Peter Lohmann's Podcast
01:05:26 · Peter Lohmann, Dan French
[01:05:26] S0: You ever see those upside down org charts? I'm kinda [01:05:28] S1: getting Yeah. 100%. That's how it is. You know? It's it's cheesy, but it's actually... If you're a real servant leader, you actually have taken that into your heart and you understand it, and you understand leverage. If I can keep, if I can save everyone an hour of time in the whole team, well, boom, I just won a hundred hours this week, you know? So your your time is the most leveraged time. So if my... If I take my most leveraged time and have to think about how to build this tech thing, and I think I'm gonna build it better than AppFolio, who's spending a $150,000,000 per year on r and d, is real estate, which is tech, technology, which is software devs, product managers, designers, stuff I know I've seen. I I think that's the ultimate lack of humility. I I just don't... So if I'm an owner, I would wanna run away from those folks and go to the folks that are single-minded obsessed with owner with owner outcomes, and not building some fancy tech thing that is never gonna work as well as AppFolio anyway. So we're going full stack AppFolio. [01:06:27] S0: This episode is sponsored by AppFolio. We'll make sure this episode is not sponsored by our Folio because, yeah, a lot of episodes Or we talked
01:06:27 · Peter Lohmann, Dan French
[01:06:27] S0: This episode is sponsored by AppFolio. We'll make sure this episode is not sponsored by our Folio because, yeah, a lot of episodes Or we talked [01:06:35] S1: or who... You know, whoever you use, I think you should go, and and there's kind of a rebundling that's happening in in technology. Yeah. Which I think is good. There will be some point solutions that are amazing that continue to exist, but, anyway, it's all about the people. How do we find the people? Was that your question, Peter? [01:06:51] S0: My question is, like, how do you... The scaffolding that doesn't exist, how do you get these folks trained up and and... Yeah. Because I think a lot of property managers have a a talent pipeline opportunity. [01:07:02] S1: Yeah. I think I think there'll be some blend with getting best in class SFR folks because, look, now there has been a decade of people building out some really wonderful firms that I admire, both on the pure property management side and the institutional SFR property management side. So get some of them, but I think I think what we're gonna be uniquely good at is is getting multifamily talent in the door and helping them plug into a new program. And so they'll bring some of the some of the DNA from the multifamily space. And we'll, of course, have our DNA of how we built as a company for twenty years. And it'll kinda be this mash up, and then we'll have a Cambrian explosion.
01:07:40 · Peter Lohmann
[01:07:40] S0: Yeah. There there is an interesting... You know, you you mentioned a couple times to the show of, like, multifamily kinda coming down into BTR and and SFR kinda coming up into small and medium sized multifamily. There is a really interesting blend that's happening in the middle there, and I wonder which of the... I I wonder sort of, like, where the end game is there. Like, is it the case that single family... Because what we do is so much harder in a lot of ways because our properties are spread out all over the place. Like, are we going to disrupt and move up market and start eating away at the market share of the big multifamily guys because we just are so lean and gritty and we figured out everything the hard way? Or are they gonna come down into our space and be like, listen, idiots. We've been doing this for twenty years. Here's how you do things. Right? You have a leasing agent, you know, whatever their their opinions about how to do things. I wonder where... Like, if you picture, like, the battle lines, like, they're gonna kinda move back and forth. I wonder where that's all gonna shake out.
01:08:42 · Dan French, Peter Lohmann
[01:08:42] S1: Well, my prediction was one of the reasons why I joined Northpoint and see such big opportunities that we're we're uniquely poised at... We SFR to go up channel because, like, the innovator's dilemma is a book I I love. And when you have your business model, kind of everything gears up to just go take care of that that the... What what drives the most revenue in your business. And for large scale multifamily operators, that's everything that's in service of that 100 or 200 unit plus deal. So when you try to build something else that's downstream, the numbers aren't the same, you know, the the revenue is not the same. [01:09:19] S0: It gets for resources. Yeah. [01:09:21] S1: It gets starved for resources or it even, like, parts of the organization or organism will attack this other Yeah. New thing. So they have a real tough time. We actually tried to do this, and we got our our buzz kicked a little bit at my former com... Company. We had to, like, retreat and just say, alright. We're we're a 150 unit plus operator. This is what we do. Let's stick to it. And so I think the innovator's dilemma is gonna make it hard for the large guys to come down, and and it's gonna be comparatively easier for us to go up. [01:09:51] S0: I love that. I think I saw your LinkedIn post on that. I I enjoyed. I shared that around a little bit. I think there's really something to that. Of course, I would say that because I'm in SFR, so we're we're, you we're the good guys. We're gonna conquer all [01:10:02] S1: of it. No. Yeah. That's right.
01:10:02 · Dan French, Peter Lohmann
[01:10:02] S1: of it. No. Yeah. That's right. [01:10:04] S0: That's right. Awesome. Well, we're we're over an hour. That went by really fast, Dan. Really enjoyed talking with you, getting to know you better, and hearing about your story. So appreciate you coming on the show today. For people who wanna follow along with your journey in Northpoint, where is the best place for them to do that? [01:10:21] S1: Well, I'm a frequent poster on LinkedIn, perhaps annoyingly self. But yeah, it's been it's been fun. I've gotten great connections through there. So if you ever want to reach out, of course, do it. I always give out my cell phone number to like, hit me up, text me, let's exchange ideas. Or if you're an owner, and you have just some thoughts about your portfolio, I'd love to hear it. It's 8456291808. Awesome. So hit hit me up that way. [01:10:46] S0: Well, we appreciate that, Dan, and thanks again. This has been great. [01:10:50] S1: Peter, I'm a huge fan. Thank you so much, man. [01:10:53] S0: Alright. Thanks again. [01:10:54] S1: Thank you. [01:10:56] S0: I hope you have enjoyed this episode. If you like the show and wanna get connected to the community, you can follow me on Twitter at PS Lohmann and subscribe to my email newsletter on my website, peterlohmann.com. I try to share as much valuable property management content as I can on a regular basis. Thanks again for listening and have a great week.