Nov 9, 2022

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!