180: Why Ben Sold to Rhome

OverviewIn this episode of The Profitable Property Management Podcast, host Jordan Muela has an in-depth discussion with Ben Sencenbaugh, founder of Realty Medics, about growing his property management company over the past 10 years before a recent acquisition. They cover Ben's journey from starting with just 200 doors to now managing over 1600, implementing systems and processes, lessons learned along the way, work/life balance as an entrepreneur, and finding the right buyer to acquire his business.Topics and GuestsBen Sencenbaugh, Founder of Realty MedicsGrowing a property management business over 10 yearsImplementing systems and processesUsing marketing tactics like radio and direct mailMaintaining profitability while scaling a businessSelling a property management companyChange management and leading teamsAchieving work/life balance as an entrepreneurFinding the right buyer for an acquisitionRelevant Links and ResourcesRealty Medics - https://realtymedics.com/Profitable Property Management Podcast YouTube Channel - https://www.youtube.com/@profitablepropertymanagement/LeadSimple Software - https://leadsimple.com/Danny Craig, Profit Coach - https://profitcoach.com/Jeremy Pound, RentScale - https://www.RentScale.com/Key Moments00:02:32 Ben shares the story of growing from 200 to 1650 doors in 10 years00:07:36 Implementing Podio in 2016 to organize processes00:12:18 Focusing on foreclosures and rehabs in the early years00:17:28 Starting radio ads and direct mail campaigns00:26:26 Bringing on Pam Kawasaki to refine branding and messaging00:31:08 Ben talks about his ability to build customized processes and software00:34:46 Starting with automating the renewal process first00:39:54 Sitting with employees to solve issues with new systems00:45:44 Implementing a customer service call center for incoming calls01:06:41 Not having a defined "end game" but being open to acquisition01:12:24 Learning about planning the "way down" after a sale01:16:33 Seeking an acquirer that would be the right fit to take care of staffFor more content like this, be sure to subscribe to the Profitable Property Management Podcast YouTube channel. You'll find videos of full podcast episodes with Jordan Muela and other great guests from the industry.