True Multifamily

On this episode of True Multifamily, Dave Van Horn of PPR Note Company discusses his investment journey from managing contractors through his current role at PPR. He also discusses creative ways to get work done, in that payment terms can be more important than price when it comes to effectively managing contractors. Dave also speaks about legacy planning for his business.

Reference Links

PPR Note Co.

Real Estate Note Investing Book

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Website

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LinkedIn

Mike Bonadies comes back to the True Multifamily Show and talks to Justin Fraser about turning a D Class Asset to a C Class Asset and the challenges that come along with it.

Mike also defines and differentiates between D Class Asset and C Class Asset, giving Salem City as an example from his own experience wherein the tenant demographic showed dogfighters, pimps, and tenants committing crimes. Throughout all these challenges, Justin and Mike discuss their creative strategies to reduce D Class Tenants while giving an overview of the innovative solutions on working with D Class Assets.

Additionally, Justin speaks about how he got creative in dealing with D Class Assets by removing dark areas in the whole property while also allowing the local police department to have discounted rent to manage the challenges in the community.

Reference Link

TerraVestra Property Management

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Facebook

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Russell Alt and Dan Butler of CoreAssist join Justin for this episode recorded at PODMAX. They share how they built a Remote Team Staffing Agency out of a need from their own real estate investment company.

Remote Team Members are virtual staff that plug into businesses and take on tasks that help promote growth. As their own biggest customers, Russ and Dan give excellent tips on how to bring on staff to help you grow your business.

Reference Links:

CoreAssist

This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share.

Dave Wolcott, Founder and CEO of Pantheon Investments, joins True Multifamily to explain how to leverage real estate investing using The Pantheon Holistic Wealth Strategy. He breaks down the importance of having a big vision and desire to live a life of financial freedom, abundance, and fulfillment. Dave tells a story of how to create a framework within a strategy, building a team that adds expertise in implementing alternative strategies that take action using three simple steps:

Additionally, Dave covers how to clarify your vision statement, building comprehensive alternative strategies such as the Infinite Banking Policy and Tax Strategy, and taking action in order to continually push through to the next level.

For Dave, we’re all constantly in a growth cycle and learning to build time into our schedules to reflect and rejuvenate pushes us to live more intentionally, instead of reactionary.

Reference Links:

Pantheon Investments

The Pantheon Holistic Wealth Strategy

Social Media:

Website

LinkedIn

Coming from the Best Ever Conference in Keystone, Colorado, Justin Fraser talks to Mario Brown, Realtor and Investor in Affordable Upstate, adding value and creating growth while maintaining the retention of tenants. Mario also emphasized that investors must keep in mind that the tenants are clients and customers, and creating growth means to provide tenants with affordable housing.

Additionally, Mario talks about operational efficiency and juicing income. He gives out a strategy on the raising rents, showing good faith and appealing to the tenants’ side while making the world a better place by using the “Water Conservation Program”.

Reference Links

Best Ever Conference

Affordable Upstate

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Website

LinkedIn

Mike Bonadies joins Justin to discuss his explosive growth with not only his own investment properties but his management company and maintenance company with hundreds of units under management and over a dozen rehab jobs running simultaneously.

Mike shares the story of buying a triplex that wasn't actually zoned as a triplex. Despite being taxed as a triplex, looking like a triplex, and functioning as one, it turns out the previous owner never actually went through the proper zoning procedures.

Mike stresses the importance of making relationships with the town officials, clerks, council and even the mayor. He showed them successes from nearby towns and shared his desire to turn around this asset in their town. He's taken what could have been a terrible situation and turned it into an opportunity to build relationships with key town officials and even a new source of property leads!

Reference Links

TerraVestra Property Management

Social Media

Facebook

Instagram

LinkedIn

This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share.

Palak Shah, owner and founder of Open Spaces Capital and Open Spaces Women, joins True Multifamily to share her story of having a theft as soon as she closed the property. She mentioned how important contingency is and how her team made lemonades out of the lemons given to them.

Palak shares her different approach, providing a long term strategy to provide quality housing when it comes to property management. Upon quitting her job and building her amazing portfolio, she envisioned getting women the support to learn more about real estate and learn more about value add investing, empowering women throughout the process.

She was also featured on the BiggerPockets Money Podcast.

For Palak, the best way to scale is to find a scalable model and to keep on doing it, providing excellent service to tenants through social impact and profitability.

Reference Links:

Open Spaces Capital

Open Spaces Women

BiggerPockets Money Podcast featuring Palak Shah

$3,500 per Month From One BRRRR Deal With Palak Shah

Social Media:

Website

Facebook

Twitter

Instagram

LinkedIn

Alex Felice owns a 24 unit property in Fayetteville, NC and talks to Justin about how he bought and managed this property from Las Vegas, NV.

He covers how instrumental showcasing your brand online is to building trust and credibility with investors and partners. Alex recommends documenting your process, create content day after day so that one day someone will "binge" you and decide whether to partner with you or lend you money.

Alex shares the progress he's made on his property, as well as some tough lessons learned including unit mix and property size and how he would do it all differently next time around.

Fall in Love with Alex as I did by visiting his website at www.brokeisachoice.com or find him on Facebook or BiggerPockets.

On this episode, Justin Fraser recaps what he learned about the Asset Management Presentation by Frank Roessler from the Best Ever Conference 2020. He covers the fine line between a property manager and an asset manager.

This is the first conference Justin Fraser went to that has a talk about Asset Management focusing on the oversight and implementation of a multifamily property, the use of asset management to affect real change at a property, and the importance of the asset manager in mitigating risks.

Justin emphasized the key roles of the asset manager such as overseeing capital projects, managing and working with staff, lender communications, monitoring key performance indicators (KPIs), and most importantly, making the resident’s life better. He also emphasized the importance of having good relationships with people who are taking care of your property on the ground.

On Frank’s presentation, he talked about the tips on juggling multiple assets in different stages and the DOs and DON'Ts of asset management.

Reference Links:

Best Ever Conference 2020

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Website

Facebook

Instagram

Jennifer Outland, Regional Manager for Rand Property Management, joins True Multifamily once again to talk about her extensive experience on the day of the takeover. Jennifer covers what you need to do on Day 1 of the takeover such as evaluating work orders, changing all the locks, send an introduction letter to residents, and taking ownership of the phone number.

In her story, Jennifer tells us to always hire extra people as a substitute for whenever someone unexpectedly leaves. She also emphasizes how to operate from a place of power, getting the right people in and taking control of the people amidst the extensive process.

Reference Links:

Rand Property Management

Social Media:

LinkedIn

Facebook