Welcome back to the REI Mastermind Network! In today's episode, titled "How to Run Rental Property for Profit and Peace of Mind with Terrie Schauer," we have a special guest joining our host, Jack Hoss. Get ready to gain some valuable insights and strategies from real estate expert Terrie Schauer.
Terrie believes that there isn't a one-size-fits-all answer when it comes to real estate, and she has found her niche in property management, specializing in poorly managed properties owned by older landlords. With a focus on the Montreal market, which shares similarities with New York in terms of rent control and protected tenants, Terrie explains how implementing strict rental laws and policies can greatly improve property management and remove problematic tenants.
But it's not just about addressing property management. Terrie highlights the importance of cutting expenses, finding value-adds, and setting goals to increase revenue and provide value. She also shares her insights on mental training and the power of mindfulness in the real estate industry and beyond.
In addition, Terrie addresses the impact of the pandemic on the industry and how it has affected tenants in low-income areas. She reflects on the government's reaction and believes that the lockdown and support measures have led to addiction and mental health problems, which will have long-term consequences.
To maintain professionalism in property management, Terrie shares valuable advice on communication practices, setting boundaries, and using technology to create a seamless experience for both landlords and tenants.
So get ready to dive deep into the world of property management, mindfulness, and professional communication with our insightful guest, Terrie Schauer. Let's get started with episode 497processed of the REI Mastermind Network!Connect with Terrie Schauer: mindfullandlord.com