Alain Villegas is a full-time real estate investor based in Dallas, Texas who has over $60 million of properties under asset management, just under 900 doors spread across seven apartments. He has also invested as a limited partner in eight properties, just over 1,200 doors in total. In this episode, Alain talks about real estate reporting, from the reports acquired from property managers to the ones created for internal purposes and to keep investors updated. Tuning in to this episode, you will learn why you should not only pay close attention to monthly and weekly reports but also daily ones to keep abreast of property performance. This also allows asset managers to assume a proactive approach instead of waiting for things to happen. Alain advises on the most important reporting elements to note, how regularly they should be tracked, and how this information can be communicated to the different parties. We also discuss software tools, the ultimate report, and the importance of anticipating challenges.
Key Points From This Episode:
“For me, the most critical is the budget versus actual net operating income. The reason for this is it is already reflective of the overall performance of your operations, taking into account both your revenue and expense.” — Alain Villegas [0:04:07]
“Be proactive. Always stay ahead of things. Lead not only in your team but anticipate future challenges.” — Alain Villegas [0:09:37]
Links Mentioned in Today’s Episode:
We care about your experience. Fill in your details and we’ll contact you shortly.