Today on the podcast, listeners will hear from Ajai Sharma, the founder, and principal of AimNext Realty. Ajai oversees all aspects of property operations, including asset management, property management oversight, and investor relations. Since he entered the real estate investing space in 2008, he has been involved in almost 5,000 units as a passive investor and also a deal sponsor. In this episode, Ajai shares why he entered the real estate market in the most difficult economic period and decided to pivot to apartment syndication five or so years ago. For him, the most important aspect of the business is communication—with investors, executive property management staff, and brokers—because you never want to burn bridges. He explains why bonus plans for staff on the sale of a property is a good way to keep them committed to the cause and how that helps to ensure positive future working relationships. He walks us through their process of getting ready to sell a property after the five years, what they do when the returns are less than expected and whether they prioritize a higher price or surety of closing.
Key Points From This Episode:
“But in 2008 and 2009, I started as a single-family rental business. You know 2008/2009 was a blood bath in the whole real estate market but I felt that was the right opportunity to buy a good chunk of single-family homes.” — Ajai Sharma [0:01:24]
“Investor communication is key. There is nothing like over communication with your investor. You should always get engaged.” — Ajai Sharma [0:06:13]
“Never sell the property prematurely, never try to sell the property without a broker, always have your management company in your confidence so they know what is going on.” — Ajai Sharma [0:11:17]
Links Mentioned in Today’s Episode:
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