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Eric Upchurch joins host Joseph Gozlan on the Apartments Operators Podcast to share his journey from enlisted to owning & controlling a large portfolio of apartments! Eric started his real estate investing while being on Active Duty and has since created an organization dedicated to educating Active Duty members of the armed forces about the benefits of investing in real estate and helping them get started while still on active duty!   00:00 00:39 How Eric got started with real estate 02:37 Becoming an accidental landlord 04:14 We always use third party management 04:30 When hiring a new 3rd party management company, its always good to cross-reference 05:25 never hire a part-time realtor as your property manager 06:08 you want a property management that manages the same asset class that you are buying 12:27 Pro tip: Check the reviews of the community you're buying!! 20:59 There's money in everything, even in the garbage! 40:14 Advice to younger self militaryrealestateinvesting.com activedutypassiveincome.com ericupchurch.com IG: real Eric Upchurch

Tiffany Mittal joins Joseph Gozlan on the Apartments operators podcast to share her multifamily journey. From running section 8 properties in California to the realization that they need to move away to landlord-friendly Florida where they teamed up with Grant Cardon to develop an easier way for small multifamily operators to implement RUBs using their proprietary software called Utility Ranger. 00:00 04:42  Managing section 8 properties 05:21 Not all Section 8 tenants are equal 09:37 When selecting a 3rd party management company, look for one whose majority of their managed portfolio is similar to yours. 10:52 You must have control of the day-to-day operations 13:17  How to not leave a bunch of money on the table 26:01 Fixed utilities Fees Cons vs Pros 27:14  RUBS formula is NOT so easy 35:07 Advice to younger self Tiffany Mittal's website: https://utilityranger.com/ Episode 133 Show Notes: 

James Kandasamy Joins host Joseph Gozlan on the Apartments Operators Podcast to share his multifamily Journey. James has syndicated, purchased, and sold thousands of units, self-managing from day one(!). James shares the benefits and challenges that come with self-managing thousands of units and why he chose to do a hotel conversion (spoiler: he made a LOT more money than conventional multifamily value-add) and why he now does a ground-up new construction of a large-scale multifamily community.    00:00 00:57 Getting started 02:14 we started self-management from day one! 05:53 Pro-Tip: looking for contractors in Craig's List 08:03 Why we stopped using GCs 10:31 It's really hard to get it right in the beginning 17:25 We want to take the management upside first 18:12 Renovating 101: kitchen & bathrooms are always the highest priority 20:54 Fixed fee utilities vs. RUBS. 25:11 Finding the right people 26:58 Expecting your team to operate at a standard that is much higher than the pay grade. 28:40  Only the top operators will survive the next few years! 31:00 we're gonna see some interesting buying opportunities coming up in the next couple of years 41:10 Hiring tip: passion and ownership are more important than knowledge. 44:55 new development is the ultimate game in real estate 50:58 Advice to young self: get out of your network!  achieveinvestmentgroup.com passiveinvestinginrealestate.com

Description:  00:40 Start of the Journey 01:33 Pay check is just not enough 05:01 They're doing a lot of surgical work with a spoon 05:59 the biggest challenges in the industry when it comes to third party property management 07:32 There's big disconnect between third party management companies and people that are buying value 08:48 The only thing that goes in favor of the bigger companies 09:10 we're operators, we're owners, we're investors. 13:47 field team and office team 16:17 It starts to get convoluted. 16:43 it's a whole nother thing to actually be successful at it 20:32 we try to swim in the same direction as the municipalities because of it. 21:10 even if it's not broke right now, We fix it 23:47 invest the CapEx upfront 28:44 what advice do you give your younger self? 30:32 scaling too quickly can kill you 31:22 2023 Outlook

Jonathan New is an active duty Navy personnel and still managed to grow his multifamily portfolio with his partners to over 700 units! Jonathan joins Joseph Gozlan, host of the Apartments Operators podcast to discuss how their team operates multiple multifamily properties across multiple states and dealing with multiple different third-party property managers.   00:00 Intro03:22 We use third party management everywhere! 04:51 It's just all about networking! 05:50 Others might have the right fit, we've got fit AND fill. 07:38 Picking a third party property management is like dating. 10:02 An operator should know and talk with everybody that they employ 10:33 identify the specific KPIs 12:51 Lessons learned the hard way - Chiller Systems 16:55 Third party property management in today's world are a little bit behind on technology 20:04 adapt or die 21:40 Exploring Creative financing as a way to make deals work in this market 23:15 You have to fight the property taxes assessments every year! 23:47  Why Jonathan believes that rents are still going to go up 2023 25:28 It's not just an apartment, not just a unit. It's a home 28:21 Advice to younger self: Bypass the residential real estate and just go straight into commercial

Episode 129: Increasing NOI by negotiations with utilities companies with Kevin Gardner - Apartments Operators Podcast In this episode of The Apartments Operators Podcast Joseph Gozlan is hosting Kevin Gardner. Kevin is providing a service many apartment operators haven't heard about: negotiating access agreements with utility providers like internet and cable! Watch through to see how Kevin's method can help increase your income through one-time payments and ongoing revenue share! 00:00 02:02 opportunity to bring in an increased revenue 04:05  Dallas has granted a non-exclusive agreement 05:07 negotiate with them and get compensation for you 06:02 There are two types of compensation 08:54 Exclusive marketing arrangement. 10:57 A bulk agreement 17:53 It has to be a deregulated market 20:45 Dangerous contracts 21:16 it comes down to new customers. 23:00 when do I engage you? And I would say it's never too early! 23:51 our goals and yours are a hundred percent aligned. 24:48 We educate people on their exact portfolio

Shane Carter joins Joseph Gozlan on the Apartments Operators Podcast to share his over 25 years journey from buying small 4plex and 6plex properties to buying large institutional grade multifamily. Shane shares the challenges along the journey and his plans to create his own property management company in the near future. Episode 128: Stepping Up to Institutional Grade Multifamily with Shane Carter - Apartments Operators Podcast 00:00 06:12 there's no right way to make a third party property management 25:10 your biggest bang for the buck in terms of reducing expenses 25:56 it's less about trimming and more about redundancy 30:52 The right type of debt in this environment coupled with the right type of asset 31:25 2023 is gonna show us some opportunities 34:24 I didn't think big enough, fast enough 35:27 finding the right partners and the right people to align yourselves with 36:00 it has to be a personality fit.

Joseph Gozlan hosts Steven Nguyen on the Apartments Operators Podcast Episode 127 to discuss how Steven grew his portfolio to over 90 units on his own with no partners and while still having a busy W2 job! Steven shares his insights and honestly admits some of the regrets he has from the journey. Episode 127: Zero to over 90 units while still working a W2 with Steven Nguyen 01:42 House Hacking: I lived in the master bedroom and I had to rent out the other 04:21 There is good debt, bad debt, and really bad debt. 05:04 There's a famous video of Warren Buffett 06:53 the value of apartments is based on the net operating income 10:08 Oklahoma City? It's not a sexy market. 11:02 choose a market first and then try to scramble to find a property manager. 11:49 when you interview 20 property managers, it does one or two things. 17:11 my job is to remove those barriers as fast as possible 17:47 don't worry about committing for too long 22:18 simplicity scales, fancy fails. 24:31 shiny object syndrome 26:15 there's always somebody that represents you 30:42 It was always by the unit. 31:32 That's why I said it's better to be great at one asset class versus be okay at two or three. 32:29 make sure that your property managers give you at least three bids for every project 36:44 get started in real estate earlier 37:36 focus on the process, not the outcome 38:40 writing large checks every month has a psychological burden 39:16 happy medium in the middle where that's a sweet spot

Derek Vickers joins Joseph Gozlan on The Apartments Operators Podcast to discuss the operations of mobile parks, ways to force appreciation in mobile home parks and how similar the challenges mobile home parks operators face to the ones multifamily operators face. Episode 126: Deep Dive into Mobile Home Parks Management with Derek Vickers   00:00 - pay more to do the job right 20:11 Good talent is worth paying more for! 22:56 Advantages of concentration! The economy of scale of managing multiple properties in the same area. 25:34 It's great to grow fast, but it does not come without some growing pains and headaches. 26:41 Don't go Cheap! 27:25 Do things right the first time, hire the right people, and then, pay attention to your operations. 28:32 Be conscious of who you're hiring! 39:18 The New Normal is not normal! Facebook: Derek Vickers

On this episode of the Apartments Operators Podcast, we are joined by Stewart Beal to discuss how he plans to shift his strategies for the new real estate market of 2023, How he built a portfolio of over 3,000 multifamily units, and how he created the infrastructure and the team to support this large operation! Episode 125: Shifting Strategies for the New Real Estate Market with Stewart Beal Thoughts about the current market, inflation, and rising interest rates Why sitting on the sideline and waiting in down markets is not always the best choice! Invest as much money as quickly as possible in real estate  How to create loyalty with your employees  Everyone who can hold a job, has a job! The struggles of hiring and retaining good talent in today's market Why in-house staff saves you more money EVERY.SINGLE.DAY!!! The benefits of having a robust team

Paul Moore returns to the Apartments Operators Podcast to discuss how he and his fund expanded their portfolio from multifamily to it's close cousins the mobile home parks and the self storage facilities. We discuss the similarities to multifamily operations and the differences and hear Paul's thoughts about the future of these asset classes. If you're considering investing in multifamily properties, mobile home parks or self storage facilities, then you'll want to check out this episode! Episode 124: Mobile Homes Park and Storage Management with Returning Guest Paul Moore Starting and failing is a normal course of doing business Mobile home parks are the new multi-family.  Mobile Home parks vs Multi-Family Management Why Mobile Home parks can be compared to Multi-Family communities The constant decreasing supply and increasing demand of Mobile Home parks Why Mobile home parks management is a low effort business Mobile Home management can get your investments back in 100% in just a year!  Pros and Cons of investing in Mobile Homes parks. How to make money with self-storage.  Why do the best investors say No more often than they say Yes.  

In this episode of The Apartments Operators Podcast, we're taking a deep dive into multi-family insurance. Calvin Roberts joins us to discuss the ins and outs of this important topic, from the basics of what it is to the biggest challenges that multifamily investors face when it comes to property damage and liability. We discussed what multi-family insurance is, the different types of coverage it offers, and how to find the right policy for your needs. Episode 123: Deep Dive into Multi-Family Insurance with Calvin Roberts 00:00 Discussion about how the insurance market is reacting to inflation! 01:36 How inflation increases the cost of claims for the insurance companies 01:55 How insurance plays a big role for the operators! 05:55 Learn the proactive approach to keeping the total cost of risk down 06:39 Tenant liability master program 14:07 Insurance is important, but getting the right insurance is a necessity. 17:50 The importance of getting reliable insurance! 19:30 Know what to look for in your insurance policy! 26:53 Why it's important to incorporate insurance policy into your leases

Episode 122: I Prefer Smaller Multifamily Assets Focusing on small properties can make you more money? Why 3rd party management works for small properties. Never trust your business to people just because they are friends of yours. Finding property management who owns the same property class as yours can be a game changer. Look for a property management company with the same goals as you. Identify your management team before you acquire. Look into the property management that is being used by the property near yours! Stabilized assets vs value add - a shift in perspective? How offering Wifi to your residents can help with delinquency. You can't manage what you don't measure Don't be afraid to take the first step, it's ok to mess up sometimes. Sometimes you need to take the jump and hope the net will appear. Website: https://www.mandymcallister.com/

Episode 121: Not all Third-Party Management companies are born equal From accountant to Investor to multifamily Syndicator How having a 3rd party management company can help you grow your portfolio. How to attract and retain the right and long-term tenants! Alina shares some of the challenges she faced with the 3rd party management. Using storage unit rental to boost your income. Residential vs Commercial Management Companies How being pets friendly can help with tenant retention! Websites:  https://tempofunding.com/ https://www.samofinancial.com/about-us/  

Feras Moussa joins us on The Apartments Operators Podcast to share his journey and discuss the real truth behind creating and running your own property management and furthermore, creating a 3rd party property management company that manages multifamily properties for other owners! Episode 120: The Real Math Behind Self Management with Feras Moussa - The Apartments Operators Podcast Ferras's journey from software to real estate How to modernize 3rd party property management It's better to know the ugly truth rather than have your investment go down the drain. There's no quick fix! There's less work with retention The simple math behind renewals! Perks of managing your own property and managing other people's properties at the same time! How premiums can help your NOI Pennies add up to real money! Websites: https://www.disruptequity.com/ feras@disruptequity.com

How Kelley leverages Multi Family to be a better mom! From a lone ranger to 160 million multifamily partnerships Know what your competitors are charging and never be afraid to test the waters and push boundaries Renovation on demand is always a good way to go for value add In house staff and skilled workers is the more efficient way to operate Realizing how you are forced to get creative when the going gets tough and learning how to handle it Tenant communication is one way to get through hard times and still maintain tenants retention Partnering with a local organizations is a great way to connect with your community!   Websites:  https://reimom.com/ https://greaterpurposecapital.com/ FB: annareimom

-How to go from hating your job to building a business you're passionate about -Think ahead and plan for your retirement -Focus on generating income or on allocating income -Why Jack chose 3rd party management over self-management -Lesson learned: Always dig deeper before selecting a management company -Recommendations are important but do your own research. -When selecting your management team it's important to interview the front liners (maintenance, leasing agent, managers, etc) -Make sure that the people on the ground/site are well trained -Why increasing rent helps you get better tenants -More amenities = Added income -Intangible value add is as valuable as the tangible ones. -How to help others and help your community at the same time.   Websites:  https://www.landprofitgenerator.com/ https://www.jackbosch.com/

-The importance of finding a 3rd party management that knows how to work with the type of assets you own -Look for a team with an on-staff maintenance crew -Good accounting systems are vital! -Establishing a consistent communication schedule with your team -5 things to ask yourself to figure out if you should replace your management team -Why retention is the most efficient way to save money and increase income -Importance of customer service for your tenants    Website: www.higinvestor.com Podcast: Rental property owner and real estate investor

- How to get started early. - Management is a hands-on business - It's surprisingly easy for the operations to go south if you're not paying attention to it. - Execution is the key. - Learn how to manage employees based on their performance not on your emotion. - 3rd party over self-management? - Do your due diligence. - It's always a good thing to ask around or get referrals when selecting a management company. - People is everything! - Never expect that everything will be perfect. - Having a clean and safe property might be a small thing but it can go a long way. - Retention is key to operations success! - Taking pride in the ownership. - It's never the big things when it comes to retention, it's all about the million little things. - Having a good referral program can decrease your expenses for advertising. - Be eager to learn. - Importance of buying right.     obsidiancapitalco.com IG: @realestatejedi

Focus on asset management From self-management to 3rd party - Going the other way! You got to have a solid budget to start self-management Finding good property management by looking at their organizational structure. Look for a company that has the resources to run the business. Always look for a management company that pays attention to you before starting business with them. It's better to get a smaller management company that's committed to your business needs Never stop paying attention to your property even after getting a management team Find a property manager who's core business is concentrated in your property area How to work with multiple management companies Know the 4Ps - People, Product, Price, Promotion Always know your market How a mini model can make a big impact on your occupation rate. Importance of Secret Shopping your team. Why Retention should be emphasized more than leasing mike@obsidiancapitalco.com https://www.obsidiancapitalco.com/