. I'll have more details to share in the future but for now I have one very important question for you - if you could ask a large population of landlords one question what would it be? Your feedback here means a...
4 months ago • 1 min read
There was a moment where our industry was star struck by the outside capital pouring in to fund VC-Backed property management companies. Now those companies are going under one by one. Yesterday the most well funded player in the category announced it was acquired by RoofStock. Mynd raised over $200M at close to a billion dollar valuation. Their thesis was pure play tech augmented by people: Mynd’s tech product is complemented by “boots on the ground” people in local markets, improving the...
7 months ago • 1 min read
After 7 years I've exited ProfitCoach. Watch the full story. Why did I exit? One word: Focus. Long term concentrated focus on a singular goal at the exclusion of all else. In practice this looks like saying no to fantastic opportunities I both believe in AND want to do. If it's not excruciating to say no to - you're not really focused. "The difference between successful people and really successful people is that really successful people say no to almost everything." – Warren Buffett. Not...
10 months ago • 2 min read
Note: Ready to build your 2024 growth strategy? Come to the All Bound conference this December in Austin, TX. --- Early in my career I viewed neutrality as weakness. The term “fence sitter” comes to mind. Make up your mind… pick a side. I felt safe and strong knowing what team I was on. Fast forward to today and my leadership style looks very different. Why? Because scaling has taught me one thing above all. Neutrality is critical to effective leadership. Neutral means open. Maximally...
about 1 year ago • 2 min read
Ben is a legend in this business. His operational chops are unparalleled. He figured out ops, growth and profitability. And now he is entering the next chapter of his career. Ten years to the day after starting his property management business, he has exited the game through an acquisition to Rhome, the single family arm of Associa. I’ve been through a lot with Ben and this conversation was bittersweet for me. Ben was one of the first customers at LeadSimple. He was the first check in when we...
about 1 year ago • 2 min read
Earlier this week the Wall Street Journal released an article entitled > What’s Worse Than Record High Rent? Record High Rent, Plus Fees "Landlords are hitting tenants with an abundance of fees every month. Many are no more than five or 10 bucks each, but when stacked up they can amount to hundreds of dollars more each year. Some fees, such as those for parking and pets, have been around for years, but many renters now pay up for things they were rarely charged for in the past." "The five...
over 1 year ago • 1 min read
I paused hitting send today. But I have to get this off my chest. I’ve had 30+ conversations with operators about whether they should sell their business. In almost every conversation - people fall into four buckets: Seller motivated by personal situation (health, retirement, divorce) Seller trying to offload a distressed business (few admit this) Seller motivated by a cash payday that lines up with their long term goals Seller motivated by joining a bigger ship #1 is purely personal. #2...
over 1 year ago • 4 min read
