Real Investor Radio

Episode 60 – Navigating Property Management, SBA Loans, and Tech-Driven Investing with David Moses

September 3, 2024

Episode Summary:

In this episode, Craig Fuhr and Jack BeVier interview David Moses, a real estate investor and property manager. David shares his journey in the real estate business, including his experience during the Great Recession. He discusses the various businesses he operates, including property management, community management, direct-to-seller marketing, and construction and maintenance. David also talks about the benefits of using SBA loans to acquire businesses and the importance of having a strong tech stack in property management. In this conversation, Craig Fuhr and Jack BeVier discuss various topics related to property management and real estate investing. They touch on the importance of collecting data to better understand tenants and make informed decisions. The benefits of working with housing choice voucher tenants and the challenges of predicting tenant behavior is also discussed. They share insights on using technology to improve property management efficiency and the importance of focusing on operations and being a better operator than the competition. Lead generation strategies and the cost of acquiring customers are discussed. Overall, the conversation provides valuable insights for real estate investors and property managers.

Overview of Episode 60

In the podcast episode, David Moses discusses effective property management strategies. He emphasizes the importance of analyzing lost deals. When a deal falls through, he recommends conducting a post-mortem analysis. This approach allows for identifying potential issues, such as underperforming lead providers.

Utilizing Lead Providers Effectively

David notes that his team interacts regularly with local wholesalers. They host meetups to foster relationships and share insights on property management. Consequently, they can pool resources for mutual benefits. By collaborating with wholesalers, they enhance their deal flow. They also investigate where leads originated to pinpoint underperforming providers.

Strategies for Tracking Leads and Deals

David emphasizes the need for meticulous tracking of leads from start to finish. He explains that they record every detail about incoming leads. This effort aims to ensure accountability and efficiency in property management. Since implementing this system, they have seen a significant increase in leads.

The Power of Retargeting in Property Management

David highlights the effectiveness of retargeting leads. When potential sellers search for quick home sales, they often consider multiple options. Retargeting ads remind these individuals of their services. As a result, this strategy significantly boosts conversion rates.

Exploring PPL Providers for Lead Generation

Jack BeVier raises concerns about trusting PPL (Pay-Per-Lead) providers. David reassures him that focusing on conversion rates is paramount. Understanding how providers resell leads is less critical than knowing their effectiveness.

Cost per Lead in Property Management

David reveals that they have recently started using PPLs. Thus far, they estimate the average cost per lead is between $150 to $175. However, this figure may vary significantly depending on the market.

Leveraging Technology for Deal Acquisition

David shares their use of technology to identify potential deals. They utilize tools like Privy and Investor Lift to analyze listings. This data-driven approach aids in building relationships with wholesalers. As a result, they can negotiate better prices and close deals more effectively.

Building Trust with Wholesalers

David underscores the importance of trust in real estate transactions. By establishing rapport with wholesalers, they become the preferred buyers for properties. This trust allows for smoother negotiations and enhances property management efforts.

Conclusion: Insights on Property Management Strategies

In conclusion, the podcast provides valuable insights into effective property management practices. By leveraging technology, understanding lead dynamics, and fostering relationships, real estate investors can optimize their operations. David encourages collaboration and communication in the industry to drive success.