How Corey Scarpa Doubled His Property Management Business Without Paid Ads

Corey Scarpa (00:00)

I’ve just kind of viewed myself more of a farmer rather than a hunter. all of my business has come from referrals. I haven’t paid for any marketing whatsoever. almost all of that business, referral wise, comes from the local Tulsa Real Estate Investors Association, which I help run the Facebook page and the monthly events.

Meghan Escobar (00:53)

Hello everyone, welcome back to Real Estate Pros Podcast, hosted by Investor Fuel. I am your host, Meghan Escobar, and today I have the pleasure of sitting down with a fine gentleman who is out here just growing and scaling, 2Xing his business year after year. And I want to bring him on here to share with you guys what it is that he’s been doing and how he’s been able to scale in the vast level that he has.

Corey Scarpa, welcome to the show.

Corey Scarpa (01:22)

Hey, thank you for having me.

Meghan Escobar (01:24)

Welcome, So owner and founder of Scarpa Properties, been in the game since 2014, currently managing 140 doors by himself, guys. So Corey, for those of you that might not know or understand what property management is, do you mind giving us a 30,000 foot view of what your focus is these days?

Corey Scarpa (01:45)

So my specialty is property management. and for those that aren’t super familiar with it, we deal from everything from A to Z. So we go in, we do a pre-acquisition inspection, we check out the property, see what we have to do to get to housing quality standards, make those repairs or requirements, get the marketing photos.

list it for lease similar to how you’d list a property for sale. do the tours, screen the applicants, do the lease, ongoing management, maintenance inspections, distributions, 1099s, the whole nine yards.

Meghan Escobar (02:17)

So that sounds like a lot of responsibility for one person to take on for a hundred and forty doors. Can you tell us how you’re able to keep that machine running smoothly?

Corey Scarpa (02:30)

by myself is a bit of a misnomer. I have accounting teams that we pay different companies, I got a four man accounting team that we utilize and you have a 1099 admin that helps us and a 1099 build tech. He’s a boots on the ground, he’s a good sign runner. Spotlights is a handyman.

and then I rely really heavily on my relationships with my third party contractors, my plumbers, HVAC companies, things like that. And then we run a really large tech stack. we use 13 different pieces of software. and of course, all of those come with their own point of contacts or supports as well. and to answer your question, checklists and systems are honestly the biggest thing for us.

Meghan Escobar (03:11)

That makes sense. I know a lot of folks that I talk to, in this space, in business in general, it’s really about putting systems in place. I hear that all the time. Can you dive a little deeper into what you mean by that?

Corey Scarpa (03:24)

so checklists and systems, just kind of taking every little wheelhouse that you have and saying, okay, what do we have to do to get from point A to point Z? it’s almost like a decision tree, at least in the property management space. I kind of touched on it briefly. You have kind of that pre-sales, type of thing where someone calls me.

We’re having a discussion. We’re going out to the property. and we’re going through, maybe a checklist that again, housing has given us those housing quality standards. and then, after we finish that pre-sales cycle, we’re in the leasing cycle. What does that look like? What does everything have to do to get to A to Z in that? and then same for ongoing management.

you have subcategories, how does a tenant do a maintenance request? What are those steps inside of that one circle on a 12-month lease? And so we have a lot of new little nuance that we have to follow. And our technology, especially nowadays, has really helped us maintain that.

Meghan Escobar (04:22)

I’m assuming that you have incorporated in those thirteen software programs some form of AI?

Corey Scarpa (04:28)

Absolutely. I’d be shocked if everyone isn’t using AI to some degree, at least a Chat GPT or a Claude to maybe help with some emails and text at the very least. But yeah, with the thirteen different pieces of technology that we run, I would say most of them have some kind of an AI associated with it. just to kind of help with those little nuances, those small repetitive

tasks. and so it frees me up to focus on the big potato stuff.

Meghan Escobar (04:56)

Awesome. Well, I know that you over the last two years have 2X the business year after year. That’s a pretty incredible thing to do, especially in this climate where a lot of people are scared of the real estate world. it’s a buyer’s market, it’s not a seller’s market.

and for you in the Tulsa, Oklahoma area, how do you feel that you have been able to accomplish that?

Corey Scarpa (06:00)

I’ve just kind of viewed myself more of a farmer rather than a hunter. all of my business has come from referrals. I haven’t paid for any marketing whatsoever. almost all of that business, referral wise, comes from the local Tulsa Real Estate Investors Association, which I help run the Facebook page and the monthly events.

We have about 30,000 people on the page and the events range anywhere from fifty to a hundred of people depending on the month, depending on the topic. And so just coming from education contribution, I got really involved into it about four years ago. and so I think, in recent years, I’ve been able to kind of reap what I’ve sowed, so to speak.

And, I call longtime listeners, first time callers. They are people that said, I had one this past week. He said, Hey, uh, I met you three years ago at a REIA It’s the only REIA that I had ever gone to. I met you. You seem like a genuine guy. I liked what you had to say. I think I’m ready to make a transition from self managing to professional property management.

Meghan Escobar (07:02)

That’s huge. and it sounds like you’re a big part of the way that you’re growing your business is through networking, being consistent in networking and getting in the rooms and constantly educating people about what you’re doing. What would you say has made the biggest difference for you when it comes to networking? And I think this is something that’s really important for our listeners because of the simple fact that, like we talked about AI, we’re in a digital world.

That’s vastly growing and important to grow and scale a business to a certain extent. But I also think some people are shying away from the importance of shaking hands and getting in rooms and creating that human connection. Is that something that is still a big part of how you’re able to

Corey Scarpa (07:44)

Absolutely. I think real estate in general is a relationship based business. I started out when I got licensed with Keller Williams and our operating principal, Sherry Lewis, you’d always say belly to belly, nose to nose. that’s what gets stuff done. I agree wholeheartedly, I think being able to, go into these rooms, shake people’s hands, meet face to face, you’re not just a name on a screen.

I think that’s really important. And those relationships, being in those rooms have, helped me grow. And, I think the most important thing on these networking things is a lot of people go into these rooms and you’re like the kid at the cafeteria, you enter the cafeteria for the first time, you look around, you try to find the table with your friends.

and that’s great and all, but people tend to look for that comfort. And they really need to expand to say, hey, you know what? I’m not gonna just stand in the corner and drink my drink and watch the show go on. I’m gonna go out and just have some conversations. it’s not as bad as you think it is. And honestly that contribution, if you really want to get the most out of it, you get what you put in. Like with me with the REIA

I’m physically helping set up these events. I’m helping run these pages. And if it weren’t for that, I wouldn’t see the kind of growth that I’ve had.

Meghan Escobar (08:57)

Thank you for sharing that. I think it’s so important for people to understand the power behind having conversations with strangers. I really love how you, put that analogy in place. you want to look for the comfortable table. What’s comfortable for you? But the end of the day, one thing that I’ve learned from my mentors is nothing grows in comfort. So until you’re ready to step outside of the box and

rip that band-aid off, have the conversation, say hello, introduce yourself. You just never know who’s gonna be on the other side of that conversation and how they might be able to help you scale or teach you something that you just never knew. So important. And you’ve been in the game long enough to probably experience some situations,

So one thing that I always do like to bring up in these shows too was there a moment that throughout your journey where things got real or a deal that had gone sideways or a time that you had to pivot really fast?

Corey Scarpa (10:29)

constantly. this industry, especially property management, it is such a trial by fire. you think you know it all and you just you do not. someone will always surprise you in this industry. And I think a lot of people, they’re an agent, maybe they’re used to dealing with buyers or sellers or a wholesaler

what I tend to tell people is, take your worst buyer, take your worst seller. tenants can be ten times worse. they surprise you. rubbing peanut butter on the walls for their dogs to lick off, just the wildest things you’re just like, what in the world are you thinking?

Meghan Escobar (11:02)

That is an interesting thing. they have toys.

Corey Scarpa (11:05)

that was their dog’s form of entertainment. they literally took a jar of peanut butter, scooped it out, smeared it on the wall, and that’s just insane.

Meghan Escobar (11:13)

I’m gonna agree with insanity on that. that’s a bit crazy. So what do you think it is that’s kept you motivated and going after dealing with crazy stories like that where you’re like it’s still worth it instead of going and getting a job.

Corey Scarpa (11:26)

there’s something about being an entrepreneur, you get it if you get it and you don’t if you don’t. But I work a lot more than 40 hours a week. I could get a nine to five somewhere making decent money. I did before I got into this industry. there’s just something very fulfilling about

Just my job in general. being an entrepreneur, yes, there’s something fulfilling about having something grow and putting in that grit. And, it’s not for someone else, it’s for you. But just the job that I have, landlords, property managers, today socially we get a bad rep. people don’t like their mean old landlords,

And I just find something very fulfilling about providing good, safe, reliable housing. I enjoy, I genuinely love what I do and despite just the random chaos and interactions that you may have, I genuinely enjoy the people and just doing what I do.

Meghan Escobar (12:18)

That’s amazing. I think a lot of people go throughout their life not living that purpose-filled life. So I would say keep going until you find it. So it sounds like for you, doing the day-to-day stuff isn’t really work because you have so much love and passion for it.

Corey Scarpa (12:33)

Yes. I’m very blessed that I’ve found myself falling into this industry and doing what it is. I love it. I really do.

Meghan Escobar (12:40)

That’s amazing. And probably why you don’t mind doing all the work that you’re doing, but at the same time, Corey, what is the next big goal for you? I know we talked a little bit about that, but you mind sharing with the audience where you’re going next.

Corey Scarpa (12:55)

So for the longest time my goal has been to get to 200 doors. And I’m fast approaching that. I started the year with a hundred. I’m at 140 now. I think I’ll probably end the year close to that 200. And for me, the justification was well, at 200 doors, I can afford a second me, someone who deserves to get paid what they deserve to get paid.

And is just very capable at doing what they’re doing. but in the last three years, my business has doubled year over year um for the past couple years and AI and stuff has really, really come in it. And as I approach those 200 doors, I think I’ve kind of realized that I don’t really want a second me. nor do I think that it’s fair to expect someone to be a second me.

I realize that what I do and that I love doing what I do is unique. And I don’t think it’s fair to put that kind of burden to wear 20 hats on someone. And so, as I approach that 200 doors, I think I can actually do a lot more with more people, have someone wear their one to three hats and do their specific job, whether that’s leasing or applications or renewals.

Just find those exceptional people that just do their one thing just exceptionally well. and I don’t have a new unit count quite yet. It’ll probably be like five hundred doors will be that goal. But like I said, for the longest time it was to get to 200, and I’m really excited to approach that.

Meghan Escobar (14:19)

Sounds good. So it’s just adding more people to the team to allow you to free up the time for you to do what you’re really good at. they’ll focus on what they’re really good at. and that will more than likely get you to your goal faster.

Corey Scarpa (14:33)

Absolutely.

Meghan Escobar (14:33)

Sweet. Well, thank you for sharing all of that. I really appreciate the time that you took to, come on here, share your journey, share your perspective. We definitely need more people in the space that are doing things the right way. And I love that, creating human connection and networking is still a huge part of what you’re doing and incorporating the digital world into your business. I mean

Corey Scarpa (14:58)

Absolutely. Yep,

Meghan Escobar (14:59)

Best of both worlds.

Corey Scarpa (15:01)

it’s not one or the other.

Meghan Escobar (15:02)

there’s room for both, folks. So I appreciate you coming on here again. Thank you for tuning in. And for those of you that are listening and got any value from this, please be sure to hit like and subscribe. We got more conversations coming in with operators just like Corey. And before we wrap things up, Corey.

If someone listening in wanted to connect with you, maybe they need a property manager in the Tulsa area or they just want to learn about how you started and grew your business, how do they get in touch with you? Are you on socials?

Corey Scarpa (15:35)

social media. I’m really big on Facebook. so just look me up, Corey Scarpa, or go to our website, scarpaproperties.com both ways are easy to reach out to me and I’d love to have the conversation. I love talking with mom-and-pops or other owner operators or property managers out there. And like I said, I come from contribution, so I love talking with people.

Meghan Escobar (15:54)

He’s a farmer, folks, not a hunter. So he’s willing to have a conversation without vetting.

Corey Scarpa (16:00)

Yep, absolutely.

Meghan Escobar (16:03)

All right. Well, thanks again, Corey. We’ll go ahead and wrap up this episode and we’ll see you on the next one.

Corey Scarpa (16:10)

See you then. Appreciate it.