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Jonathan Cook and Bryan Jenkins explore successful strategies and pitfalls of investing in Real Estate. Bryan Jenkins is a Master Property Manager and the Principle Broker of AHI Properties which has offices in Birmingham, Huntsville, Mobile, and Montgomery AL and Oklahoma City, OK. With Expert Guests we cover all the ins and outs, associated with growing your wealth with Real Estate.
Episodes
Tuesday Jan 28, 2020
Episode 13: Virtual Assistants
Tuesday Jan 28, 2020
Tuesday Jan 28, 2020
In episode 13 of the Profitable Powerhouse Properties Podcast, your hosts Jonathan Cook and Bryan Jenkins interview David Lightfritz of Atlantic Properties Inc. and Kelly Allred of Global Strategic Business Process Solutions. David and Kelly discuss new technologies and services in the property management world, how they use virtual assistants to increase efficiency, and more.
Episode Highlights:
- What are David’s and Kelly’s backgrounds?
- Virtual assistants can span any industry.
- David makes sure to have a weekly check-in call with his virtual assistants and to call them by the title of the role they’re fulfilling rather than calling them a VA.
- For property managers, a VA helps offload administrative tasks so they can focus more on the investors and clients.
- Technology now allows people to buy properties without ever being there in person.
- Tenants only care about your office technology insofar as it affects their experience, like ability to pay rent online.
- David and Kelly discuss new technologies and services like HelloRented that allow property managers to cut down on the time properties are on the market and not making money.
- What are the benefits to getting tenants into a rental property more quickly?
3 Key Points:
- It’s important to integrate your VA’s with the rest of your team and workflow.
- An Assistant Property Manager should be trained on basic questions that tenants may have, like how to fix an overflowing toilet, so that tenants don’t have to wait.
- Technology can allow your tenants to have a greater ease of experience and for property managers to have a greater return on investment.
Tweetable Quotes:
- “We start that with a new client, we ask for their if-then’s. Most clients know their immediate if-then’s, and we develop those if-then’s as we move along with them… You know, where do we go if this happens?”
- “It’s definitely is more than just your FICO score that makes a difference.”
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group online or call them at (205) 616-1107
- Buy, sell, and own investment properties the way the pros do it with www.roofstock.com
- Email Jonathan and Bryan at Podcast@AHIProperties.com
- https://www.hellorented.com/
- David Lightfritz
- Phone: 678-640-1768
- Email: David@kurznergroup.com
- Kelly Allred
- Phone: 336-263-8434
- Email: Kelly.Allred@globalstrategic.com
Thursday Aug 08, 2019
Episode 12: Pet Screening with John Bradford
Thursday Aug 08, 2019
Thursday Aug 08, 2019
In episode 12 of the Profitable Powerhouse Properties Podcast, your hosts Jonathan Cook and Bryan Jenkins interview John Bradford, CEO and Founder of PetScreening.com and the Owner and Founder of Park Avenue Properties LLC. John Bradford discusses how he created PetScreening, the various value that the service provides, and how it has been able to expand.
Episode Highlights:
- John Bradford shares his background and his career path.
- What makes the real estate industry such a really friendly industry?
- How did the idea for PetScreening.com come about?
- What is the importance of making sure pets are registered and allowable in a property?
- What makes PetScreening.com distinctive?
- John Bradford discusses how PetScreening.com monetizes its service.
- What are the benefits of PetScreening.com?
- How do property owners who are going to self-manage use PetScreening.com?
- There is no need for pet restrictions and breed restrictions.
- People who maintain their breed restrictions tend to have a higher number of animal requests.
- What are the top breeds?
- How many households tend to have pets?
- John Bradford discusses HUD in their role of protecting the public.
3 Key Points:
- Make sure your property manager is a member of NARPM (National Association of Residential Property Managers).
- PetScreening.com has the first national database of incident reporting. You can report pet damage, pet biting, repeat poop offenders and off-leash offenders.
- You can create different community landing pages with your PetScreening.com service.
Tweetable Quotes:
- “There are 46 million rental assets in the US, and of those 46 million, about 11 million fall under what we call single-family residential. So those are houses, condominiums, townhomes.” – John Bradford
- “We are approaching 1 million rental assets across the country that have self-registered with our service. They have come of our website and signed up. We have a team of about 11 people.” – John Bradford
- “The ‘no-pet profile’ is free to everyone. The ‘animal profile’ is free to everyone. The only way PetScreening can even monetize our product, our service, is by charging the pet owners the $20 or $15.” – John Bradford
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group online or call them at (205) 616-1107
- Buy, sell, and own investment properties the way the pros do it with www.roofstock.com
- Email Jonathan and Bryan at Podcast@AHIProperties.com
- John Bradford: Linkedin
- PetScreening.com
- ParkAveProperties.com
Wednesday Jun 12, 2019
Episode 11: Should You Allow Pets in Your Rental Property?
Wednesday Jun 12, 2019
Wednesday Jun 12, 2019
In episode 11 of the Profitable Powerhouse Properties Podcast, your hosts Jonathan Cook and Bryan Jenkins talk about pets in your rental property. Pets are the “pet peeve” of the property managers and landlords, so should you allow your tenants to have them or risk excluding a large percentage of applicants?
Episode Highlights:
- Pets are a huge part of the rental market.
- The main reason you should allow pets is because such a high percentage of applicants have pets.
- You hardly see pet damage with any magnitude, it’s usually small things.
- What types of pets you should charge pet rental fees for.
- The types of fees you can charge renters for pets.
- The most common applicants you will receive will have dogs or cats.
- The risk factors of having dogs or cats - bites, damage, and allergies.
- The worst-case scenario of allowing pets in a rental property.
- The two approaches to dealing with pet damage either a refundable or non-refundable pet fee.
- If you have pet damages that exceed the pet deposit you can tap into the security deposit.
- A non-refundable pet fee can be banked as an income stream.
- Whether you should charge the same fees based on the size of a pet.
- The benefits of pet rent to your cash flow.
- How to go about pet screening and some recommended services.
- Emotional support animals are regulated by HUD and service animals are regulated by ADA.
- You cannot charge any fees, deposits, or other rent for service or emotional support animals, but you can go after the damage.
- Some of the better-qualified applicants are the ones with pets.
- Whatever your strategy is, these pet guidelines apply to your property.
Key Points:
- Pets are a giant part of the rental market and 63% of AHI property applicants have pets.
- You need to be careful about how you structure your pet deposits or refundable and non-refundable pet fees.
- Pet rent is a great way to make more money on your rental property.
Tweetable Quotes:
- “If you don’t allow pets in your rental property you’re excluding ¾ of the rental market.” -Bryan
- “An owner can have as much control over the pet screening process as they’d like.” -Bryan
- “Allowing for pets lets you get a little more than what the market allows for.” -Jonathan
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group online or call them at (205) 616-1107
- Buy, sell, and own investment properties the way the pros do it with www.roofstock.com.
- Recommended pet screening resource petscreening.com.
- Email Jonathan and Bryan at Podcast@AHIProperties.com
Monday Jun 03, 2019
Episode 10: How to Buy the Right Turnkey Property
Monday Jun 03, 2019
Monday Jun 03, 2019
In episode 10 of the Profitable Powerhouse Properties Podcast, your hosts Jonathan Cook and Bryan Jenkins talk to Chris Warren from Portfolio Properties. Chris is a client of AHI Group and talks about how owning rental properties doesn’t have to be a side hustle, you can really make an income buying and renting homes.
Episode Highlights:
- How Chris started with rental properties and why he selected Alabama to purchase his rental properties.
- The process Chris goes through starts with picking the market.
- Why Chris bought houses that were fully rehabbed and top of the market.
- The differences in returns in an outside market versus the market you live in.
- Whenever there’s a range on a home you have to look at the lower number.
- The biggest hurdle selling a tenanted property investor to investor.
- Keeping your tenant comfortable and happy will make them more likely to stay.
- How to cut down on wasted time with applicant approvals.
- You need to be sure that you can stand behind the work of your general contractor.
- How to build a contract when selling a home to a tenant.
- How to make money when there are so many taxes and fees.
- Don’t assume that just because a house is on a turnkey providers website that it’s automatically a good deal.
- Why an independent analysis of the product is extremely important.
- Why it’s so important to find a turnkey provider like Chris when you go to buy.
- How Chris looks at providing a property to somebody.
- Why Chris is so highly selective about the properties he buys.
- The biggest challenge is to find the right houses in the right neighborhoods at the right rate.
- How putting an extra $1,000 into a home can save you a lot of grief in the long run.
Key Points:
- It’s okay to buy a property that’s been turned into a finished product.
- A major benefit of a management company is that you don’t have any applicants who aren’t qualified.
- Be careful with properties that are already tenanted.
Tweetable Quotes:
- “What you know is a very small part of your success, it’s all about who you know.” -Chris
- “The two people who will make you the most money and save you the most money are your property manager and your contractor.” -Chris
- “If a property is not something I’d sell a relative or a close friend, I’m not going to put an offer on it in the first place.” -Chris
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group online or call them at (205) 616-1107
- Email Jonathan and Bryan at Podcast@AHIProperties.com
- Contact Chris at Chris@PortfolioPG.com
Tuesday May 28, 2019
Episode 09: Building a Property Management Team
Tuesday May 28, 2019
Tuesday May 28, 2019
In episode 9 of the Profitable Powerhouse Properties Podcast, your hosts talk about building your team. When it comes to buying your properties, flipping them, or renting them you’re using a lot of energy. You need a good team around you as you buy properties and attempt to make them profitable. Learn what a property management team actually does and why they are more than worth hiring.
Episode Highlights:
- The essential parts of buying a property and making money from it: financing, property management, sales brokerage.
- You should always engage the management firm and know those people before you close on a property.
- When you’re building a team, let it be a team - part of your team will inevitably be your tenant.
- You have to know what your goals are as an investor.
- The best way to go about finding a general contractor.
- A property manager can’t keep a client if they’re treating them poorly.
- Monthly rent can either bring in or deter renters with as little as a $50 monthly difference.
- Accidental landlords commonly think that a management company only collects the rent check and takes the call when something breaks.
- You have to be sure to get the right management team on your side because some will only do the bare minimum.
- What you get for full-service management is 24/7 coverage.
- The vendor network knows when to report suspicious activity including sub-leasing.
- When property owners come in and are excited to learn and get moving, then property managers are happy to help!
- Don’t piece your team together after you’ve already identified a property.
- Each home is its own individual business.
- Don’t show a property without power, water, or gas in it.
- Build a trusted team, use them for what you’ve hired them for, let them be the expert.
- Details about the upcoming property management summit - geared toward property managers, realtors, and brokers.
Key Points:
- You need to know that your property management program has good, sound practices before you close on your property.
- Most people don’t think they can negotiate a rental price so you have to price right the first time.
- When someone has a professional reputation the deals start flowing over to them.
Tweetable Quotes:
- “We’re in it for the long-haul relationship.” -Bryan
- “Negotiation is only possible in an area with too much supply.” -Bryan
- “We’re in the management business to be a partner and help make the property as profitable as possible.” -Bryan
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group
- Start earning passive income with Roofstock.com
- Email Jonathan and Bryan at Podcast@AHIProperties.com
Monday May 20, 2019
Episode 08: Making Appraisals Effective
Monday May 20, 2019
Monday May 20, 2019
In episode 8 of the Profitable Powerhouse Properties Podcast, your hosts are joined by Tom Horn, a real estate appraiser in the Birmingham area. Tom talks about appraisals, how he conducts his business, and what adds the most value to the property.
Episode Highlights:
- Learn about the property management summit AHI is putting on in Birmingham on June 5th, 2019.
- Why appraisal is one of the most important parts of the buying/selling process.
- How to identify comparables that will support or disprove a property value.
- You have to look at what services and initiatives are coming into an area to get a picture of what property in the area is worth.
- The first thing that comes to mind when Tom sees a property that’s fully updated and outfitted.
- How to know what kind of finishes to put in your rental home.
- How Tom collects rental comps and how that differs from sales value.
- Where Tom gets his information for his workflow.
- Whether bathrooms and kitchens are the most valuable upgrades in a property.
- The valuation of a retail flip in a higher rate market.
- How to approach different properties in different ways based on classification.
- Zillow is great at reporting home sale prices, but what’s very inaccurate is the Zestimate.
- Whatever the market holds is the most a home is going to go for.
- Look at your market an know what it holds from a rental and sales standpoint.
- The value of a good property management team and other local partnerships are extremely important.
- Buy in an area that’s under restoration - if you buy in earlier you may stand to reap a greater reward.
- The biggest and most important thing to know is market value - what kind of margins you’re working with and how much you want.
- Know what properties are selling for and know what those properties are.
- One simple thing you can check on your appraisal to be sure it’s valued properly.
Key Points:
- Using comps is not a matter of averaging the top three, there are a lot of factors that go into how a comp supports a property value.
- Don’t have the biggest or most expensive house in the neighborhood.
- Market absorption is vitally important with the greater impact on the sales side.
Tweetable Quotes:
- “It’s not just one or two things an appraiser looks at, it’s a lot of things.” -Tom Horn
- “If someone wants to sell at the top of the market, the house has to look like what’s at the top of the market.
- “Curb appeal has an impact because if two homes are identical the buyer will choose the one with better curb appeal.”
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group
- Start earning passive income with Roofstock.com
- Email Jonathan and Bryan at Podcast@AHIProperties.com
- Get your appraisal questions answered and learn more about Tom Horn at birminghamappraisalblog.com
- Call Tom Horn at 205-243-9304
Monday May 06, 2019
Episode 07: Understanding Scopes of Work on Investment Properties
Monday May 06, 2019
Monday May 06, 2019
In episode 7 of Profitable Powerhouse Podcast, learn how to get your 1% on the investment property you just bought. In episode 6 of Profitable Powerhouse Properties your hosts Jonathan Cook and Bryan Jenkins talk about how the market you choose to buy in affects your property and scope of work.
Episode Highlights:
- Why you might choose to buy a C-class property as your rental investment.
- It’s good to have an area where some of the homes are owner-occupied, especially in a C-class area.
- What it means when a general contractor talks about a package deal.
- How to give your property the “it” factor.
- Every rental market you’re looking at has a bottom and a top and you need to identify the investor ahead of time.
- Some necessary rehab scopes for properties on the bottom of the market.
- AHI recommends that their clients add deadbolts to a property if they don’t already exist.
- Color of the house makes a difference when renting to tenants - you want a consistent color throughout.
- It’s better to spend a little more up front than to have tenants who are upset with the house and how things work.
- The longer you can keep your tenant intact, the more profit you can experience.
- People form their opinions the moment they see the property whether in person or online.
- Adding some landscaping or gardening can up the “it” factor on your property.
- Learn some good choices for finish options and why it makes a difference to have updated finishes.
- How Luxury vinyl tiles look like hardwoods but for a fraction of the price.
- If you’re buying an old door frame with old hinges, pop on some new ones, it’s a minimal expense.
- All the little tweaks you do to you C property could bring it up to a C+.
- If a property already has something that’s kind of custom that’s something you may want to restore or highlight.
- You have to think about if you were buying a home to live in it, what would you be looking for?
- In today’s marketplace, people don’t want to come in and improve.
- Homes that aren’t held to a higher standard are going to get bypassed for the ones that are better and more of a blank slate.
- If a tenant has a great experience they’ll turn into more renewals.
Key Points:
- Buying a C-class property can be very profitable, you need to understand the community and scope of work.
- If the windows on rental are not operable that is a deal breaker for AHI, windows that don’t work are a safety issue.
- When you have a cheap rehab it’s easy to notice and says you didn’t have a plan going into it.
Tweetable Quotes:
- “Every rental market you’re looking at has a bottom and a top, you have to identify the investor on the front-end.” -Bryan
- “It’s our job to mitigate risk and reduce risk for owners.” -Bryan
- “A tenant needs to be able to envision their life in the rental house, and neutrals help accomplish that.” -Bryan
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group
- Start earning passive income with Roofstock.com
- Email Jonathan and Bryan at Podcast@AHIProperties.com
Tuesday Apr 30, 2019
Episode 06: Risk Management with BIG
Tuesday Apr 30, 2019
Tuesday Apr 30, 2019
In episode 6 of Profitable Powerhouse Properties your hosts Jonathan Cook and Bryan Jenkins talk to Richard Davis and Jason Henderson of the Birmingham Insurance Group (BIG). Richard and Jason launched BIG back in July of 2018 and have partnered with AHI. Learn about
Episode Highlights:
- Anyone with an insurance license can send you a policy, but BIG will make a team effort to protect your assets comprehensively.
- BIG can offer coverage in all 50 states, and they have clients internationally.
- You don’t have to use AHI Properties to use BIG for Insurance.
- Why investment coverage is different from standard homeowners insurance.
- When you put a tenant in your property, make sure that they have tenant insurance.
- Many property management companies don’t enforce tenant insurance, but that backfires in many situations.
- Renters policies defend not only the renter but also the owner on behalf.
- The reality is that on C-F grade properties there will be more claims.
- BIG represents multiple carriers depending on the state and the grade of the property.
- It’s possible to do a per-location liability limit with an independent stand-alone limit.
- By separating business from personal, your losses won’t impact the rate on your personal properties.
- BIG insurance policies include loss of rent on properties up to $75,000 a month - this does not include evictions.
- Who needs a flood policy and why - if you’re in a flood zone the lender may require it.
- BIG does a thorough review of your needs or budget to be sure that you’re not insurance poor but you get the coverage you need.
- You could spend thousands of dollars between foundation leaks and sewer backups.
- The difference between preventative maintenance and risk management.
- What valuation is on a property and how it’s determined.
- To estimate your premiums on properties in Alabama - on the low end $85 a square foot, on the high end $125 a square foot.
- Someone new to investment ownership needs to talk to an agent about how much to cover their home for.
- The rubber meets the road when the claim happens, people are stressed, and money’s involved.
- What to look for in your policy:
- Coverage limits
- Deductible structure
- Liability Limits
- The information you gave the agent to rate your property
- Share your current policy information
- The benefits of a master policy format - reporting form or an annual policy.
- There is no exclusion for a vacancy.
- You will only be charged for the properties you have scheduled on your policy.
- Each master policy is a 12-month policy.
- Each policy stands alone and you can add and remove them throughout the year.
- How the insurance company uses the law of large numbers and why it works in your favor.
- Why AHI requires that vendors that do work on the property have certain limits of coverage.
- From a risk management standpoint, we need to make sure that what you’re signing dovetails with what the policy says.
- Insurance, risk management, and property management are a part of preparing for positive cash flow.
- If something is not covered, then it’s not going to hurt your rates so file the claim.
Key Points:
- The difference in an investment program and a homeowners policy is the volume and the amount of coverage you’re getting.
- A benefit of separating your investment properties from your personal properties is that your losses won’t impact your personal rate.
- Preventative maintenance is doing your due diligence and risk management is your plan when something does occur.
Tweetable Quotes:
- “Investment insurance provides another layer of protection for both the tenant and the owner.” -Jason
- “It’s possible to be insurance poor, we want to avoid that happening.” -Jason
- “Know your market, and know where you’re buying - that will help dictate what you need to be insured for.” -Jonathan
- “If it were my rental property, I wouldn’t go below valuing it at below $100 a square foot.” -Richard
- “Diversify your portfolio, but not your insurance.” -Jonathan
- “If something is not covered, it’s not going to hurt your rates.” -Richard
Resources Mentioned:
- Check out our website ahiproperties.com
Check out Birmingham Insurance Group
Monday Apr 22, 2019
Episode 05: Diversifying Your Property Portfolio
Monday Apr 22, 2019
Monday Apr 22, 2019
In this 5th episode of the Profitable Powerhouse Properties with the AHI Group, hosts Jonathan Cook and Bryan Jenkins from the AHI Group discuss the differences between A-Class, B-Class, and C-Class properties, renovations situations, the benefits of HOA, the often-forgotten issues with gutters, and the importance of diversifying your portfolio.
Episode Highlights:
- What is a good general range for C-Class nicely rehabbed properties
- Why are the majority of the properties that AHI Group manages A-Class and B-Class
- What are the differences between B-Class and C-Class properties
- How often is Bryan getting 1% on a B-Class property
- Jonathan and Bryan discuss gutter
- What are some nightmares that can occur with gutter issues
- Which problems are property owners responsible for
- Why are the benefits of owning B-Class and C-Class properties over an A-Class
- What are the long-term gains for a property that appears to be breaking even
- It doesn’t only matter what you invest in a home, it is also about the market pull
- What are the benefits of an HOA
- What is involved in paying HOA dues
- Curb appeal’s value is more than just marketing for your property
- Have good partners and systems in place
3 Key Points:
- C-Class properties in the areas of AHI Group are typically $70,000-100,000
- B-Class properties are the sweet spot for equity gain and monthly cash flow.
- Statistically, maintenance numbers for C-Class are higher than a B-Class, which is higher than an A-Class.
Tweetable Quotes:
- “One of the things that we focus on within our management portfolio is diversifying that.” – Bryan Jenkins
- “What we were doing was we were buying A-Class properties to do lease-backs to corporations and fully furnish those and provide lawn service, chemicals and maid service.”– Bryan Jenkins pppwithahigroup.podbean.com
- “An HOA means you have a governing body in charge of your neighborhood.” – Bryan Jenkins
Resources Mentioned:
- Check out our website ahiproperties.com
- Twitter: @ahiproperties
- Facebook: AHI Properties
- Linkedin: AHI Properties
Monday Apr 15, 2019
Episode 04: Diversifying Portfolios with Deb Newell and Jen Stoops
Monday Apr 15, 2019
Monday Apr 15, 2019
In episode 4 of Profitable Powerhouse Properties your hosts Jonathan Cook and Bryan Jenkins talk to Deb Newell, a property manager who runs Real Time Consulting Services for the rental industry, and Jen Stoops is the Senior VP of Park Avenue Properties. Deb and Jen talk to your hosts about diversifying portfolios and avoiding common pitfalls in the rental property space.
Episode Highlights:
- Pitfall #1: Thinking you can manage your own property without hiring a property manager.
- Pitfall #2: Don’t get locked into one market.
- What NARPM (National Association of Residential Property Managers) is and why it matters.
- Everyone at AHI Properties is a NARPM member who is being educated.
- The pros and cons of going to one city and buying all of your property there.
- You need to have a team behind you and referrals are the best way to do that.
- How to identify a good property manager vs. a rent collector and tips for vetting them.
- Investors look for problem solvers in their property management service.
- The biggest concerns for property owners is tenant selection, maintenance, after-hour calls, etc.
- The cost difference between having a long-term tenant vs. a problem/short-term tenant.
- The type of flooring you should choose for your rental property.
- When property owners are less emotionally invested in a property they’re more likely to consider allowing pets.
- How to make sure you have good policies in place that are relevant to all markets.
- The different types of personalities that work in a property management firm.
- You need to get to know someone in whatever market you’re going to.
- People, Process, and Technology are the three things that are really important for a successful property management firm.
- If you’re investing in a rental property, it’s best to pay someone to make sure its managed properly.
- Anyone who doesn’t choose a property manager because of their fee structure is making a big mistake.
- There are two different operational processes, but they’re all geared toward the same end goal.
- Why referrals are so important and the highest compliment.
Key Points:
- Where you buy your property and how you build your portfolio matters.
- Your property manager should be transparent every step of the way.
- You need to get to know a property manager in whatever market you’re going to.
Tweetable Quotes:
- “A good property manager is going to be willing to meet with you, try to stop by their workspace if possible.” -Bryan
- “When investors are looking to manage different markets themselves they are overlooking the efficiency of property managers.” -Deb
- “People, Process, and Technology are the three things that are really important for a successful property management firm.” -Deb
Resources Mentioned:
- Check out our website ahiproperties.com
- Check out Birmingham Insurance Group