004: Warren Phipps Shares Why You Need to Spend Money to Make Money

Tanya Appel talks with Warren Phipps of Mountain Park Real Estate, located in Calgary, AB. They discuss rental properties, the laws surrounding them, and how spending a little on Property Management can save you more than you think!

Introduction

Warren Phipps is the owner of Mountain Park Real Estate in Calgary, AB. Founded in 2010, Mountain Park Real Estate’s innovative business structure combines the services of both a brokerage and a property management company in order to best meet their client’s needs. Their mission is to ensure clients receive the best deals in every transaction, providing quality, personalized experience and services through professionalism and understanding of the market.

Prior to establishing Mountain Park Real Estate, Warren worked in the bar industry. When his eldest daughter was nearly born, he decided it was time for a change and pursued a career in real estate. His personable approach to business has greatly contributed to his current success as a broker and CEO.

Warren shares how Mountain Park Real Estate provides innovative services, providing clarity for both tenants and homeowners. He also explains how spending more can make you more.

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Key Points

  • [1:28] How did you enter into the business?
  • [2:06] What prompted you to create a brokerage in tandem with a property management company?
  • [3:00] What “need” did you see in the market?
  • [3:50] What makes Mountain Park Real Estate innovative in the industry?
  • [4:57] Can you expand on what kind of property management services you provide?
  • [6:07] Do you offer different levels of service?
  • [6:51] How has building a business during a time of economic uncertainty helped your clients in our current economic state?
  • [9:20] How would your services help those who have become unintended landlords?
  • [11:12] What is the typical fee for your service?
  • [11:53] On average, how quickly do you get a tenant into a property?
  • [12:38] What is the process like for the homeowner?
  • [13:54] Do you take care of factors such as repairs?
  • [14:40] Are these aspects usually discussed in advance?
  • [15:23] How is communication handled?
  • [16:50] Could you expand on your screening process?
  • [18:51] What is this process like for a tenant?
  • [20:27] What are some of the “routine tasks” performed by your company?
  • [23:54] How do you ensure great rental rates for tenants?
  • [25:53] What is your role in legal issues with tenants?
  • [27:51] Can you share one of your success stories?
  • [30:13] How can people contact you?
  • [31:00] What other areas is Mountain Park Real Estate located?

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Contact Warren