BMC Investments的动态

In the fast-paced world of multifamily asset management, your team is your most valuable asset. But what happens when that asset keeps walking out the door? High turnover rates can wreak havoc on your property's performance, leaving you grappling with: ? Constantly training new hires, draining time and resources ? Loss of institutional knowledge and established resident relationships ? Declining service quality and resident satisfaction ? Skyrocketing recruitment costs ? Team morale issues that impact overall productivity ? Inconsistent property management affecting your bottom line If these challenges sound familiar, you're not alone. The multifamily industry faces some of the highest turnover rates across all sectors. But there's hope on the horizon! Our Asset Management Summit on October 10 is designed to tackle the turnover challenge head-on. We've gathered industry leaders to share their secrets for building and retaining high-performing teams. Register Now: https://lnkd.in/eSKSrmAM #AssetManagementSuccess #EmployeeRetention #TeamBuilding #MultifamilyHR #PropertyManagement Shane Thomas Sridhar Sannidhi Ed Modzel Tyler Chesser, CCIM

I’m grateful to be part of the asset management team. ?? I want to gain as much experience as possible. ?? I volunteered to work with the property management team. ?? It’s my first time, and I thought it would be easy. ?? How hard could it be to turn over vacant units, especially in a prime location with a property management team doing the work? ?? I was so wrong. ?? We can’t rely entirely on property management. ?? I found out that the regional manager handles 20 other properties. ??? When there’s a distressed property, there’s no waiting. ??? It’s not acceptable to wait for property management to finish with other deals. ?? The owner cares the most about the property, but I noticed a bottleneck in the chain of command. ?? When we all have to wait for one person to move things along, it’s not good. ?? If she doesn’t handle her part, everything is on hold. ? I’ve been pacing, trying to figure this out. ?? How should I approach this person? ??♀? What should I say? ?? #AssetManagement #PropertyManagement #RealEstateChallenges #Teamwork #BottleneckIssues #LearningOnTheJob #ProblemSolving #LeadershipSkills #RealEstateJourney

Who's the superhero behind the scenes in multifamily real estate investing? It isn't the Underwriter. It's not the Property Manager either. Nor is it the Acquisition Manager. Meet the Asset Manager - the unsung hero and the mastermind behind the GP team. They're the one who: - Ensures all KPIs are hit - Shields client assets from risk - Bridges the communication gap with investors - Maintains operational brilliance of the properties When everything seems to be crumbling, a good asset manager is the knight in shining armor. But a subpar asset manager? They could torpedo your entire investment. So, make it your priority to onboard an asset manager who: - Commits to developing new skills - Stays on top of industry trends - Holds a clear vision - Is as reliable as a Swiss watch The takeaway? Vet your asset manager thoroughly from the start. Because a subpar asset manager equals disappointed investors. So, who has an 'A-Team' asset manager on their team? Please share your experiences in the comments below!

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Multifamily Monday Successful leasing of multifamily properties requires a holistic approach that integrates property management and asset management strategies. By leveraging technology, data analytics, and industry expertise, landlords can streamline operations, mitigate risks, and capitalize on market opportunities. Asset manager, that's you as an investor: Involves strategic planning and decision-making aimed at maximizing the performance and value of a portfolio of investments, including multifamily properties. Asset managers utilize financial analysis techniques to evaluate the financial health and performance of each property within the portfolio, identifying areas for improvement and growth opportunities. Consider IRR and NPV metrics when weighing your options. Asset managers conduct rigorous risk assessments to mitigate potential risks and uncertainties, implementing risk management strategies to protect the portfolio's value and ensure its long-term viability. They develop and execute strategic plans tailored to the specific investment objectives of the portfolio, such as maximizing returns, enhancing property value, or achieving targeted growth rates. Consider a cost benefit analysis against other investments and years to hold versus exit. Inflation should be factored and capital should be adjusted accordingly. #realestate #business #commercialrealestate #investing #diversify #build #grow #challenge #results #service #professional?#modesto #california #ca #stanislauscounty #centralvalley #investor #invest #REI #passiveincome #turlock

How often should an asset manager be onsite? This question depends on if the property is stabilized or not. But I think atleast monthly in the beginning and less as the property stabilizes. I know this can be unideal if your not boots on the ground but WHO CARES! That’s why we get paid acquisition fees, asset management fees, etc! I’m currently in Dallas at some of our properties and have been coming almost monthly for the last 3 years even though one of them is stabilized! It definitely helps having good partners who make some trips when I can’t. If the travel is a lot then I recommend finding a boots on the ground partner or to invest in your backyard. #commercialrealestate #multifamily #cre #realestate

Your Next Great Hire is Closer Than You Think ?? The Hiring Collective specializes in connecting property management, asset management, and construction companies with top-tier talent—quickly and efficiently. Don’t let unfilled roles slow your business down. Trust The Hiring Collective to help you build the team that drives success. Contact us today to get started!

Asset management “versus” operations in multifamily: ?? This is a frequent misalignment to be aware of. Both the asset manager and the operator have different goals/metrics of tracking success and if they aren’t aligned on the overall business plan of the investment, property, residents, and owner(s) will feel it. ?? The operator focuses on the day-to-day execution at the property. A key metric for success for the operator is occupancy and renewals. ?? The asset manager takes a broader view – focusing on long-term value and financial performance. Their success is measured by the alignment of the asset to the overall business/investment strategy. Asset managers are more likely to be on “offense.” What does this mean? They are willing to trade a few bps of occupancy to execute their business plan if it calls for renovations: In order to get “product” (i.e. apartment homes) available, they have to sometimes forgo renewals in favor of vacancy – which then allows a capital expenditure to bring the unit up to the new spec. ??Here’s some math: ? A 3% renewal increase from a $1,300 rent will bring rent to $1,339/month. That’s an additional $468 for the year. ? On the other side, if a renovation can increase the monthly rent by $200, that unit would be leased at $1,500. That’s an additional $2,400 for the year. ?? It takes about a month for a full renovation – for that month, that unit is not making any money. But it is finally putting investor capital to work and driving appreciation into the asset. Of course, there is more to deciding on whether to keep a unit leased or vacant than this math. But the point is, executing on the investment business plan sometimes means “compromising” the operator’s leasing strategy. ?? The asset manager and operator need to be fully aligned or your investment value may ultimately be nothing more than a number in an investment presentation. ATX Acquisitions, ResProp Management #realestate #operator #manager #investment #team

Why Every Property Manager Needs A Strong Asset Management Understanding In the world of multifamily properties, keeping tenants happy and the building running smoothly is essential. But what takes your operation to the next level? Understanding asset management. Here's why: Strategic Decision-Making:?Asset management knowledge goes beyond daily tasks. It allows you to analyze data, identify trends, and make informed decisions about maintenance, renovations, and even rent pricing – all to maximize the property's value. Long-Term Vision:?Great property managers don't just react, they anticipate. Asset management skills help you see the bigger picture, plan for the future, and ensure your property stays competitive in the ever-changing market. Alignment with Ownership:?Owners care about return on investment. By understanding asset management principles, you can bridge the gap between day-to-day operations and the owner's financial goals, fostering stronger relationships and trust. Thinking like an asset manager makes you a more valuable property management professional. #multifamily #propertymanagement #assetmanagement #realestate Let's discuss in the comments! What are your thoughts on the importance of asset management in property operations?

So true! It's crucial to think strategically and not just focus on day-to-day tasks. Recently, I used asset management principles to recommend a capital improvement project to ownership. By analyzing data on resident amenities and competitor offerings, I demonstrated the potential for increased rent and occupancy rates. The project is now underway, and I'm excited to see the positive impact it has on the property's value. This experience solidified how important it is to use data-driven insights to make strategic decisions. #AssetManagement #StrategicThinking #DataAnalysis #RealEstateInvestment