Mike Taravella interviews Luke Leins from InvestRes to discuss property management, underwriting, and developing culture
Luke Leins is the Director of Business Development for InvestRes Real Estate which has purchased 17,000 units, maintain $1.5B+ in assets under management
Key Information:
InvestRes has been moving from investing and being vertically integrated to becoming a 3rd party property management
Have a core purpose and always make business decisions that align with that purpose
Multifamily is having a employment crisis because operators can’t find employees
GetDone is a platform to allow maintenance techs to earn more side money AND allow properties to run leaner and handle work orders more efficiently
Underwrite the deal from a top-down and bottom-up approach
Ask underwriters how they got to their number
Don’t forget to upgrade amenities when considering your underwriting
Invest in your marketing so that you can get more potential residents through the door
Payroll not only includes pay but also includes bonus and benefits
Culture is what keeps people from staying and creating less turnover
Expert Pro Tip: Always get different perspectives when underwriting.
Contact Information:
https://respropmanagement.com/
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https://invest.randpartnersllc.com/invexp/accounts/login/
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Rand CRE's Linkedin: https://www.linkedin.com/company/randcre
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