My Home Manager

Mike's journey from real estate agent to successful entrepreneur highlights the importance of identifying opportunities, building client trust, and efficiently leveraging technology. He transitioned from managing a few homes to creating a property management company and later expanded into contracting to ensure quality service for his clients. His focus on client relationships, transparency, and the use of technology has been critical to his success.

Just as Mike carefully planned his business expansions, financial planning requires foresight, adaptability, and a focus on long-term stability. Whether managing investments, saving for retirement, or ensuring your business thrives, a well-thought-out plan is crucial to achieving financial success.

Enjoy the interview!

John Lyons: All right, Mike, let's start from the top. Tell me a little about yourself and

how you came to create your companies. And what drove you to take that

entrepreneurial step?

Mike Riggerio: During my last semester at Rutgers Business School, I fell in love with all

aspects of real estate. Shortly after graduating, I pursued my passion and became a real estate agent in 2014, and I'm still in the same office today, originally with Gloria Nilson at Berkshire Hathaway in Rumson, NJ. As a realtor, I enjoy showing and selling homes because it allows me to offer personalized services to each client. It also gives me the freedom to shape how my clients perceive me and my business. My first major opportunity came when I sold a house on Long Beach Island. After the sale, the homeowner, living in New York City, asked me to check on the property periodically since it was a secondary home. This informal arrangement to maintain the relationship eventually led to regular visits and expanded into new opportunities. About six months later, the homeowner referred a friend with a similar request. This time, I developed a basic plan for scheduled home checks, offering a flat monthly fee tailored to each homeowner’s needs. This personalized approach marked the beginning of my property management company, providing reliable and customized service for each client.

John: How did you transition from managing a couple of homes to forming a company

and hiring staff?

Mike: As I mentioned before, my entrepreneurial spirit drove me to become a real estate agent. I wanted to be my own boss and run my own company. As the number of clients grew, I saw an opportunity to do just that. After acquiring my second customer, I formed an LLC, created a website, and formally structured the business. Initially, it was just me, but as we gained more clients, I hired home managers to ensure we could address issues quickly and maintain our service quality.

John: What was your hiring process for bringing on new home managers?

Mike: I focused on referrals from trusted colleagues and friends rather than mass job postings. I wanted to ensure the hiring of trustworthy and professional individuals. Before officially bringing them on board, I took potential hires on my day-to-day tasks to see how they handled the responsibilities.

John: Managing a growing team can be challenging. How do you manage your home

managers and set expectations?

Mike: We use a professional property management system that creates a custom template for each home. Home managers conduct detailed inspections, complete reports with photos and notes, and send these reports to homeowners. This system ensures transparency and keeps homeowners informed. Home managers are assigned homes geographically to maximize efficiency.

John: You also started a contracting company. How did that come about?

Mike: The contracting company was a natural progression from property management. Often, clients asked us to oversee renovations. Initially, we worked with external contractors, but after some unsatisfactory experiences, I formed my team. This allowed us to ensure quality and reliability as we managed the properties on-site.

John: What's the key to your success in managing both property management and

contracting businesses?

Mike: Our clients appreciate our trustworthiness, attention to detail, and constant

communication. Being on-site and directly involved ensures projects are completed to the highest standards. Another key to the success of my property management and contractor companies is the effective use of technology. We utilize a specialized app that enables homeowners to monitor everything happening in their homes, from security cameras to Ring doorbells. What if clients don't have these systems in place? In that case, we partner with a company that installs comprehensive security measures inside and outside the home, including window security, cameras, Ring doorbells, and more.

John: Do you set specific goals for your business or focus more on maintaining client

satisfaction and letting growth happen naturally?

Mike: While we set goals, our primary focus is delivering exceptional service and treating our clients like family. This approach has driven our natural growth, and we believe it will continue to do so as we expand.

John: What are you most proud of in your business journey, and what are your future

goals?

Mike: I'm proud of the peace of mind we provide our clients and the strong relationships we've built. Our future goals include maintaining our current level of service and exploring expansion into New York City and South Florida. We're looking for the right partners to help bring our vision to these new areas.

John: Last question, what advice would you give someone looking to start a business?

Mike: Follow your passion and look for opportunities where you can provide value. If you're genuinely interested in what you do, it won't feel like work, and you'll naturally strive to improve and grow.