After quite a long run of service in the non-profit sector, Jim Elfline decided it was time for a career shift and to start his own business, so he did his homework.
Denver-raised Elfline graduated from Drake University in Des Moines, Iowa, before earning a master’s degree in public administration from the University of Colorado. The latter led to an 18-year career in non-profit advocacy and health and human service organizations, chiefly with the Multiple Sclerosis Society.
Fulfilling as his work was, Elfline finally decided to shift into starting a for-profit business. His research into potential concepts had him considering franchises in a broad range of industries, from printing to home restoration. But a for-profit side gig Elfline already had up and running would ultimately guide the decision.
“I came across Keyrenter, and it caught my eye,” Elfline explains. “My wife and I owned and managed our own rental property. After doing a little more digging into the idea of property management, we decided it was the best fit for a few reasons.”
“First, I understood the rental market and leasing and maintaining homes,” he says. “I’m a firm believer that investing in real estate over time creates wealth.”
“Second, I like that it has the opportunity to create additional sources of revenue. It’s not just the property management, but since you’re also in real estate there are a number of options to generate income. You can help investors buy additional properties, sell their investments, and use the opportunity to purchase our own investment income properties. It is really a great model and industry to be in.
Elfline found these multiple revenue streams more appealing than other business concepts that, in his words, “just sell widgets.”
So, in 2015, Elfline launched Keyrenter Premier Property Management. He began managing properties across a territory that includes, Scottsdale, Tempe, Chandler, Mesa, and Phoenix, among other areas.
Narrowing the Field to One
Within the property management sector, a big reason Elfline says he chose Keyrenter is that the company embraces owners who are entrepreneurs.
“They create the environment to help you succeed,” he says. “A lot of franchise models are like buying a job; you’re just a salesman. But with Keyrenter, you really are starting your own business, and they give you the tools to be successful.”
Meeting Keyrenter’s COO Nate Tew and CEO Aaron Marshall during the discovery process also helped make the decision easy.
“They are really earnest and passionate entrepreneurs,” says Elfline. “From the very beginning, they give you a high level of support and interaction.”
From zero properties before starting his business, to a portfolio of more than 150 properties today, Elfline has harnessed the power of his own entrepreneurial drive and the support of the Keyrenter system to achieve significant success.
Elfline looks forward to when his wife, who is presently employed in another field, can become more involved in the business.
In his spare time, Elfline, who has two teenage children, competes in triathlons, golfing with his son, and loves to snow ski. “I use triathlons as an excuse to exercise,” he says. “If I didn’t have a goal, I wouldn’t do it.”
The goal oriented Elfline achieved his objective with Keyrenter and continues to set and reach new goals.