RCRE - Keeping Everyone Accountable

Will Coleman interviews Mike Taravella of Rand Partners.

 

Key Information:

Accountability: Keep in constant communication with your property management team in order to address any problems as soon as they occur. 

Key Performance Indicators to look at: Occupancy, Delinquency, and Marketing.

Communicate and be a resource to your residents so that you always have a pulse on how the property is performing. 

Establish a budget so you can see when you are under or over your usual metrics for the month.

Utilize accounting and property management software in order to keep organized records of the property’s performance.

Focus on financial metrics which lenders and brokers will look at in the future. 

Key Financials: P&L, Rent Roll, T-12

 

Expert Pro Tip: “Create Accountability”

Contact Information:

miket@randcre.com - Mike Taravella

 

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 About Jake & Gino: Jake & Gino are multifamily investors, operators, and owners who have created a vertically integrated real estate company. They control over $350M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino here --> https://jakeandgino.com.

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