In this episode of No Vacancy, host Taylor Avakian sits down with Bo Drake, principal at Drake Real Estate Group and a seasoned LA investor. Bo takes us through his journey from brokerage to owning and managing multifamily properties, sharing the lessons he's learned and the strategies he uses to build lasting success in LA's competitive apartment market.
Bo reveals why real estate is a long game, how he’s scaled his property management firm, and the importance of diversified revenue streams in today’s market. Whether you're an experienced investor or just getting started, Bo’s insights will help you navigate the complexities of LA apartment investing and grow your portfolio.
Highlights:
Why you need to think long-term to succeed in LA real estate
How Bo went from brokerage to managing thousands of apartment units
The hidden challenges of managing multifamily properties and what to avoid
Building trust with clients and why it’s key to long-term growth
Watch now and discover Bo’s secrets to thriving in LA’s multifamily investment landscape!
1:03 - Bo Drake’s Path to Building a Real Estate Firm in LA
3:03 - Early Career Wins and Struggles in LA Real Estate
6:03 - Lessons from College Sports to Real Estate Sales
8:03 - How Los Angeles Shapes a Unique Multifamily Investment Landscape
10:03 - Creating Drake Real Estate Group to Serve LA’s Apartment Owners
12:03 - Property Management Insights: Handling LA’s Tenant Challenges
15:03 - Secrets to Building Client Trust in Los Angeles Real Estate
17:03 - Dealing with Problematic Tenants in LA
20:03 - Maximizing LA Apartment Value with Cost-Effective Upgrades
23:03 - Los Angeles Neighborhoods on the Rise: Investor Hot Spots
25:03 - The Importance of Transparency in LA Property Management
27:03 - Managing Tenant Expectations in Los Angeles’ Competitive Market
30:03 - Smart Tech Upgrades: Do They Really Boost Rent in LA?
32:03 - How AI and Automation are Changing LA Property Management
34:03 - Cost-Saving Hacks with Virtual Assistants for LA Landlords
36:03 - Insurance Challenges for Los Angeles Multifamily Owners
39:03 - Boost Tenant Retention: LA-Specific Strategies That Work
41:03 - Avoiding Common Investment Pitfalls in LA’s Multifamily Market
44:03 - The Impact of LA Rent Control on Apartment Management
46:03 - Smart Tenant Selection to Boost LA Property Value
49:03 - Market Trends Every LA Investor Should Watch in 2024
51:03 - Long-Term Strategies for LA Real Estate Success
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