Unlocking Real Estate Investment Success in 2024: Insights from Mind Renovation Nation Hey there, Mind Renovation Nation! It's Nathan Bush here, back with another dose of insight to supercharge your real estate journey. In today's blog, we're diving deep into the heart of real estate investment. We’re not just skimming the surface – we’re going all in, just like we did in our latest podcast episode. So, whether you're a seasoned investor in St. Louis or just dipping your toes in the market, buckle up! We're about to embark on a strategic journey to skyrocket your portfolio in 2024. Setting the Stage for Explosive Growth Reflecting on our trails of investment, it's crucial to look ahead and strategize for the coming year. This is not just about wishful thinking; it's about concrete planning and execution. And that's where Red Maples comes into play, offering top-notch property management that makes your investment journey smoother. The GROWTH Framework: Y...

Embracing Smart Home Technology in Property Management: Trends and Costs In the evolving landscape of property management, integrating smart home technology is becoming increasingly popular. To help you navigate this trend, we've done some research on what these technologies look like and what they cost for investors. Video Intercom Systems One trendy option is the video intercom system. With equipment costs ranging between $200 and $500 and installation fees from $2 to $500, this feature adds both security and modernity to your property. Keypad and Access Controls Another useful addition is keypad and access controls. The equipment for this technology is relatively affordable, costing between $100 and $300, with installation charges again ranging from $2 to $500. Smart Lights and Outlets Smart lights and outlets are an economical way to modernize your property. They can sync with smart home devices like Alexa or smartphone apps. The equipment might cost between $500 and $1,000, wi...

The First Commandment of Property Management: Seek the Truth and Do the Right Thing In the realm of property management, minimizing damage and costs is crucial. But how do we begin this process? The answer lies in a fundamental principle: the quest for truth and commitment to doing the right thing. Understanding the Core Principle Before diving into the technicalities of property management, it's vital to establish a foundational mindset. This mindset revolves around two key elements: Seeking Out the Truth: This involves being proactive in understanding the situation of your property. It means not just accepting things at face value but digging deeper to uncover the reality of what's happening inside your properties. Doing the Right Thing: Once you have a clear understanding, it's about making decisions that are not just profitable but also ethical and responsible. This approach ensures long-term sustainability and a positive reputation in the industry. The Impact on Prope...

Have you ever heard of Silicon Valley? Likely you have. Did you know that Silicon Valley is constantly trying to innovate the real estate industry? Technology continues to push the envelope and transform the direction of the profession every year. In 2020 several marketing trends are revolutionizing the real estate profession and most follow the sociological trends from recent years.”Today, people’s attention spans are short and the way they like to consume content has also changed. This is why content formats like Stories have become popular. They are short, engaging, and addictive in a way that people can spend hours scrolling through one Story after another (N.A, 2019).” The many marketing trends of 2019 continue to evolve into 2020 with technology tools designed to improve the customer’s experience. One-Click: Think Amazon! Amazon knows that people want instant one-click to purchase. In fact, “When we write the history of electronic commerce, the 1-Click patent … allowed Ama...

Y ou have to be a PSYCHO about LEADERSHIP  Getting productivity out of your team is not as challenging as you are thinking. Often times I tell my team leaders that it is first their job to fill in the gaps from poor parenting. While I say this tongue and cheek, I know that most of the staff probably had good parents, the truth is that caring about your staff like you are a parent works well to engage them. Getting your team to be productive requires some planning on your part. You first have to make decisions about what actually moves the needle in production. You must determine what productive looks like.  There was a property management company in St. Louis that was having difficulty getting all the staff on the same page. They were experiencing lots of back biting, they were also experiencing poor results, a low number of leases monthly, poor customer service, and poor collections results. According to Forbes, “ True enthusiasm for a business, its products, a...

Grant Cardone sales trainer, radio host, real estate investor, and business coach is known for his statement, “Price is a myth!” He would be right. Price is a myth but costs are real and a fact. As a leader you are either controlling costs or costs are controlling you. Organizations today are very focused on cutting and controlling expenses, but what they should be focused on is controlling costs. What Does Your Decisions Cost? That is the question that every leader must ask themselves. When you are making decisions, you must consider all the costs. For instance stealing from your company may fill a short term need, but what is the cost to you if you are caught? If you are caught you could lose your job, increase stress in your life, and be arrested. The 4 Steps to a Renovation In the long term there are high costs associated with making bad short term decisions today. Just like your need to conduct renovate your time management plan you may need to undergo a cost renovation....

Explaining and describing your real estate service, with all of your features and benefits defines your skill as a Real Estate Professional. By having a distinct lead generating strategy, selling strategy, and closing strategy a real estate agent can create a sense of urgency within a seller or  buyer. In the real estate business, having the ideal training and coaching to generate real estate sales leads is of the utmost importance. Competition is tough, both offline and online. One of the reasons why it is important to start the business already armed to excel, or be ready to acquire the tactics, resources and skills is to ensure your potential to generate leads soon afterward. Although, generating sales leads from scratch can be a daunting task, it does not have to be that difficult. Even when you have an effective, high tech marketing applications and strategies in position, there is always something else to learn to be able to build and maintain a marketing advantage...

If you are new to leasing there are so many options to generate great leasing leads. Sometimes all it takes is a little creativity. You can start leasing homes even if you do not have any listings. In my previous blogpost, I give some quick pointers if you are new to leasing, you can review the 5 baby steps  HERE . If you are new, you are probably looking for some tools to get your phone ringing off the hook. I previously wrote a post on how to market your leasing business, you can view that post  HERE . If you are looking for more ideas to market, that actually work to generate leads, Facebook, door hangers, and the IDX are the best ways to generate prospects even if you have zero clients. FACEBOOK CALENDAR: Facebook is a booming marketing tool but you must know how to utilize it. There is a lot of misinformation surrounding this platform. To be success it starts with building a business page and providing great Facebook content. Then you MUST build ...

Are you utilizing a team score board? If you are following the Leadership Engagement Process you know the following steps are important to engaging your team?   Step 1 is for every position to know the company mission and the mission of their job. Step 2 is for every position to know their number. Ensuring each team member has a one number they are personally responsible to measure is very important. You should give them one specific goal based on this number.   Step 3 is for every position to know their score. The Leadership Engagement Process utilizes a team scoreboard. This scoreboard is imperative in engaging your team members. Real Estate Managers, Brokers, and Realtor leaders can not effect behavioral changes their staff unless the staff member knows what the target is for every day, week, month, and quarter. Your scoreboard should be broken down into three parts a top, a middle, and a bottom. The top of the scoreboard should be your manager...

If you are following the Leadership Engagement Process then you know that step two is coaching your team members to know their numbers. Step 1 can be found here: How to coach to your mission. In my next post, you will learn how to coach your team members to know their numbers. Knowing your numbers and your team member’s numbers are important to ensuring maximum productivity from everyone. Is every team member 100% engaged in their job? When your team members know their numbers, they are instantly more engaged in their job. In my next post you will learn how to look at each position, employee or contractor, and determine the numbers most important to track. To start the three numbers that report your productivity are your income, expenses, and profit. Every employee should have income they generate, expenses they cost, and profit they create. For every business owner it is important keep track of your income, expenses, and profit, per employee and...