Build with BBB
Build with BBB
How Trust Transforms Property Management
Sincere Property Management embodies the essence of trust and integrity in the rental market. The founders share their journey, insights into supporting new investors, and the importance of nurturing relationships and ethical practices within property management.
• Introduction to Sincere Property Management and its founding story
• Focus on building trust and integrity in property management
• Challenges faced by new investors and ways to navigate them
• Importance of open communication and relationships with clients
• Insights into practical tips for aspiring property investors
• Discussion on time management and life balance for entrepreneurs
• Conclusion highlighting the philosophy and ethos of Sincere Property Management
https://www.sincerepropertymgmt.com/
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https://www.linkedin.com/company/sincere-property-mgmt/
https://www.instagram.com/sincerepropertymgmt/
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If we can't do it at a thousand doors, which is like a term in property management, if we can't do it at a thousand doors or a thousand units, we shouldn't be doing it at one.
Speaker 2:Hey friends and welcome back to the Build with bbb podcast today, on the podcast for interviewing sincere property management, and here today are our owners to tell us a little bit about your founding um, your origin story, why you decided to become an entrepreneur, and also share a little bit about what it means to be a trustworthy and a business that really leans into integrity. Welcome, grant and Alicia to the podcast yeah. Tell us a little bit about Sincere Property Management, what you do.
Speaker 1:Yeah, sincere Property Management. So we started a little over a year ago and we basically manage investment properties for investors that don't want to be landlords. So we'll do everything from listing to leasing, help them build their portfolios, get tenants, everything like that.
Speaker 3:We mainly do single family homes, but we also have some apartments, and then we're expanding into commercial space just recently. So we're excited to see where the growth continues to take us.
Speaker 2:So we talked a little bit about before we started filming the podcast that you really kind of like. Your niche, if you will, is that you help new investors. Tell us a little bit about that for people who are brand new to. Hey, I just bought a house and I don't want to manage it.
Speaker 1:Yeah, yeah, I mean the rental investment game can be kind of a gamble, it can be kind of scary, but it's also obviously historically very successful and one of the best ways to create independent wealth. And so usually when we get a new investor on board, we kind of help walk them through what it looks like to build a portfolio, to get good cash flow, to maintain a property, to get good tenants. What are some of the avenues, whether it's section A, how do you do a make ready? How do you pass an inspection? What are different ways that you could rent this with? Like strategies on leasing and things like that.
Speaker 3:So yeah, we're always working with a variety of investors and there's a bunch of reasons why someone becomes an investor. You know, sometimes a house is passed down and then they don't live here and they don't really want to sell the house, so they're looking for someone. Sometimes it is continues to become profitable and then eventually they might sell it and make that larger profit. And sometimes you have family homes that we've had, you know military. They have to move away, they don't really want to sell the home, so they lease it. And that's where we come into partner with a variety of people for a variety of reasons. We come in to partner with a variety of people for a variety of reasons and meeting each one of those investors where they're at is an exciting part of the gig for us, um, and it's it's fun to try to figure out the best strategy or how we can best help them with their long term or short-term goals so before we get too deep, into like the kind of like how, how, how it happens and what you do.
Speaker 2:Tell us about your origin story. How did you start your business and?
Speaker 1:the why behind what you do yeah, so, um, a little bit of an origin story for me. History would be that you know I grew up around a lot of really successful entrepreneurs. Um, my grandfather was a huge inspiration to me and he was an entrepreneur out of Sand Springs, oklahoma, actually in the 70s. All the way to the moments, final moments of his life and things like that, his brother's a very successful entrepreneur, originally in Oklahoma, now in Florida, and I kind of always knew that I wanted to go that route eventually and I wanted to do something that we could really build, we could create, we could kind of mold in our hands. I love working with people, I love building relationships. It's kind of just a natural talent for me.
Speaker 1:And so I went into ministry for a while and then we had a baby. I went into ministry for a while and then we had a baby. Ministry isn't always the most fiscally lucrative profession. So I did some other work in sales and marketing, business, business sales and it just got to a point where I realized that I had some skills that could really translate. We got to a place in life where we were just ready to, you know, take a leap of faith and really try to do something that we could build for ourselves, build for our family, a legacy for our kids. And yeah, I don't know if you'd add anything to that.
Speaker 3:Yeah, I think you know business wise when we're looking at property management. We've been renters for a long time. We know what it's like to have good landlords, bad landlords, and then, on the flip side of things, my parents have investment properties and talking to owners like there's skin in the game on both sides, and so we really wanted to create a environment where it's like everyone's taken care of, where we're helping the owner and we're trying to help them build and have a successful, you know, long-term investment strategy or whatever it is, but at the same time we want to take care of the tenant too, and and that's where sincere got its name is we want to be sincere and all that we do and that goes on all sides of the business we just work really hard to have open communication with owners and to really try to take care of the tenants and do what we can across the board. So that's, I guess, sincere got its name because of that kind of core value.
Speaker 2:Yeah, so you've aligned your business with BBB, so obviously trust and integrity is really important to you, one being that our homes are, like, our most important thing, right. So, we go to rest and rejuvenate and all of those things Tell me a little bit about how that is a foundational element to your business trust and integrity.
Speaker 1:Yeah, well, our slogan is actually integrity with innovation. So, um, it's in the name, obviously, but, no, a big part of it is, like I said, relationships for us and, like Alicia was mentioning, relationships on the tenant side and on the owner side, and a big way that we've found success in that, and not only success, but fulfillment. Success in that, um, and not only success but fulfillment, I would say too, is through uh working with programs like the homeless alliance section a, uh dragonfly homes, which helps uh victims of sexual trafficking and domestic abuse, and so, um, placing them in homes, helping them get back on track, and things like that, which which I know that PBB is very big on and does a really good job of.
Speaker 3:And so yeah, I think you know, just in everything that we do, we strive to have that sincerity, that integrity. We want to be beyond reproach, and so if there's a mistake made, we're going to own it, we're going to fix it, we're going to learn from it and move forward, and I think that that's how we live our life, but it's also how we maintain and grow our business.
Speaker 2:So what tips do you have? For if we have anybody listening today who is a potential property investor, maybe they just brought a home what should be the kind of their first initial steps to kind of get set up in the right way.
Speaker 3:Yeah, it can be a variety of reasons, like we talked about, but generally speaking, most people come to us because they have a home and they don't want to be a landlord. Being a landlord can be hard to navigate for a variety of reasons. Number one is just you have to be a people person and you have to deal with tenants and people you know moving in and out. But then there's also some the legal side of things as well. You know we're both real estate agents and are up to date on, you know, real estate law and we are not lawyers and this is not legal advice.
Speaker 2:But disclaimer disclaimer.
Speaker 3:But we do have an awareness there and I think that can be daunting for someone who just wants to have the property and has an investment. So one of the first things they can do is reach out to property managers and try to find one that aligns with their goals and vision, and and interview them, you know, and try to find someone that really fits with what they're trying to do, whether that's grow their portfolio or just find someone that you have similar values to, whatever it is, and partner with them, because as property managers, that's our goal is to be a partner, and when we want to help further the goals of the owners and make it a long lasting thing that that works for them and that they're able to provide for their own family with, so, um, I think a conversation is always the way to start.
Speaker 1:Yeah, I think, um, with any, really with anything you do in life, but also especially with investments, I think, just breaking down specifically like why you're doing it, where you want it to go and how you're going to get there, and kind of being like a strategic thinker and a productive planner, and then a part of that comes to like you don't have to do anything alone.
Speaker 1:We didn't build this business alone, like I was influenced by people before me. We have mentors, we have friends, we have networking groups and investing is I mean, that's a huge piece of it is. There's tons of people out there with tons of experience property managers, wholesalers, real estate agents that have a wealth of knowledge that they want to provide. So I think, when you can determine that specific focus and then, like Alicia said, start that conversation and start building your community of people that can help you along the way, you'll find contractors, you'll find lenders, you'll find property managers, you'll find sellers and buyers and investors that are going to help you be really successful, and that's kind of what we're passionate about. Back to that relationship piece.
Speaker 2:It sounds like or at least I'm getting this continued education and educating your clients is a big part of what you do. Can you tell me a little bit about that?
Speaker 3:Yeah, there's a lot that goes into investing, there's a lot that goes into maintaining the property and I know we touched on Grant touched on a little bit the organizations that we work with. Working with organizations like Oklahoma Housing Finance Association, ofa, ocha, the different Section 8 programs, norman Housing Alliance, things like that. There's some red tape to be able to navigate and we've held informational trainings for our owners that are interested in that stuff, because it is constantly changing and it is a little overwhelming if you've never dealt with it before, and so that is a big piece for us is how can we help make this more accessible to people? Not only, you know, accessible housing to tenants, but how can we make affordable housing and growing a portfolio with that strategy in mind more accessible to the owners and investors? I think a lot of times investors will be shy to go down that route because there's just a lot involved and it can be a lot. So we just work really hard to try to make sure we're a resource.
Speaker 1:Yeah, I think it's like the old saying there's a thousand ways to tie a knot, probably, and so a big piece of it is knowing that there's no one right way.
Speaker 1:You just have to get started, and so that's kind of a big. This is obviously like a very bird's eye view too, because there's just so much semantics and specifics that go down to it to finding that focus and breaking it down. But we and then it goes into the relationship piece we want to continue having those conversations so, like you don't know what to do with a tenant that is giving you a headache or causing problems, like we want to have conversations about like okay, what are some strategies we can make to, uh, fix this situation, resolve this situation? And so it really comes down to giving all of our owners the time that they need to have those conversations, to ask us questions, to provide our advice, and then also, at times, like being very honest, goes back to the integrity piece of like. You know I don't have an answer to that question right now, but I have people I can call on that I can get you an answer with.
Speaker 2:That's always my go-to, because nobody you you'll look silly for giving them a wrong answer yeah, but if you can take ownership of. Like you know, I don't know the answer yeah, and it says a lot about how you operate your business yeah and people are often, you know, really receptive to that.
Speaker 2:So let's go down the line. I don't know that we talked much about it, but what all services do you offer to landlords, because I don't know if it's like a la carte, do you have kind of like a different structure depending on what the landlord needs? Can you tell me about that?
Speaker 3:Yeah. So we offer basically everything from when you're first starting to market the house. So if you have a property that you're interested in leasing, we would visit the property, do a walkthrough with you. We can help identify things that might need to be done in order to make it more marketable, depending on who your target audience is right. If you are going section eight, that would change how we look at things, because you have to pass certain inspections. If you're not going Section 8 and you just want it to the general public, we could look at some different recommendations for you there.
Speaker 3:And then, once it's ready to lease, we do all of the marketing. We do all of the pictures and video and, you know, broadcasting it out as available. We facilitate all the tours and then, when someone wants to apply, we do the background checks, credit checks, make sure that we're getting a good tenant that can take care of the property, because obviously it's an investment. Some people throw their entire life savings into this, so it's something we don't take lightly. And then the owner gets to kind of be a partner with us along that way. We're talking to them weekly, we send weekly updates to our owners so they're able to ask questions and we're able to make sure they're up to date on the latest of what's happening.
Speaker 3:And then, when it comes time to move in, we handle the entire move-in process. We handle the lease itself and execution of that lease, and then we have an option for owners to sign up for additional inspections, where we do walkthroughs and we make sure that everything's being taken care of Air filters are being changed, Batteries and smoke detectors are working, things like that. So, yeah, it's pretty much a package deal. When you sign up for it, you get the whole shebang. The inspection part is an add-on that you can choose to do for us personally. But other than that I mean we handle move-outs, we handle any issues that the tenant has, all the maintenance, coordinating and facilitating and any kind of inspection.
Speaker 1:We'll help facilitate renovations. If you buy a property that needs a renovation. We help with the unfortunate side of renting, which is if there's ever an eviction or anything like that or a lease break. We help walk an owner through that process, which is I mean it's a sad process and then it's also a stressful process for all parties involved. And so having expertise in that and having someone to call on is very helpful and then somebody that is willing to have those conversations which we do so my hope is that, um, if there's anybody else saying, maybe some tips that you guys have shared throughout the episode.
Speaker 2:That have been helpful what other things would you like to share with any businesses or consumers listening today?
Speaker 1:uh, we, we kind kind of have a motto in our business that has helped us grow and I think it could be reframed for any business. But one thing we said from the beginning is if we can't do it at a thousand doors which is like a term in property management if we can't do it at a thousand doors or a thousand units, we shouldn't be doing it at one, and that was kind of our whole purpose to scale and grow. The second one is Mai Tais on the beach, which is just a reminder for us that we're always working for something else in life and eventually you'll get there and eventually we can watch the business flourish and just be drinking Mai Tais on the beach.
Speaker 2:I think that's what we all need sometimes. So for a brand new business owner, what?
Speaker 1:would be your number one tip I would say honor your time. It's really easy to want to do everything and to want to take care of everything, and that was another thing that we started from the very beginning is setting boundaries for ourselves and honoring our time, that the reason we're doing this is to have more wealth for our family, and one of the biggest pieces of wealth is having time and so honor your time. Take your kids to the zoo, get them out of school early, get your stuff done, but have boundaries yeah, I love that.
Speaker 2:I think that's how grant and I connected at the coffee because he said something I was like time is money exactly exactly so many, I think, so many new businesses and entrepreneurs.
Speaker 3:There's so much to do and it can be really overwhelming, and so it's really easy and and I I see it happen all the time where you get sucked in because there is so much to do. We actually have a mentor that we've talked to about business and he was like you have to be okay with letting fires burn, and that was something I was like I needed to hear that, because I hate letting fires burn and you know there's definitely a balancing act there. You know you do need to be urgent and timely and take care of things Absolutely, but at the end of the day like if you can't set it down and go have dinner with your family, then we feel like we're missing it. So that's been a big thing for us and I would encourage all new business owners is like you have to prioritize your time because no one else is going to do it for you.
Speaker 2:I love that. For anybody listening who wants to connect with you offline, where's the best place?
Speaker 3:to do that. They can get to our website and there's a connect option down at the bottom that will send an email to us. We also have social media so they can reach out there. What's your handle? It's sincere property, mgmt, okay. We'll link all the things in the show notes Perfect yeah.
Speaker 1:Facebook, Instagram, LinkedIn.
Speaker 3:Yep and our website has all of our contact information and social media too. So if and it has information for property owners and renters, like if you're looking for a property to rent or if you're interested in looking at a property manager, like, all of that information's on there. So I always direct people like hey, if you're curious, check out the website. It's a great place to get started. Yeah, resources.
Speaker 2:It's always good, right? Thank you so much.
Speaker 1:Thank you so much. It's been awesome.
Speaker 2:Thank you for all of our listeners who are still with us at this point. Make sure to check out the show notes and description below for all of the connection information to Sincere Property Management. If you have a question about today's episode, you can leave it down below in a comment. Otherwise we will see you in the next episode. Bye, friends.