Preview Mode Links will not work in preview mode

The Money School Podcast shares the secrets of the wealthy, so you learn how money really works and take back control of your life!

You'll hear the inside story of wealthy entrepreneurs and investors... breaking down how they got started, how they think about money, how they put money to work for them, and how you can change your life simply by doing ONE thing differently with the money you already have.

Through the podcast, you'll become your own bank - mastering how money really works - so you can use it to gain the upper hand and take command of your finances. After all, building wealth isn't about resources, it's about being resourceful. 

Hosted by Chris Naugle, former pro snowboarder turned real estate investor, serial entrepreneur, and money mentor, this podcast has one mission - to show you how money really works so you can reclaim control of your life!

Oct 31, 2019

Running a successful investment operation, even in property management, requires a consistent and effective business mindset. Why is it important to plan ahead for any potential challenges or crises we may face? What does it take to maximize our profitability? When it comes to partnerships, how can we make sure we’re working with the right people and planning for the future?

On this episode, we’re joined by expert investor, broker, property manager, and speaker Mark Ainley. He shares his personal journey in building his successful business, appearing on The Deed and how best to approach working partnerships.

Property management is becoming its own sector, and with technology and different efficiencies, it’s becoming scalable.
- Mark Ainley


Three Things We Learned

Too many partnerships can erode any success faster than a bad deal

It’s better to partner up with a few select and trusted partners on all of our deals. Otherwise, we end up with an extremely messy business, and a lack of consistency can harm our profitability and trust with our clients.


Plan ahead for partnership challenges 

Partnerships don’t always end well, and these splits are often complicated and costly. It’s critical to plan for the potential end for a partnership from the onset, with operating agreements beneficial to all parties. We need to know the procedures, and inevitable consequences, of dissolving a partnership.


Overspending on property will destroy our profitability

Following a max-offer model and buying for the right price will always put us in a more financially stable position. Overpaying, even by just a small amount, will add up across our property portfolio and hurt our bottom line. 


Mark’s success as a property manager is that he thinks and operates like an investor. If we’re not thinking like business owners with a long-term vision, we can create many challenges for our business. A visionary entrepreneur will partner up with the right people to facilitate long term success, not short term profits. Planning for potential challenges ahead of time, allows us to maintain a high level of service for our customers.