330. Managing Multifamily Properties By Tracking KPIs With Gary Lipsky

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Gary Lipsky is a real estate entrepreneur who has a focus on Multifamily Syndication and currently has 65MM AUM He is the President of Break of Day Capital whose mission is to positively impact the lives of their investors and the communities in which they invest through the highest level of transparency and fiduciary responsibility Gary also is the best-selling author of Best In Class and founder of the Asset Management Summit In this episode Gary discusses the best practices for asset management He believes that being vertically integrated is the best way to go because there is such a shortage of affordable housing and the economy is still going strong He mentions that having good asset management practices can help mitigate some of the risks associated with the business To learn more about Gary listeners can visit his Podcast 00 01 – 13 52 Opening Segment Gary shares his background working as an outdoor education company owner and starting his own real estate ventures His reasons for moving into real estate include wanting to leave his previous business behind and seeking a new chapter in his life 13 53 – 21 52 Managing Multifamily Properties By Tracking KPIs He talks about when he decided it was time to move on to a different career He recommends tracking key performance indicators KPIs to manage multifamily properties effectively Best asset managers are meticulous in their approach to managing properties Bes in class operators have a strong focus on retaining and growing residents The importance of checks and balances in financial reporting Having a team that is responsible for acquiring and executing properties How having a vertically integrated company allows for better control and management of the business The importance of having a company culture that is supportive of property management 21 53 – 23 49 Closing Segment Gary encourages listeners to visit his website and his podcast at www breakofdaycapital com Gary shares where you can get in contact with him links below Quote s Find mistakes and if you don t have that attention to detail if you re not going through it with a fine-tooth comb then there s going to be a lot of extra costs and affecting your ROI Gary Lipsky You can connect with Gary through his Website www breakofdaycapital com LinkedIn Gary Lipsky Instagram Gary Lipsky YouTube Gary Lipsky WANT TO LEARN MORE Connect with me through LinkedIn Or send me an email at sujata luxe-cap com Visit my website www luxe-cap com or my YouTube channel Thanks for tuning in If you liked my show LEAVE A 5-STAR REVIEW like and subscribe Click here to visit this podcast episode