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First Rate Property Management Blog

Who's #1 in Residential Income Properties

Who's #1 in Residential Income Properties

It was just over ten years ago that I joined Swope Investment Properties. Prior to joining Swope Investment Properties, I, through First Rate Property Management, managed many of Mike Swope's properties. Mike and I had also invested in some four-plexes together. It's been probably the best business decision I have ever made and I'd like to share why, but first I'd like to tell you what Swope Investment Properties has done over the past decade.

Swope Investment Properties continues to be #1 in residential income sales according to the Intermountain Multiple Listing Service. Over that past decade (2004-2014), Swope Investment Properties has sold nearly 230 million dollars in rental properties within Boise and the surrounding areas. What's more impressive, is that 2nd, 3rd and 4th places are huge brokerages with hundreds of agents. Mike Swope tops the leader board as the top producing residential income agent for that same period. Yours truly, Tony Drost, was the 4th highest producing agent for residential income properties for 2014 as well as over the past decade. Mike tends to focus on the bigger apartment complexes, whereas I tend to do smaller multi-family properties, so that if the client so chooses, First Rate Property Management can be there to support the investment. Below is my 2014 production:




# Sold










    4 plexes


    Apartments *






    Building Lot


    Single Family Homes






    Office space *






* includes listings, part ownership or client referrals



The main reason I asked Mike if I could sell under his brokerage, was because in my opinion, there was no other person in this town that knew and still knows more about financial performance of rentals in this area. I knew I'd be learning from the best. The 2nd reason was because after working with him on his own rentals for over 6 years, I knew that he was an honest person who put serving his clients' interests far above anything else. That's the business philosophy my dad taught me as a young boy. I would offer to mow our neighbors' yards or shovel their driveways. When they asked, "How much?" I would recommend that I do the work first and they could evaluate the job I did and pay me whatever they felt was fair. I don't know if that made me more or less money, but I remember how great I felt at the end of the day.

Since joining Swope and becoming an associate broker, I've learned a lot from Mike in just about every aspect of the job. Mike and the whole group have been good to me and my family. I would not be where I am at today, if it were not for Mike Swope.


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