W
e cover a lot of ground today.
Brian Lee Shields and his partner acquired a small property management business in December 2019.
You know what happened 3 months later.
Well, Covid notwithstanding, Brian implemented lots of internal improvements at the business and bolted on a second acquisition.
Just two and a half years into the journey, he exited for a premium when 2 strategics showed interest at the same time.
A sampling of the topics in today's rich conversation with Brian:
- How to gently implement new tech into an inefficient paper- & process-heavy business.
- Transforming such a business into one that can be remotely managed. (By the end of his ownership, Brian was running his San Francisco business from his new home in LA.)
- Property management as a target industry for searchers, and what the opportunity is.
- Why buying into an industry you already know allows you to move quickly.
- To sell or not to sell, should you be given the opportunity sooner than expected.
- How to adapt to an environment that isn't as hard-charging and high-achieving as you might be used to.
- And, burnout. Make sure you listen to the end where Brian hits the wall after pushing himself to the limit.
OK, please enjoy this conversation with Brian Lee Shields, buyer-then-seller of 2 property management businesses in San Francisco.
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