In this episode of "Real Deal Investing", hosts Jerron Kelley, a seasoned real estate attorney, and Larry Mastropieri, a real estate broker and agent, talk with Danny Schwab, the CEO and Owner of KeyRenter South Florida.
The discussions explore various aspects of real estate investment and property management, with a strong focus on building solid relationships, understanding tenants' needs, and creating effective management strategies. Danny, an experienced property manager, emphasizes the importance of patience and empathy when dealing with difficult tenant situations, including evictions and financial hardships. He shares stories where he helped tenants avoid eviction through creative solutions like “cash for keys,” aiming to maintain respectful, professional relationships while ensuring his properties are well-managed.
Danny stresses the value of thorough lease customization, learning from each unique situation to create a “living document” that addresses specific issues and responsibilities clearly. He believes that managing tenants well means educating them and adapting the lease based on real experiences, which ultimately fosters trust and mutual respect. When acquiring new properties, he sees proper screening and understanding of tenants’ backgrounds as essential to avoid future conflicts.
Looking to the future, Danny plans to expand his property management business in Florida, aiming to bridge operations between Jacksonville and South Florida through strategic acquisitions. His long-term goals include more real estate development, particularly transforming neglected properties into valuable assets, which he finds fulfilling.
Throughout, Danny highlights the importance of a strong support network, including reliable attorneys, real estate brokers, and a well-trained team. He attributes much of his success to these partnerships, along with a personal commitment to honest communication and consistent client referrals. In addition, Danny’s involvement in networks like BNI has helped him build connections and expand his business. Ultimately, his approach combines practical strategies with a people-centered perspective, allowing him to create positive outcomes for tenants and investors alike.
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