SLEEP SOUND PROPERTY MANAGEMENT, INC.

A lot of apartments owners are being fooled into thinking they need an onsite manager when they don’t. ⬆️ That’s a tremendous cost AND opportunity for savings 💰. No, I am not advocating for slashing 🔪 costs at the expense of the resident experience, that would be stupid. You can have both. If you’re hiring a professional property management company one of the benefits of doing so is access to scale 📈. With scale a lot of onsite duties can be decentralized which will eliminate or reduce dedicated payroll. That means your 40, 50, even 100 unit building could operate without a full time onsite. $30,000 in savings at a 5 cap is $600,000 in added value. #propertymanagement #landlording #multifamily #realestateinvesting

📖 When I was a sophomore in High School I read one sentence that changed my life forever. It said; "There is no such thing as failure, only results". 💡 For the first time in my life I realized that a test score didn't determine how intelligent I was, or a goal that I set, but missed, wasn't an indictment of my capability, it was just a RESULT. ☀️ The beauty about results is that you can change the result by running the process again, and again, and again. 🧠 Once I internalized that dedication, time on task, and focus were the source of success, it freed me to take risk without fear or anxiety around the uncertainty. ✏️ This one phrase has served me well in life and in business, including in our day to day operations. 🏏 Get out there and swing for the fences. If you don't get the result you want. DO IT AGAIN. #propertymanagement #investing #mindset #leadership #success #results #realestateinvesting

This phrase is an old adage, but still remains true if you’re a real estate investor. “You have to spend money to make money 💰 “. It’s shocking how many investors forget this axiom and fight with their building operator about regular expenses 🤯. Yes, you have to be conscientious of cost, and you want your operator (GP or PM) to think about IRR, but don’t forget how EXPENSIVE vacancy 🏠 is. Don’t skimp when you need to properly turn a unit. Invest in the asset. Not only will it fill faster and achieve higher rents, you will attract a BETTER tenant ⭐️. All 3 drive NOI 📈. #propertymanagment #multifamily #syndication #assetmanagement #realestateinvesting

A lot of real estate investors make this MISTAKE when hiring a property management company. Because they often lack the ability to properly evaluate property management companies, they default to looking at 💰 FEES. PMC operations are complex so it should be approached like hiring an EMPLOYEE. You 🚫 don’t pick your employees based on who will take the LOWEST salary, do you 🤷♂️? ✅ Ask about their history. ✅ Ask about their accomplishments. ✅ Ask them situational questions. ✅ Ask them about their vision for the asset. #propertymanagement #assetmanagement #multifamily #realestateinvesting #duediligence

The scariest word in landlording is MOLD. That’s why we say; “Microbial growth”🦠. IYKYK #propertymanagement #landlording #realestateinvesting #assetmanagement #multifamily #mold #remediation

💭 #Regulations: Good or bad for PM business? Nicholas Cook, CPM, President of SLEEP SOUND PROPERTY MANAGEMENT, INC. chats with Jordan Muela about his wild journey through shifting regulations and the chaos of rebuilding after COVID, following an 80% turnover(yet coming out on top)! 🌱 💪 🎙️ Check out the full episode on the Profitable Property Management Podcast on YouTube. Link in comments. #PropertyManagement #Portland #realestate #regulations