08 - How to Make Money with DoorLoop

In this podcast episode, Arturo Ache discusses how to make money with DoorLoop, a property management software. He covers the benefits and challenges of property ownership, tips for making money and saving money, and how software like DoorLoop can help overcome challenges in property management.

Transcript

01;45;05;56 - 01;45;28;14
Speaker 1
What's up, everybody? And welcome back to another episode of Loop. It in the DoorLoop podcast, where we pick the brains of experts in property management, real estate and investing tech. We cover it, marketing that too. So whether you want actionable tips or the insider scoop from top performers in their industries, this is one show you won't want to miss.

01;45;28;39 - 01;45;34;21
Speaker 1
Be sure to subscribe so you won't miss out on any future episode.

01;45;37;51 - 01;45;45;40
Speaker 2
Welcome back everyone to the Lupine podcast. My name is Mohammed Abu Ghosh. I'll be your host today. And I'm today joined with Arturo. Welcome, Arturo.

01;45;46;00 - 01;45;47;55
Speaker 3
Thank you. Thank you so much. Happy to be here.

01;45;48;13 - 01;46;06;43
Speaker 2
Awesome. So Arturo is going to tell us today about how you can make money. You can save money with all that. Arturo is an expert in this exact subject. He's an account executive. He's a salesperson with years of experience. And I can't think of anyone better who could tell us about today's topic. Arturo, why don't you start by introducing yourself to the audience?

01;46;07;05 - 01;46;21;09
Speaker 3
Sure. My name is Arturo. And and like Muhammed said before, I am actually an account executive here in DoorLoop. My job is basically to help people understand and educate them how software can make your life easier and also earn that extra cash.

01;46;21;55 - 01;46;28;56
Speaker 2
Awesome. It sounds great. So yeah. What do you do exactly? Ideally, what what does the day look like there?

01;46;28;59 - 01;46;51;15
Speaker 3
Well, my day is full of meetings. Okay? And this meeting's basically talking to property managers, sometimes landlords that they want to manage their own properties. And basically what I do is to educate them what the software does and how can it help them pretty much manage the business more efficiently, take less time on those tedious activities and basically just make more money.

01;46;52;15 - 01;46;54;51
Speaker 2
All right. And how did you get into this field in the first place?

01;46;55;36 - 01;47;15;13
Speaker 3
Well, my first experience in sales was doing door to door. It was a great experience. Yeah, I had to. I was working for AT&T. Right. And I was pretty much helping people get better Internet, get a better TV services and stuff like that. It was my first time in the cells in this area. Learn a lot in that.

01;47;16;08 - 01;47;16;26
Speaker 3
Yeah.

01;47;16;57 - 01;47;21;46
Speaker 2
It sounds brutal, right? A lot of rejection. You're just knocking on doors. Oh, yeah, it was. It was only here for me.

01;47;21;46 - 01;47;39;22
Speaker 3
Or sometimes a great experience. I mean, at the end of the day, it was a very tough ride, but that's what actually taught me how to handle rejection. I love that You actually mentioned that. There's one of the biggest things in sales, one of the basic things. So, yeah, you got to you got to learn how to how to maintain your focus after you've been rejected a couple of times.

01;47;39;38 - 01;47;44;17
Speaker 3
And it's only all the basics and if I had to start all over again from the beginning, I would do it again.

01;47;45;00 - 01;47;59;03
Speaker 2
Very interesting. Yeah, I've heard of a lot of successful salespeople that started out in that exact way. Right. And going from door to door. That's really interesting. Yeah. I think now we can get into today's topic. So how exactly can property managers make money with all this?

01;47;59;57 - 01;48;14;10
Speaker 3
Well, it comes down to a couple of things, right? The first thing is actually by allocating your time on activities that actually make you money in trying to automate those. That does. Okay.

01;48;14;12 - 01;48;14;41
Speaker 2
Right.

01;48;15;08 - 01;48;23;40
Speaker 3
So that's mainly what the software does. But then there are also ways of actually generating actual revenue. Okay. From having software.

01;48;24;05 - 01;48;36;15
Speaker 2
Okay. So one way is to save money of the other ways to actually it can help you make more money, right. Ah, And I think before we were talking about something called moneymaking activities and you have a few examples of what that is exactly.

01;48;36;39 - 01;48;59;27
Speaker 3
Moneymaking activities is basically finding new business like finding new people for your property management business. Who wants to give you their properties for you to manage? That is a moneymaking activity. Another moneymaking activity, in my opinion, is You start getting applicants and filling all those vacancies. That's another thing that you should focus time on. Those are learning. Things start making you rather.

01;48;59;42 - 01;49;03;57
Speaker 2
Right. And a lot of people are focusing on other types of activities that are just repetitive.

01;49;03;57 - 01;49;19;43
Speaker 3
Like is ugly. Exactly. Like they're focusing on the admin side, which is pretty much doing a lot of paperwork, check analysis, paying rent, and those typical things that take a lot of the property managers time. And in reality, it's not very productive.

01;49;19;43 - 01;49;25;19
Speaker 2
Right? And you're saying you can automate that, but then can you trust that to be automated 100%?

01;49;25;25 - 01;49;33;21
Speaker 3
Yeah, it's 100% accurate. It saves you up of time. And it's it's it's like a computer, you know, this basic math.

01;49;34;19 - 01;49;44;36
Speaker 2
Awesome. Okay. All right. And let's see what my next question is. How do property managers operate their businesses if they don't have a property management software to help them out of it?

01;49;45;13 - 01;49;54;46
Speaker 3
Well, I have come across with a lot of people like this, right, that they're managing their properties basically with a huge file cabinet with the bunch of folders.

01;49;54;48 - 01;49;56;22
Speaker 2
If you've got some great stories there, I.

01;49;56;22 - 01;50;19;37
Speaker 3
Had plenty of great stories. People are going on doors to get a check for rent on. It's it's just, you know, people are afraid of change. It's normal, right mom. It's basically the nature of being a human. Like sometimes you have a way of doing things. It's been working. Might not be the best way of doing, but that's the way I'm doing it.

01;50;19;38 - 01;50;22;07
Speaker 3
I'm not I'm not going to change it because it's work. Right.

01;50;22;07 - 01;50;26;31
Speaker 2
Because you trust yourself to do it. Right? Right. And trying another method seems risky.

01;50;26;33 - 01;50;38;11
Speaker 3
Effort seems risky. Yeah. At the end of the day, they have some money on the line. So I understand the concern. However, putting yourself outside your comfort zone, it might take you to bigger things.

01;50;38;11 - 01;50;42;59
Speaker 2
Right? Well, I'd love to hear one of those crazy stories that you mentioned of people that are just kind of on their own.

01;50;43;16 - 01;51;15;44
Speaker 3
Sorry. So sure, I have one. I had a client from Arkansas. Right. And he would have an apartment complex that he was managing. It was about 50 units. If my memory is right. Yeah, it was actually a pretty decent sized property management business, and he would have to go and drive to the property, which was about 45 to 55 minutes driving just to collect the checks from each one of the 55 units.

01;51;16;15 - 01;51;36;20
Speaker 3
So imagine that having a building and having to go from top to bottom collecting rent. Maybe someone was not there, maybe someone was working. He told me it was a complete mess. Well, he was just very, very afraid of changing his method because he's been in that business for, let's say, 5 to 10 years. I think that's why he told me back in the day.

01;51;36;20 - 01;51;51;06
Speaker 3
So it was it was a it was a great way of helping him. And once we did it and once we actually set him up with the software is still thanks to me to this day, still, you know, since the emails, Hey, I've told you this is working. Amazing. Thank you so much. I can't believe how much time I'm saving.

01;51;51;31 - 01;51;52;56
Speaker 3
And you know, that's just a great example.

01;51;53;18 - 01;52;03;42
Speaker 2
Ah, yeah. So that's crazy. Like, he has all this free time back now, which before he would go door to door and if someone wasn't home, like what? What would happen? Would you have to wait around? When you come back another day, you.

01;52;03;42 - 01;52;30;16
Speaker 3
Would have to come back another day and knock on those doors. That did not answer. So just imagine that business method that he's using right now and the funny part about this whole story is how hop like he really believed that he was doing the like he was running the business the most efficient way. Like it was not the type of customer that you just show him the software.

01;52;30;17 - 01;52;36;51
Speaker 3
He was convinced from the moment you showed. It took a long time for him to realize what technology can do.

01;52;37;46 - 01;52;38;55
Speaker 2
How does he collect rent now?

01;52;39;29 - 01;52;57;16
Speaker 3
Oh, right now is collecting rent because they're all all his tenants are are able to log in with their user and password into an mobile app in their phone and they're able to make payments through there. And he just very calmly checks his statements on. The software to see who paid did nothing.

01;52;57;46 - 01;52;59;55
Speaker 2
No more driving 50 miles, no.

01;52;59;55 - 01;53;05;18
Speaker 3
More driving, no more door knocking. It's it's it's a whole different game.

01;53;05;18 - 01;53;12;21
Speaker 2
It's amazing. Wow. So what other benefits did you know this person, for example, fine with using a property management?

01;53;12;44 - 01;53;30;15
Speaker 3
Well, one of the things that I recently got on a call with him, he wanted me to go over a feature that he was not able to figure out yet, which is fine. I mean, there's always a learning curve once you get a software and then after a couple of weeks, I would say you you can you can become an expert and know, you know, from A to Z how to use.

01;53;30;42 - 01;53;51;20
Speaker 3
Right. So we were on the phone the other day and he told me one of the things that he appreciates the most is the ability of actually generating more income. Okay. He's comparing his books from back in the day when he didn't have a software to right now and the automatically these the rent reminders is just keeping everybody accountable paying rent on time.

01;53;52;05 - 01;53;55;33
Speaker 3
So you really making more money now that he's using software.

01;53;56;27 - 01;54;06;48
Speaker 2
That's amazing. Okay. So he's getting paid on time. Those who aren't paying on time, they have paid late fee. Are there any other ways of of generating extra revenue? Yes. For the rent itself, there.

01;54;06;48 - 01;54;25;48
Speaker 3
Is another way of generating actual revenue that is actually setting up application fees. Okay. Okay. Once you have vacancies and you find the perfect prospect or you're in the process of finding that perfect prospect to to fill your vacancies. Right on. You want to make sure we screen those people, right? It's at the end of the day, that's your property.

01;54;25;48 - 01;54;27;43
Speaker 3
You want to make sure you put somebody in that property.

01;54;27;43 - 01;54;28;33
Speaker 2
Don't get a bad tenant.

01;54;28;35 - 01;54;53;55
Speaker 3
Yeah, Like somebody who can take care of your things. Right? So basically the software allows him to go ahead and run a very complete report on the past rent history that that specific prospect passed. And not only that, but it also helps him see if that person maybe has some criminal history or maybe that specific tenant, maybe he's got a bad credit.

01;54;54;13 - 01;54;54;40
Speaker 3
Right.

01;54;55;05 - 01;54;55;31
Speaker 2
Right.

01;54;55;32 - 01;55;13;51
Speaker 3
And that has a cost, of course, that report. Somebody needs to pay for that. So the software he has right now, which is DoorLoop, it allows him to actually go ahead and charge more than what that specific report costs and the gap or let's say the extra money that he charges takes it as profit.

01;55;14;27 - 01;55;16;15
Speaker 2
Okay. So I'll stop charging on it.

01;55;16;54 - 01;55;25;32
Speaker 3
Exactly. So, for example, let's just pretend the report cost $40 in your charge, $75, and the rest would be just for him.

01;55;26;28 - 01;55;35;53
Speaker 2
Right. Because there is some work that he has to do. It's not just paying for the background check itself. He's putting time. He's putting effort into it. So there's a cost to that as well. That's where the upcharge.

01;55;36;16 - 01;55;39;36
Speaker 3
Right, Exactly. But then this is something that he was not doing before.

01;55;40;08 - 01;55;40;55
Speaker 2
Really?

01;55;40;55 - 01;55;41;29
Speaker 3
Exactly.

01;55;42;32 - 01;55;49;09
Speaker 2
Okay. Interesting. Right. So this is all done through the software itself.

01;55;49;33 - 01;55;51;24
Speaker 3
It's all done through the platform.

01;55;52;23 - 01;56;11;02
Speaker 2
Awesome. Okay, so now I'm starting to get the picture. What? You're saying that everything can be done from one place. It's a lot more efficient. In fact, you're not using multiple softwares and trying to, like, put everything together. Correct. All right. So is that something that's common as well for someone gets a property management software that they're dealing with multiple different programs and.

01;56;11;36 - 01;56;29;35
Speaker 3
Where you have other stuff all over the place? Yeah, that's the other type of of customer right there. There's two people. There's one that is not technology friendly and there's the other type that are very, very tech savvy and they know how to handle software computers. The business itself has a lot of technology involved, but it's all over the place.

01;56;29;59 - 01;56;42;52
Speaker 3
And what I mean by that is that, oh, I have a software for e-signatures, then I have another software with another subscription for accounting, and then I have another one maybe to take care of all my files. Right. So then.

01;56;43;14 - 01;56;43;53
Speaker 2
These are all paid.

01;56;44;13 - 01;56;54;58
Speaker 3
This are all paid softwares. Of course they are. They're all paid. And the thing with that is that they don't communicate with each other. So there is no sync between all of those softwares and there's a lot of manual entries.

01;56;56;19 - 01;56;59;13
Speaker 2
You get something from one software if to download it, upload the next one.

01;56;59;16 - 01;57;09;09
Speaker 3
Lot of lots and lots of manual entry. And again, we go back to what we taught at the beginning, which was non moneymaking activity, which is that manual.

01;57;09;54 - 01;57;14;29
Speaker 2
Downloading files and uploading that and updating things, it's not going to make you any money.

01;57;14;56 - 01;57;26;43
Speaker 3
It is. I mean, the business might be making you money, but it could make you more. You stop allocating your time and those administrative things that you could basically out of.

01;57;27;30 - 01;57;43;23
Speaker 2
And that makes a lot of sense. All right. So if there are all these benefits, right, you can save time. You can save money. What property management software? Why are people avoiding. Right. There's there's so many people that are using them, but there's a lot that are still doing the old fashioned way. Right. So what's stopping?

01;57;45;05 - 01;58;02;52
Speaker 3
Again, it could be a couple of things. Right? Maybe they're afraid of investing in their business and people are just very price conscious. And a property management software is a business that's at the end of the day. Okay. You have to you have to spend money to get this advantage, which is actually going to help you make more money.

01;58;02;52 - 01;58;20;46
Speaker 3
Right. That's one thing. Another thing might be that they're not very tech savvy, so they feel like software is overwhelming and they're just gonna not be successful using it, Right? That's just another thing that I could think of, Right? There's plenty of reason why you wouldn't use this software. Those are the two main things.

01;58;21;23 - 01;58;31;28
Speaker 2
Right? But I think the way that I see it is that if you if it's a business expense, you have to pay for it and you decide not to pay because you want to save money, it's going to cost you in other areas.

01;58;31;55 - 01;58;58;37
Speaker 3
Right, Exactly. Exactly. And that's a good way of of that. Mo, it seems like you're very tech savvy, so you can see how a software could benefit you. Not everybody's like you. And I tell you that from experience where I speak to, its ten property managers or landlords every single day. Right. And I would say like 35 to 45% of people are just afraid of technology and just don't trust it as they have never used it before for their business.

01;58;59;22 - 01;59;09;28
Speaker 2
Right. So, yeah, I mean, that's a good point. Not everyone is tech savvy or has experience using software. They might be a little more advanced. So can anyone learn? It is.

01;59;09;43 - 01;59;37;56
Speaker 3
Absolutely. Absolutely. That's a great point right there on there are plenty of softwares in the market. Some of them are very overwhelming and very hard to use even for somebody who is tech savvy. Right. However, there are some very user friendly technology systems, like, for example, it's very, very easy to use like the whole platform was built basically for people who are not very takes up.

01;59;38;22 - 01;59;49;45
Speaker 3
Right. And even for those who are tech savvy, they will actually enjoy the fact that they say you do on 4 to 5 steps on another software in order you can do them in one or two steps.

01;59;50;08 - 02;00;07;04
Speaker 2
Amazing. Yeah. You know, I think that's a common in many softwares, right? Like I was looking for a podcast software or, you know, for this very podcast as well. And I found a few different options. There was one that was very customized. It looked amazing, but it was so complicated. I just don't have the time to learn it.

02;00;07;04 - 02;00;14;09
Speaker 2
And then I ended up going with one that was, you know, much easier to use. You just drag and drop you. You click, you say, We want to do and it's done exact.

02;00;14;59 - 02;00;36;23
Speaker 3
So yeah, the, you know, this age is turning into very user devoted type of software. There's no that's what we're seeing here. You know, there's plenty of softwares in the market and easy to use is one of the first things that you want to listen to or take a look at when you're doing research and figuring out when you're going to write.

02;00;36;23 - 02;00;40;40
Speaker 2
It makes sense. I mean, we only have so much time in the day, and the more you can save, the better.

02;00;41;02 - 02;00;45;53
Speaker 3
No one At the end of the day the software is supposed to take a headache off your plate not being another headache.

02;00;45;55 - 02;00;58;43
Speaker 2
Wow. Yeah. Makes a lot of sense. Okay, so we talked a lot about the tenant side of things, but what about the owner side of things? Is there any benefits there for a property management software that can help you make money?

02;00;59;10 - 02;01;24;38
Speaker 3
Of course. Well, property management businesses, the ones are very successful and the ones that attract a lot of landlords is because they are very transparent. Okay, so if I buy a property and I invest an important quantity of money in that property, I want to make sure that the person who's managing that is somebody who is very transparent with me on how much money that property is making, how much money at your expense.

02;01;25;04 - 02;01;51;21
Speaker 3
Exactly. So. So at the end of the day, those property management business that actually are successful are the ones are very transparent. So the software allows you to give your owners a user and password and they can at any time on their phones, on their iPads, any device. As long as they have Internet, they can go out and see other properties doing how much money they have been spending on maintenance and many more.

02;01;52;11 - 02;01;55;22
Speaker 3
So it does it does bring a lot of benefits for the owner as well.

02;01;55;43 - 02;02;03;11
Speaker 2
Right. That's a lot of peace of mind as an owner, as someone who's invested. Right. You don't just sit around wonder how things are doing. You can actually see it for yourself.

02;02;03;28 - 02;02;13;50
Speaker 3
Exactly. Most property managers, what they do is they have like a monthly newsletter that they send to the actual over and all they get. Right. So you now the.

02;02;13;50 - 02;02;14;27
Speaker 2
Real time.

02;02;14;27 - 02;02;25;44
Speaker 3
You know, real time updates, no real time approvals for maintenance of objects and things like that. Again, technology is a big friend for property managers and owners as well.

02;02;26;27 - 02;02;41;02
Speaker 2
I know that it sounds like it solves a lot of problems. So also for the owners, they have the the management fees as well, right? Some them that are getting paid to the property. Uh, property manager. Mm hmm. So How does that work with property management software?

02;02;41;17 - 02;03;02;05
Speaker 3
Basically, the software gives you a lot of peace of mind in that specific sense, because the software calculates exactly what percentage are you taking from their rent collection. Maybe if you have it really the on the deal that the property manager negotiates with the landlord when you're selling. What I have seen is that it's between 8 to 12% of the rental income.

02;03;02;38 - 02;03;25;13
Speaker 3
Okay. That's what property managers make. Now, there are some other things. For example I've seen also people, property managers take 50% of the late fees. Really? Things like that. And it really that all of the deals vary a lot like they're not all the same or really depends on their negotiation skills. LONG It depends on the landlords and yeah.

02;03;26;27 - 02;03;31;09
Speaker 2
Okay. So if they negotiate well enough, they could end up getting 50% of the piece, right?

02;03;31;35 - 02;03;49;43
Speaker 3
Well, that's one thing, right? That's just an example. It could be something else. Some of the property managers actually pay part of the maintenance as well. Really. So it really depends on the deal that you have with the landlord. That's a very specific case, and I don't see that a lot of times. But just to give you an example, how broad the negotiation.

02;03;50;10 - 02;03;56;43
Speaker 2
Right. Okay. And does the owner see all of this other information and share with them for the owner portal?

02;03;56;51 - 02;04;18;35
Speaker 3
Well, that's that's actually a tricky part. And I don't want any of the landlords here in this podcast to get mad of me. Right now, it's quite interesting. Yeah, it's getting it's getting kind of interesting here. So property managers actually hide stuff from the owner with the software. Okay. And I'm not talking about illegal activities or just trying to steal from the landlord.

02;04;18;35 - 02;04;35;36
Speaker 3
That's not exactly what I'm talking about. But as a property manager, once you sign a contract, the contract is what it is. Right. So as a property manager, don't have to show you anything else that is bound in the contract. So if I can hide it for for for me to avoid questions about those, I'm going to do it.

02;04;35;56 - 02;04;36;41
Speaker 3
Does that make sense?

02;04;36;59 - 02;04;38;21
Speaker 2
Yeah. Like with the late fees.

02;04;39;30 - 02;05;00;06
Speaker 3
For example, let's just pretend that you are a landlord. I am your property manager, and we discussed that process. Late fees are going to be part of my court. And as a property manager, it's in the contract, right? Maybe I don't want to show you how much money we're generating in late fees. Maybe I just want to show you how much income you're generating yourself.

02;05;00;25 - 02;05;02;47
Speaker 3
Deduct in my management fees from that.

02;05;03;34 - 02;05;08;00
Speaker 2
Right. Okay. So the property owner is still getting the 50% API's.

02;05;08;24 - 02;05;11;36
Speaker 3
He's getting his card is getting his income statement.

02;05;11;38 - 02;05;13;31
Speaker 2
Missing all the information that they need to see.

02;05;14;30 - 02;05;14;57
Speaker 3
Correct.

02;05;15;41 - 02;05;32;11
Speaker 2
Okay. I think that could be a benefit as well, like you said. All right. So it seems like there are so many benefits. Right. So many ways to make money. But there must be some downside there. And nothing is work yet. So with a property manager in software, what are the downsides?

02;05;32;35 - 02;05;46;09
Speaker 3
Well, the downsides is that you have to spend money on the software and they the software has some onboarding costs. Usually most of the software, they actually charge you for the onboarding process, which could be a little tedious. Right. And there's a lot of.

02;05;46;09 - 02;05;47;16
Speaker 2
That's guess a lot of training.

02;05;47;17 - 02;06;09;20
Speaker 3
On. Yeah, training basically migrating data from other softwares and things like that. It just takes time. Right, Right. Another thing is learning how to use software. Nobody's born knowing how to use specific software. You have to take some time and play around with it. You have to use trial and error to get to understand and be an expert into the software.

02;06;09;31 - 02;06;15;05
Speaker 3
That's why very, very important that you find a very user friendly software so you can easily navigate it.

02;06;15;59 - 02;06;27;46
Speaker 2
Right. So I guess that makes sense, right? One of the biggest downsides would be just sort of the starting off costs, right? That the time you're going to spend a little bit of time learning the software trial and error. But if onboarding.

02;06;27;46 - 02;06;50;31
Speaker 3
Costs the subscription costs, which usually most of the of the softwares out there are not desktop anymore back in the day you could just buy the software and have in your computer and that's it. Nowadays, most of the softwares out there are on a subscription based business model. So you have to incur that payment every month or once a year or however you have to sell your software.

02;06;51;39 - 02;06;55;18
Speaker 2
Right. Okay. So in the past, you should just pay for once.

02;06;55;18 - 02;07;14;44
Speaker 3
Exactly. Just like you would pay, for example, Microsoft Office. So you can have word Excel PowerPoint on your computer. Back in the day, you would just pay for the license. And it's a one time payment and then you have it forever. Now things are changing. The software companies are evolving, so they understand that they want to keep like a recurring charge.

02;07;14;44 - 02;07;16;17
Speaker 3
So this up, please.

02;07;16;37 - 02;07;26;47
Speaker 2
Well, I guess it makes sense because if you're paying every month, the benefit that you're getting is that it's always updating. You're getting new features, right? Like correct. Things are getting better.

02;07;27;05 - 02;07;46;17
Speaker 3
Of course. No, no, that's a great point that you touch there. The fact that now it's not just pay and that's in in brings a lot of updates. It brings a necessity for the software company to keeps its current users. Right. So that's why they keep rolling out updates and making the software great for.

02;07;46;52 - 02;07;51;57
Speaker 2
And like the customers are suggesting new updates. And if it's a good idea, they might roll that out in the next one.

02;07;52;27 - 02;08;05;18
Speaker 3
So exact like it really depends whether the software company actually listens to what the users are saying. Run it and they do their own business, right? They should be releasing new updates to help those user on the business more.

02;08;05;18 - 02;08;29;18
Speaker 2
But that's awesome. All right. So what should the property managers that are making all this money, what should they spend it on? How should they celebrate on this? Fair question. Well, let them decide. But yeah, I think we're pretty much wrapped up. I just ask you if you had any final thoughts or any advice before we close up here?

02;08;29;34 - 02;08;52;38
Speaker 3
Any advice? Okay. I do have some advice for and this is coming from my experience. Again, I talked to property managers are on the fence between going for a software, just keep doing things that go away. Right. So my advice is do a lot of research. Hmm. Okay. Don't just settle with what's online. Go ahead and find people who are actually using software.

02;08;52;39 - 02;09;16;29
Speaker 3
Ask them how the experience has been. Check reviews from independent websites. Don't just settle for what the actual companies websites sell like, go ahead and go beyond that. Okay. And. And then again, this is not only, um, property management. This is a life advice. Take a look at people who is doing better? What are they doing that it makes them more successful?

02;09;17;01 - 02;09;18;47
Speaker 3
And that's is a piece of advice right there.

02;09;19;45 - 02;09;23;03
Speaker 2
Amazing. I love that. That you're right. You can apply it to anywhere.

02;09;23;17 - 02;09;24;16
Speaker 3
You can apply that to learning.

02;09;24;43 - 02;09;33;39
Speaker 2
Awesome. All right. Last question. What are the top things that someone should look for in a property software when they're when they're doing this research?

02;09;33;48 - 02;09;53;48
Speaker 3
There is it's going to come down to three or four things. The first thing that we're going to look at is how robust the system is. Okay. Is this going to do what I needed to do? Okay. The second thing is how cost effective this is, right? Is it she Is that expensive? I just have to make sure that this is feasible for my business.

02;09;54;22 - 02;10;13;18
Speaker 3
Okay. And the third thing, what is actually going to come down to four things. The third thing is how easy it is to use. Okay. Again, we talked about that. It needs to be a user friendly software that you're not going to spend years figuring out how it works. And then the fourth thing which in my opinion, could be the most important one.

02;10;13;35 - 02;10;31;05
Speaker 3
Okay. What type of password that this company brings right at the end of the day. The learning curve is always going to be there. It comes down to how this people are going to help you learn. Like when you have a problem in the software and you reach out to them and you call them and you instead. Same day, Zoom call.

02;10;31;35 - 02;10;42;03
Speaker 3
Right. Those are the things that I would say. Those four things I think is the four main points that I one have by some. Someone was actually researching and getting a property management software.

02;10;42;39 - 02;10;57;02
Speaker 2
Well, I love those last two taps, you know, as if the soft like the tip ember three if the software it's hard to use. You know first all you're gonna spend a lot of time on it and you know I've been there before where I tried to learn new software and I would just get frustrated and it's not want to use it exactly.

02;10;57;04 - 02;10;58;41
Speaker 2
But I say, you know what? This is not for me.

02;10;58;53 - 02;11;07;25
Speaker 3
We all of it there. And I am not saying I'm the most tech savvy person in the world. I'm just saying I need to have somebody Walter, by the hand up, at least in the beginning stage.

02;11;07;43 - 02;11;15;55
Speaker 2
Right? Yeah. And then the last step, like you said, make sure that you can reach out to them. If you do runs, it's like it's guaranteed to happen no matter what.

02;11;16;15 - 02;11;17;56
Speaker 3
It's going to happen. It's going to happen.

02;11;18;28 - 02;11;30;53
Speaker 2
Awesome All right. Thank you so much for joining us. I learned a lot. I'm sure everyone else did as well. Guys, thank you so much for watching. We hope you enjoyed today's podcast. Make sure to stay tuned because we're gonna have a lot more coming very soon. I thoroughly thank you.

02;11;31;16 - 02;11;35;26
Speaker 3
Thank you so much, guys.

02;11;35;26 - 02;11;56;48
Speaker 1
And thanks for listening all the way to the end. Don't forget to give us a good rating on whatever platform you're tuning in from. And we'll be back soon with another new. We hope to see you there. And until next time. This has been stupid in.