Peter Lohmann breaks down why managing 800 rental units means replacing 96 of them every year just to stay flat. A 12% annual churn rate is the math nobody mentions when scaling a portfolio past 1,000 doors.
Anyone who's over 500 doors, you know, your churning is just brutal. If you're at like 800 doors and you're churning 12% a year, which would be really good, that would be 96 doors a year just to stay at 800 doors. If you want to get to 1,000 or more, you have to somehow overcome that.
Yeah, it's definitely a serious operation. And I will tell you, like, I was flipping houses in college, so knew nothing about growing teams, operational stuff. And so definitely has been failure after failure, you know, growing pains, um, but I think right now we're in a place where we've got a really good leadership team at a high level can operate the business.
