All Forum Posts by: Brian Teeter

Hey everyone — wanted to open up a discussion that’s come up a lot lately in my conversations with owners and fellow PMs:

What’s the difference between a Property Manager and an Asset Manager?
And more importantly — should we, as property managers, be aiming to play both roles?

Property Manager – Day-to-Day Operations

Handles the operational nuts and bolts:

• Leasing and rent collection
• Tenant communication and screening
• Repairs and maintenance
• Evictions, legal notices
• Compliance and inspections
• Monthly rent and expense reporting

Goal: Keep the property occupied, compliant, and functioning smoothly.

Asset Manager – Long-Term Financial Strategy

Focused on increasing value and return over time:

• Setting investment targets (IRR, cash-on-cash, etc.)
• Market analysis and performance benchmarking
• Planning renovations/capital improvements
• Advising on refinance, 1031 exchanges, exit strategies
• Tax planning and portfolio diversification

Goal: Maximize ROI, equity growth, and long-term performance.

In short:

A property manager preserves an asset.
An asset manager grows it.

As property managers, many of us are already doing more than traditional “management” work—especially for investor clients who look to us for guidance.

So here are a few questions I’d love to hear your thoughts on:

• Do you market your PM services as “asset management”?
• Have you structured your reporting or client experience around ROI, not just rent collection?
• Do your clients expect you to advise on long-term strategy?

Looking forward to hearing how others are approaching this shift — or if you think the roles should stay separate.

Brian Teeter
Turnkey Property Management | Little Rock & Memphis
“Not just managing doors — managing portfolios.”

Im an investor, contractor and property manager in Little Rock, Arkansas.  I purchase and deal with a lot of to small MF myself.  Dont underestimate the power of "driving for dollars." Identify an area you like and study it.  Look for distressed properties / ones with heavy deferred maintenance within that area.  Use a tool like Deal Machine etc to identify property owner and reach out to them directly.  You will hear a lot of NOs, but all you need to do is hear one YES.  You might be surprised how well it works.  Good luck!

I work with a lot of BRRR buyers in Little Rock, Arkansas. Here, the most common mistakes I see DIY BRRR investors make are underestimating ARV and repairs. ARV typically comes back to bite the buyer when they go to refinance the property after renovations and learn that the actual appraisal fell short of the ARV they originally predicted. To get around this, I suggest hiring an appraiser on the from end of you purchase. Ask them for a "drive by appraisal" and present them with a list or scope of work for your intended repairs. Request a future value. Typically, they will provide you a partial appraisal at a reduced cost from standard. The appraisal will typically identify all the same comps as a full appraisal. That way you are looking at a more accurate value, through the eyes of an appraiser.

With regard to underestimating repairs, I often see DIY BRRR investors more focussed on cosmetics. I recommend having a professional home inspector inspect the home on the front end. Start creating your SOW from the inspection. Because they are focussed on cosmetics, I see a lot of DIY BRRR buyers blowing their budget because they missed important details like electrical, HVAC, plumbing, structural, foundation.

Hey Kimberly, Full disclosure: Im a property manager in Little Rock, Arkansas.  So maybe I am biased.  But my feedback is

1. The value of quality property management can’t be overstated.
It might seem like an “optional” expense, but a skilled and invested property manager is often the difference between an asset that works for you and one that drains you. I always tell clients: your manager is your business partner on the ground. If you don’t trust them or feel confident in their follow-through, the stress is constant — and profitability becomes guesswork. The fact that you’re having to follow up regularly is a red flag. A proactive manager should be providing market updates, adjusting pricing strategies, and keeping the unit marketable without you having to nudge every step. A good property manager should be be more like an asset manager!

2. Your instincts about capital redeployment are solid.
If the property is a consistent underperformer, and you’re doubtful about the market’s recovery in the next 3–5 years, it might be wise to exit — even at a loss — if it gives you liquidity to invest in a stronger, more familiar market like Nashville or elsewhere in the U.S., where you can leverage financing and build equity. Cutting losses isn’t failure — it’s a smart pivot when the fundamentals don’t justify the hold.

I own a property management company in Little Rock, Arkansas. I agree with John Doss above.  Also, if they are otherwise good tenants, you may as well try to salvage them, thus avoiding turnover cost. Turnover cost, lost rent, etc are one of the biggest killers.  You may get a better tenant or an increased rent, but could take many months or years to make up for the loss of the tenant turn.  

I suggest a new lease and raise rent to include lawn care. Additionally, I renew leases with a 3% increase annually.  Even with a 2 year lease, year two starts with a 3% increase.  So not a 3% increase for the term, but a 3% increase per year.  I use 3% so that it keeps up with inflation and mirrors our local, annual appreciation. 

Hey Sean, I am a licensed contractor in Little Rock with long track record and happy to help.  Thanks

I agree with Katie above.  Network and find a referral from other investors.  Look for a PM is also an investor/owner in your market. 

We are also in process of onboarding with Appfolio in our Little Rock and Memphis property management offices.  We are about 1 month in.  Yes, I share the same feelings and dont understand why the information and steps required is SO extensive! 

Good place to start...One of the most important things you can do is find a vet a good contractor (or subs).  Referrals are the best way to get started. But second, I suggest going to Home Depot and go the the Pro Desk.  Ask one of the reps there for a referral. They usually work with a lot of smaller contractors and know who has been in business the longest, their volume, etc and can generally direct you to someone worthy.  Another way is to simply drive around the area you are investing and actually look for remodeling/construction projects that are underway. Stop and talk with the contractor or get their contact info. Often times you will even be able to see their work while you are visiting with them on-site. This strategy has worked very well for me. In fact, my bets and most long time used contractor is one I found by simply stoping and inquiring.  Thanks and good luck. 

We dont offer profit sharing but rather offer incentives. For example, we offer incentives to our leasing staff for new leases, renewal leases.  Also offer incentives for our maintenance team to bring project in on budget and on time. This works well for us!