How to structure my business model?

Question

So me and my wife has a house buying company and a rental property business. We have had going on 3 years here soon, originally it was just me and one guy doing most of rehabs and construction stuff. We now have 15 properties, i went to a different model now having contractors do the majority or rehabs and i have handymen,plumber,electrician and hvac guy i can call when i need them. I manage pretty much it all and my wife does the bills and emails and such. To really grow and streamline all this whats the best way to really scale and get very organized?

Doug Shapiro · Answer

Hi Joshua,

My advice to you is to outsource as much as you can.  The value you and your wife have is finding and buying properties that are a good deal and I'm assuming would generate monthly cash flow.  All of your time should be dedicated towards this.  Here are a few ideas on how you can free up you and your wife's time:

1) Online portal for all rent payments and maintenance requests (this way everything is organized and handymen can be notified immediately what work is needed to be done and why)

2) Set up online billing if you have not done so already, with recurring payments or automatic payments.

3) Hire a virtual assistant(s) to answer calls, make calls, and do other work that anyone can do.

4) Keep track of how you spend your time currently so you know what changes to make first that will have the biggest impact.

Thanks!

David Cruice · Answer

Ben, an excellent post by @Jay Shapiro .  Rent Manager and Yardi Breeze are good PM systems.  If you haven't done so already, teach your contractors/handymen how to use their smartphones to their advantage to better communicate with you.  Whatsapp is a fantastic app for sharing vidoes, pictures, and voice messages.  You can also use it to communicate with your VAs, no matter where they are in the world.  Also, consider paying them via a payment app such as Google Pay or Venmo.  They'll love you for it.  Contractors love working for clients who pay them the quickest.

Joshua D. · Answer

@Jay Shapiro Awesome Jay great advice and have alot of that but need to outsource some stuff. Thanks Jay

Anyone else have pointers?