Putting together a successful apartment investment deal requires the orchestration of a team of skilled professionals. Read on to find out the importance of knowing who is on your team and where to find them.
Find The Deal
Someone has to find the deal. Some of the best deals are off market deals. Found by word of mouth within networks, long gone before most even know it’s a deal. Having a team that has decades of connections and their ear to the ground puts you in first position for some of the best deals.
Structure the Deal
Someone has to structure the deal. When done correctly, deal structure mutually benefits both buyer and seller. With big institution capacity and small entity personal attention, Better World Holdings LLC’s team members have structured over $400M+ in sales acquisitions and investments with expertise in real estate development, lending and capital formations to identify problem areas and craft effective resolutions.
Positioning and Value
Someone has to know what we have and where we want to go. It takes experienced multifamily professionals to look through reports, walk the physical property and envision the future, all with an eye on the current market and where the market is trending. Having experience in what upgrades and amenities fit the particular demographic and which ones will pay for themselves can be critical in your apartment investment decisions. Understanding how much rent increase that particular market can bear, now and in the future, can quickly help pay for upgrades. Many inexperienced investors can overestimate or completely miss the mark when designating upgrades and amenities creating very expensive carry-overs on the books.
Raise the Money
Someone has to raise the money. Trusted connections with private lenders, conventional lenders and investor pools can quickly fund a deal. Time is of the essence when making great deals. Those who can secure the funds often get the best deals.
Execute the Plan
Someone has to be the boots on the ground and execute the plan. Experienced and dedicated apartment property management can quickly fill units and grow assets. Alternately, some property managers simply show up and punch the time clock. Having an operational partner with skin in the game can be invaluable to multifamily portfolio growth.
Beauty on a Budget
Someone needs to execute the upgrades. A multifamily rehab project, whether minor or major, needs to be expertly managed. A trusted contractor with a proven track record of success can deliver on time and under budget providing a win-win for all involved including apartment residents, multifamily owners and apartment property managers. This is not where the lowest bidder is necessarily your best choice. There are reasons for low bids. Look very carefully for the holes.
Branding and Marketing
Someone needs to create the image and message. Match the personality of the property to the neighborhood. Speak to the market and create the image. From exterior paint to property name selection to social media presence, it’s all important when it comes to marketing apartments. Many forget that this step is just as important, if not more so, as all the other steps. Make sure the budget includes monthly marketing and branding efforts to keep the qualified lead pipeline filled.
Hold It All Together
Someone needs to hold it all together. A skilled asset manager will help orchestrate the team and hold each person accountable while remaining laser-focused on the investments goals of owners and investors.
Run The Train
And last but certainly not least, someone needs to keep it all going, day after day after day. The apartment property manager wears many hats and keeps the properties humming at the property level. From vendors to residents, regulators, rent collections, and reporting, a skilled apartment property manager is the trusted finger on the daily pulse of your property investment.
All Under One Roof
Where do you find all of this under one roof? The Better World Family of Companies provides complete Apartment Life Cycle Solutions for apartment owners, investors and tenants. Better World Properties LLC, Better World Holdings LLC and Better World Consulting bring unique and exceptional value to the apartment world and find, analyze, manage, operate, improve processes, uncover hidden value, buy, sell, rehab, finance apartment equity, reposition and divest apartment properties. In part or in full. All under one roof.
Is it time that you looked at your next deal through multiple lenses? Have you assessed your current apartment properties for process improvements and increasing ROI? We specialize in Texas property management, operations and deals but we are also active across the country.
Want to chat some more? Give us a call. Better yet, come visit. We’ll take you on a tour. We love nothing better than to talk apartments.
Email info@betterworldllc.com or call (713) 559-6975.