Mike Schraepfer's guest appearances

Mike Schraepfer

The Property Management Mastermind Show

The Profitable Property Management Podcast

Good Life Property Management

Steve Rozenberg

Alex Osenenko

Brad Larsen

Andy Moore

Scott Brady

Aaron Marshall

Andy Propst

Matthew Whitaker

Justin Bajema

Ben White

Rob Coldwell

Ryan Hanley

Sean Morrissey

Shawn Johnson

Pat Hiban

OwlTail

Brad is excited to have Mike Schraepfer on this episode of Property Management Mastermind. Mike is the President of Heirloom Property Management in Duluth, MN. He enjoys sharing his experience to help new investors find properties, solve financing, and work through renovations.    Mike started his career as an investor eighteen years ago and built up a portfolio of 126 single-family homes and duplexes. He renovated the properties to lease, and his property management career began. Six years ago, he began managing properties for other individuals, but he is still his biggest client.   He manages properties that he owns, which makes him the property manager everyone wants to be. His business of management is running his assets, which puts him in the top tier, probably the top 1% of property managers in the country. His company doesn’t have a 401K for its employees. He decided to go a different way and teach them how to invest and manage properties, and as of right now, his staff owns about 25 units.   Mike is one of the speakers at the Property Management Mastermind Conference in March 2020. Listen as he reveals the topic of his presentation and a sneak peek of some of his key talking points. He will discuss how your company can benefit from bringing your maintenance in house and the best software to bring it all together and so much more.   Have you purchased your tickets yet? Don’t hesitate; Mike is just one of the many high-level speakers that will be at the event. Listen in for a small taste of what you can expect when a group of elite property managers get together in one place. If you already have your tickets, great! If not visit the PMMCon.com and get them now before they are sold out, this is one conference you won’t want to miss.   Show Notes   [02:22] Mike, welcome to the show! [03:08] Mike talks to us about how he got into property management. [04:08] He speaks about his alternative way of helping his staff save for retirement. [05:57] Mike discusses the mastermind group he formed with five other people. [07:42] They discuss the topic Mike will talk about at the Property Management Mastermind Conference. Making Money in Maintenance. [13:09] Mike will have some excellent deliverables for the people who attend his presentation. [14:18] What did you take away from the NARPM Conference that you are excited to use? [16:31] Ancillary fees were implemented in Mike’s company in the last year, and they have helped the bottom line. [18:08] Mike will talk about best practices and markup vs. margin at the PMMCon. [19:28] Bring in house everything that doesn’t require a license when it comes to maintenance. [20:50] What software do you use to run maintenance estimates? Do the techs have tablets? [23:13] Mike says he is most excited about the black-tie event at the conference. [23:56] They talk about presentation ideas for other meetings. [25:15] Scott Brady asks the question, “How can you run a property management business without any management fees”? [27:26] Operational management is conducting maintenance at a high level. [27:58] They chat about Mike going to Madrid, Spain, to his business and come up with new ideas. [29:07] See you in Las Vegas, thank you for coming on the show!   Links and Resources: Property Management Mastermind Property Management Mastermind Group on Facebook adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) Seacoast Commerce Bank Insurance Management Group (918) 728 8992 (Derek Scott with Insurance Management Group) zInspector FilterEasy Property Meld Richard Drake  NARPM Southern States Conference National Apartment Association  NARPM Accounting Standards Kevin on LinkedIn   For the Property Management Mastermind Conference information https://pmmcon.com/   For the Business Development Mastermind Seminar  https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385 Bizdevmastermind.com

Brad is excited to have Mike Schraepfer on this episode of Property Management Mastermind. Mike is the President of <a href="https://rentwithheirloom.com/" rel="nofollow" target="_blank">Heirloom Property Management</a> in Duluth, MN. He enjoys sharing his experience to help new investors find properties, solve financing, and work through renovations.  Mike started his career as an investor eighteen years ago and built up a portfolio of 126 single-family homes and duplexes. He renovated the properties to lease, and his property management career began. Six years ago, he began managing properties for other individuals, but he is still his biggest client. He manages properties that he owns, which makes him the property manager everyone wants to be. His business of management is running his assets, which puts him in the top tier, probably the top 1% of property managers in the country. His company doesn’t have a 401K for its employees. He decided to go a different way and teach them how to invest and manage properties, and as of right now, his staff owns about 25 units. Mike is one of the speakers at the <a href="https://pmmcon.com/" rel="nofollow" target="_blank">Property Management Mastermind Conference</a> in March 2020. Listen as he reveals the topic of his presentation and a sneak peek of some of his key talking points. He will discuss how your company can benefit from bringing your maintenance in house and the best software to bring it all together and so much more. Have you purchased your tickets yet? Don’t hesitate; Mike is just one of the many high-level speakers that will be at the event. Listen in for a small taste of what you can expect when a group of elite property managers get together in one place. If you already have your tickets, great! If not visit the <a href="https://pmmcon.com/" rel="nofollow" target="_blank">PMMCon.com</a> and get them now before they are sold out, this is one conference you won’t want to miss. Show Notes [02:22] Mike, welcome to the show! [03:08] Mike talks to us about how he got into property management. [04:08] He speaks about his alternative way of helping his staff save for retirement. [05:57] Mike discusses the mastermind group he formed with five other people. [07:42] They discuss the topic Mike will talk about at the <a href="http://www.pmmcon.com" rel="nofollow" target="_blank">Property Management Mastermind Conference.</a> Making Money in Maintenance. [13:09] Mike will have some excellent deliverables for the people who attend his presentation. [14:18] What did you take away from the <a href="https://10times.com/narpma" rel="nofollow" target="_blank">NARPM Conference</a> that you are excited to use? [16:31] Ancillary fees were implemented in Mike’s company in the last year, and they have helped the bottom line. [18:08] Mike will talk about best practices and markup vs. margin at the PMMCon. [19:28] Bring in house everything that doesn’t require a license when it comes to maintenance. [20:50] What software do you use to run maintenance estimates? Do the techs have tablets? [23:13] Mike says he is most excited about the black-tie event at the conference. [23:56] They talk about presentation ideas for other meetings. [25:15] Scott Brady asks the question, “How can you run a property management business without any management fees”? [27:26] Operational management is conducting maintenance at a high level. [27:58] They chat about Mike going to Madrid, Spain, to his business and come up with new ideas. [29:07] See you in Las Vegas, thank you for coming on the show! Links and Resources: <a href="https://www.propertymanagementmastermind.com/" rel="nofollow" target="_blank">Property Management Mastermind</a> <a href="https://www.facebook.com/groups/PMMastermindGroup/" rel="nofollow" target="_blank">Property Management Mastermind Group on Facebook</a> adisarro@sccombank.com (619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank) <a href="https://sccombank.com/" rel="nofollow" target="_blank">Seacoast Commerce Bank</a> <a href="http://imgadvisors.com/" rel="nofollow" target="_blank">Insurance Management Group</a> (918) 728 8992 (Derek Scott with Insurance Management Group) <a href="https://www.zinspector.com/" rel="nofollow" target="_blank">zInspector</a> <a href="https://www.filtereasy.com/" rel="nofollow" target="_blank">FilterEasy</a> <a href="https://www.propertymeld.com/" rel="nofollow" target="_blank">Property Meld</a> <a href="https://www.linkedin.com/in/richard-drake-6912139a/" rel="nofollow" target="_blank">Richard Drake</a> <a href="https://www.narpm.org/conferences/state-conferences/southern-states-conference/" rel="nofollow" target="_blank"> NARPM Southern States Conference</a> <a href="https://www.naahq.org/" rel="nofollow" target="_blank">National Apartment Association</a> <a href="https://www.narpm.org/education/narpm-accounting-standards/" rel="nofollow" target="_blank"> NARPM Accounting Standards</a> <a href="https://www.linkedin.com/in/kevinmortner" rel="nofollow" target="_blank">Kevin on LinkedIn</a> For the Property Management Mastermind Conference information <a href="https://pmmcon.com/" rel="nofollow" target="_blank">https://pmmcon.com/</a> For the Business Development Mastermind Seminar <a href="https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385" rel="nofollow" target="_blank"> https://www.eventbrite.com/e/bbc-business-development-mastermind-tickets-70402370385</a> <a href="https://bizdevmastermind.com/" rel="nofollow" target="_blank">Bizdevmastermind.com</a>

Mike Schraepfer – Making Money in Maintenance

Mike was first introduced to entrepreneurship and construction through his father, and eventually led to him purchasing his first homes. Since then, Mike has become a force to be reckoned with in the industry.

Mike was first introduced to entrepreneurship and construction through his father, and eventually led to him purchasing his first homes. Since then, Mike has become a force to be reckoned with in the industry.

84: Helping Your Employees Become Investors with Mike Schraepfer

Welcome to the Good Life Property Management podcast! I’m your host, Steve Welty. This is a show for property management entrepreneurs who want to build not only great business, but also great lives. I’m here to help you gain the freedom to live life on your own terms while creating a positive impact in the world. Also, please check out  Steve Welty's Music! Mike Schraepfer is a super savvy broker, owner, and investor from Minnesota. We connected by chance on Facebook, and I was intrigued by his ideas on investing in real estate with a team. I’m happy to say that he’s willing to share that information with everyone in today’s episode, so don’t miss this one! As he explains today, Mike started out “backwards” by being an investor first when he was 18. He then got into renovation and construction, and backed into property management from there. He started on the MLS, he explains, and started off with college rentals since he was a student and that was the market he understood. Now, he personally owns over 125 homes, and the entire portfolio averages over a 10% cap rate. When Mike wanted to keep the best talent at his company, his first thought was that he wanted to help his staff invest in properties too. This would both help them financially and encourage them to keep working with Mike. He created an investment class for them, as well as a system to take away some of the financial barriers to investing in property. In our conversation, Mike explains this 9-unit class and how it works. He’ll talk about how he works on finding a property to buy as part of the class, as well as what happens next once he’s found the property. His goal, he explains, is to take his students through all the motions so they overcome the barrier and realize that buying a property is simpler than they might think. He’ll touch on all these steps throughout our conversation, so this is a great place to start if you’re interested in implementing something like this at your company! In This Episode: [00:14] - Welcome to the show! Today, Mike Schraepfer is here to share some of his thoughts on investing in real estate with a team. [01:48] - We hear about who Mike is personally and professionally, and how he became a property manager. [03:30] - During the economic downturn, how was the market impacted in Duluth as opposed to other places? [04:47] - Mike talks about whether his portfolio is single-family homes, duplexes, or triplexes. [05:57] - We hear about how Mike came up with the idea of helping his team to invest in real estate, and what it looked like early on. [08:03] - When Mike set up his class, did everyone jump on board, or were only some people interested? [09:14] - We hear more about the class itself. [10:39] - What does property-hunting look like for Mike, specifically when it comes to finding properties for his classes? [12:31] - After Mike finds a property for one of his classes, what happens next? [14:03] - Mike shares some information on his buying criteria, and talks about ways in which he avoids gambling. [17:15] - We hear about how Mike holds title to the properties from the classes, and whether he has any partners. [19:01] - How many properties did Mike need to have before a bank let him close as an LLC? [22:28] - Steve points out that particularly hungry team members can go and find deals but may not qualify for a bank loan, which can lead to creating opportunities for each other. [23:53] - Are there any pitfalls or lessons that Mike learned along the way? [24:45] - Is there anything else culture-wise that Mike has done to become successful in his business? [25:50] - Mike explains another initiative that he created to be a strong neighbor within the community. [27:55] - What benefits has Mike seen, and how did they come up for him? [29:57] - Mike talks about the flexible unlimited vacation time that his company offers. Links and Resources:  Steve Welty's Music steve@goodlifemgmt.com Steve Welty on Facebook Tribe Mastermind  Mike Schraepfer on LinkedIn Mike Schraepfer on Facebook Heirloom Property Management  Heirloom Property Management on Facebook  The Great Game of Business by Jack Stack

Welcome to the Good Life Property Management podcast! I’m your host, Steve Welty. This is a show for property management entrepreneurs who want to build not only great business, but also great lives. I’m here to help you gain the freedom to live life on your own terms while creating a positive impact in the world. Also, please check out <a href="https://open.spotify.com/artist/7uLdcNXsoaZ5HUy6JCDorv" rel="nofollow" target="_blank"> Steve Welty's Music</a>! Mike Schraepfer is a super savvy broker, owner, and investor from Minnesota. We connected by chance on Facebook, and I was intrigued by his ideas on investing in real estate with a team. I’m happy to say that he’s willing to share that information with everyone in today’s episode, so don’t miss this one! As he explains today, Mike started out “backwards” by being an investor first when he was 18. He then got into renovation and construction, and backed into property management from there. He started on the MLS, he explains, and started off with college rentals since he was a student and that was the market he understood. Now, he personally owns over 125 homes, and the entire portfolio averages over a 10% cap rate. When Mike wanted to keep the best talent at his company, his first thought was that he wanted to help his staff invest in properties too. This would both help them financially and encourage them to keep working with Mike. He created an investment class for them, as well as a system to take away some of the financial barriers to investing in property. In our conversation, Mike explains this 9-unit class and how it works. He’ll talk about how he works on finding a property to buy as part of the class, as well as what happens next once he’s found the property. His goal, he explains, is to take his students through all the motions so they overcome the barrier and realize that buying a property is simpler than they might think. He’ll touch on all these steps throughout our conversation, so this is a great place to start if you’re interested in implementing something like this at your company! In This Episode: [00:14] - Welcome to the show! Today, Mike Schraepfer is here to share some of his thoughts on investing in real estate with a team. [01:48] - We hear about who Mike is personally and professionally, and how he became a property manager. [03:30] - During the economic downturn, how was the market impacted in Duluth as opposed to other places? [04:47] - Mike talks about whether his portfolio is single-family homes, duplexes, or triplexes. [05:57] - We hear about how Mike came up with the idea of helping his team to invest in real estate, and what it looked like early on. [08:03] - When Mike set up his class, did everyone jump on board, or were only some people interested? [09:14] - We hear more about the class itself. [10:39] - What does property-hunting look like for Mike, specifically when it comes to finding properties for his classes? [12:31] - After Mike finds a property for one of his classes, what happens next? [14:03] - Mike shares some information on his buying criteria, and talks about ways in which he avoids gambling. [17:15] - We hear about how Mike holds title to the properties from the classes, and whether he has any partners. [19:01] - How many properties did Mike need to have before a bank let him close as an LLC? [22:28] - Steve points out that particularly hungry team members can go and find deals but may not qualify for a bank loan, which can lead to creating opportunities for each other. [23:53] - Are there any pitfalls or lessons that Mike learned along the way? [24:45] - Is there anything else culture-wise that Mike has done to become successful in his business? [25:50] - Mike explains another initiative that he created to be a strong neighbor within the community. [27:55] - What benefits has Mike seen, and how did they come up for him? [29:57] - Mike talks about the flexible unlimited vacation time that his company offers. Links and Resources: <a href="https://open.spotify.com/artist/7uLdcNXsoaZ5HUy6JCDorv" rel="nofollow" target="_blank"> Steve Welty's Music</a> <a href="mailto:steve@goodlifemgmt.com">steve@goodlifemgmt.com</a> <a href="https://www.facebook.com/steve.welty.9" rel="nofollow" target="_blank">Steve Welty on Facebook</a> <a href="https://www.tribemastermind.com/home" rel="nofollow" target="_blank">Tribe Mastermind</a> <a href="https://www.linkedin.com/in/mike-schraepfer-4995b226/" rel="nofollow" target="_blank"> Mike Schraepfer on LinkedIn</a> <a href="https://www.facebook.com/profile.php?id=13922674" rel="nofollow" target="_blank">Mike Schraepfer on Facebook</a> <a href="https://rentwithheirloom.com/" rel="nofollow" target="_blank">Heirloom Property Management</a> <a href="https://www.facebook.com/HeirloomPropertyManagement/?eid=ARB-w9fuXb_llrP5oVPQQwDBF5VU_AITIeyDv1xMPSPCkj_Ta5gQ8x4ruUW9icyYrN54shD2wUv1Nr1k&amp;timeline_context_item_type=intro_card_work&amp;timeline_context_item_source=13922674&amp;fref=tag" rel="nofollow" target="_blank"> Heirloom Property Management on Facebook</a> <a href="https://www.amazon.com/Great-Game-Business-Expanded-Updated/dp/0385348339" rel="nofollow" target="_blank"> The Great Game of Business by Jack Stack</a>

Creating an Unstoppable Culture w/ Mike Schraepfer