As a seasoned marketing expert with over two decades of experience, Maribeth Ross, the CMO of Perk, has a deep understanding of marketing technologies and their evolution across various industries. Recently, she has focused her expertise on marketing technology for the multifamily industry. In this blog post, I share the insights from my recent podcast episode where I had the pleasure of interviewing Maribeth.

A Unique Blend of B2C and B2B Experience

Maribeth’s unique blend of B2C and B2B experience gives her a distinct advantage in understanding buyers across both industries. She emphasizes the importance of understanding the buyer, a key piece of advice for marketers. Maribeth also expresses her love for technology and how marketing is becoming more technology-driven over time.

When asked to elaborate on the difference between B2B and B2C marketing, Maribeth explains that while there are differences, such as the length and complexity of the buying process, the underlying concepts are similar. People buy from people to solve a pain, regardless of whether it’s a B2B or B2C purchase.

The Greenfield Opportunity in the Multifamily Industry

Maribeth sees the multifamily industry as a greenfield opportunity, with marketing and sales rapidly changing to become more digital and research-based. Renters are conducting extensive online research before engaging with a leasing office, and their journey is becoming longer.

The Role of AI in the Multifamily Industry

Maribeth highlights the importance of the adoption of AI technology in the multifamily industry. Many property management companies (PMCs) are implementing chat capabilities on their websites to provide 24/7 support to consumers. However, she believes that there is much more potential for AI in the industry beyond just chat technology.

AI can automate tasks for on-site teams, such as answering frequently asked questions, following up with leads, and scheduling tours. These tools not only save time for the teams but also enhance the consumer experience by providing personalized information. By leveraging AI, PMCs can drive down costs per lead and per lease, which have been increasing in the industry.

Perk: AI-Based Tools for Engaging Visitors

Maribeth shares insights from her company, Perk, which uses AI-based tools on websites to engage visitors. Instead of static pages, Perk offers interactive quizzes and content that match the interests of consumers. This approach increases the likelihood of consumers touring and leasing properties by at least two times.

Perk’s software can be beneficial in other areas of the multifamily industry. The software offers AI-powered chat technology that can be applied across various channels, including websites, Google Business pages, email, SMS, and even converting phone calls to text exchanges. This ensures a consistent experience for consumers across different channels and helps them understand and trust the brand.

Perk’s Diverse Range of Clients and Implementation Experience

Perk serves a diverse range of clients, including both large and small PMCs at different stages of development. Perk is used by companies building new buildings to manage the rental process, as well as by established companies with high occupancy to streamline their operations.

Marybeth assures that their customer success team makes the process easy and can typically get clients up and running within a month. The cost depends on the number of properties and components used, but she highlights the benefits of using the full platform for a comprehensive solution.

Personal Habits and Final Thoughts

On a personal note, Maribeth shares her favorite daily habit of taking a morning beach walk near her home in southern Maine. She finds it a beautiful way to start her day, listening to the waves and gathering her thoughts.

In conclusion, Maribeth believes that multifamily spaces need to adopt automation to keep up with renter expectations. She encourages property management companies to involve their teams in the process and ensure they understand the technology’s benefits, so they don’t feel replaced but rather see it as a shift in responsibilities.

Building a Community and Personal Brand on Social Media

As the host of this podcast, I had the pleasure of interviewing Manicia Reneus, the co-founder of Your Social. Manicia has carved a niche for herself in the digital marketing world by focusing on real estate agents. Her lifelong interest in residential properties and the need she identified in the South Florida real estate market led her to this specialization.

Manicia’s approach is unique. She helps realtors create a community and build their personal brand on social media. She does this by creating engaging content that educates potential buyers about the market and showcases the realtors’ personalities. She leverages current trends, such as video content, and emphasizes the importance of showing the realtors’ faces on social media to build trust with potential clients.

The Power of Organic Social Media and the Role of Analytics

Manicia supports realtors on various platforms like Facebook, Instagram, LinkedIn, YouTube, and TikTok. She collaborates with a partner who specializes in graphics to create visually appealing content. She emphasizes the power of organic social media, especially for those starting out.

Manicia suggests using analytics provided by platforms like Facebook and Instagram to understand what content resonates with the audience. She also recommends using other digital marketing tools like newsletters to maintain client engagement.

The Time it Takes to Convert Leads and the Role of Consistency

When asked about the time it takes to convert leads through social media, Manicia acknowledges that it requires consistency and building a community. She advises that Instagram is still powerful, especially with the younger generation, while Facebook is more popular among the older generation. Despite the emergence of newer platforms like TikTok, Facebook remains the largest social media platform with the most users.

The Debate on Paid Advertising

On the topic of paid advertising, Manicia primarily focuses on organic strategies for her clients, especially for solo entrepreneurs and those in the early stages of their careers. She advises against paid advertising unless the target audience is well-known, as it can be a waste of money without desired results. Manicia recommends starting with organic methods and understanding the target audience before investing in paid advertising.

Converting the Community into Clients

Regarding converting the community into clients, Manicia explains that strategies constantly change due to evolving social media features. Currently, she suggests using Instagram Reels and selecting relevant topics to reach people interested in specific subjects. For example, if a realtor is showcasing properties in Florida, using the topic “destination” can attract viewers interested in vacationing or buying vacation homes in Florida.

Manicia also emphasizes the importance of visually pleasing video content with a hook. This, she believes, is a key strategy in capturing and retaining the attention of potential clients.

In conclusion, Manicia’s insights into the world of digital marketing for real estate agents are invaluable. Her emphasis on building a community, creating engaging content, and leveraging organic social media strategies provide a roadmap for realtors looking to enhance their online presence and reach their target audience effectively.

The Power of KPIs in Asset Management

I recently had the opportunity to host an enlightening session where we delved into the world of Key Performance Indicators (KPIs) in asset management. I have emphasized the critical role of KPIs in making informed decisions, optimizing operations, and ensuring the success of multifamily investments.

The Importance of Collecting and Reviewing KPIs

Our speaker underscored the importance of collecting and reviewing KPIs. They stressed that having clear objectives is the first step in this process. Once you have your goals outlined, you can then identify the relevant KPIs that align with these objectives.

Setting targets and benchmarks is another crucial aspect of this process. These provide a clear path to follow and a standard against which to measure your progress. The speaker also highlighted the need for accurate data collection. Without reliable data, your KPIs will not provide a true reflection of your operations.

Analyzing Data and Implementing Strategic Changes

Once you have collected your data, the next step is to review and analyze it. This analysis will provide insights into your operations, helping you identify areas that need improvement. Based on these insights, you can then implement strategic changes to optimize your operations.

The Role of Communication and Continuous Improvement

Our speaker emphasized the importance of communicating progress. Sharing your KPIs and the progress made towards achieving them keeps everyone in the loop and fosters a culture of transparency.

Continuous improvement was another key theme in our discussion. The speaker encouraged listeners to always strive for better, to keep refining their processes, and to adapt to market changes.

Focusing on Tenant Satisfaction and Leveraging Technology

The speaker also touched on the importance of tenant satisfaction. They noted that happy tenants are more likely to renew their leases, which contributes to the success of multifamily investments.

In our increasingly digital world, the speaker also highlighted the importance of leveraging technology in managing KPIs. Technology can automate data collection and analysis, making the process more efficient and accurate.

KPIs in the Leasing Process

Our speaker shared examples of KPIs related to the leasing process, such as the number of new leases signed, the renewal rate, and the average time it takes to fill a vacancy. Tracking and reviewing these KPIs can help identify areas for improvement and optimize the leasing process.

Conclusion: The Power of KPIs in Enhancing Performance

In conclusion, follow these best practices to enhance the performance of their multifamily properties and achieve better results. By collecting, reviewing, and implementing KPIs, you can make informed decisions, optimize your operations, and ensure the success of your investments.

I hope you found it as enlightening as I did, and that you’ll join me for more insightful discussions in future episodes.

Please watch the full session:

Link: https://youtu.be/W–TJhW8E6Y?si=Pf2CdjJKCyXcf02D

Subtitle: The Journey to Real Estate Investing

Hello everyone! I recently had the pleasure of hosting Ted Patel, the founder and CEO of Astre Capital, on my podcast. Ted is not only a successful real estate investor but also the host of the Decoding Cash Flow podcast. He has helped many people achieve their dreams of passive real estate investing, and I was thrilled to have him share his insights with us.

Ted’s journey into real estate is quite fascinating. He moved to the US in 2000 to pursue a master’s degree in computer science and later worked with investment banks on Wall Street. However, the financial crisis of 2008 led to a significant shift in his career. After being laid off, Ted decided to take control of his future and ventured into entrepreneurship. His first business was a truck stop in Florida, but a friend in the construction business sparked his interest in real estate.

Subtitle: The Shift to Passive Real Estate Investing

Ted’s transition from active to passive real estate investing was not an overnight decision. It was a significant accident in 2017 that led him to focus on multifamily properties and strive for passive income. Ted emphasized the importance of commitment and being genuinely interested in achieving your goals. He credits his success to networking, seeking guidance from experienced individuals in the industry, and surrounding himself with like-minded people.

Subtitle: The Challenges and Opportunities in Ground-Up Development

When I asked Ted about his involvement in ground-up development in the local market, he acknowledged the impact of interest rates but remained optimistic about the opportunities in the multifamily market, particularly in New Jersey. He explained that low inventory and cash buyers contribute to the demand for luxury family houses. Despite the price stabilization since the start of the COVID-19 pandemic, Ted has been able to achieve a 20-25% return on new projects.

Subtitle: Habits for Success

Ted also shared some of his habits that contribute to his success. He starts his day at 5:00 am with exercise, meditation, and planning. He also emphasized the importance of reading before bedtime. One book that has greatly influenced his perspective on wealth and investing is “Rich Dad Poor Dad” by Robert Kiyosaki.

In conclusion, Ted’s journey from Wall Street to real estate investing is a testament to his resilience and determination. His insights into the world of real estate investing, particularly in the multifamily market, are invaluable. Whether you’re an aspiring real estate investor or just interested in learning more about the industry, I hope you find Ted’s experiences and advice as enlightening as I did.

Subtitle: A Journey from Tech to Real Estate

As the host of this podcast, I had the pleasure of interviewing Madhavi Jain, the president and wealth strategist at Think Outside the Stocks. Madhavi, with her background in tech and experience working for a top consulting company, made a successful transition to real estate. Her motivation? The pursuit of financial freedom and the desire to provide her daughter with choices not limited by financial constraints.

Subtitle: The Two-Fold Approach to Wealth Generation

Madhavi’s approach to wealth generation is two-fold: infinite banking and risk management investing in commercial real estate syndications. She clarified that infinite banking is not an investment strategy, but a savings strategy. It’s about harnessing your own money, becoming your own bank, and reaping benefits that traditional banks don’t offer, such as high growth and tax-free compounding.

Subtitle: Infinite Banking in Action

To illustrate how infinite banking works, Madhavi provided an example of how one can start with a certain amount of money each year and watch it grow over time. She further explained how individuals can leverage their savings within the infinite banking system for various purposes, such as using it as a down payment for a rental property.

Infinite banking allows individuals to use their savings as collateral to borrow money from insurance companies or third-party lenders. This borrowed money can then be invested in opportunities that offer higher returns, such as real estate or syndications. The growth inside the investments is compounding, while individuals pay simple interest on the borrowed money. This unique strategy allows individuals to have the same dollar working in two different places simultaneously.

Subtitle: The Specifics of Infinite Banking

Infinite banking is not your ordinary life insurance and requires a specific structure. It’s crucial to work with professionals who understand this concept and can create a proposal based on health and age criteria. The beauty of infinite banking lies in its flexibility and lack of restrictions. There are no credit checks or closing costs, and individuals can access the money at any time for any purpose, regardless of age. The system also offers asset protection and can be used for retirement income or estate tax planning.

Subtitle: Investment Opportunities and the Importance of Consistency

Madhavi highlighted the industrial asset class as a recession-resistant option due to its low vacancy rates and global manufacturing trends. She emphasized the significance of partnering with experienced operators who have a track record of consistent payments. Her fund model allows investors to customize their allocations based on their investment needs and goals.

Madhavi’s offerings include the Final 506(c) for accredited investors in her fund model, while the infinite banking system is available to anyone regardless of accreditation. She shared that consistency is key to her success, both in terms of daily habits and providing education and support to investors.

Subtitle: Influences and Contact Information

Books like “Miracle Morning” and “Atomic Habits” have influenced Madhavi, emphasizing the importance of building routines and habits. Listeners can connect with Madhavi through her website, Think Outside the Stocks, where they can learn more about her unique approach to wealth generation and preservation.

In conclusion, my conversation with Madhavi Jain was a deep dive into the world of infinite banking and real estate syndications. Her insights and strategies offer a fresh perspective on wealth generation and preservation, making this episode a must-listen for anyone interested in financial freedom.

As a podcast host, I recently had the pleasure of welcoming Ray Heimann, co-founder of Terra Capital, onto my show. Ray is an investor who has made a name for himself by focusing on strategies that drive strong risk-adjusted returns. He has helped build an investment engine that transforms small, outdated residential real estate assets into larger, modern portfolios of 100+ units across the US.

The Journey to Real Estate Investment

Ray’s journey into real estate investment began with his entrepreneurial parents. His mother owned an architecture and construction firm, which gave him his first taste of real estate. After moving to New York and attending Columbia University, he met his business partner, Tom Higgins, a developer. Together, they started buying smaller multifamily properties in New York City, opening Ray’s eyes to the opportunities in the mini multifamily space.

The Appeal of Mini Multifamily Properties

When asked about his preference for mini multifamily properties, Ray explained that these properties are too big for flippers and too small for developers, giving them a competitive advantage. They can buy these properties at extremely low prices per unit and later sell them as a portfolio for higher prices per unit. Ray mentioned that they focus on value-add multifamily investments and have achieved a 23x net return on capital for their investors.

Overcoming Operational Challenges

Operating at scale in the mini multifamily space is challenging, but Ray and his team have found ways to overcome these hurdles. They employ strict processes, utilize technology, and hire skilled management personnel to handle maintenance, leasing, and other operational tasks. Technology plays a crucial role in their operations, streamlining the process of renting units and automating the move-in and move-out inspection process.

The Role of Technology in Real Estate Management

Ray discussed the streamlined process they have implemented for renting units. Prospective tenants are required to submit their ID and undergo a preliminary background check before they can proceed with renting a unit. This initial step helps filter out less serious applicants. The team’s involvement in the process is minimal, with their main focus being on ensuring the listing looks good on platforms like Zillow. The actual virtual tours with prospective tenants take only 5 to 10 minutes, allowing for flexibility in scheduling and catering to those who prefer contactless interactions.

Selecting Recession-Resistant Markets

When it comes to selecting markets, Ray explained that they focus on recession-resistant markets that performed well during the 2007-2008 financial crisis. They target areas with job bases in healthcare, education, business services, and technology, as these industries tend to be more resilient.

The Cost of Renovations and Pricing Properties

Ray discussed the cost of renovations and the pricing of their properties. Their renovations typically cost between $100 to $120 per square foot at the entry level, but by the time they are finished, the cost increases to $150 to $170 per square foot. However, when they sell the properties as a portfolio, they are able to price them at $240 to $270 per square foot, with some properties reaching the high two hundreds or low three hundreds, depending on the market.

Offering Near-Luxury Finishes at Affordable Prices

Ray explained that the reason for the higher pricing is because they aim to produce a product with near-luxury finishes that appeals to the upper end of the workforce housing market. Their properties have amenities such as washer-dryers, white subway tiles, and hardwood flooring, similar to those found in large-scale multifamily developments. However, they offer these properties at a 35% discount in rent, making them more affordable for tenants.

Building a Reputation in New Markets

Ray acknowledged that one of their challenging experiences was building a reputation in markets where they were new. However, they have managed to overcome this challenge and have even hosted an appreciation event for their local network in one of their midwestern markets, showcasing the success they had achieved by bringing together the right people with the right strategy in the right place.

A Mutual Appreciation

At the end of our conversation, Ray expressed his gratitude for the opportunity to be a part of the podcast and his eagerness to stay in touch and continue the conversation. I assured him that we would indeed stay connected and continue discussing these topics. This exchange reflects the mutual appreciation between us and our shared interest in maintaining a connection and further exploring the subjects discussed during the podcast.

In conclusion, my conversation with Ray Heimann provided valuable insights into the world of real estate investment, particularly in the mini multifamily space. His strategies, use of technology, and focus on recession-resistant markets offer a unique perspective on how to succeed in this industry. I look forward to continuing our conversation and learning more about his innovative approach to real estate investment.

In a recent episode of my podcast, I had the pleasure of hosting Rod Khleif, a renowned real estate investor, entrepreneur, author, mentor, and philanthropist. Rod’s journey, which spans over four decades, is a testament to the power of mindset, resilience, and the pursuit of passion.

The Journey of a Lifetime

Rod’s journey began when he immigrated from the Netherlands at a young age. Inspired by his mother’s success in real estate, Rod embarked on a path that would lead him to become a successful real estate investor. His podcast, “The Lifetime Cashflow through Real Estate Investing,” has reached over 17 million downloads, a testament to his expertise and the value he provides to his listeners.

Despite the challenges posed by the current economic climate, Rod encourages us to stay focused on our goals and not get caught up in negative news and politics. His book, “How to Create Lifetime Cash Flow through Multifamily Properties,” and his coaching program have transformed the lives of over 1,200 students who collectively own over 170,000 units.

The Power of Mindset

Rod emphasizes the importance of mindset in achieving success. He shares personal anecdotes from his childhood, including being bullied and developing a belief that he wasn’t good enough. He encourages us to consciously recognize and challenge these limiting beliefs, referring to belief systems as “BS” because they are often irrational and unfounded.

Rod advises against being paralyzed by analysis and urges us to take that first step towards our goals. He highlights the significance of avoiding regrets and living a life true to oneself. He also mentions the current opportunities in the real estate market, particularly in multifamily properties, and invites us to attend his upcoming boot camp for comprehensive training in the field.

The Abundance Mindset

Rod believes that we live in an abundant society and that success and wealth come from having an abundance mindset. He encourages gratitude and finding one’s passion as keys to living in abundance. He shares his experience of having to innovate and pivot during the COVID-19 pandemic, highlighting the importance of adaptability in the face of change.

The Current Market Situation

Rod discusses the significant amount of bridge debt coming due, amounting to $16 trillion in commercial real estate debt by the end of next year. He predicts that there will be a lot of capital calls and investors seeking more funds, leading to deals going south and potential foreclosures. However, he remains optimistic about the opportunities that will arise from the market downturn, as he believes there will be incredible opportunities to buy distressed assets.

Personal Habits for Success

Rod shares that he practices a manifestation exercise every morning, where he expresses gratitude for the things he already has and also for the things he desires as if he already has them. He emphasizes the importance of gratitude and manifestation in bringing things into one’s life.

He shares a personal story about achieving his dream home on the beach and how he felt a sense of emptiness and depression after accomplishing it. He realized that happiness comes from progress and growth, and without a vision for the future, he felt lost. He also learned the importance of giving back and how it brings fulfillment.

Giving Back

Rod’s philanthropic work, particularly his foundation that has benefited over 140,000 children, is a source of immense pride for him. He encourages us to give back, emphasizing the fulfillment that comes from helping others.

Free Resources for Success

Rod generously offers free resources to listeners, including a goal-setting workshop that he usually conducts at his boot camp. He encourages listeners to check out his podcast and take advantage of these resources.

A Conversation to Remember

I am grateful to Rod for sharing his journey and discussing mindset and the current market situation. His insights and the habits that have contributed to his success are invaluable. Rod’s generosity in providing valuable resources to listeners and his willingness to help them succeed in their own real estate endeavors is truly inspiring.

In conclusion, Rod Khleif’s journey is a testament to the power of mindset, resilience, and the pursuit of passion. His insights and experiences provide valuable lessons for anyone looking to succeed in real estate investing and beyond.

I hope you’re all doing well and staying motivated on your journey towards success. Today, I have an incredible episode to share with you that will inspire and empower you to take control of your life and build a fulfilling future.

The subject line for this episode is “From 0 to 70 Units: Building a Life Worth Living with Kyle Root.” And let me tell you, this conversation with Kyle Root, a real estate investor and coach, is packed with valuable insights and practical tips that you won’t want to miss.

Kyle shares his remarkable journey of going from 0 to 70 units in just two years, all without using syndication or joint ventures. Can you believe it? He left his W2 job at the young age of 26 and has been scaling his real estate business ever since. But it’s not just about the numbers for Kyle. He believes in finding purpose and building a life worth living.

During our conversation, Kyle dives deep into the importance of daily habits, discipline, and overcoming obstacles. He shares how he discovered his unique purpose through real estate investing and how it has transformed his life.

But that’s not all. Kyle also reveals his strategies for finding properties and analyzing deals. He explains how they buy almost 80% of their properties right off the MLS, uncovering hidden gems that others often overlook. And when it comes to selecting markets and properties, Kyle shares his focus on the Midwest, particularly in Wisconsin.

One of the key takeaways from our conversation is Kyle’s approach to property management. He explains why he chooses to use third-party property management and how it allows him to focus on scaling his business while maximizing his time and profits. He also shares valuable tips on vetting property management companies and leveraging their strengths.

Now, let me wrap everything up with an impactful sentence and an interesting quote from Kyle himself. Kyle says, “View real estate investments as financial decisions, not personal preferences.” Wise words, my friend. It’s all about making smart choices that attract renters and meet market criteria.

I hope this brief summary has piqued your interest and left you wanting more. If you’re ready to dive deeper into Kyle’s incredible journey and learn from his experiences, I highly encourage you to listen to this episode. Trust me, you won’t be disappointed.

So, grab your headphones, find a cozy spot, and tune in to this inspiring conversation with Kyle Root on Multifamily AP360 podcast. It’s time to take control of your life and build a future worth living.

So, if you’re interested in real estate investing, Tune in now,  this episode of Multi-Family AP 360 !