Manage to Exit

About Manage to Exit

Manage to Exit is a PMI Acquisitions Team podcast sharing practical playbooks for buying, building, and preparing your property management businesses for successful exits.

Publisher

PMI Acquisitions

Category

business · business

Language

en

Explicit

No

First episode

3 Jun 2026

Latest episode

4 Oct 2026

Latest episodes

10 episodes in the feed.

1. 

   4 Oct 2026

   Selling a Property Management Business in 2026: Valuation, Timing and What Sellers Get Wrong

   Is 2026 the right time to sell your property management business, or are you about to leave real money on the table? If you are a property management owner who is feeling burned out, wondering what your company is actually worth, or telling yourself you will sell in a few years, this episode is for you. Aaron McElhinney and Hunter Goodall of PMI's acquisitions team pull back the curtain on what they are seeing in the market right now, including the story of a seller who waited too long and lost $1.2 million in value. In this episode Property management business valuation: why demand for valuations keeps growing (30+ valuations and 74 deals in progress this year) The right time to sell: burnout vs. market timing, and why a strategic exit beats a rushed one Why a record surge in seller leads is happening now How losing a key team member mid-sale affected a seller's price, and how transparency can offset the discount Why rushing the close hurts sellers, including the 15-day due diligence story Two sellers, two outcomes: the real cost of waiting too long The assignable contracts scramble and why you should start prep early Why PMI is not a business brokerage and how buyer and seller matching really works Roll-ups, stabilization, and why your buyer is probably down the street Whether interest rates, elections, and world events really move your valuation This episode is for you if You own a property management company and wonder if now is the time to sell You are burned out but not sure whether to keep growing or exit You want to know what your business is worth before you make a decision You are thinking about buying a property management business and want to understand the seller side Timestamps 0:00 - Cold open: "transparency is critical" 0:38 - Welcome back, and this episode's topic: selling in 2026 1:02 - By the numbers: 30+ valuations and 74 deals in progress this year 1:43 - Why the need for valuations keeps growing 2:17 - When is the "right time" to sell: burnout vs. market timing 3:38 - The seller lead surge: a record high last month 4:26 - Strategic exits vs. burnout sales, and giving yourself a runway 5:14 - Why rushing the close hurts sellers (the 15-day due diligence story) 6:39 - A real case: losing a key team member mid-sale 8:22 - Why seller transparency builds buyer confidence 9:19 - Inside a real deal: reworking $50K into extended seller pay 11:32 - Two sellers, two outcomes: the cost of waiting too long 13:50 - Not every sale is a retirement 14:19 - The assignable contracts scramble: a lesson in starting prep early 15:35 - The Gulf Coast owner who took the advice 16:59 - "Coal to the fire" or sell now: there is no in-between 19:18 - Deal volume, and why PMI is not a business brokerage 20:01 - Get your baseline, then plan your runway 23:25 - Roll-ups, stabilization, and how PMI matches buyers and sellers 27:14 - Busting the myth: your buyer is probably down the street 27:48 - Does the state of the world affect your valuation? 33:10 - Interest rates, the Fed, and the case for timing your exit 37:20 - The bottom line: know your baseline before you decide Thinking about selling your property management business? Get a free valuation from PMI's acquisitions team: https://pmiacquisitions.com/business-valuation-calculator/?utm_source=spotify&utm_medium=podcast_description&utm_campaign=manage_to_exit&utm_content=ep10_selling_in_2026 Manage to Exit is the property management business acquisitions podcast from PMI, hosted by Aaron McElhinney and Hunter Goodall. Each episode covers buying, selling, valuing, and growing a property management company. #PropertyManagementBusiness #BusinessValuation #SellingYourBusiness #ExitStrategy #PropertyManagementAcquisitions #ManageToExitPodcast #PropertyManagement #MergersAndAcquisitions

2. 

   24 Sept 2026

   We Took Our Top Buyers to Cabo. Here's What Happened.

   Every year, PMI's property management acquisitions team rewards the franchise partners who close $1M+ deals with an exclusive trip. This year: Cabo, Mexico. Aaron McElhinney and Hunter Goodall recap what happened, and why the trip keeps getting bigger. What you'll learn: How the "President's Circle" reward trip has grown from 2 franchise partners in Hawaii to a planned 30 couples in Turks and Caicos Why the "mastermind" sessions, structured deal talk among $1M+ buyers, became the most valuable part of the trip The transition and team retention challenges buyers face after closing a deal, and how PMI's roughly 100-person support team helps One franchise partner's path from a $100,000-$200,000 first deal to a $30 million business valuation in about four years A surprise run-in with two more franchise partners in Cabo, who weren't even on the trip Timestamps (paste into the video description as-is): 0:00  Cold open: chasing eight-figure exits 0:36  Welcome to Manage to Exit, and what this episode covers 1:08  The President's Circle trip: from Hawaii and Cancun to Cabo 2:10  How the reward trip has evolved, and who qualifies 5:29  Inside the mastermind sessions: buyers trading playbooks 9:24  Compensation, retention, and career paths for acquired teams 13:54  PMI's ~100-person support team and the "who not how" approach 17:38  The buyer network keeps growing (and the Live Oak financing call) 19:45  One partner's path to a $30 million valuation 22:45  Running into franchise partners in Cabo: the Hans and Steve story 27:19  Looking ahead to Turks and Caicos, and sign-off Own a property management business and thinking about your next chapter? Talk to PMI's acquisitions team about what selling could look like: https://pmiacquisitions.com/?utm_source=youtube&utm_medium=video_description&utm_campaign=manage_to_exit&utm_content=ep9_presidents_circle_cabo #PropertyManagementAcquisitions #ManageToExitPodcast #PMIAcquisitions #BusinessAcquisitions #MergersAndAcquisitions #PropertyManagementBusiness

3. 

   28 Aug 2026

   17 Years, 750 Units, One Exit: Selling a Property Management Business

   After 17 years and 750 units built entirely by word of mouth, Tom and Kathy were ready to slow down. The question that shaped everything that came next wasn't how much — it was who. In Episode 8 of Manage to Exit, Aaron McElhiney and Hunter Goodall sit down with Tom and Kathy, a Sarasota, Florida couple who built their property management business over 17 years and recently sold it to PMI franchise operators Steve and MJ. This is a real seller's story, told from the other side of the table. Tom and Kathy explain what finally triggered their decision to sell — a succession plan that fell apart, and an introductory email that landed at exactly the right moment — and why they turned down bigger offers from competitors to choose the buyer who felt like the right fit. They walk through the parts of an exit most owners never hear about: a due-diligence sprint to lock in SBA financing before a federal government shutdown, a deal that included not just management contracts but real estate, vehicles, and a 35-person team across two countries, the delicate timing of telling employees, and the first-90-days philosophy of changing as little as possible. They also share what life looks like after the sale — staying on to run the multifamily book, and finally making time for grandchildren, travel, and that long-promised new wreath for the front door. Their parting advice for any owner thinking about an exit: it isn't about the money. Find a good fit, treat your people well, and aim for a win-win. Chapters: 00:00:00 — Cold open: change one thing, and it affects fifty 00:00:36 — Welcome: meet the sellers and a well-earned break 00:02:12 — Seventeen years in, one priority: protecting the client base 00:03:05 — What sparked the sale: a timely email and a plan that fell apart 00:07:12 — Why PMI won the deal: “I never heard a complaint about them” 00:10:40 — Local owner, national muscle: past the “big corporate buyer” myth 00:15:51 — The process and the paperwork: building trust, then racing the shutdown 00:18:34 — More than a book of business: real estate, vehicles, and the team 00:19:55 — Telling the team: timing, trust, and keeping everyone employed 00:22:39 — Post-close reality: software systems and the first-90-days rule 00:26:22 — The owner's new role: staying on and the first six weeks 00:31:48 — Life after the exit, and words of wisdom for future sellers Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep5&utm_content=ep8_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward.

4. 

   27 Aug 2026

   We Paid Out $18M to 27 PM Owners in 2025 (Here's How)

   In 2025, 27 property management owners split $18 million. Here's how the year actually happened — and why 2026 could be even bigger. In Episode 7 of Manage to Exit, Aaron McElhiney and Hunter Goodall go hosts-only for a transparent 2025 year-in-review. No spin, just the real numbers: 27 transactions across 25 buyers for $18 million, an average deal of $880,000, a record close of just under $3 million in South Florida, and a smallest deal of $66,000. They set out to hit a $20 million stretch goal, came within a whisker, and are now leaning into 2026 with $7 million already under contract and a $50 million target. Along the way they unpack what actually drove the year: a model where 500 local franchisees do the buying, a consolidation trend producing larger regional companies, why nearly every buyer is a local operator (which makes for a faster, cleaner transition), and how the right SBA lender and creative seller financing got deals done. Most of all, they make the case that selling a PM business is not the finish line. It is the capital and the confidence to go buy something bigger. If you own a property management business and have ever wondered what it is really worth, who is buying, and what you would do next, this is the episode. Chapters: 00:00:00 — Cold open: sell this, go buy something bigger 00:00:23 — Introducing the hosts and the 2025 recap 00:00:57 — The stretch goal: how aiming for $20M produced an $18M year 00:03:06 — Setting the 2026 goal: from $18M to $50M 00:04:32 — The franchisee model: how 500 local operators close so many deals 00:05:08 — 2025 by the numbers: 27 deals, $18M, and a record $3M close 00:08:23 — Consolidation and the rise of larger PM companies 00:13:24 — Why buyers are local and increasingly experienced 00:16:42 — Why selling to an operator means a faster, cleaner transition 00:18:56 — Financing the year: SBA, Live Oak Bank, and creative seller terms 00:23:38 — Seller financing works best on a foundation of trust 00:25:07 — The bigger vision: $50M, 326,000 companies, and no broker fees 00:27:32 — The seller's next chapter: from PM to bigger ventures Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep5&utm_content=ep7_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward.

5. 

   6 Aug 2026

   Why You Can't Trust ChatGPT to Value Your Property Management Business

   Can ChatGPT tell you what your property management business is worth? A seller recently tried — and the number came back $300,000 too high. In Episode 6 of Manage to Exit, Aaron McElhiney and Hunter Goodall go hosts-only for a short, direct conversation about two things that quietly cost property management buyers and sellers real money: relying on AI to value a business, and choosing the wrong banking partner for an acquisition. On the AI side, they explain why ChatGPT is a useful starting point but a dangerous authority — it doesn't have access to the off-market closed-deal data that actually drives valuation, it's agreeable by design, and it anchors sellers to numbers the market won't pay. With 450+ closed transactions behind them, Aaron and Hunter show where AI helps, where it misleads, and why value is built on cash flow and EBITDA, not gross revenue. On the lending side, they break down a real New York deal that stalled for months under a general SBA lender — and how switching to a bank that specializes in PM acquisitions turned a stuck deal into a 45-day close. The lesson: 'SBA preferred' does not mean the right bank for your deal. If you're buying or selling a property management business, this episode will save you from two of the most expensive mistakes people make. Chapters: 00:00:00 — Cold open: AI, valuation, and the right banking partner 00:00:35 — Introducing the hosts and the show 00:00:51 — Story time: when ChatGPT valued a business $300K too high 00:02:50 — How to actually use AI in a valuation (without getting burned) 00:07:30 — Why the off-market data gap makes AI valuation unreliable 00:11:07 — The New York deal: why the wrong bank kills your timeline 00:13:36 — Choosing a lender: relationship, trust, and industry fit 00:16:11 — The PMI advantage: lending relationships that scale to franchisees 00:19:47 — Closing: the right banking partner is critical Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep5&utm_content=ep6_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward.

6. 

   19 Jun 2026

   Buying a Property Management Company: What We Get Asked Most

   What does it actually take to buy or sell a property management business ? And what are the questions the PMI acquisition team gets asked every single week? After 450+ closed transactions, Aaron McElhiney and Hunter Goodall have heard them all. In Episode 5 of Manage to Exit, Aaron and Hunter go hosts-only for the first time and answer the 12 most common questions they receive about buying and selling property management businesses. No guest, no script, just the team that facilitates more PM acquisitions than any other group in the country giving direct answers. They cover what a PM business is actually worth and why cash flow — not doors and not revenue — is the number that matters, how to increase your valuation before selling (including the two-week vacation stress test), how long the process realistically takes from first conversation to close, why confidentiality protects both sides and when to finally tell your team, whether you need a broker and when to skip the 10–12% fee, the three buyer profiles and which one gives you the best price and the smoothest transition, how to structure seller financing the right way, why buying beats building from scratch, how to find deals without a listing app or a broker, and how SBA financing works for your first acquisition. If you have ever had a question about buying or selling a property management business — and wondered who to ask — this is the episode. Chapters: 00:00:00 — Cold open: don't buy a business alone — stakes, risk, and the expert case 00:00:35 — Introducing the hosts and the Q&A format 00:00:52 — Q1: What is a property management business actually worth? 00:06:15 — Q2: How do you increase your valuation before selling? 00:11:22 — Q3: How long does it take to prepare and close a deal? 00:13:00 — Q4: Should I keep the sale confidential — and for how long? 00:18:27 — Q5: Do I need a business broker to sell? 00:23:37 — Q6: Who are the right buyers for a property management business? 00:29:55 — Q7: How do I structure the deal — and what does seller financing look like? 00:43:00 — Q8: Buy vs. build — which is the smarter path into PM? 00:47:15 — Q9: How do I find the right business to buy (and what are the red flags)? 00:55:07 — Q10: How do you finance a PM acquisition? 01:01:13 — Q11: Should your first deal be in your own backyard? 01:03:39 — Q12: Franchise vs. independent — what is the real advantage? 01:09:06 — Closing: the single biggest mistake to avoid Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep5&utm_content=ep5_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward.

7. 

   19 Jun 2026

   Why Your Property Management Business Is Worth Less Than You Think

   What does it actually take to sell a property management business for what it's worth ? And what are buyers and banks actually looking for when they evaluate your books, your contracts, and your clients? In Episode 4 of Manage to Exit, Aaron McElhiney and Hunter Goodall sit down with James Phillips, Executive Director of Residential and Commercial Property Management at PMI Corporate — the person inside PMIA who has seen more PM business transactions than almost anyone in the country, for a candid, inside-view conversation about what actually makes a property management business sellable. They cover what 'triple tie-out' means and why unreconciled trust accounts are an immediate deal-killer, how non-assignable management contracts can force a deal structure change that costs the seller thousands, why a 200-door portfolio with diversified revenue can be worth more than a 500-door portfolio earning only management fees, and the one accounting mistake — counting gross rents as your own revenue, that leads sellers to believe their business is worth hundreds of thousands more than it actually is. They also introduce the conversion office model: a path for PM operators who aren't ready to exit yet to join PMI, access James's operations team, and build toward a larger exit through guided acquisitions rather than selling now at a lower number. If you own a property management business and have ever thought about selling — whether that's in 6 months or 6 years — this episode tells you exactly what to do before you start any conversation with a buyer. Chapters: 00:00:00 — Cold open: clean books are the foundation of every good exit 00:00:36 — Introducing the hosts and guest: James Phillips, PMI Executive Director 00:03:43 — James's role, PMI's scale, and the local-buyer franchise model 00:08:18 — How PMI's acquisition team works and why new franchisees can do seven-figure deals 00:12:01 — Preparing to sell: trust account compliance, triple tie-outs, and red flags 00:16:43 — Software, standardised agreements, and assignable contracts 00:22:55 — Revenue diversification: why door count is the wrong scorecard 00:28:32 — Conversion offices: the 'grow first, sell later' path into PMI 00:33:55 — Client-to-property ratio: the hidden risk metric every seller ignores 00:43:07 — Accounting deep-dive: gross rents, journal entries, and forensic accounting pitfalls 00:51:26 — 2026 outlook: $20M to $50M, multi-pillar expansion, and commercial growth 00:57:31 — Closing: changing lives on both sides of the transaction Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep4&utm_content=ep4_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward.

8. 

   19 Jun 2026

   How One PM Franchisee 10x'd His Business in 6 Months Through Acquisition

   What does it actually take to grow a property management business beyond the organic grind? And what can two strategic acquisitions do in six months that two years of networking cannot? In Episode 3 of Manage to Exit, Aaron McElhiney and Hunter Goodall sit down with Peter Jackal, owner of PMI Aspire in Colorado, for one of the most candid conversations yet about what acquisition-led growth actually looks like on the ground. Peter built his business organically for two years to reach 120 doors. Then, in the span of six months, he closed two back-to-back seven-figure acquisitions, and became the largest residential PMI franchisee in the country. They cover why public listings attract the wrong kind of buyer, how Peter's trust-first approach won over a seller who had been burned by Wall Street-style acquirers, why the team you acquire matters as much as the contracts, and the one thing Peter wishes he had known about working capital before he closed. He also shares the mindset framework, drawn from Dan Sullivan's 10x thinking and the BHAG concept from Jim Collins, that let him say yes to a second seven-figure deal just weeks after signing the first. If you are a property management executive thinking about growth through acquisition, whether you are at 100 doors or 500, this episode is the honest conversation no one else is having. Chapters: 00:00:00 — Cold open: the power of mindset over fear 00:00:47 — Introducing the hosts and guest: Peter Jackal, PMI Aspire 00:02:16 — Peter's organic growth story: 120 doors the hard way 00:03:40 — Deal #1: navigating a public listing and beating bigger buyers 00:09:12 — Trust, LOI discipline, and closing at the agreed price 00:11:27 — Building the acquisition team: who not how 00:14:28 — Mindset and the leap to a seven-figure first deal 00:20:10 — The 10x moment: two deals in six months 00:25:59 — Why acquirers should buy teams, not just doors 00:29:23 — Deal #2: Kelly's blessing, fast growth, and a new goal 00:38:41 — Lessons learned: working capital, churn, and the first 90 days 00:43:43 — What Peter is looking for in his next acquisition 00:46:14 — Advice for fence-sitters: organic vs. acquisition growth 00:52:35 — Operating in a tough market: mindset in a regulatory headwind 00:56:23 — Closing: gratitude, goals, and the BHAG mindset Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep3&utm_content=ep3_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward.

9. 

   10 Jun 2026

   How to Buy Multiple Property Management Companies (Without Running Out of Money)

   What does it actually cost — and what does it take — to finance a property management business acquisition in today's market? And what just changed that every buyer needs to know before they sign anything? In Episode 2 of Manage to Exit, Aaron McElhiney and Hunter Goodall are joined by Jordan Coleman, SBA Lending Specialist at Live Oak Bank — the number one SBA preferred lender in the country — for a candid conversation about how PM business acquisitions are actually financed, what lenders are really looking for, and how the SBA's June 1, 2025 rule changes are reshaping the buyer landscape right now. They cover the mechanics of SBA loans in plain language (the SBA doesn't lend money — here's who does and why that matters), the new 5% cash equity requirement for first-time buyers and how sellers can structure notes around it, why Live Oak looks at door count trends and add-backs the same way PMIA does, why 95% of PMIA's closed deals are off-market and what that means for your financing timeline, and the $5M SBA runway misconception that is quietly limiting buyers who could be doing more deals. If you are a property management executive thinking about your next acquisition — whether it is your first or your fifth — this episode gives you the financing framework to walk into any bank conversation prepared. Chapters: 00:00:20 — Introductions and how PMI found Live Oak Bank 00:02:52 — What makes Live Oak different: industry focus over geography 00:05:11 — How SBA loans actually work (demystifying the guarantee) 00:08:06 — Deal trends: multiples rising, buyers outnumber sellers 00:11:30 — June 1, 2025 SBA rule changes: what first-time buyers must know 00:17:50 — Why franchisees make better SBA borrowers 00:22:30 — Off-market vs. on-market deals: why 95% of PMIA closings are off-market 00:30:00 — Add-backs, red flags, and financial due diligence 00:37:20 — Seller-owned properties, earnouts, and creative deal structures 00:40:29 — Including commercial real estate in SBA deals: terms, rates, and structure 00:46:30 — SBA runway, multi-deal buyers, and the 'stay in your market' rule 01:08:00 — What sellers need to know — and when buyers should call the bank Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep2&utm_content=ep2_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward. Episode 2 of Manage to Exit is on YouTube. (https://youtu.be/CEjw4r_GH3w?utm_source=transistor&utm_medium=youtube&utm_campaign=mte_ep2&utm_content=ep2_description_cta) If a PM acquisition is on your horizon this year, this is the financing conversation to watch before you make any moves.

10. 

    3 Jun 2026

    How to Buy or Sell a Property Management Company: Real Deals, Real Numbers (2026)

    What does it actually take to buy or sell a property management company — and what do the numbers really look like when a deal closes? In this first episode of Manage to Exit, Aaron McElhiney (Executive Director of Acquisitions, PMI Acquisitions) and Hunter Goodall, MBA pull back the curtain on two recently closed property management business acquisitions — each around $2 million — and walk through what made each deal work, where they differed, and what every buyer and seller should understand before entering the market. They cover the real difference between public listings and off-market deals (and why PMIA does 95%+ of its transactions off-market), how deal structures like seller financing and SBA loans actually work in practice, why buying a larger PM company is often smarter than starting with a small one, and what sellers do that unknowingly tanks their valuation. If you are a property management executive thinking about your next move — whether that is acquiring your first company, scaling through acquisition, or preparing your business for a strong exit — this episode is your starting point. Chapters: 00:00:00 — Cold open: the value hiding in your business 00:00:36 — Introducing the hosts and the show 00:01:30 — Public listing vs. off-market deals: why the difference matters 00:07:13 — Inside two real deals: consolidated portfolios, $2M exits 00:11:15 — Deal structure deep dive: seller financing, SBA loans, and creative terms 00:23:00 — Finding the right deal: sourcing, patience, and saying no 00:28:30 — Why buying a bigger PM company is often the smarter move 00:33:45 — The team is the asset: why acquirers buy people, not just doors 00:39:00 — What actually increases — or kills — your business valuation 00:48:40 — Multiples explained: stop Googling what your business is worth 00:54:00 — Confidentiality, trust, and how PMIA's process actually works 01:00:20 — The PMIA valuation tool, website, and what's coming next Ready to know what your business is worth? Book a free, confidential valuation call with Hunter ➔ (https://pmiacquisitions.com/book?utm_source=transistor&utm_medium=podcast&utm_campaign=mte_ep1&utm_content=ep1_description_cta) No broker fees. NDA-protected. Only you, Aaron, and Hunter until you decide to move forward. Episode 1 of Manage to Exit is on YouTube. (https://youtu.be/6zVHJal5fBk?utm_source=transistor&utm_medium=youtube&utm_campaign=mte_ep1&utm_content=ep1_description_cta) If a PM acquisition is on your horizon this year, this is the Property Management podcast to watch before you make any moves.

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Guest appearances

Books guests

Based on episode analysis; this does not confirm that the show is currently accepting guests.