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How to Maximize ROI for Property Owners
Competition is increasing in the property management market. More owners than ever are looking to find the best management company for their property that will also help them improve their ROI.
So how can you, as a management company, help owners make the best use of their properties and enjoy their homes while still making the biggest ROI?
Lisa Stotelmyre is the President of Yellow Brick Road Homes+, with properties nestled in Lake Arrowhead, CA, and Winter Park, CO. Lisa began her journey as a STR host in 2010 by purchasing a run-down property for 55K and increasing its value to 400K. Yellow Brick Road Homes+ specializes in managing 2nd homes for owners so they can enjoy their homes while enjoying the biggest ROI possible.
On this episode of Get Paid for Your Pad, Lisa joins me to walk us through the lessons she learned as she transitioned from owning a few units to running a property management company.
She shares her #1 reason for joining Legends X and the one philosophy she's learned to embrace from the training that catapulted her to the rising star program and her plans for Yellow Brick Road Homes+.
Listen in as Lisa shares how she used what she learned during Legends X to go from a hectic host to a company with 15 to 18 units and a team that's helping her scale.
- Why Lisa got involved in the STR market
- Her organic transition from owning to managing
- The most important things to consider when transitioning from an owner to a manager
- How to create a property management success criterion so mangers and owners are on the same page
- The 3 standards Lisa puts in place for every owner client
- The 2 ways Yellow Brick Road Homes+ maximizes ROI for property owners while ensuring their money is well invested
- The amenities investments that increase ROI
- The #1 question to ask that increases your value as a property manager
- The biggest thing Lisa took away from the Legends X training that helped her transition from a hectic host to managing her own property management company
Connect with Lisa