If you are in the multifamily game and want to scale up, you should seriously consider becoming vertically integrated. The more you can bring the different processes involved in deal acquisition and property management in-house, the more seamless the processes that govern your business will become. Jacob Garza from REEP Equity doesn’t just own 2,700 units but does all his property management too, and he joins us today to educate listeners about the many benefits of this model. He gives us an idea of his journey in the multifamily space and then weighs in on the extra control he has over his properties thanks to the property management branch of his company. We hear Jacob’s tips for newer sponsors who would like to follow in his footsteps and he shares the approach he took regarding how he handled the property management side of things as he scaled his business. From there he gets into the seamless integration between himself and his teams from the moment of the broker tour all the way to the day they take over the property. Another great theme from this episode is the power of a brilliant team and Jacob talks about how thankful he is that his asset management superpower is hiring! So for all this and more, be sure to tune in today.
Key Points From This Episode:
“I like building teams. I like putting strategy in place and if you have the right people, your executives reporting to you, it makes that job a whole lot easier, and fortunately, through this process of having our management company, we hired some really solid people.” — Jacob Garza [01:47]
“We don’t try to be experts at everything, right? We don’t do roofs, we don’t paint buildings, but we try to do some of the things that give us some scale up and we hire a person to do it.” — Jacob Garza [06:33]
Links Mentioned in Today’s Episode:
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