034: What No One Tells You About Selling Your Property Management Company with Pete Neubig

From The Stacey Salyer Show: Buying & Selling Property Management Companies · 46:05

Show by Stacey Salyer

In this episode, I’m joined by Pete Neubig, co-founder and CEO of VPM Solutions and former co-founder of Empire Industries Realty & Property Management, to talk about what it really looked like to build, grow, and eventually sell his property management company. Pete started Empire at 41 and grew the company from roughly 60 doors to nearly 1,000 single-family units across three Texas markets before selling to Mynd Management in 2019. But the path to that exit was anything but straightforward. Pete and I talk about what happened when he and his business partner developed different visions for the future of the company, why he ultimately agreed to sell even though selling wasn’t what he wanted, and what he wishes he had understood about life after the transaction. We also get into the deal itself, including negotiating terms, payout structures, stock, and clawbacks, and why sellers need to think carefully about how the buyer plans to integrate the company during a transition. Pete also shares why continuing to grow before an exit can increase the value of your business and why knowing what comes next for you personally can be just as important as preparing the company for sale. What You’ll Learn in This Episode:✔️ How Pete grew Empire Industries from a small management company to nearly 1,000 single-family units across three markets✔️ Why expanding into new markets too early created costly lessons for Pete and his team✔️ What can happen when business partners no longer share the same vision for the company✔️ Why Pete ultimately agreed to sell even though exiting wasn’t what he personally wanted✔️ Why the purchase price isn’t the only part of a deal you can negotiate✔️ What sellers should consider when negotiating payout terms, stock, and clawbacks✔️ Why the length of a clawback should be considered alongside the buyer’s integration timeline✔️ How major operational changes after an acquisition can affect client retention and the seller’s final payout✔️ Why continuing to grow before an exit can increase the value of your property management company✔️ Why acquiring another portfolio or company can be a powerful growth strategy when preparing for a future exit✔️ Why Pete says every owner should know what they want to do next before selling✔️ How selling a business can affect your identity and sense of purpose even when the transaction is financially successful✔️ How Pete’s experience after selling eventually led him back to entrepreneurship and the creation of VPM Solutions More About PetePete Neubig is the co-founder and CEO of VPM Solutions. Before launching VPM Solutions, Pete co-founded Empire Industries Realty & Property Management in Houston, Texas, growing the company to nearly 1,000 single-family units across three markets before selling it to Mynd Management in 2019. After the acquisition, Pete joined Mynd as Vice President of Eastern Operations. Today, Pete leads VPM Solutions, a platform that helps property management companies find, hire, train, and pay global team members. He is also the host of NARPM Radio and continues to serve the property management industry through education, speaking, and entrepreneurship. Connect With Pete Website: https://www.vpmsolutions.com/Email: [email protected]: https://www.linkedin.com/in/pete-neubig/NARPM Podcast: https://www.narpm.org/ Connect With Stacey Website: https://www.staceysalyer.com/Facebook: https://www.facebook.com/the.stacey.salyer/Instagram: https://www.instagram.com/stacey.salyer/LinkedIn: https://www.linkedin.com/in/stacey-salyer-39254012

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