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Real Estate Runway - Chad Sutton - Insta
145: Asset Management with Gary Lipsky
Aug 8, 2023 29 min
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Episode Description

Be ahead of everyone else just by using the "MAP" (Measure, be Accountable, and be Proactive) technique!

With a focus on building meaningful relationships and leveraging mentorship, Gary Lipsky, co-founder of Break of Day Capital, a company that specializes in asset management in the Tucson and Phoenix, Arizona market, details his progression from single-family homes to multifamily properties. He underscores the significance of effective asset management, highlighting proactive communication with property management teams and meticulous tracking of key performance indicators (KPIs). Emphasizing the principle of underpromising and overperforming, Gary offers valuable strategies to ensure investor contentment and emphasizes meticulous control over property operations.

Learn more about ALTERNATIVE BUSINESS and INVESTMENT STRATEGIES through QUATTRO CAPITAL!

[00:00 - 10:47] Gary Lipsky's Journey, Value-Add Strategies, and Asset Management Insights

  • Host Chad Sutton is joined by Gary Lipsky of Break of Day Capital to discuss asset management and lessons learned from his diverse experiences that paved the way for his seamless transition into the dynamic world of multifamily real estate

  • Drawing inspiration from his creative and business-oriented background, Gary recognized the significance of the "value add" approach in both single-family homes and multifamily properties

  • He shares insights into identifying opportunities for improvement and growth, underlining how his unique perspective became a driving force in his real estate endeavors

  • Gary introduces MAP – Measure, Accountability, Proactiveness – vital to effective asset management, revealing his keys to success in property management

[10:48 - 21:29] Strategies for Confidence, Proactivity, and Ownership Mindset

  • Gary and Chad Sutton stress the significance of building financial buffers within pro formas, showcasing the value of conservative projections for investor confidence

  • They highlight the power of weekly KPI tracking as a proactive cockpit for property management, enabling data-driven decisions and effective communication

  • Gary's granular data insights unveil opportunities by scrutinizing occupancy and conversion rates, illuminating a path to maximize net operating income (NOI)

  • Chad and Gary emphasize cultivating an ownership mentality to drive results, fostering collaboration and proactive thinking for enduring property management success

[21:30 - 28:22] Driving Success and Giving Back

  • Gary unveils a strategic move; their recent acquisition of a substantial property in Tucson showcases their commitment to growth and innovation

  • Philanthropy takes center stage as Gary discusses his company's contributions to combat sex trafficking and support education

  • Gary's book, "Best in Class," offers a comprehensive guide to multifamily real estate investments, while his podcast, "The Real Estate Investor Podcast," provides valuable insights and knowledge to empower listeners

Quotes:

"Nothing goes perfectly. And if you have that mindset, you're gonna do very well because it's always herding cats being proactive." - Gary Lipsky

"You cannot see what you don't measure." - Gary Lipsky

Connect with Gary through

LinkedIn, Facebook,

visit http://www.breakofdaycapital.com,

or listen to The Real Estate Investor Podcast

Resources Mentioned:

Best In Class (book): https://www.amazon.com/Best-Class-Multifamily-Mistakes-through/dp/1544520891

Causes proudly supported by Break Of Day Capital: https://breakofdaycapital.com/giving-back/

LEAVE A 5-STAR REVIEW + help someone who wants to explode their business growth by sharing this episode. Find out how team Quattro can help you by visiting www.TheQuattroWay.com.

Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.

Nectar:

https://app.usenectar.com/quattro-capital

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