Episode 95 - Lessons learned from 30+ years in Property Management: City Gate Property Group
Episode 95 - Lessons learned from 30+ years in Property Management: City Gate Property Group
Lessons learned from 30+ years in Property Management: City Gate Property Group Dawn Waye is President of Dallas/ Fort Worth based City Gate Property Group third party property apartment management. G. Patrick Smits is the CEO. Both have deep knowledge of managing in the “B & C – workforce housing” space. They currently manage over 10,000 units. Dawn & Pat share some ideas on what the ‘biggest bang for the buck’ will get you as an apartment investor. Dawn shares the ‘4 P theory’ for successful property management. 1) People- Are the onsite people they engaged with your success? 2) Price- Are you getting the best price for materials and labor? 3) Product- Do you have a good idea on what other properties in your submarket are charging in rent for their amenities? 4) Promotion- How are you driving new tenants to the property? Social media? Active marketing? Michael asks Dawn and Pat about surviving a future down turn in apartment investing. To get in contact with Dawn Waye: dwaye@citygatepg.com To receive our FREE 15 page WHITE PAPER REPORT on the 2017 FUNDAMENTALS OF MULTIFAMILY FINANCING 101 and to learn more about upcoming events at Old Capital Speaker Series please visit us at OldCapitalPodcast.com Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn about Michael's Real Estate Syndication business with SPI Advisory LLC.
