RCRE – Impactful Property Management with Luke Leins
Mike Taravella interviews Luke Leins from InvestRes to discuss property management, underwriting, and developing culture Luke Leins is the Director of Business Development for InvestRes Real Estate which has purchased 17,000 units, maintain $1.5B+ in assets under managementKey Information:
-InvestRes has been moving from investing and being vertically integrated to becoming a 3rd party property management
-Have a core purpose and always make business decisions that align with that purpose
-Multifamily is having a employment crisis because operators can’t find employees
-GetDone is a platform to allow maintenance techs to earn more side money AND allow properties to run leaner and handle work orders more efficiently
-Underwrite the deal from a top-down and bottom-up approach
-Ask underwriters how they got to their number
-Don’t forget to upgrade amenities when considering your underwriting
-Invest in your marketing so that you can get more potential residents through the door
-Payroll not only includes pay but also includes bonus and benefits
-Culture is what keeps people from staying and creating less turnover
Expert Pro Tip: Always get different perspectives when underwriting.
Contact Information:
https://respropmanagement.com/
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