Episode 43: Why Operators Should Develop Tenant Buy-In
Property management companies are not having honest discussions with building owners about their ability to manage smaller projects resulting in unresponsive management and higher tenant turnover. Some of the larger investment groups tend to bring in their own property management, but find their offering to be slightly misaligned with the submarket resident demand.
“You can overpay for a property, but if you have a good business model and responsive property management company, you could still be successful. “ - David Evans
In this episode, David shares with us one of the critical success factors he has found that allows smaller operators in his market thrive, when larger out of state operators enter the market and underperform.
About David Evans:
After earning his master’s in education and spending some time in the classroom, David Evans realized he wanted more. He became a real estate agent and began brokering residential real estate. He eventually transitioned into commercial real estate where he not only assists multifamily investors acquire and manage properties, but he also invests in multifamily assets himself.
Dion Huey is a Co-founder at Delta Bridge Capital LLC which is a multifamily real estate investment company that invests in value-add apartment communities in the United States. He earned a master's degree in finance at Northeastern University in 2017 and worked on multiple business syndications as a financial analyst for Boston-based Plateau Asset Management which is a private equity search fund that has $30 million AUM. In 2017, Dion was an analyst on a deal team that advised Citic Investment Bank's Hong Kong private equity division on the syndication of a $1.5 billion acquisition of a hotel in New York. He is currently the host of The Multifamily Investor Situation Room Podcast.
In 2010 he co-founded Rocky Mountain Education and Technology Group which is a Beijing-based education services company that has serviced more than 5,000 clients. In his spare time, Dion enjoys reading, martial arts, lifting, and learning foreign languages. Contact the author at firstname.lastname@example.org.