The ABCs of Property Management: What You Need to Know to Maximize Your Money Now

The ABCs of Property Management: What You Need to Know to Maximize Your Money Now

by Ken McElroy

Paperback(Second Edition)

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So you've made your real estate investment...and now the question is: How are you going to make it profitable? How will you maximize its potential and make it grow in value? One word: Management. Hundreds of thousands know bestselling author Ken McElroy as a real estate investment tycoon. In this book, Ken reveals the key to his success: Exceptional property management. He teaches you the most important principles and keys to achieving success where others fail.


How to decide when to manage your property and when to hire someone to do it
How to implement the right systems and structures for your investment
How to manage and maximize cash flow
What to expect: A month in the life of an owner-manager
How to find the right property manager (and avoid the wrong ones)
How to assemble a superior management team

Product Details

ISBN-13: 9781937832537
Publisher: RDA Press, LLC
Publication date: 03/10/2015
Series: Rich Dad's Advisors (Paperback)
Edition description: Second Edition
Pages: 175
Sales rank: 162,401
Product dimensions: 5.90(w) x 8.90(h) x 0.50(d)

About the Author

Ken McElroy, Principal and Co-Partner of MC Companies, has over 26 years of
senior level experience in multifamily asset and property management,
development. Having purchased over $400 million in real estate in the past two
years, Ken brings a unique property management perspective when estimating a
property’s potential value. Ken oversees the company’s asset portfolio and leads
the day-to-day operations including financial and operating analysis, investor
relations and business development. An industry veteran, Ken has served in
leadership roles in multi-family asset and property management for more than
26 years. He is also an expert in development, project/construction
management, investment analysis and acquisitions/dispositions, as well as
business development and client relations.

MC Companies is a full-service real estate investment and property management
group that since 1985 has developed, built and managed multi-family housing
communities. Its current portfolio includes units in Arizona (Phoenix, Tucson,
Goodyear, Scottsdale, Green Valley, and Sun City); Las Vegas, Nevada; Portland,
Oregon; Oklahoma (Oklahoma City and Tulsa) and Texas (Austin, Dallas,
Houston, Plano, and San Antonio).

“The MC Companies combined core strengths create value and is the foundation
for the company we built. For us, a culture of partnership isn’t something we
hang on the wall. It’s something we actually live minute-by-minute when we
bring on a new property management contract, run the numbers on an
apartment community we’re thinking about buying or map out the strategic
direction for our company in the coming year. It’s our mutual respect, our
respective talents and our combined actions that come into play and create our
commitment to Sharing the Good Life with our families, friends, investors,
employees and our family of community residents."

Table of Contents

Foreword Robert Kiyosaki xi

Introduction xiii

Section 1 Should I Manage My Own Property of Hire Someone to Do It for Me? 1

Chapter 1 Size Doesn't Matter 3

Chapter 2 Property Management Systems 17

Chapter 3 Cash Flow Management 39

Chapter 4 A Month in the Life of an Owner-Manager 69

Section 2 How Do I Find a Good Property Manager? 83

Chapter 5 Not All Property Management Companies Are Created Equal 85

Chapter 6 Employees, Systems, and Structures: The Backbone of a Company 101

Section 3 How Do I Hire a Good Property Manager? 107

Chapter 7 Hiring a Good Property Manager or Management Company 109

Conclusion 123

Resources 125

About the Author 129

Customer Reviews