Property Managers, you get what you pay for with Paul Shannon

Welcome to Real Estate (Un)Success Stories. From contractors to property managers, Cody’s guest in this episode has learned lessons, both with and from them, and he’s found out through the “School of Hard Knocks”, that you indeed get what you paid for.

 

 

Paul Shannon spent his career as a sales leader and consultant for a large ophthalmology company, implementing surgical devices into operating rooms and health systems across the Midwest. Since leaving his corporate career in 2019, Paul has acquired over 100 single family and multifamily units by recycling his equity and/or joint venturing. He recently successfully refinanced 100% of his capital out of a 40-unit apartment reposition and has rolled the proceeds into a similar sized distressed property in Indianapolis.

 

 

Paul has experience in acquisitions, raising capital, property management, project management, and is a licensed Realtor in Indiana.

Along with being active in his business, Paul is a passive, limited partner in over 1,400 multifamily units, numerous industrial offerings, and ATMs.

 

 

Key Takeaways:

 

• Get up off the mat and get back at it. Learn from the mistakes you made and apply the lessons that you learned. Try again.
• You get what you pay for when hiring a contractor.
• Take the lessons you’ve learned, apply them to where you can scale. Get rid of the things you don’t want to do but, understand those functions well enough to where you can manage the manager.
• Go through the “School of Hard Knocks”.
• There’s something to say about starting small.
• Find a mentor. Find someone that’s already, “done it”.

 

 

Reach out to Paul via LinkedIn or his organization’s website.

 

 

Thanks for listening to The Real Estate (Un)Success Stories podcast.  Help someone hear the challenges we went through so they can avoid the same mistake by sharing this episode or listen to our previous episodes. Please don’t forget to leave a review and 5-star rating on your favorite podcasting platform.

 

 

Vendue Capital is on the Web and, you can connect with our host, Cody Lewis on LinkedIn.

 

Production services for The Real Estate (Un)Success Stories podcast are provided by Downtown Podcasting. To start a conversation on how you can have a podcast, simply send an email to info@downtownpodcasting.com.