Today on the Real Estate Asset Management Podcast, we talk to Dustin Miles and Hayden Harrington of Momentum Multifamily about managing risk in the asset management sphere. We discuss the differences when it comes to managing a C-class versus an A-class or a B-class deal, as well the pros and cons of each class respectively. Dustin and Hayden share the ways in which COVID has affected their choices, as well as some of the invaluable asset management-related lessons they’ve learned over the years. Tune in for some useful tips and insights on how to mitigate risk and grow intelligently, instead of just growing for the sake of growing!
Key Points From This Episode:
Tweetables:
"During COVID, we did see quite a difference. We had more delinquency, more bad debt, and all that on the [C-class] side. [A-class] was just a lot more stable, a lot more seamless, less peaks and valleys." – Dustin Miles [0:02:29]
“We just want to mitigate risk however we can and grow intelligently – not just grow to grow.” — Hayden Harrington [11:57]
“We’re not here to be right. We’re here to do what’s best for the business, for each other, and for our investors. That’s something that we keep a priority here at Momentum [Multifamily].” — Hayden Harrington [15:06]
“It pays dividends to invest in people and understand who you're getting in business with and not just jumping at the first option or the cheapest option that comes along.” — Hayden Harrington [15:39]
Links Mentioned in Today’s Episode:
Asset Management Mastery Facebook Group
