RE #86: Brandon Laughridge - Owner of North Terrace Property Management

Today Chris chats with Brandon Laughridge, President of North Terrace Property Management (NTPM) located in Kansas City. Brandon is accountable for doubling the business' units since acquiring the business in 2017. On this episode, he and Chris discuss Brandon's background working in SEO, starting a digital marketing firm, his process of acquiring NTPM, the explosive growth of Kansas City, and some property management horror stories. Enjoy! 

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(02:39) - Brandon’s Background

(05:27) - Did you have any SEO experience walking into that first job?

(06:00) - When you left in 2009, did you start your own company or move into another job?

(08:03) - How did you come to the decision that it was right to walk away from the business at such a young age?

(09:00) - What was Spread Effect?

(10:25) - How long after you stepped away from the business did you decide to sell?

(11:16) - What did you learn from that experience?

(13:21) - Why did you decide to buy a property management company?

(20:32) - How big was the business at the time you bought it? How did you value it when deciding what to pay?

(22:32) - What was the first day like after you purchased the business and stepped in as the operator?

(25:06) - What was it like surprising everyone as the true undercover boss? How were you able to smooth things over with folks who might've been resentful?

(26:40) - Did the owner have an earn-out of any kind?

(26:56) - Was the previous owner engaged for those last 9 months? How did that relationship pan out?

(28:18) - What is the size of the business today?

(28:25) - Why is managing a single-family home harder than managing multi-family units?

(29:37) - Has it been organic growth or was there a strategy in place?

(31:15) - Are most of your clients professional investors or would they be 'mom and pop' style?

(32:02) - Do you take a long-term approach when buying?

(34:30) - Is there any technology you’ve implemented that is making the business more profitable?

(37:28) - Is there anything that COVID has presented that forced you to either temporarily or permanently shift?

(40:38) - How do you think about the business for the next ten years?

(42:34) - Do you have a property management horror story?

(45:11) - Are you on the Kansas or Missouri side of KC?

(45:54) - Why do people choose to live on one side or the other?

(46:37) - Why is Kansas City experiencing the success that it has lately?

(50:00) - Is there a main industry that is the draw to that city?

(51:23) - Do you have a morning routine?

(53:10) - What’s the best advice you’ve ever received?

(55:38) - Do you have a book you’d recommend?

Book: King of Cash - Christopher Winans

(56:33) - What's the best way to contact you? 

Brandon's Twitter