Today's podcast guest Jason Pero and host Gary Lipsky talk about pivoting to boost NOI. Pivoting is one of the most important skills in real estate investing and it's not just for entrepreneurs and startups. Whether you're a seasoned investor or just getting started, pivoting is essential to your success.
Key Points From This Episode:
1. On which property we should focus
2. Real-Time Pivot
3. Pivoting Structures
4.How to communicate challenges to investors who expect a return on their investment
5.How to deal with stressful asset management
6.How to motivate your team
7.How to handle setbacks and curveballs in your underwriting so you can pivot
8.KPIs for a successful pivot
9.How to deal with difficult situations
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Tweetables:
it's just knowing what we're getting into, so it can be stressful. But at the same time, I think if you have a plan and you communicate clearly and have a motivated team, you know, it'll get done. I think, for me, In this deal, owning the management company has a set of challenges, but I think that's where we add the value if it was a third-party company. {Jason Pero}
When you said, you know, being on offense versus being defense, you know, being proactive, you know, that's so important, having the cash reserves and the wherewithal to make that pivot and not, and, not wait for things to get hope for things to get better, because that's not, this is, you know, this is like you said, this is, you know, big boy business. It's not, you can't just wait, and, and, and sit back and, and hope. {Gary Lipsky}
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Today’s Show Sponsor :
Garzella/Multifamily Risk Advisors https://garzellagroup.com/
