The Multifamily Innovation Show™ https://multifamilyinnovation.com/blog-sidebar/ The Multifamily Innovation Show™ Tue, 30 Jul 2019 05:50:10 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 https://multifamilyinnovation.com/wp-content/uploads/2019/07/cropped-mf-leadership-m-32x32.jpg The Multifamily Innovation Show™ https://multifamilyinnovation.com/blog-sidebar/ 32 32 Patrick Antrim, Founder and CEO of Multifamily Leadership, Producers of the Multifamily Leadership Innovation Summit, the Multifamily Women's Summit, and the Best Places to Work Multifamily® will bring you success strategies for Multifamily CEOs, executive leaders and aspiring leaders that want to drive high performance results for their portfolio. <br /> <br /> Innovation has always been about people. We are changing the way products are introduced to the Apartment Industry. This show will bring you some of the most innovative minds in the Apartment Industry. Patrick Antrim clean episodic Patrick Antrim patrickantrim@gmail.com patrickantrim@gmail.com (Patrick Antrim) Where Innovation, Technology, and Leadership Converge The Multifamily Innovation Show™ https://multifamilyinnovation.com/wp-content/uploads/powerpress/3000px.jpg https://multifamilyinnovation.com/blog-sidebar/ patrick@inmultifamily.com Patrick Antrim, Founder and CEO of Multifamily Leadership, Producers of the Multifamily Leadership Innovation Summit, the Multifamily Women's Summit, and the Best Places to Work Multifamily® will bring you success strategies for Multifamily CEOs, executive leaders and aspiring leaders that want to drive high performance results for their portfolio. Innovation has always been about people. We are changing the way products are introduced to the Apartment Industry. This show will bring you some of the most innovative minds in the Apartment Industry. Technology and the Reposition of Multifamily Assets https://multifamilyinnovation.com/technology-and-the-reposition-of-multifamily-assets/ Wed, 21 Nov 2018 15:50:20 +0000 https://installers.qantumthemes.xyz/wpcast/demo/?p=92 https://multifamilyinnovation.com/technology-and-the-reposition-of-multifamily-assets/#respond https://multifamilyinnovation.com/technology-and-the-reposition-of-multifamily-assets/feed/ 0 Brian is the co-founder and Director of Construction for Urban Complex. He started his career in the construction industry in 1997 and obtained his first general contractor's license in 2003. He has owned several businesses in the industry, including roofing, electrical, flooring, and cabinets. Brian Donnelly and Andrew Jones of Urban Complex on What Drives Their Efficiency and Creating MapAp

Brian is the co-founder and Director of Construction for Urban Complex. He started his career in the construction industry in 1997 and obtained his first general contractor’s license in 2003. He has owned several businesses in the industry, including roofing, electrical, flooring, and cabinets.

With more than 25 years of construction experience, he’s been involved in hundreds of residential home and multifamily renovations, as well as new construction. He’s a leader in the industry and known for his innovative processes on how to turn over quality renovations in 11 to 15 business days and do occupied units turns in eight hours.

Brian leads the company with his sense of urgency and commitment to always meeting and exceeding their clients’ expectations.

Andrew Jones

Andrew is the co-founder and Director of Business for Urban Complex. He studied both mechanical engineering and business administration and holds a degree in business management from the School of Business and Economics from Western Washington University.

Andrew holds several patents in the medical space and has developed, matured, and sold several businesses in the high-tech and medical device sectors. He leads the office financial administration and professional management teams.

Andrew is consistently looking to improve efficiencies throughout the organization in a never-ending effort to improve quality and pricing for their partners in multifamily.

MapAp

MapAp is an app developed and used by Urban Complex to be more efficient in their turns. This tool gives them an advantage by being able to direct their crews and subcontractors to the units directly in a matter of minutes without confusion on where to go.

In This Episode

Patrick talks about the following with Brian and Andrew:

  • Exciting things about multifamily repositions.
  • What Urban Complex is doing differently to bring better teams to multifamily repositions.
  • How Urban Complex is getting units done in 11 to 15 days.
  • How Urban Complex makes use of electronic calendars to manage their projects.
  • The process and value engineering that Urban Complex brings to their projects.
  • What the culture in Urban Complex is like and the importance of trust in the relationships they build.
  • Urban Complex’s leadership approach that’s driving the efficiency in their outcomes.
  • How Urban Complex is hiring from outside the industry and training them with the necessary skills.
  • The importance of communication in Urban Complex’s success.
  • What led Urban Complex to create MapAp and how they are using it to be more efficient.
  • How MapAp can be used in other industries.
  • What’s next for MapAp.

Find Urban Complex Online

No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure.

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Brian is the co-founder and Director of Construction for Urban Complex. He started his career in the construction industry in 1997 and obtained his first general contractor's license in 2003. He has owned several businesses in the industry, Brian Donnelly and Andrew Jones of Urban Complex on What Drives Their Efficiency and Creating MapAp



Brian is the co-founder and Director of Construction for Urban Complex. He started his career in the construction industry in 1997 and obtained his first general contractor’s license in 2003. He has owned several businesses in the industry, including roofing, electrical, flooring, and cabinets.



With more than 25 years of construction experience, he’s been involved in hundreds of residential home and multifamily renovations, as well as new construction. He’s a leader in the industry and known for his innovative processes on how to turn over quality renovations in 11 to 15 business days and do occupied units turns in eight hours.



Brian leads the company with his sense of urgency and commitment to always meeting and exceeding their clients’ expectations.



Andrew Jones



Andrew is the co-founder and Director of Business for Urban Complex. He studied both mechanical engineering and business administration and holds a degree in business management from the School of Business and Economics from Western Washington University.



Andrew holds several patents in the medical space and has developed, matured, and sold several businesses in the high-tech and medical device sectors. He leads the office financial administration and professional management teams.



Andrew is consistently looking to improve efficiencies throughout the organization in a never-ending effort to improve quality and pricing for their partners in multifamily.



MapAp



MapAp is an app developed and used by Urban Complex to be more efficient in their turns. This tool gives them an advantage by being able to direct their crews and subcontractors to the units directly in a matter of minutes without confusion on where to go.



In This Episode



Patrick talks about the following with Brian and Andrew:



* Exciting things about multifamily repositions.* What Urban Complex is doing differently to bring better teams to multifamily repositions.* How Urban Complex is getting units done in 11 to 15 days.* How Urban Complex makes use of electronic calendars to manage their projects.* The process and value engineering that Urban Complex brings to their projects.* What the culture in Urban Complex is like and the importance of trust in the relationships they build.* Urban Complex’s leadership approach that’s driving the efficiency in their outcomes.* How Urban Complex is hiring from outside the industry and training them with the necessary skills.* The importance of communication in Urban Complex’s success.* What led Urban Complex to create MapAp and how they are using it to be more efficient.* How MapAp can be used in other industries.* What’s next for MapAp.



Find Urban Complex Online



* Urban Complex Website* MapAp Website



No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure.




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Patrick Antrim clean 39:20
A Journey to a Culture of Innovation https://multifamilyinnovation.com/a-journey-to-a-culture-of-innovation/ Sun, 04 Nov 2018 17:44:21 +0000 https://multifamilyinnovation.com/?p=1291 https://multifamilyinnovation.com/a-journey-to-a-culture-of-innovation/#respond https://multifamilyinnovation.com/a-journey-to-a-culture-of-innovation/feed/ 0 K.P. Reddy, Founder of Shadow Ventures, a globally-recognized authority in the built environment and a civil engineer from the Georgia Institute of Technology. For more than 25 years, he has been a technologist, subject matter expert, founder, CEO, and investor. K.P. Reddy on Collaboration and Having a Startup Mindset When Building Communities and Implementing Ideasnd Creating MapAp

K.P. Reddy, Founder of Shadow Ventures, a globally-recognized authority in the built environment and a civil engineer from the Georgia Institute of Technology. For more than 25 years, he has been a technologist, subject matter expert, founder, CEO, and investor.

K.P. has had many roles, including selling three large built-tech companies. He has been featured in The Wall Street Journal, The Huffington Post, Fox News, TechCrunch, and so many more.

In This Episode

Patrick and K.P. discuss the following in this podcast:

  • What K.P. is into.
  • P.’s thoughts on productivity and taking time off.
  • What K.P. thinks of the multifamily space and where it’s heading.
  • Lessons and ideas from startups that can be applied or used in multifamily.
  • How to sell and market an idea to millennials.
  • How to start something so that ideas lead to great results.
  • What K.P. thinks of using new technology and innovations to transform an organization.
  • P.’s opinion on how to attract talent and bring teams in for innovation in the multifamily industry.

Find K.P. Online

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K.P. Reddy, Founder of Shadow Ventures, a globally-recognized authority in the built environment and a civil engineer from the Georgia Institute of Technology. For more than 25 years, he has been a technologist, subject matter expert, founder, CEO, K.P. Reddy on Collaboration and Having a Startup Mindset When Building Communities and Implementing Ideasnd Creating MapAp



K.P. Reddy, Founder of Shadow Ventures, a globally-recognized authority in the built environment and a civil engineer from the Georgia Institute of Technology. For more than 25 years, he has been a technologist, subject matter expert, founder, CEO, and investor.



K.P. has had many roles, including selling three large built-tech companies. He has been featured in The Wall Street Journal, The Huffington Post, Fox News, TechCrunch, and so many more.



In This Episode



Patrick and K.P. discuss the following in this podcast:



* What K.P. is into.* P.’s thoughts on productivity and taking time off.* What K.P. thinks of the multifamily space and where it’s heading.* Lessons and ideas from startups that can be applied or used in multifamily.* How to sell and market an idea to millennials.* How to start something so that ideas lead to great results.* What K.P. thinks of using new technology and innovations to transform an organization.* P.’s opinion on how to attract talent and bring teams in for innovation in the multifamily industry.



Find K.P. Online



* P. Reddy on LinkedIn* P. Reddy’s website




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Patrick Antrim clean 45:08
Technology is Changing the Way We Work in Multifamily https://multifamilyinnovation.com/technology-is-changing-the-way-we-work-in-multifamily/ Wed, 10 Oct 2018 18:25:58 +0000 https://multifamilyinnovation.com/?p=1298 https://multifamilyinnovation.com/technology-is-changing-the-way-we-work-in-multifamily/#respond https://multifamilyinnovation.com/technology-is-changing-the-way-we-work-in-multifamily/feed/ 0 Scott Pechersky is the Senior Vice President of Technology for Alliance Residential Company. He is responsible for Alliance’s corporate infrastructure which includes developing and implementing new technologies across their portfolio and providing support and training to property associates for the latest in IT initiatives. Scott also oversees Alliance’s property management [...] Scott Pechersky on Bringing in New Technology and Innovation to Move a Business Forward

Scott Pechersky is the Senior Vice President of Technology for Alliance Residential Company. He is responsible for Alliance’s corporate infrastructure which includes developing and implementing new technologies across their portfolio and providing support and training to property associates for the latest in IT initiatives. Scott also oversees Alliance’s property management software solutions, its business intelligence division, online leasing platforms, resident portals, and additional third-party programs for communities.

In This Episode

Patrick and Scott talk about the following:

  • What Scott is excited about in the multifamily industry today.
  • Scott’s thoughts on the next level of employees and their new essential skills.
  • How Scott deals with employee fears of technology and how it is changing the industry.
  • The importance of employees buying into a newly introduced technology.
  • How Alliance regularly puts their different teams together to make sure everyone is on the same page.
  • Scott’s opinion on the best way a company can integrate new technology.
  • How an executive of a company can bring in innovation and position the company.
  • How to have customer focus in designing and deciding on technology to bring into the business.
  • Rolling out home automation tools and systems and creating smart homes.
  • What makes Alliance different and how they are gathering, making use, and analyzing of data.
  • How Scott and Alliance convince someone who is already enjoying success to take risks in trying out new technologies.
  • Scott on identifying when a new technology is not working out and shelving it for a different time.
  • What Scott looks for in a chief innovation officer/chief technology.
  • Scott on leveraging the net worth work environment where everyone has a voice, not just the executive team.

Find Scott Pechersky Online

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Scott Pechersky is the Senior Vice President of Technology for Alliance Residential Company. He is responsible for Alliance’s corporate infrastructure which includes developing and implementing new technologies across their portfolio and providing supp... Scott Pechersky on Bringing in New Technology and Innovation to Move a Business Forward



Scott Pechersky is the Senior Vice President of Technology for Alliance Residential Company. He is responsible for Alliance’s corporate infrastructure which includes developing and implementing new technologies across their portfolio and providing support and training to property associates for the latest in IT initiatives. Scott also oversees Alliance’s property management software solutions, its business intelligence division, online leasing platforms, resident portals, and additional third-party programs for communities.



In This Episode



Patrick and Scott talk about the following:



* What Scott is excited about in the multifamily industry today.* Scott’s thoughts on the next level of employees and their new essential skills.* How Scott deals with employee fears of technology and how it is changing the industry.* The importance of employees buying into a newly introduced technology.* How Alliance regularly puts their different teams together to make sure everyone is on the same page.* Scott’s opinion on the best way a company can integrate new technology.* How an executive of a company can bring in innovation and position the company.* How to have customer focus in designing and deciding on technology to bring into the business.* Rolling out home automation tools and systems and creating smart homes.* What makes Alliance different and how they are gathering, making use, and analyzing of data.* How Scott and Alliance convince someone who is already enjoying success to take risks in trying out new technologies.* Scott on identifying when a new technology is not working out and shelving it for a different time.* What Scott looks for in a chief innovation officer/chief technology.* Scott on leveraging the net worth work environment where everyone has a voice, not just the executive team.



Find Scott Pechersky Online



* Scott Pechersky on LinkedIn* Alliance Residential




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Patrick Antrim clean 50:41
The Pulse on Gen Z and How Buildings Will Interact https://multifamilyinnovation.com/the-pulse-on-gen-z-and-how-buildings-will-interact/ Sun, 07 Oct 2018 22:11:43 +0000 https://multifamilyinnovation.com/?p=1316 https://multifamilyinnovation.com/the-pulse-on-gen-z-and-how-buildings-will-interact/#respond https://multifamilyinnovation.com/the-pulse-on-gen-z-and-how-buildings-will-interact/feed/ 0 Kerry Kirby is an entrepreneur, speaker, and technology innovator. He’s the founder and CEO of 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry. Kerry has propelled his 365 Connect brand from a scrappy boot-strapped startup to an internationally known and [...] Kerry W. Kirby on Generation Z, Millennials, Digital Technologies, and How They are Affecting the Multifamily Industry

Kerry Kirby is an entrepreneur, speaker, and technology innovator. He’s the founder and CEO of 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry. Kerry has propelled his 365 Connect brand from a scrappy boot-strapped startup to an internationally known and recognized company. He has been a guest lecturer, featured speaker, and panelist at numerous universities, national conferences, and events. He’s been featured on BBC Digital Planet program, NPR News, and various other media outlets. He’s written the foreword to a nationally published book on real estate and technology and co-hosted over 100 industry webcasts reaching over one million listeners. He’s often quoted as an expert on technology.

Download the FREE Mobile Renter Report

In This Episode

Patrick and Kerry discuss the following:

  • What the 365 Connect story is, how it started, and where it is going.
  • Kerry’s thoughts on web-based technologies and using these platforms in property management.
  • The other brands that Kerry has developed – MultifamilyBiz.com and uCribs.com.
  • What Kerry thinks is driving the change in user experience today.
  • Kerry’s take on Generation Z and millennials and how these groups are emerging in the multifamily industry.
  • Kerry’s thoughts on the future of acquisitions and development from a financial and investment standpoint with the impact to the autonomous driving vehicle.
  • What’s different in the behavior of Gen Z and millennials.
  • The expectations of Gen Z and millennials and the kind of user experience and services that will appeal to them.
  • The different technologies that can be used and are being used in the multifamily industry.
  • What the multifamily industry needs to be aware of when it comes to data and how to deal with the data being collected.
  • The way people are interacting with buildings now.

Download the FREE Mobile Renter Report

Find Kerry W. Kirby Online

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Kerry Kirby is an entrepreneur, speaker, and technology innovator. He’s the founder and CEO of 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry. Kerry W. Kirby on Generation Z, Millennials, Digital Technologies, and How They are Affecting the Multifamily Industry



Kerry Kirby is an entrepreneur, speaker, and technology innovator. He’s the founder and CEO of 365 Connect, a leading provider of award-winning marketing, leasing, and resident technology platforms for the multifamily housing industry. Kerry has propelled his 365 Connect brand from a scrappy boot-strapped startup to an internationally known and recognized company. He has been a guest lecturer, featured speaker, and panelist at numerous universities, national conferences, and events. He’s been featured on BBC Digital Planet program, NPR News, and various other media outlets. He’s written the foreword to a nationally published book on real estate and technology and co-hosted over 100 industry webcasts reaching over one million listeners. He’s often quoted as an expert on technology.



Download the FREE Mobile Renter Report



In This Episode



Patrick and Kerry discuss the following:



* What the 365 Connect story is, how it started, and where it is going.* Kerry’s thoughts on web-based technologies and using these platforms in property management.* The other brands that Kerry has developed – MultifamilyBiz.com and uCribs.com.* What Kerry thinks is driving the change in user experience today.* Kerry’s take on Generation Z and millennials and how these groups are emerging in the multifamily industry.* Kerry’s thoughts on the future of acquisitions and development from a financial and investment standpoint with the impact to the autonomous driving vehicle.* What’s different in the behavior of Gen Z and millennials.* The expectations of Gen Z and millennials and the kind of user experience and services that will appeal to them.* The different technologies that can be used and are being used in the multifamily industry.* What the multifamily industry needs to be aware of when it comes to data and how to deal with the data being collected.* The way people are interacting with buildings now.



Download the FREE Mobile Renter Report



Find Kerry W. Kirby Online



* Kerry W. Kirby on LinkedIn* 365 Connect Website* MultifamilyBiz* Ucribs.com




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Patrick Antrim clean 51:59
Talent, the last real Competitive Advantage in Multifamily https://multifamilyinnovation.com/talent-the-last-real-competitive-advantage-in-multifamily/ Wed, 03 Oct 2018 22:42:10 +0000 https://multifamilyinnovation.com/?p=1319 https://multifamilyinnovation.com/talent-the-last-real-competitive-advantage-in-multifamily/#respond https://multifamilyinnovation.com/talent-the-last-real-competitive-advantage-in-multifamily/feed/ 0 Kristen Reese is Vice President of Talent and Culture at the Bozzuto Group. She joined Bozzuto in 2011 and currently leads the strategic execution of all programs and initiatives under the umbrella of employer branding, recruitment, marketing, talent acquisition, and diversity and inclusion. Aligning people strategy with business strategy, she [...] Bozzuto’s Kristen Reese on Aligning People Strategy with Business Strategy in a Multifamily Organization.

Kristen Reese is Vice President of Talent and Culture at the Bozzuto Group. She joined Bozzuto in 2011 and currently leads the strategic execution of all programs and initiatives under the umbrella of employer branding, recruitment, marketing, talent acquisition, and diversity and inclusion. Aligning people strategy with business strategy, she has a proven track record of building progressive, ‘best in class’, award-winning, employer branding, candidate experience, and employee engagement programs that deliver exceptional experiences and business outcomes.

Kristen is a seasoned executive coach in future-focused workplace experience designer. She began her career in hospitality management after graduating from Penn State University. Seven years later, she transitioned to staffing and executive search until moving into corporate human resources in 2006.

Bozzuto is a privately-held real estate services company that specializes in Property Management, Construction, Development and Home Building. Their vision of creating extraordinary experiences for all who touch their brand is inspired by the award-winning, empowered execution of their more than 2500 talented team members.

In This Episode

Patrick and Kristen talk about the following in this podcast:

  • What Kristen is excited about in multifamily and Bozzuto today.
  • How Bozzuto is fostering constant learning as an organization and exploring consumer experience through people.
  • How Bozzuto communicates their values internally and protects these values over time so their legacy and vision stay in place.
  • The different things on the path towards reaching a revenue objective.
  • Implementing change, adopting new technology and practices, overcoming challenges, and keeping people connected in a multifamily organization.
  • How to attract new people and encourage employee retention.
  • Identifying winning elements in the organization that lead to becoming better for the customer and business unit and driving higher business returns.
  • Kristen’s advice on change and innovation.

Find Kristen and Bozzuto Online

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Kristen Reese is Vice President of Talent and Culture at the Bozzuto Group. She joined Bozzuto in 2011 and currently leads the strategic execution of all programs and initiatives under the umbrella of employer branding, recruitment, marketing, Bozzuto’s Kristen Reese on Aligning People Strategy with Business Strategy in a Multifamily Organization.



Kristen Reese is Vice President of Talent and Culture at the Bozzuto Group. She joined Bozzuto in 2011 and currently leads the strategic execution of all programs and initiatives under the umbrella of employer branding, recruitment, marketing, talent acquisition, and diversity and inclusion. Aligning people strategy with business strategy, she has a proven track record of building progressive, ‘best in class’, award-winning, employer branding, candidate experience, and employee engagement programs that deliver exceptional experiences and business outcomes.



Kristen is a seasoned executive coach in future-focused workplace experience designer. She began her career in hospitality management after graduating from Penn State University. Seven years later, she transitioned to staffing and executive search until moving into corporate human resources in 2006.



Bozzuto is a privately-held real estate services company that specializes in Property Management, Construction, Development and Home Building. Their vision of creating extraordinary experiences for all who touch their brand is inspired by the award-winning, empowered execution of their more than 2500 talented team members.



In This Episode



Patrick and Kristen talk about the following in this podcast:



* What Kristen is excited about in multifamily and Bozzuto today.* How Bozzuto is fostering constant learning as an organization and exploring consumer experience through people.* How Bozzuto communicates their values internally and protects these values over time so their legacy and vision stay in place. * The different things on the path towards reaching a revenue objective.* Implementing change, adopting new technology and practices, overcoming challenges, and keeping people connected in a multifamily organization.* How to attract new people and encourage employee retention.* Identifying winning elements in the organization that lead to becoming better for the customer and business unit and driving higher business returns.* Kristen’s advice on change and innovation.



Find Kristen and Bozzuto Online



* Kristen Reese on LinkedIn



* Bozzuto website




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Patrick Antrim clean 55:00
How Shared Data Will Mean More Wins For Affordable Housing https://multifamilyinnovation.com/how-shared-data-will-mean-more-wins-for-affordable-housing/ Mon, 13 Aug 2018 02:39:06 +0000 https://multifamilyinnovation.com/?p=1328 https://multifamilyinnovation.com/how-shared-data-will-mean-more-wins-for-affordable-housing/#respond https://multifamilyinnovation.com/how-shared-data-will-mean-more-wins-for-affordable-housing/feed/ 0 We're seeing this problem happen a lot in our metropolitan areas. You know that's where the jobs are. That's where college grads tend to go and they are some of the most highest cost of living areas in the country. You want a good salary you want to be able [...] Joshua Shokoor: [00:00:01] We’re seeing this problem happen a lot in our metropolitan areas. You know that’s where the jobs are. That’s where college grads tend to go and they are some of the most highest cost of living areas in the country. You want a good salary you want to be able to pay off your college debt. You want a job. You want a career. You know it seems like you have to bite the bullet and live in areas that have high costs of living and high rents.

Patrick Antrim: [00:00:26] That’s Joshua Shakoor. He’s an affordable housing advocate dedicated to elevating organizational efficiency and promoting effective communication to strengthen public and private relationships. He’s devoted the last two years to furthering an understanding of how communities in the 21st century organize themselves and how residents interact with the institutions they construct. Since the fall of 2017 Joshua has worked full time as a data and communications analyst at the NHP Foundation. In late 2018, Joshua will graduate from George Mason University with a master’s degree in urban policy and development concentrating on the role Science and Technology will play in the future design and social function of our cities.

Patrick Antrim: [00:02:20] So housing intersects with every aspect of our live. Our social lives, our communities. And for the last two years or maybe even perhaps more I know you’ve done some deep research on this but you’ve devoted a lot of time in your own personal resources and professional to understand how communities organize themselves and how residents interact with the institutions that they construct. Can you tell us a little bit more about this?

Joshua Shokoor: [00:02:50] So my main thing is looking at you know local governments municipalities and how people inhabit those areas and how their relationships are with you know the different levels of government whether it goes to county state and federal. But yeah I mean mainly how people set up their neighborhoods. I grew up in a very nice neighborhood. City of Falls Church it’s actually ranked as the number one household median income in this country. And also it’s just rated the healthiest and it’s a strange case because it’s a 2.2 square mile city. You can look at it now and you can say it’s growing. How did it get to where it is? And you know there was a lot of community involvement, resident involvement and engagement. You know so many meetings there’s so many people attending but you can if you look at the history of it. It got its independence and its own municipality that 2.2 square miles based on redlining. So you know we can look at the history and how things were organized whether through know homeowner’s association or local governments to where they are now and it’s just trying to get that full scope to understand how city got to where it is and where it’s going. And why you know certain areas are so different socioeconomically wise diversity was than others.

Patrick Antrim: [00:04:27] In order to have an all encompassing program to develop even affordable housing in a community I mean you’ve have bankers involved, you’ve got builders, you have private public partnerships, cities, state issues, local issues, attorneys, accountants, and all these types of programs that come into play. Do we need more expertise in affordable housing or are we just not collecting the right data?

Joshua Shokoor: [00:04:57] So when it comes to housing specifically I would say that it’s not necessarily all these expertise and these individuals with certain titles playing their roles and you know creating affordable housing more so it’s the data sharing between developers and local governments and developers at one another. Academics. Medical facilities different hospitals. The these industries all intersect with one another and have to sort of work together to see what local areas need in comparison to others but to create more affordable housing. The problem that we’re having there is you know you could say mainly for federal government certain programs. You know we have not been funding affordable housing like we used to. Definitely creating less affordable housing than we used to. And again that could be a number of reasons but it would mean that on the road. The subsidies the incentives provided by the federal government and local governments going back to what I was discussing earlier about you know my area where I grew up in. You can see those other areas too. Alexandria City, they’re looking at a crisis where all their affordable housing their covenants are running out. So the years that they were designed like OK this is going to be affordable housing for 20 years for 30 years. All their covenants are running out. So what they’re doing now is they’re having to be innovative and create a meals tax and they created a you know very small meals tax in order to preserve the affordable housing. That was about to run out. So it’s it’s a lot of ingenuity because to create a lot of affordable housing the past but we’re seeing a lot of those now being able to be preserved. And also the new construction is a problem. Whether it’s you know construction prices but you know we’re seeing high or stagnant construction prices then we have to figure out another way to offset those costs. And that comes for tax abatements through through local government or different subsidies like LIHTC through the federal government.

Patrick Antrim: [00:07:23] Should we be thinking differently about affordable housing? I know that you mentioned new development. I think we brought on a lot of supply. Probably one of the peak levels even last year and so most of those developments are because of like you said those construction costs and those performers have to support higher rents. And so but there’s still a demand for affordable housing in these communities. And so what should we be doing to think differently about this?

Joshua Shokoor: [00:07:57] There’s going to continue to be a demand for affordable housing. If we just look at our seniors you know if we want to say one in four Americans require affordable housing you know 10,000 seniors hit retirement age every day and they’re going to be the most hardest hit by this affordable housing crisis. Most of them relies solely on SSI for their income. So it’s understanding how big the problem is. Which I don’t think we always do. We kind of you know isolate certain areas you know or you know again we start to think about public housing and relate that to affordable housing. But I think we should talk about and look at you know where it’s going to be in the future and then try to work together whether it’s you know private industries working with one another and taking government out of it or at least the federal government or having the federal government more involved or having different local governments work together municipalities to understand that you know this is getting externalities come from this. And so it for one municipality to another and that all of these municipalities are facing this problem.

Joshua Shokoor: [00:09:17] I would also like to say that you know going back to the public housing that you know this huge problem that we’re seeing here are slowly being corrected. That was creating affordable housing and low opportunity areas.  So consolidating low income people in low income, low opportunity areas.  Meaning we all know that an area code. And I think it’s pretty given fact that an area code can often determine the opportunities you have in life. I mean zip code.  And so, if you know if we create more affordable housing opportunity areas I think we’re going to get of this stereotype of what we how we see affordable housing. It’s going to be more palatable for different residents and localities especially when we have NIMBY’s you know those people who were like (not in my backyard). But if we look for housing notes, 83 percent of affordable housing is created in those low opportunity areas. So if we can start trying to build affordable housing in high opportunity areas I think that will also help fix this problem.

Patrick Antrim: [00:10:30] Talk to me about your low opportunity areas and these high opportunity areas. Are you looking at this when you said public housing is that sort of the market rate multifamily development where you’ve got your submarkets of class A or you have your submarkets suburban and urban areas but also different A,B,C classes that are un-unrestricted and rent growth is climbing based off of demographics and yields in those marketplaces?

Joshua Shokoor: [00:11:02] We’re talking about public housing, I think most for the layman is thinking Section 8 and thinking problems with Section 8. And they know what they see either in their neighborhoods or what they’ve heard from other people what they see in the media or they have seen on TV they always just think that poor areas with public housing has high crime and they don’t want that. And so that is what they’ve associated affordable housing.

Patrick Antrim: [00:11:35] So the general public’s view on this affordable housing story.  Can we change that story?  Number two, tell me more specifically about the differences between these areas what drives investments in those areas the low opportunities is it just in place scenarios in those communities?

Joshua Shokoor: [00:11:57] We can go back to housing itself is a huge determinant. So you know just having housing is a big deal but low opportunity. You know we usually are going to associate that with you know not that great of education. High crime, not great job opportunities, difficult access to grocery stores, medical clinics, as we would say food deserts. I mean now we’re starting to see it as medical deserts. So if we start moving away from that and putting creating more affordable housing areas that have great good education low crime quality job opportunities access to grocery stores and medical clinics then we will see a change in perception. But I think first you know when it comes to affordable housing you know it’s going to have to come. Either we’re going to work through a public policy landscape and through that we’re going to have to educate constituents on what a formal housing means and why it should relate to them. Or you know we’re going to have to take another route and it’s going to have to be a lot of the private sector leading the way. And that’s again where we went away from what was a good thing of moving away from strictly problem housing publicly funded developments. Now we’ve got private organizations and they’re just like my organization NHP Foundation who are preserving or creating new construction for housing with different mechanisms and an ability then you know the public sector really has. And again we’re seeing that right now different affordable housing organizations and us the NHP Foundation are we’re looking at working with hospitals to you know create affordable housing or provide housing and low income for individuals who need it most. Each hospital will see that either homeless or those people who are not in stable housing – they are the highest users of hospital care and that a prescription to prevent that is just stable housing. That’s where we’re seeing the medical industry is finding incentives to work with affordable housing industry currently.

Patrick Antrim: [00:14:26] You mentioned schools and hospitals in these city platforms and even in these low level opportunities. Is this where your conversation about data. We’re all sharing that data. You’re providing better education, better informed decisions around growth in these areas. Are the cities at the core of all of this?

Joshua Shokoor: [00:14:49] I think that they have the best assets to be able to collect that data. Whether it’s human services, certain housing authorities, even law enforcement. Affordable housing developers or hospitals to be able to collect that data, you’re going to have an opportunity to see where they are currently and how well you can produce certain numbers. If local governments are financially burdened because of you know high crime or in-stable housing and homelessness. You can see those numbers currently as they are. And what happens to those numbers once an affordable housing development comes in.  Especially if they work hand in hand with say a hospital. But everyone sharing that data and then be able to evaluate over time over a period of three to four years to see what occurs. This could definitely change the conversation when it comes to affordable housing showing that it could be the prescription to a lot of ills.

Patrick Antrim: [00:16:08] Are there any other reference points to see how this has played out already? I mean either in education or anybody testing out these models? You mentioned the Falls Church Community  being the ideal or in the scenario where it’s ideal in terms of an attractive quality of life.

Joshua Shokoor: [00:16:28] The city I’m from is not creating a lot of affordable housing.  So I’m part of their affordable housing policy Workgroup. We’re trying to change the language we’ve been educating in the local newspaper our wrote an article discussing over the last 10 years of what housing looked like and how there’s not not been any affordable housing and changing the language from affordable housing to affordable living and it’s actually starting to move the needle when it comes to residents on board and the City Council. So yeah right now currently my company is the only company really you know there’s only two affordable housing areas one for seniors which you know NHP Foundation runs and then another one but to look at maybe workforce or another way to create affordable housing in that area is going to be difficult but we’re trying.

Patrick Antrim: [00:17:32] Let’s go back into a little bit more about NHP Foundation and what you guys do because you’re aligned as developers too right? But you’re also carrying this message forward. Tell me a little bit about the mission there and what you guys are really trying to accomplish?

Joshua Shokoor: [00:17:46] So I would say that we’re a not for profit organization with a mission to preserve and increase service enriched affordable housing for low income individuals, families and seniors. And I think the key word is that there are two words or service enriched. We don’t just build and we don’t just preserve our development or project and walk away and just you know asset manage the assets. We have resident service coordinators on the ground at pretty much every one of our properties. And what these individuals do they can provide financial literacy, employment assistance, afterschool programs, so anything to help create a more stable and a higher opportunity environment for these individuals who might not actually live while the community might actually be placed in a high opportunity area. So again we can it going back to that sharing data. You know if we work with our resident service coordinators to have a better understanding with local government who are the people we are serving and I think we can do a lot better work. And I think that is the message I’m trying to come when it comes to data. We have to have a lie and indicators of outcomes and the benefits of all that has to be sort of universal between all different sectors of branches.

Patrick Antrim: [00:19:18] I think of the word appreciation both in the economics of value. I mean a property appreciating and then sort of that gratitude sense like “Hey I appreciate you.” I mean you’re increasing in value to me. I’m thankful. I’m appreciating and so is this affordable housing goes beyond just keeping rents at a price point. It’s really about taking that community in and working together with others in that community to essentially lift up in other ways you’re talking about financial literacy and these other opportunities. I mean is this the view public house home affordable housing?

Joshua Shokoor: [00:20:01] No. You know I could tell people when I first started working for NHP Foundation and I’ll tell you that that was that surprised me. I didn’t know about the resident service coordinators and the service or housing. And so that you know maybe stepped back and made me like an awe. I was really excited to be a part of this organization and I think telling certain friends or you know past colleagues about this day you know didn’t really understand it didn’t know that that’s what came with affordable housing a lot of times in this 21st century. But that’s something that we do and again at pretty much every single one of our properties and you know we keep our own data sets on them or the people we serve you know whether it’s the amount of people we serve how much money saved. Who might have got a job, who was able to save up and buy a home. So we’re able to collect our own data and see how we are truly affecting the community that we’re serving.

Patrick Antrim: [00:21:05] Going back to my earlier thoughts on how do you reference this are connect it. Are there other industries or other scenarios that are bumping up into this challenge. Think about education with charter schools, and public education, and now a lot of resources going into education. A lot of challenges. Technology is playing a part. You’ve got companies like Google and other companies trying to look forward into the future of our future or our next generation. So is there anything that we can reference in terms of similar scenarios that can play a part of that dataset?

Joshua Shokoor: [00:21:46] Well if you want to talk education for one. Yeah. I think when we look at education problems which in those areas where charter schools are taking hold them you know these are coming. These are people who are you know being having to go out of their own like zip code to go to another school because their education is not that great where they’re at. And at the same point if, you want to fight diversity in schools you want to create more diversity whether it’s racial or socio economic, we have to have diverse housing. And again I would go back to my point earlier about the city I grew up in and how that was created by redlining.  And again I took an education policy class not too long ago and one of the big things is creating diversity is we’re seeing more segregation happening in schools. Whether again it’s racial or socioeconomic that you know you have to have diverse housing opportunities for individuals to really provide and educate full scope education for all the people you’re trying to serve.

Patrick Antrim: [00:23:12] That’s powerful. I look at the growth even in our economy it seems as though it most of the economic growth favors higher income. And you know you can look at that and a lot of different ways but you’re seeing just the demand overall for housing and in communities is so strong with not a lifestyle choice but these these social and local impacts to how people decide where to live and where you’re talking about going to different areas of the community just for education. It’s interesting. How how do we actually communicate to these policymakers. What role would someone in the industry take to really move forward with this? I mean your company is you know dedicated to this challenge but what is somebody that’s it’s part of their program…We’re trying to solve these things as an industry. But what would what do you suggest the next steps?

Joshua Shokoor: [00:24:21] I think one thing policymakers want to see.  You can come with the saddest story and they’ll listen but they won’t take action.  Because they want to see data of how things are going to be improved. And they also want to see dollars and cents. I want to know this is a good investment for our government.  Whether it’s local, state, or federal. And so again I think we have to go back to what I’m saying is housing first policy as a you know as a short social determinant for the rest of certain issues that may occur or are problems that we know people face in society. And if you’re able to provide housing then again as I just discussed about hospitals they save money. HHS housing human services are going to save money. You’re going to have less crime. And so if you can show that money’s being saved by these local governments because we are able to provide housing and that the overall burden on society is now being lessened.  Especially with services enriched we’re talking about employment assistance that could be potentially that you have less people on Medicaid. There’s a lot of different things that go into that. But if we can actually have full on studies that show that determine how much money is being saved by local and federal governments through creating more housing then that’s going to help push the policymakers in the direction of funding more. I mean as we are seeing there’s been massive cuts to HUD through this administration. But yeah that’s that’s probably what I lean towards. First is creating that study to show the dollars and cents that are being saved through investment of government but also education. As I said before, you know you have to educate the constituents and then those constituents have to make those phone calls and you know really push the representatives to address this issue and this issue is not just affecting one generation or one group of people. As I said, it’s affecting seniors. It’s going to it’s going to affect them greatly and it’s affecting my generation. Millennials are very cost burdened when it comes to rents. We’re paying over 30 percent of our income for housing every month. But even you know many people my age are paying over 50 percent of their income. So not only you know through stagnant wages and the economy they’re able to save money and they probably also have college debt. So you know they’re living month to month paycheck to paycheck. Are they ever going to be able to purchase a home? Get that American dream. It’s going to be difficult if they are so cost burden every month. I think it’s going to be education of our constituents and them calling our policy makers and then also being able to produce good studies that show the dollars and cents that local, federal, and state governments save through funding housing.

Patrick Antrim: [00:27:47] Obviously this is a long term strategy. Do you see companies innovating this process? I would just think if you’re trying to get that data the data helps you educate those those policymakers. And so where do you get the data?  Who’s measuring the data right now? I mean you mentioned you guys are doing some stuff but who’s really measuring anything right now?

Joshua Shokoor: [00:28:09] I think that goes with the siloization of data where people are not unwilling to share their data or they’re measuring different things. And so the data isn’t really aligned nationally even statewide. But this will be going through various affordable housing industries working together with safe think tank organization to create a study, this research that really shows the savings over time. And I think that’s probably where we’re going gonna be going here soon because of the lack of funding that we’re receiving to create affordable housing through the various levels of government. You know even the normal fundraising through philanthropy we’re seeing a reduction in that across all nonprofits because of donor advised funds that have begun became so popular. Or you know the corporate tax cut from 35 percent to 21 percent with no sunset. It lowers the tax credits that developers rely on through low income housing tax credit.

Patrick Antrim: [00:29:29] Interesting.  And you mentioned earlier about looking at millennials paying as much as 30 percent and probably as much as 50 percent on housing. And it obviously depends on where they are. Do you see this as an issue in certain areas of certain segments of the country or the industry or do you see this as not which I mean you can’t build a “B” property today. Right? And the demand for that housing is is as high as it’s ever been and what you’re talking about it’s going to continue with that story of owning a home. Is that happening higher debt education costs or just meeting your own needs each month. I mean saving up for that down payment, plus interest rates rising, that cost growing over time. But it also looks like the units that we’re building were not really building affordable units. They are north of 14, 1,500 dollars a month to to make these proformas work. It just it’s interesting. what do you see? Is this an issue with all companies or just affordable housing operators? I mean obviously this is a national issue but I mean who can really make the biggest impact and in what markets do you think? Is there some that are leading others?

Joshua Shokoor: [00:31:00] I would say that what we’re seeing more so especially to local governments is the building of the new developments that are mixed use. So retail at the bottom, market rate housing at the top with certain set percentage “set asides” affordable with like a 20 year covenant. And so that’s what we’re seeing pretty much the new creation of affordable housing.  That’s being that’s happening throughout the country.  Set asides that have covenants for about 20 30 years.

Patrick Antrim: [00:31:38] Some of those are maturing you’re saying that too. And at the same time it also gets us into those high opportunity areas right? That’s that’s a good trend?

Joshua Shokoor: [00:31:50] So again I keep on taking it back to the local government from Fall Church. I’m a part of the affordable housing policy work group and you know right now are our suggestion for every new development is 6 percent set aside at about I think 60 percent of AMI (Area Medium Income). AMI in our area is about a $115,000 household area median income. So I would say that you know if we you know we’ve been telling them we told them we want eight to 10 percent with the covenants to be in perpetuity. So the life of the building so that these will never disappear. They will remain affordable. And we will get a higher percentage. So that’s our suggestion of a new development in the future. We’re seeing that happen in other localities but again it’s not a permanent fix and it’s you know it’s a very small amount of housing for each new development is definitely not going to equal to the amount of housing that’s needed. Low income housing that’s needed for individuals. But I think the main we’re seeing this problem happen a lot in our metropolitan areas. You know that’s where the jobs are. That’s where college grads tend to go where the jobs are and they are some of the most you know highest cost of living areas in the country. But you know if you want to you want a good salary you want to be able to pay off your college debt. You want a job you want you know a career. You know it seems like you have to bite the bullet a lot of these times and you know live in areas that have high cost of living and high rents. So that’s I think the trend as we’re seeing it currently. We’ve also seen some things that you know people are moving to areas where housing is yet more affordable. I think Atlanta is one of those areas. But you know it’s growing but I think it’s mainly happening in those metropolitan areas right now.

Patrick Antrim: [00:33:56] Right. And you mention biting the bullet for chasing that opportunity that you’re choosing a career, building career for yourself, and those rents over time or increasing far faster than the wages are correct?

Patrick Antrim: [00:34:16] Tell me more about the Affordable Housing Workgroup. I mean is this something that you hold together or you joined up or. Tell me is that a solution that leaders can get involved in?

Joshua Shokoor: [00:34:29] No I think that’s you know it’s a form of a housing policy workgroups every five years we have to update and rewrite the affordable housing policy in our city. I mean I think that goes back to you know high city engagement with the residents living there. Again that’s something that we think every local government should take away is that they should know incentivize and motivate people to be more involved in the city, and the government how things are developed and organized.  I was asked to join. And I’m I’m representing my organization. Being a young millennial who works for a nonprofit you know have my say in the way my city designs affordable housing in the future. So that’s how I got involved.

Patrick Antrim: [00:35:22] It sounds forward thinking. I don’t know if there’s a leader out there that wants to make impact and create a difference with what they do. I mean you know their expertise in this whole process can be leveraged. Just have to know where to connect and who can be the leader in that. And so much of the developers and the multifamily operators I mean I think are trying to you know constantly maintain client relationships increase results for owners and many of those strategies come from growing rents. Increasing revenues and keeping investors happy through better yields and management accounts through keeping more of the money that’s being earned. And so this conversation ultimately though the story of the city improves. All real estate if we can get all these people together.

Patrick Antrim: [00:36:27] Talk to me about innovation. Is there anybody that you know or you see or even in technology that’s pointed in the direction of investment towards affordable housing. There’s been a lot of new innovations around innovating the leasing experience or smart home technology these types of things but are there things that you see technology playing a part in creating either that data or is there a story there?

Joshua Shokoor: [00:36:59] I would say a policy point I would say innovation could be like zoning. Everything that we should work on our zoning especially in cities technology. And there’s a lot of interesting things going on with technology and how they’ll sell them more mold together with the future development of our cities.  If you look at 3D printing and the potential for lower construction costs by being able to 3D print certain pieces of construction at a  relatively cheap a rate. I think people are becoming more ingenuitive with constructing a home whether you went from those the cargo crates other things of that nature. I think that you know one thing that people are missing out realizing is you know autonomous vehicles and how these vehicles are really going to change landscape for our cities. Our cities are designed for cars to drive around them.  Strip malls are designed for cars to drive and parking in them. Huge parking lots spaces you know underground garages were all designed for cars to get around. But you know as you know autonomous vehicles start to get rolled out and the next you know 20 years or so we could start seeing no need for parking lots anymore. So with that being said, you’re also having a lot more land available to create housing. So I think that technology is going to work its way we’re probably going to be a much more dense cities but it’s going to also allow for the creation of more housing. If it’s done correctly. So we have to have policy makers in place who are thinking that forward and understanding you know what might be coming around the bend that you know we need to keep our eye on with any new development that we do.

Patrick Antrim: [00:39:11] That’s great. I know the autonomous vehicle conversation we explored last year at our summit and we’ll be watching that closely because when we look at the city’s real estate 30% of it is the roads and the cars and all that parking and and you know if you look at just even the restrictions on space to have turnarounds and things like that is all driven off of that the data around what’s required for fire truck to come in and out and all those types of things and so that’s pretty facinating. And developers, the major cost is that parking and the impact to that on construction in the layout of all the buildings. And if you think about the automotive industry even the vehicle itself.  Just rethink the affordable housing discussion in new ways. Get the conversation going so we can think differently about it to tell a better story. Maybe bring some innovations, some technology into it to where it can really truly facilitate conversations with others. Maybe the data is the one point that brings it together. And almost like what Google did where they went out and mapped the streets and it allowed so many other things to happen because of that data. And once you had that data then you could do other things and solve some other bigger challenges. I’m sure there’s people that have saved lives because of certain aspects of that. Faster routes to places things like that. So we just don’t have that story to tell. But when you think about the vehicle the car even as you drive home you get behind the wheel if you’re driving to work every day and you understand that that vehicle there’s probably about 3,000 people to come together to make that car. And the the amount of innovation that’s in a vehicle today versus 30 years ago is fascinating. It’s unbelievable. I got a new vehicle recently with the backup camera. It takes some adjustment to learn. You’re used to looking over your shoulder to back up. But now with the tech I don’t even look I mean I’m better off not looking back looking at the camera then actually beeps and tells me everything. But you think about the vehicle and you compare that to real estate. And you look at those cars all the cars even the carts were drive today are engineered and designed for the driver. But now with Uber and all these other things.  Maybe the AC buttons and all that stuff should be in the back because it’s a passenger economy. How does that change productivity and do people need to commute into those cities and pay higher prices for things because you know jobs have adjusted? So it’s really interesting. I love the conversation I want to you know continue to advance the discussion so that’s you know we continue to deliver on all aspects of what’s required to really solve the affordable housing challenge. I don’t have any answers but hopefully those that are listening in that have innovation have investment and want to take on a challenge like that that can reach out to someone like you or you or get thought leadership around this topic and really solve. Because I think it’s going to come from innovation. It’s going to come from somebody inspired by a purpose and to take on the challenge and to get them to think totally different about it. But when you play out things like autonomous vehicles, innovation, bring in healthcare, education, developers, cities and the public together enough in one mission there are some really interesting things that can happen.

Joshua Shokoor: [00:43:14] Yes. You have to start on the ground.

Patrick Antrim: [00:43:16] Absolutely. I love what you’re doing. I’m inspired by your work.  We’re coming up here to the end of our segment but I wanted to give you the opportunity to share any final thoughts with our listeners. Anything that you might have to share?

Joshua Shokoor: [00:43:31] I would just go back and understand the community you live in more.  I think you should look at affordable housing that way. Understand that people who might be related to you, might be your children, might be your parents, grandparents, are burdened by these housing costs and trying to figure out how do we fix this problem together. Whether that is contacting your policymakers, educating other people on these issues, or just getting involved locally and the government level. I think that’s important and that should be the key takeaway because it’s going to be a problem that we are all currently facing and are going to continue to have to face in this country.

Patrick Antrim: [00:44:20] Wonderful thoughts Joshua thank you for sharing the time and we appreciate you coming on the show.

Joshua Shokoor: [00:44:24] Thank you.

Get in Touch:

NHP Foundation Website

Josh Shokoor on Linkedin

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We're seeing this problem happen a lot in our metropolitan areas. You know that's where the jobs are. That's where college grads tend to go and they are some of the most highest cost of living areas in the country. Joshua Shokoor: [00:00:01] We’re seeing this problem happen a lot in our metropolitan areas. You know that’s where the jobs are. That’s where college grads tend to go and they are some of the most highest cost of living areas in the country. You want a good salary you want to be able to pay off your college debt. You want a job. You want a career. You know it seems like you have to bite the bullet and live in areas that have high costs of living and high rents.



Patrick Antrim: [00:00:26] That’s Joshua Shakoor. He’s an affordable housing advocate dedicated to elevating organizational efficiency and promoting effective communication to strengthen public and private relationships. He’s devoted the last two years to furthering an understanding of how communities in the 21st century organize themselves and how residents interact with the institutions they construct. Since the fall of 2017 Joshua has worked full time as a data and communications analyst at the NHP Foundation. In late 2018, Joshua will graduate from George Mason University with a master’s degree in urban policy and development concentrating on the role Science and Technology will play in the future design and social function of our cities.



Patrick Antrim: [00:02:20] So housing intersects with every aspect of our live. Our social lives, our communities. And for the last two years or maybe even perhaps more I know you’ve done some deep research on this but you’ve devoted a lot of time in your own personal resources and professional to understand how communities organize themselves and how residents interact with the institutions that they construct. Can you tell us a little bit more about this?



Joshua Shokoor: [00:02:50] So my main thing is looking at you know local governments municipalities and how people inhabit those areas and how their relationships are with you know the different levels of government whether it goes to county state and federal. But yeah I mean mainly how people set up their neighborhoods. I grew up in a very nice neighborhood. City of Falls Church it’s actually ranked as the number one household median income in this country. And also it’s just rated the healthiest and it’s a strange case because it’s a 2.2 square mile city. You can look at it now and you can say it’s growing. How did it get to where it is? And you know there was a lot of community involvement, resident involvement and engagement. You know so many meetings there’s so many people attending but you can if you look at the history of it. It got its independence and its own municipality that 2.2 square miles based on redlining. So you know we can look at the history and how things were organized whether through know homeowner’s association or local governments to where they are now and it’s just trying to get that full scope to understand how city got to where it is and where it’s going. And why you know certain areas are so different socioeconomically wise diversity was than others.



Patrick Antrim: [00:04:27] In order to have an all encompassing program to develop even affordable housing in a community I mean you’ve have bankers involved, you’ve got builders, you have private public partnerships, cities, state issues, local issues, attorneys, accountants, and all these types of programs that come into play. Do we need more expertise in affordable housing or are we just not collecting the right data?



Joshua Shokoor: [00:04:57] So when it comes to housing specifically I would say that it’s not necessarily all these expertise and these individuals with certain titles playing their roles and you know creating affordable housing more so it’s the data sharing between developers and local governments and developers at ...]]>
Patrick Antrim clean 44:36
The Journey to Multifamily Investing https://multifamilyinnovation.com/the-journey-to-multifamily-investing/ Tue, 17 Jul 2018 03:14:45 +0000 https://multifamilyinnovation.com/?p=1338 https://multifamilyinnovation.com/the-journey-to-multifamily-investing/#respond https://multifamilyinnovation.com/the-journey-to-multifamily-investing/feed/ 0 Ivan Barratt: [00:00:00] Stakeholders and projects are asking the management company how are you achieving the customer centric mentality in your in your management culture Patrick Antrim: [00:00:09] That’s Ivan Barratt. He’s a multifamily owner and syndicator who specializes in FHA and agency finance multifamily projects since 2015, Ivan has [...] Ivan Barratt: [00:00:00] Stakeholders and projects are asking the management company how are you achieving the customer centric mentality in your in your management culture

Patrick Antrim: [00:00:09] That’s Ivan Barratt. He’s a multifamily owner and syndicator who specializes in FHA and agency finance multifamily projects since 2015, Ivan has raised nearly 30 million in equity acquired over 2000 units and has grown BAM – his company and firm to a best in class management [00:00:30] company. Today, Ivan focuses his time on equity finance, acquisitions, and company strategy. Currently his companies managed well over 150 million in assets just north of 3000 units.

Patrick Antrim: [00:01:44] All [00:01:30] right so Ivan I want to learn a little bit more about how your investment journey began. Can you tell us a little bit about that?

Ivan Barratt: [00:01:54] Sure. Patrick first and foremost thank you for having me on the show. It’s an honor to be here and speak to your audience [00:02:00] and I’m excited to have a conversation with you. For me I am lucky at a very early age. I got a taste for real estate. My father is an attorney. Owned a couple of dozen rental properties growing up I had an uncle that owned a couple of small apartment complexes and another uncle who even though he didn’t graduate sophomore year of high school let alone my school managed to grow a business and [00:02:30] has known a lot of commercial real estate as well. So by the time I got to college I thought Gosh why would anybody want to get a real job. Why wouldn’t you just own lots and lots of apartments and just watched the the proverbial rent checks roll in. Right?

Ivan Barratt: [00:02:46] Well turns out as you know Patrick is it is a real job. But but I do enjoy it out of the gate I worked for a developer for about eight years and as a [00:03:00] small boutique shop here in Indianapolis. And so I was able to wear a lot of different hats learn a lot of different aspects of real estate investment and management and also see from a front row seat to the Great Recession the Great Crash which actually ended up being probably one of the top three gifts in my life.

Patrick Antrim: [00:03:25] Right.

Ivan Barratt: [00:03:28] We’re learning that at a young age [00:03:30] and that’s really what allowed me to sort of hit the reset button so to speak on how I wanted to approach real estate. And that’s when I started my own company in my spare bedroom in 2010 doing it all myself because I knew that if I could just get momentum and learn how to scale and grow and and fail small that when it got to the big stuff that I would be [00:04:00] well equipped to succeed. So I said I started it in 2010 in my spare bedroom doing whatever I could get my hands on. And fast forward to today or we’re approaching 150 million in assets under management. The bulk of our our portfolio are syndicated deals and by that simply my partner and I have found the opportunities raised the capital up of the stack [00:04:30] debt and equity acquired these apartment communities and executed our business plan.

Patrick Antrim: [00:04:36] There’s just a lot of people right now that’s excited about multifamily and there’s also a lot of people jumping in the game that in some cases perhaps they might think well we can operate better than this company or that company or perhaps we can just get this done. It seems pretty simple. What are some early lessons that you earn you learn. I guess going through the process as you began your investment career.

Ivan Barratt: [00:05:01] Oh [00:05:00] sure and I’m glad I learned them early. And on smaller projects but I learned lack of discipline can really really hurt deals performance. I learned a lot about as you know apartment communities are not just larger extensions of single family or one to four family homes which I’ve sort of arrogantly thought early my career when I moved from [00:05:30] two and four family units to start started buying small apartment complexes. You know I thought oh gosh 30 units in one location sixty units in one location should be just like managing a duplex with just more units in one spot. And it will all be great. Right. And so really got hit in the face and learned the hard way about resident relations pest control between units.

Ivan Barratt: [00:05:57] All the little things when you’ve got more people living [00:06:00] in a confined space of course the financing. I notice very quickly that the shelf life of an apartment lead someone who who hits a Web site is looking to rent something is about half that of a fruit fly.

Ivan Barratt: [00:06:17] That was that was a game a game or eye opening experience for me learning some of those things the hard way. But that’s what I knew would happen by taking risk [00:06:30] starting small failing small that I would take those lessons and remember them as we got into larger assets site managed communities that we that we go after today.

Patrick Antrim: [00:06:42] Yeah you’re looking at real estate and all the yields that come through it but you don’t realize you’re building a sales organization.

Ivan Barratt: [00:06:49] Correct. Yeah I’m currently running a business right now.

Patrick Antrim: [00:06:52] True story. And you know that innovation is changing I mean what do you think the customer where is the customer [00:07:00] journey going? I mean do you see that changing much? I know that applies to different assets.

Ivan Barratt: [00:07:05] But it certainly does it certainly does. However I think overall a lot more aspects of multifamily will mirror hospitality. And I think the resident experience the customer service approach because everything is so so [00:07:30] much more transparent now.

Ivan Barratt: [00:07:32] I sort of laugh when I run across relationships where folks are still looking at it from a landlord tenant mentality and now you’re much more customer centric residence intracet that it’s ever been. And I don’t see that going away anytime soon. I’m one of the owners that excited for a market correction because the market is so hot and everything is going so [00:08:00] well. But one thing that will be mission critical when that day happens not if when is nailing that customer centric resident first piece of the business because they’ll be stiffer competition to attract those residents here community.

Patrick Antrim: [00:08:19] Right and you’re an owner and you’re thinking about these things because you’re obviously you know raising the capital and having those conversations. But are the lenders having that conversation are they still just looking at the real estate [00:08:30] and the expenses and are they looking at positioning and minimizing risk through through initiatives like that?

Ivan Barratt: [00:08:38] I don’t see it on the debt side. We talk a lot about it about it from a risk management standpoint but not not from the lenders yet. You might argue or one might argue that HUDs a little bit more sensitive to that sort of thing. But but overall I think I think for the underlying debt and probably just being a product of the fact that they’re in the first [00:09:00] lien position and if the proverbial you know what hits the fan and most care in most areas they can get their capital back. I think they’re probably the last to wake up to this trend. But gosh just the other day one of my all of my my limited partners my equity investors asked me about are our tenant retention program how we how we handle residents get togethers and events to [00:09:30] promote more community feel. And it doesn’t happen often but it’s starting to occur more where folks that are that are stakeholders in projects are asking hey is is the management company how are you achieving a customer centric mentality in your in your management culture. I can sit here with you Patrick can talk about it all day but if we don’t executed at the property level it’s really just hot air.

Patrick Antrim: [00:09:57] Right. And I know we have conversations [00:10:00] with developers and operators that are in markets where the customers requesting it. It’s not even about you know innovating the business. Just to differentiate and to get business new residents and such. And so you look at you know come outside the industry like transportation or even retail and now even pharmacy I mean you’re looking at big companies that were in great positions looking strong and thought you know they had their market share and they you know [00:10:30] they were too big to fail all that kind of stuff. And you’re looking at what like an Amazon or even like the Uber did detect transportation companies and now with you know Jeff Bezos with Amazon and Warren Buffett getting together on pharmacy. You’re looking at that customer experience. You know really explosion happening with that innovation there to try and make sure that there’s no slack in that process and there’s no frustration in time you’re going to improve that customer experience [00:11:00] there’s some really great things happening and the reason I ask you is because you know we also have market operators that might not it might not be there a priority maybe it’s their priority. How do you create a renting experience that you know is of today’s technology in today’s world. And does that play into your approach when you’re looking at performers. The obvious value ads are you know your your [00:11:30] flooring your kitchens and your improvements that drive rents have done that for for times. But do you look further and beyond just traditional value stuff.

Ivan Barratt: [00:11:40] Well so if you keep this between you and me. So I’m a huge proponent of technology in in the sense that it’s a great tool and if you can find those great tools for your [00:12:00] people that make their lives easier make them more efficient allow them to to deliver a better experience and that’s what we need to see. So for me as the CEO early on I was really good at finding those sorts of things.

Ivan Barratt: [00:12:15] Now I have to leverage the brainpower of everyone at every level of the company and we actually have a contest with prize money this year for who can find that next great catalyst of technology not necessarily [00:12:30] resident experience but just anything within the organization at any level that can be an inflection point of of change for the better whether it be our culture how we operate how we communicate with each other for us in 2014 we were one of the first management companies to incorporate slack internally.

Ivan Barratt: [00:12:55] So we virtually eliminated internal e-mail and we’ve really flattened [00:13:00] our leadership structure as such to where we’re all communicating in real time now there are some downsides because the advantages you can communicate in real time that can also be a disadvantage if everybody feels like they’re in an all day meeting. However it’s been a game changer for us in the way we do things and how managers and peers at all levels communicate and share information and help each other. So we’re looking [00:13:30] for something that changes that again. And I think so. I think it will be on the on the resident experience side. We’re still picking sort of a wait and see approach on IoT the Internet of Things and really looking for some platform to sort of become head and shoulders above the other two. Google and Amazon and Apple and everything else who’s going to talk to who and what’s going to what’s going to work cross operating [00:14:00] systems. I think there’s still a lot of play there and maybe that’s just because it at 40 years old I’m thinking VHS and Betamax right.

Patrick Antrim: [00:14:11] Right.

Ivan Barratt: [00:14:12] And so I know I don’t want to necessarily hitch our wagon to the wrong technology.

Ivan Barratt: [00:14:18] However there are some things right now we’re looking at on the resident experience especially when it comes to reporting issues on how they’re handled in real time the responsiveness of it whether it’s Sunday [00:14:30] at 9:00 a.m. or Monday at 9:00 a.m. we’re going to be testing some maintenance related technology and servicing solutions on some of our projects or communities as a pilot project and I’m at this point I’m not ready to speak to specifically to it but I’m cautiously optimistic.

Patrick Antrim: [00:14:51] Yeah that’s great. And so you know as you approach all these things. Tell me more about your team because you did mention that you’re at a scale [00:15:00] point now where you’re focusing on you know growing and being strategic about the business.

Patrick Antrim: [00:15:04] Tell me a little bit more about how your team approaches daily operations because we talked early on about the operators being effective through management and it’s all about execution. So tell me tell me more about your team and how you guys manage.

Ivan Barratt: [00:15:23] What’s really been a catalyst for growth for us without failure [00:15:30] at the margin. And what I mean by that is being able to grow quickly but still execute. It’s really been empowering the right people. And so it’s been more of my greatest challenges personally with is transitioning from that. Do it yourself founder entrepreneur that they can do it at least in his own mind everything better than anyone to shipping and saying okay if I’m really going to grow this thing I have [00:16:00] to let little bad things happen. Meaning I have to let people make their own mistakes from their own decisions and learn right. And I have to I have to put people in positions of responsibility but not just in title but in reality. So hiring decisions firing decisions. Operational changes. All these things have to be handed to other [00:16:30] folks on the team.

Ivan Barratt: [00:16:31] And so what I’ve done and I suspect most of the audience is in the same boat is we have site managed projects communities and then we’ve got the mothership we’ve got headquarters we’ve got where you’ve got Asset Management, Accounting, Compliance, construction maintenance management, and obviously of course senior management overseeing property level managers.

Ivan Barratt: [00:16:55] So what we’ve done here is we’ve given those folks at the top a lot [00:17:00] of leeway in their decision making and how they do things. We’ve got our directions we’ve got our our boundaries our bumpers if you will. But as far as who they put underneath them how they manage those folks the policies they’re putting in place we’re really pushing on them to make those decisions themselves and figure it out and not get in the way of that and that’s cost me a lot of money and [00:17:30] it’s cost me some sleepless nights and it’s creating some headaches.

Ivan Barratt: [00:17:33] But this beautiful thing has happened is that these folks are becoming great leaders of their own and they’re they’re developing projects they’re coming up with great ideas to cultivate our culture their dealing with crisis without skipping a beat. I don’t think we’d have that if if we didn’t allow them to fail in their own in their own [00:18:00] right sometimes. And so what I still have to remind myself is if my executives can make 10 decisions a day and be right on seven or eight of them we’re going to win big.

Patrick Antrim: [00:18:15] You spent a lot of time early in your career. You mentioned we’re kind of rolling up his sleeves learning all aspects of the business and it might not be for you but for many the maintenance the service side of the business [00:18:30] seems to be a challenge you know to find the right people either the just the demand of new construction in the area that type of thing or perhaps getting people excited to work in the apartment industry maybe they see it as something that they don’t see it as an investment vehicle. But you know sounds like to me that’s your family invested in you early getting you into the mix and it allowed you to sort of come into this approach thinking like an owner already [00:19:00] through the management operations and so are you training or do you lead either by the development of your own culture with your executive team and even or your entire team with that sort of owner’s mindset or how do you get that naturally in an organization?

Ivan Barratt: [00:19:18] It doesn’t come easy it doesn’t come easy and hiring retention major hurdles right now. Got a low low employment low unemployment [00:19:30] economy lots of construction going on. Everything’s firing on all cylinders which can make it difficult to to find great people.

Ivan Barratt: [00:19:41] So again between you and me I learned this little secret sauce that I’ve asked you not share. Pay people well give, them great benefits, and you get better people that typically do a better job and stick around longer. And [00:20:00] that’s really been the cornerstone of it. Beyond that I got to give a lot of credit to my maintenance and construction. Excuse me, my director of maintenance and construction management. Finding him. I feel more lucky than smart. We just happened to connect and I knew I needed to make a change. We had a great conversation I told him my vision for the company and recognize [00:20:30] very early on in this that the maintenance team should be treated like gold. They should be cultivated and they should be empowered. I think oftentimes I’ve seen in other companies they’re sort of an afterthought. Maybe that’s finally changing now out of necessity but that’s one thing we’ve gotten right in in that very little credit of mine is I was lucky [00:21:00] to find the right person that was the perfect mix of blue and white collar and a great leader and was able to basically reset the entire organization from a a maintenance and construction standpoint and build out the team in his and his vision. And we’ve supported him in doing that. And what’s occurred is we’ve been able to acquire or attract I should say and retain great great guys in it that are a dying breed.

Patrick Antrim: [00:21:31] People [00:21:30] want to work on winning teams. It’s sounds like some great things.

Ivan Barratt: [00:21:35] Well and some of it’s simple you know we we’ve got to just about as many holidays as a bank or government agency. We try to be on the forefront of benefits and options for our folks. And we have company outings. I’m lucky I’m in Indianapolis so we had a great outing at the track this year. Gosh just about everybody drove in to [00:22:00] be at the Indy 500 for a day and hang out in one of the suites there doing those little things to build that culture is maybe not always going to be the answer. But I think it helps people pause when somebody comes along says Hey I’ll pay 50 cents more an hour to come work for me you know.

Patrick Antrim: [00:22:22] And as a CEO, you know we can get trapped you know focused on the transaction relationships of the Investor [00:22:30] Relations you’re raising capital. Sometimes you know the nature of the growth. You know we’re transactionally focused on transactions but you know it’s important to stop and share that vision because like you said right. I mean they go somewhere else. But as a maintenance professional with the kind of work you do it seems to me that you’re training them how to be investors. I mean do the repositioning the property right right before them if they pay attention. [00:23:00] Do you do any coaching in terms of helping people become investors themselves or is that just sort of you know of their own intuition for that?

Ivan Barratt: [00:23:11] Well again more credit to the executive team because they do a fantastic job of educating their staff on why we look at certain things the way we look at and whether it comes from cap ex projects maintenance and [00:23:30] repairs why we’re doing the things we’re doing right because if we’re not delivering to the investor this whole thing doesn’t doesn’t last very long.

Patrick Antrim: [00:23:39] Right. Right. And so.

Ivan Barratt: [00:23:41] So trying to get a little bit of that down at the granule granular level is certainly mission critical as well don’t have any employees to become investors yet but I hope that that changes somewhere down the road.

Patrick Antrim: [00:23:54] Right. All right so let me ask you how do you really look at a deal. What is [00:24:00] the ideal perfect acquisition look like for you if that’s the case what has to be true?

Ivan Barratt: [00:24:07] Sure. So for us you know we were were chasing that rental band here in the Midwest call it $600 to about $1,200 dollars a month in rent. We’re really focused on high end of C middle to low end of the workforce housing. We look at it as a private equity play.

Ivan Barratt: [00:24:28] And what I mean by [00:24:30] that is that we look at every deal like it’s a business and we are in the business of acquiring reasonably well run businesses already.

Ivan Barratt: [00:24:42] So we’re looking for light value add taking advantage of some perhaps some management efficiencies running it a little bit more effectively to help the NOI. But at this point in the cycle we question a [00:25:00] true value add project being that if it’s not working and it needs you know it’s suffering and it needs a lot of problem solved at this point in the cycle. Could it be something more intrinsically broken that it’s not fixable?

Patrick Antrim: [00:25:18] With the demand for rentals. A lot has to go wrong for stuff to go wrong.

Ivan Barratt: [00:25:25] Right

Patrick Antrim: [00:25:26] I imagine as we move forward any [00:25:30] kind of correction really isn’t going to come from really over leveraging these projects I imagine because it seems to me that the lenders have been pretty cautious about things. I mean you have some deep experience in that you want to expand on that at all?

Ivan Barratt: [00:25:49] Yes. So just to cap off the last question we’re looking for real strong income out of the gate where we can deliver anywhere from a 6 to [00:26:00] 10 percent cash yield or cash on cash return out of the gate depending on how it’s financed. And we were pretty specific on on the market variables that we would like to see a high score in as far as financing. I think probably one of the potential black swans out there is just maturity risk and what I mean by that is operators that are primarily using [00:26:30] bank financing might run up to a point where the capital markets froze up. They have to roll over the debt. They took short term five year commercial loans and they’re only able to roll over that debt forced to sell. So there are a couple of the other operators down the street. And that’s when you might see some pricing softness for us and a lot of the players in this space agency debt is about the short term debt we want. So short of getting some bridge financing [00:27:00] for some specific projects. We’re typically looking at agency loans with 10 to 15 year maturities and we’re also using quite a bit of HUD FHA financed project stacks of capital stacks because we like mitigating risk and we like taking that maturity risk almost completely off the table interest rate risk at that point locked for 35 years. You’re essentially taking your interest [00:27:30] rate risk to virtually zero as well. And that that’s firmly implanted in my DNA because again having a front row seat to the Great Recession I saw a lot of developers and operators lose perfectly good assets

Ivan Barratt: [00:27:49] Lose businesses and sometimes marriages and families were lost to because of that maturity risk right.

Ivan Barratt: [00:27:58] And so my [00:28:00] goal was and is and frankly always will be. How do I grow a business. How do I grow a team a culture a management machine. That will do better in a recession. Not worse.

Patrick Antrim: [00:28:19] Right. And it helps to operate from strength I imagine

Ivan Barratt: [00:28:22] Absolutely, absolutely and without the management piece of it. Like a lot of developers [00:28:30] out there that are merchant builders you know unfortunately they’ve got to keep doing deals better keep building things and selling assets in order to meet payroll obligations in order to keep those people. A management company. If I do zero more deals this year, we don’t miss payroll and we don’t fire anybody. It wasn’t the year we wanted it to be but we will survive to the next year.

Patrick Antrim: [00:28:55] Right.

Ivan Barratt: [00:28:55] Because we have that we have that setup.

Patrick Antrim: [00:28:59] And that gives you [00:29:00] an opportunity to tell that story to the equity partner correct that you know it’s best service sometimes you provide is saying no to a deal.

Ivan Barratt: [00:29:10] We trumpet that a lot. We’ve got a lot of equity right now a lot of capital relationships. Of course we’re always looking for more but our equity is continuing to ask you to say wins the next opportunity. And the answer hasn’t changed is what we think we’ll do this this year. However, if we don’t get to use a baseball analogy [00:29:30] we have a very tight strike zone and if we don’t get our pitch we will sit there and let the ball go by 200 400 times because the maintenance of that discipline the strict adherence to the acquisition criteria may not be sexy in today’s market. But it’s what every large owner operator has it done. If you if you look [00:30:00] at across the market all the big ones that have been through multiple business cycles have similar strategies.

Patrick Antrim: [00:30:07] Right. Do you do any third party management or is it just management of your own assets that you acquire?

Ivan Barratt: [00:30:14] No we do. We do. We we’ve started to grow that again for a long time. Third party management was always larger than that than the deal that we acquired ourselves. And we knew we were able to go in a little bit of an acquisition tear we got some great deals in our pipeline have grown [00:30:30] significantly on the ownership side. If I were to draw an arbitrary rule we’d like to continue to be about 50/50 fee manager 2 to owner as we as we expand.

Patrick Antrim: [00:30:44] Yeah. And how do you if you know you’re looking at pitching to the client but having that discussion about a third party client relationship what does that conversation look like and [00:31:00] how do you as a company differentiate yourself amongst all the options that are available today? Without giving the the secret sauce.

Ivan Barratt: [00:31:12] Hahaha. Theres not a lot of secret sauce to it.

Ivan Barratt: [00:31:13] Well you know there’s not a lot of secret sauce to it. We just we just work harder. We work really hard at our culture and our people and our in our way of doing things so oftentimes I think in this environment we’re a little bit more on the expensive side and that’s okay and so [00:31:30] we get a lot of people that calling us from management services that go nowhere because they are either looking for the cheapest operator or they want they want the biggest one. So for us right now you know I think we’re a Goldilocks operator and that we’re not so small that we don’t know what we’re doing and can’t execute or don’t have the right technology but we’re not so big to where if you’re a new client you’re just a number and we don’t care if or go at this point where were our [00:32:00] clients are very important to us. The other thing is I’m lucky in that being an owner and having an owner mentality makes me a better fee manager right and I’ve pair that with my management company doesn’t have a high profit margin motive. My goal is as a management company is to grow a fantastic machine. A [00:32:30] fantastic culture. Don’t get me wrong it is a company pays me and my partner well and we pay our people well but we spend a lot of money on technology there’s just not a lot left after that. But what that allows us to do is it allows us to fill our own long term wealth goal aspirations right.

Patrick Antrim: [00:32:51] Right.

Ivan Barratt: [00:32:53] By acquiring assets, managing them extremely well, to [00:33:00] where my financial freedom, my family’s financial freedom, my future is intact, and the management company is the critical piece to keep that all going. Sure I can eek out another five or 10 percent profit margin if we started really being focused on costs and pennies. I’d much rather grow just a great company that does a great job and watch my my [00:33:30] assets perform well over time.

Patrick Antrim: [00:33:32] Right. So a lot a lot of people individual investors are looking at different opportunities in multifamily right now some of these coming from funds many different portfolios across different locations different yields or things like that. And what are you what do you say to somebody as they evaluate that process as becoming that passive investor. That would probably come in as your investor what should they be asking of groups [00:34:00] as they take care of their real estate?

Ivan Barratt: [00:34:04] Wow. I write about that a lot. One of my little life hacks that I try to pass on to passive investors that ask that question I get it a lot.

Ivan Barratt: [00:34:17] I think one of the best things you can do before putting your money in anything is underwrite 100 opportunities look at a hundred different funds or 100 different private placements. Read the offering [00:34:30] memorandum and you will get through osmosis and repetition. This visceral gut reaction some people call it a fingertip feel for what a good deal looks like. And as an investor you’ll start to recognize more importantly what’s not in the offering memorandum. An attorney friend of mine used to always say it’s not what’s in a contract. Any fool can read a contract. It’s [00:35:00] what’s missing from the contract. And I think that if you look at enough of these opportunities you’ll get a better idea of what it what a good opportunity looks like. Also I think your show probably does so well is that is your attention to risk management. You know right now everything is doing well but there is potentially a lot of issues on the horizon with industrial with office with retail and with several [00:35:30] sectors of apartments. I have I would have a hard time recommending anybody get into a class A new development right now but I know there’s operators out there that are doing a great job. So I would just say that a lot of caution should be taken because most of those deals your your returns are predicated on predicting what’s going to happen in three years after lease construction lease up and in a sale.

Patrick Antrim: [00:35:59] Right. Right. [00:36:00] And then whatever comes along because when you’re an A property probably in an urban area right or it’s in a well I guess it could be anywhere but you do have that supply risk.

Ivan Barratt: [00:36:16] Yeah, I’d say I’d say get references, call those references. Don’t just you know look at a couple of blurbs, get their track record, make sure they align with your deals.

Ivan Barratt: [00:36:28] We turn a lot of capital down. We’ve [00:36:30] got some great conversations with some funds but a lot of funds right now are looking to do three to five year exits. And I haven’t really seen a whole lot of deals that match up well to a 3 to 5 year exit because again you’re you’re essentially having to take some sort of short term financing that has a lot of interest rate risk to it versus a longer term 10 plus year hold. You know with real estate if you can stretch out that maturity and you can hold long [00:37:00] term you can you can write out just about any economic storm.

Patrick Antrim: [00:37:03] Right. And I mean is that three to five years fee driven? Depending how those those deals are structured.

Ivan Barratt: [00:37:11] Yeah. Absolutely.

Ivan Barratt: [00:37:14] I think people should be less focused on IRR right now and more focused on cash flow.

Ivan Barratt: [00:37:19] I think investors should be more focused on a flight to quality and then higher return asset class or location? [00:37:30]

Patrick Antrim: [00:37:30] Yes,yes.

Ivan Barratt: [00:37:33] We would be hard pressed to do a C asset right now unless I was in A location. So we like the B properties and I think I think investors and sponsors or developers that are chasing cap rates right now are going to lose because if you if you’re drawing a line in the sand and saying oh I need in a cap and it’s got to be this cash flow cash return you’re going to be looking at some very poor quality assets and you’re probably missing [00:38:00] something anyway.

Ivan Barratt: [00:38:02] So I’d I’d much rather put put capital to work at a slightly lower return in this environment. But in an asset that I know has virtually zero downside risk. So for example I’m closing today excuse me tomorrow or the next day on a 2004 built product I called an A minus B plus path of growth location checks all the boxes were assuming underlying [00:38:30] HUD debt and rents are about half of what Class A plus plus suburban urban assets are renting for. And so our capital stack. We’re putting a little bit more leverage in there with them some really great mezzanine financing through the through our partnership. And that deal I would make a strong argument that there’s virtually [00:39:00] zero risk now of course there’s no guarantees. I could never say something is 100 percent guaranteed. There’s always risks but to buy that sort of asset right now in a class that we’re in in one of the best suburb suburban areas of Indianapolis by going in cash on cash is going to be 7 percent. Right. And two years ago I might have said it needs to be a 9 but I’d much rather I’d much rather be working at 7 or 8 percent for [00:39:30] very low downside for very little downside potential.

Patrick Antrim: [00:39:36] And it’s important to have alignment with those investors right?

Ivan Barratt: [00:39:41] Not everybody wants that. I get calls all the time folks a one two, three, four year, turnaround and they want to make you know 20 plus percent IRR and some of those deals are going to still pan out. But I think at some point just beyond the horizon where we were we can predict [00:40:00] a lot of those projects are going to go poof at least from an equity standpoint. The banks will be ok. The banks will get out mostly whole. But the equity will evaporate.

Patrick Antrim: [00:40:10] Right. Right. Well anytime you rush a process it’s never good for it.

Ivan Barratt: [00:40:16] And there seems to be a lot of that going on right now. Patrick.

Patrick Antrim: [00:40:19] What do you see as an investment company if you look at your operation as as a manufacturing company? [00:40:30] like what are the raw materials that are necessary going in. If that be the alignment of the investor objectives, right capital structures, all of these things. It’s because we’re in the smartest time you can be with smart people doing these things and the process like your manufacturing process. What has to happen for it to come out ideal in the business?

Patrick Antrim: [00:41:00] Yeah [00:41:00] that’s a great question. I love the manufacturing analogy because you’re right a lot of little parts have to go in in just the right combination to.

Ivan Barratt: [00:41:24] Yes for us or for our manufacturing or for you know we’re almost a little bit defensive in what we [00:41:30] buy right now we want to we want patient capital we want well heeled capital to where we’re only 10 or 15 percent of their portfolio. Accredited investors. Yes, but we also want them to have a certain level of experience and education typically. And we want them to be in it for the long haul, and we’re we’re out there pairing that with deals that we’ll likely do better in a correction. But at the same [00:42:00] time if rents go flat and expenses continue to rise. You know 2 3 percent a year we’re not going to make the returns we wanted to but we’re still going to deliver a return.

Patrick Antrim: [00:42:10] Right.

Ivan Barratt: [00:42:12] And that’s really what we want. I think humans often fail to fully understand downside risk. Right. That old adage of You know worst case scenario typically ends up being a lot a lot worse [00:42:30] than somebody thought it was going to be. And I can speak to that in my development days working for another developer when everything fell off a cliff. You know we thought the worst correction our business will be cut in half and it got cut to zero. I mean everything just fell off a cliff. And and seeing that that trauma again was one of the greatest gifts I’ve been given right. And I’m afraid it maybe [00:43:00] didn’t answer your question.

Patrick Antrim: [00:43:01] No no no. I mean there are details that go through that but I was just curious and you gave me those key points as key materials. I mean it’s interesting you’re real careful about who has the opportunity to work with you.

Ivan Barratt: [00:43:16] Yes. So yes of the way you said it there. I think that that helps me particularly this in that. And I hope your audience hears this too. The world is a wash in money. Capital is everywhere. [00:43:30] Money is sloshing around the every economy all over the globe looking for a good home. So you would be silly or very shortsighted not to not to be very honest and forthright with the types of deals you do with your potential new partners. Right. Because if it’s not a fit for them. So what. There’s plenty of other capital that does that does align perfectly with your mission.

Patrick Antrim: [00:43:59] Right. [00:44:00] Yeah absolutely. So let’s let’s talk about market now and what markets are you operating in now?

Ivan Barratt: [00:44:08] We’re all over the state of Indiana Indianapolis and then several tertiary cities around the Indianapolis solar system. We’re in Evansville Indiana which is the very southern end of Indiana more in the Louisville [00:44:30] southern Indiana solar system. We acquired our first out of state deal in Ohio earlier this year we’re underwriting more projects in Ohio getting close on some things in Kentucky and we are looking for ways to efficiently and effectively continue to hub and spoke out from there. We certainly are more attracted to those tertiary [00:45:00] markets right now. That might be passed over by your larger institutional capital that’s getting pushed out of say coastal markets by global capital. Love college towns with big university hospital systems seats of government. We’re not renting to the students who were renting to the employment the workforce that that that lives in those in those cities [00:45:30] are deal in Ohio is between Cincinnati and Dayton and we like that area.

Ivan Barratt: [00:45:37] And we’re continuing to look for basically business friendly climate, diverse employment, great transportation, infrastructure and we get pretty picky on schools.

Ivan Barratt: [00:45:53] In workforce housing, we want to be the community where the single parent households are [00:46:00] are coming to us not running the other direction. So for instance we don’t have currently any workforce housing in Indianapolis Public Schools. There are still just too much turmoil there and there’s not there’s a few great ones now and then the rest are not so great. So we certainly like those those suburban school districts more.

Ivan Barratt: [00:46:26] We want to we want to be in desirable locations. Being [00:46:30] near malls and being near retail doesn’t frighten me. I think a lot of retail is going to look very different in the next decade or two. But it’s still good real estate intrinsically.

Patrick Antrim: [00:46:46] You’re not afraid of those tertiary markets. Why? I mean obviously the larger institutional groups are looking for certain population and you know just their model like you mentioned before like I’ve got their investment criteria and are sticking [00:47:00] to it because it says it in their investment criteria. I mean are we are they sticking to old ways or are you seeing things change? I mean even with we talked on another podcast about the autonomous driving vehicle I mean the way that we look at market surveys and radius is I mean that’s just why have we done it that way. Well somebody did it you know years back but the world is changing. And so there’s things that are happening in the world around us.

Ivan Barratt: [00:47:26] And so you said a couple of things there. First [00:47:30] thing, you know tertiary markets. You’ve got an economic mote in that it’s very difficult if not economically impossible to acquire in title zone build new product. And if it does come online it’s going to be way more expensive price per pound than what I’m renting for or buying existing products in that tertiary city.

Ivan Barratt: [00:47:57] So for me and for my development days [00:48:00] barriers to entry is always a high box on my my checklist. What are the barriers to entry for competition. And if they do enter what’s my value proposition? Namely what am I charging for rent versus where they’re at and do I have enough spread there?

Ivan Barratt: [00:48:18] And I love what you said about you know doing the radials and how how dad did it or granddad did it. You know there’s going to continue to be a lot of disruption in this market and there’s going to [00:48:30] be a lot of cruise ships that they can’t necessarily change direction. And then you’ve got you’ve got us and other operators like us and we’re on wave runners and speedboats and we’re pivoting we’re pivoting whenever we need to where we’re looking at some ways of evaluating markets. There are some some some guys I know that are really talented in the consulting space for governments, for entrepreneurs, for real estate companies. And together [00:49:00] we’re looking at some really ways of seeing things. I’ll give you one anecdote. Like you said if you put a point on a map and you do a radial.  You’re going to get one set of economic data. But what if what if the property is right on the wrong side of the zip code. Right. Right. It’s on the wrong side of the railroad track and you’re pulling all you’re pulling all this information from from the you know from the nice neighborhood pulling up your data or conversely the property [00:49:30] is well located but the radial is being pulled down from the other side of the railroad tracks right. And I’m acquiring a project in McCordsville Indianapolis excuse me McCordsville Indiana population 15,000 people but it is a small moon orbiting Saturn in the [00:50:00] Indianapolis Carmel MSA and there is growth occurring all around it. And three major hospital systems within ten minutes major highway with tons of service related jobs and in medical industrial there’s there’s education financial services all kinds of employment great phenomenal metrics right. But if you were looking at it through a telescope [00:50:30] and you just pulled up census data you’d say oh this market is way too small.  So I guess is it just all a long winded way of saying that the way we look at the world really has to has to change versus how we used to look at it. If you’re going to find value.

Patrick Antrim: [00:50:49] Right. Right.

Ivan Barratt: [00:50:50] Because it’s not easy to find value you right now as you know I know.

Patrick Antrim: [00:50:53] Yes.

Patrick Antrim: [00:50:54] And it helps to be able to create it once you have it. But those are some really wonderful things to share. And [00:51:00] look, we appreciate you sharing the time with us today. We’re coming up on the end of our segment here. But I wanted to give you an opportunity to talk about anything you want to leave our listeners with or any kind of final thoughts.

Ivan Barratt: [00:51:14] Oh it’s been really fun day on this show. I like diving into the details and we got to do it more here with you than I usually get to do. Anybody has any questions in the space or anybody wants to talk I’m very accessible. 317-762-2625. [00:51:30] That goes to my assistant and she’ll put you on my on my schedule and I’d love to chat about any of this subject matter just your listeners will have to remember to tell me when to shut up because I can go on all day about this stuff.

Ivan Barratt: [00:51:50] Thank you again Patrick. It’s been really fun Having a chat. Thank you for listening. We hope you enjoyed the Multifamily leadership podcast [00:52:00] for show notes and other resources. Visit multifamily leadership.com.

Get in Touch:

Ivan Barratt on Linkedin

BAM Asset Management on the web

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Ivan Barratt: [00:00:00] Stakeholders and projects are asking the management company how are you achieving the customer centric mentality in your in your management culture Patrick Antrim: [00:00:09] That’s Ivan Barratt. Ivan Barratt: [00:00:00] Stakeholders and projects are asking the management company how are you achieving the customer centric mentality in your in your management culture



Patrick Antrim: [00:00:09] That’s Ivan Barratt. He’s a multifamily owner and syndicator who specializes in FHA and agency finance multifamily projects since 2015, Ivan has raised nearly 30 million in equity acquired over 2000 units and has grown BAM – his company and firm to a best in class management [00:00:30] company. Today, Ivan focuses his time on equity finance, acquisitions, and company strategy. Currently his companies managed well over 150 million in assets just north of 3000 units.



Patrick Antrim: [00:01:44] All [00:01:30] right so Ivan I want to learn a little bit more about how your investment journey began. Can you tell us a little bit about that?



Ivan Barratt: [00:01:54] Sure. Patrick first and foremost thank you for having me on the show. It’s an honor to be here and speak to your audience [00:02:00] and I’m excited to have a conversation with you. For me I am lucky at a very early age. I got a taste for real estate. My father is an attorney. Owned a couple of dozen rental properties growing up I had an uncle that owned a couple of small apartment complexes and another uncle who even though he didn’t graduate sophomore year of high school let alone my school managed to grow a business and [00:02:30] has known a lot of commercial real estate as well. So by the time I got to college I thought Gosh why would anybody want to get a real job. Why wouldn’t you just own lots and lots of apartments and just watched the the proverbial rent checks roll in. Right?



Ivan Barratt: [00:02:46] Well turns out as you know Patrick is it is a real job. But but I do enjoy it out of the gate I worked for a developer for about eight years and as a [00:03:00] small boutique shop here in Indianapolis. And so I was able to wear a lot of different hats learn a lot of different aspects of real estate investment and management and also see from a front row seat to the Great Recession the Great Crash which actually ended up being probably one of the top three gifts in my life.



Patrick Antrim: [00:03:25] Right.



Ivan Barratt: [00:03:28] We’re learning that at a young age [00:03:30] and that’s really what allowed me to sort of hit the reset button so to speak on how I wanted to approach real estate. And that’s when I started my own company in my spare bedroom in 2010 doing it all myself because I knew that if I could just get momentum and learn how to scale and grow and and fail small that when it got to the big stuff that I would be [00:04:00] well equipped to succeed. So I said I started it in 2010 in my spare bedroom doing whatever I could get my hands on. And fast forward to today or we’re approaching 150 million in assets under management. The bulk of our our portfolio are syndicated deals and by that simply my partner and I have found the opportunities raised the capital up of the stack [00:04:30] debt and equity acquired these apartment communities and executed our business plan.



Patrick Antrim: [00:04:36] There’s just a lot of people right now that’s excited about multifamily and there’s also a lot of people jumping in the game that in some cases perhaps they might think well we can operate better than this company or that company or perhaps we can just get this done. It seems pretty simple. What are some early lessons that you earn you learn. I guess going through the process as you began your investment career.



Ivan Barratt: [00:05:01] Oh [00:05:00] sure and I’m glad I learned them early. And on smaller projects but I learned lack of discipline can really ...]]>
Patrick Antrim clean 52:09
A Winning Philosophy for Multifamily Investors with Tanner B. Bickelhaupt https://multifamilyinnovation.com/a-winning-philosophy-for-multifamily-investors-with-tanner-b-bickelhaupt/ Sun, 08 Jul 2018 03:38:40 +0000 https://multifamilyinnovation.com/?p=1348 https://multifamilyinnovation.com/a-winning-philosophy-for-multifamily-investors-with-tanner-b-bickelhaupt/#respond https://multifamilyinnovation.com/a-winning-philosophy-for-multifamily-investors-with-tanner-b-bickelhaupt/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Tanner B. Bickelhaupt who is the founding Principal of The tanbic Company with more than 13 years of real estate, finance and management experience. Tanner’s investment track record includes successfully investing in multiple asset classes, in multiple markets [...] In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Tanner B. Bickelhaupt who is the founding Principal of The tanbic Company with more than 13 years of real estate, finance and management experience. Tanner’s investment track record includes successfully investing in multiple asset classes, in multiple markets and through different economic cycles. Tanner guides the firms overall strategic direction, including developing investment strategies, sourcing suitable investments for acquisition, developing relationships with high quality operating partners and sourcing and maintaining capital partner and lender relationships.

Prior to forming The Tanbic Company, Tanner was the Director of Real Estate for Black Rock Development, a real estate development company representing more than 44 entities with a real estate portfolio valued at over $550M. In 2011, Tanner joined a full-service real estate investment and management company that acquired, developed, built and managed over 9,000 units in multifamily communities in the west and mid-western states. Since 2011, Tanner has raised over $150M of private equity through high-net worth accredited investors which resulted in over $350M of asset purchases throughout the United States.

In this episode, we discuss:

Tanner shares his journey to becoming a Multifamily Property Owner and Investor. Tanner planned and took the steps 2 years before he launched his Multifamily Private Equity Firm.

Tanner stays positive before the day begins to allow him to focus and face the challenges in the business.

As an owner, how Tanner interacts with his management teams.

Results with brand and unique marketing to increase value.

Senior living focus

In todays world, we have the smartest equity, smartest debt, smartest buyers and smartest sellers. To make a real return, you have to buy a property, run it perfectly.

People that are turning 72 years and older is growing by 2.1%. In 2019-2025 it grows by 28%. Demand is not the issue. The problem is, how do you staff it?

Technology and Senior Living

The demand for capital on Tanbic Investment Programs.

The Tanbic philosophy and leveraging 3rd party management.

What does a management company need to do to understand owners needs?

The value of the investment in people.

A seasoned mentorship can get a deal done.

Selecting a Multifamily Third Party Management Company

Get in Touch:

Tanner on Linkedin

The tanbic Company

]]>
In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Tanner B. Bickelhaupt who is the founding Principal of The tanbic Company with more than 13 years of real estate, finance and management experience. In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Tanner B. Bickelhaupt who is the founding Principal of The tanbic Company with more than 13 years of real estate, finance and management experience. Tanner’s investment track record includes successfully investing in multiple asset classes, in multiple markets and through different economic cycles. Tanner guides the firms overall strategic direction, including developing investment strategies, sourcing suitable investments for acquisition, developing relationships with high quality operating partners and sourcing and maintaining capital partner and lender relationships.



Prior to forming The Tanbic Company, Tanner was the Director of Real Estate for Black Rock Development, a real estate development company representing more than 44 entities with a real estate portfolio valued at over $550M. In 2011, Tanner joined a full-service real estate investment and management company that acquired, developed, built and managed over 9,000 units in multifamily communities in the west and mid-western states. Since 2011, Tanner has raised over $150M of private equity through high-net worth accredited investors which resulted in over $350M of asset purchases throughout the United States.



In this episode, we discuss:



Tanner shares his journey to becoming a Multifamily Property Owner and Investor. Tanner planned and took the steps 2 years before he launched his Multifamily Private Equity Firm.



Tanner stays positive before the day begins to allow him to focus and face the challenges in the business.



As an owner, how Tanner interacts with his management teams.



Results with brand and unique marketing to increase value.



Senior living focus



In todays world, we have the smartest equity, smartest debt, smartest buyers and smartest sellers. To make a real return, you have to buy a property, run it perfectly.



People that are turning 72 years and older is growing by 2.1%. In 2019-2025 it grows by 28%. Demand is not the issue. The problem is, how do you staff it?



Technology and Senior Living



The demand for capital on Tanbic Investment Programs.



The Tanbic philosophy and leveraging 3rd party management.



What does a management company need to do to understand owners needs?



The value of the investment in people.



A seasoned mentorship can get a deal done.



Selecting a Multifamily Third Party Management Company



Get in Touch:



Tanner on Linkedin



The tanbic Company




]]>
Patrick Antrim clean 40:41
Home Automation as a Business Tool https://multifamilyinnovation.com/home-automation-as-a-business-tool/ Wed, 04 Apr 2018 03:23:34 +0000 https://multifamilyinnovation.com/?p=1341 https://multifamilyinnovation.com/home-automation-as-a-business-tool/#respond https://multifamilyinnovation.com/home-automation-as-a-business-tool/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Sean Miller who is the President of PointCentral an Alarm.com subsidiary, and a leading developer of enterprise scale smart-home solutions for short and long-term property managers. In this episode, we discuss: Opening remarks: What is PointCentral? Technology is [...]

In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Sean Miller who is the President of PointCentral an Alarm.com subsidiary, and a leading developer of enterprise scale smart-home solutions for short and long-term property managers.

In this episode, we discuss:

  • Opening remarks: What is PointCentral?
  • Technology is transforming the way we are working in Multifamily. An inside look at meeting with Multifamily Executives.
  • Home automation is not just resident enhancing. How PointCentral help property managers do their jobs more efficiently.
  • Clip from Marco Vartanian Senior Vice President of Invitation Homes at the 2017 Multifamily Leadership Summit.
  • The future of the Leasing Agent in Multifamily. What does the future look like in our roles in the future?
  • PointCentral to provide platorm and enable companies to innovate.
  • Unattended showings with keyless locks to improve security and remove the cost to maintain a key system
  • Capture data – who long they were there looking at the apartment. Provide new prospective residents the opportunity to tour an apartment without the leasing agent.
  • Innovations are happening quicker than before.
  • PointCentral working together with companies so they can transform.

Based on how a leader serves their residents and owners, they need to have people in the organization that understand what technology can do today and have a vision of what technology can do in the future.

  • Leaders can roll out new services like self-show tours, HVAC, water monitoring/etc. Take a look at new and unique ways to deploy services with sensors.
  • PointCentral wants to partner with property managers to understand how you want to manage your property, who are you serving, what do you want to do. Once they know this they can begin with one pain point to get started adding value.
  • Once you implement, you will explore more opportunities to evolve.
  • How does PointCentral make sure everything is used in the right way. How they support companies in the process. The property manager needs buy in from executive to field and align with the right partner. Need right training with the right teams at the right time. The partner must have the resources to deploy this system with you.
  • What is the risk of making the wrong decision for those who want to do smart home technology on their own? Hardware is not very technically risky. What can we do to help to make sure the right data gets to the property manager at the right time vs. flooding them with information.
  • The consumer is driving the experience. The millennial experience.
  • Can we be a 24-hour leasing? Millenials enjoy being in more control. 1/3 of US household have some automation tech. For renters, it’s been a confusing topic.
  • Clip from Marco Vartanian Senior Vice President Innovation Homes.

PointCentral’s job is to provide a platform that is reliable and that’s why we use cellular connections. We have roboust data security and data privacy policies. We get the data to and from the house reliably. Then our job is to get the information to the management company in a way that is useful. We take a very flexible approach to make sure that data flows.

  • What are the risks? Now that awareness is growing people are tempted to just buy smart home technology on Amazon or local retailer. They are not thinking throught how to control the devices and how they are protecting the data.
  • The ability to get rid of keys, key management systems with work order integration. This is a significant ROI on the platform.
  • What are the trends in adoption of multifamily smart home automation tech?
  • The PointCentral support system and team-
  • What can we expect with business interruption deploying a smart home technology?
  • Sean Miller’s final thoughts.

Get in Touch:

Sean Miller on Linkedin

PointCentral

]]>
In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Sean Miller who is the President of PointCentral an Alarm.com subsidiary, and a leading developer of enterprise scale smart-home solutions for short and long-term propert...



In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Sean Miller who is the President of PointCentral an Alarm.com subsidiary, and a leading developer of enterprise scale smart-home solutions for short and long-term property managers.



In this episode, we discuss:



* Opening remarks: What is PointCentral?* Technology is transforming the way we are working in Multifamily. An inside look at meeting with Multifamily Executives.* Home automation is not just resident enhancing. How PointCentral help property managers do their jobs more efficiently.* Clip from Marco Vartanian Senior Vice President of Invitation Homes at the 2017 Multifamily Leadership Summit.* The future of the Leasing Agent in Multifamily. What does the future look like in our roles in the future?* PointCentral to provide platorm and enable companies to innovate.* Unattended showings with keyless locks to improve security and remove the cost to maintain a key system* Capture data – who long they were there looking at the apartment. Provide new prospective residents the opportunity to tour an apartment without the leasing agent.* Innovations are happening quicker than before.* PointCentral working together with companies so they can transform.



Based on how a leader serves their residents and owners, they need to have people in the organization that understand what technology can do today and have a vision of what technology can do in the future.



* Leaders can roll out new services like self-show tours, HVAC, water monitoring/etc. Take a look at new and unique ways to deploy services with sensors.* PointCentral wants to partner with property managers to understand how you want to manage your property, who are you serving, what do you want to do. Once they know this they can begin with one pain point to get started adding value.* Once you implement, you will explore more opportunities to evolve.* How does PointCentral make sure everything is used in the right way. How they support companies in the process. The property manager needs buy in from executive to field and align with the right partner. Need right training with the right teams at the right time. The partner must have the resources to deploy this system with you.* What is the risk of making the wrong decision for those who want to do smart home technology on their own? Hardware is not very technically risky. What can we do to help to make sure the right data gets to the property manager at the right time vs. flooding them with information.* The consumer is driving the experience. The millennial experience.* Can we be a 24-hour leasing? Millenials enjoy being in more control. 1/3 of US household have some automation tech. For renters, it’s been a confusing topic.* Clip from Marco Vartanian Senior Vice President Innovation Homes.



PointCentral’s job is to provide a platform that is reliable and that’s why we use cellular connections. We have roboust data security and data privacy policies. We get the data to and from the house reliably. Then our job is to get the information to the management company in a way that is useful. We take a very flexible approach to make sure that data flows.



* What are the risks? Now that awareness is growing people are tempted to just buy smart home technology on Amazon or local retailer. They are not thinking throught how to control the devices and how they are protecting the data.* The ability to get rid of keys, key management systems with work order integration. This is a significant ROI on the platform.* What are the trends in adoption of multifamily smart home automation tech?* The PointCentral support system and team-* What can we expect with business interruption deploying a smart home technology?]]>
Patrick Antrim clean 32:28
Your Candidate is your Customer and your Customer is your Candidate https://multifamilyinnovation.com/your-candidate-is-your-customer-and-your-customer-is-your-candidate/ Fri, 02 Mar 2018 03:33:04 +0000 https://multifamilyinnovation.com/?p=1345 https://multifamilyinnovation.com/your-candidate-is-your-customer-and-your-customer-is-your-candidate/#respond https://multifamilyinnovation.com/your-candidate-is-your-customer-and-your-customer-is-your-candidate/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with David Draper the Manager of Recruiting & Employment at the Lewis Group of Companies, one of the nation’s largest privately-held real estate developers. As the company’s Talent Acquisition leader, David fosters strategies that drive talent acquisition planning, recruitment [...] In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with David Draper the Manager of Recruiting & Employment at the Lewis Group of Companies, one of the nation’s largest privately-held real estate developers. As the company’s Talent Acquisition leader, David fosters strategies that drive talent acquisition planning, recruitment marketing, and employee engagement/retention initiatives.

David attended California State University Northridge and has his Human Resources Management Certification from UC Riverside. He began his recruiting career over twenty years ago with Robert Half International and The Cambridge Group, opening the Inland Empire and Orange County California divisions of each. Prior to recruiting, David placed a different type of candidate as a Talent Agent in Beverly Hills placing actors in major film, television, and theatre productions.

In this episode, we discuss:

  • Your candidate is your customer and your customer is your candidate
  • Talent Acquisition market has changed. 2008 recession changed the game. Candidates were plentiful, the recession came and candidates were plentiful. Employers had their choices.
  • The candidate experience is extremely important

The experience a candiate wants in looking for a job is very much like the experience of a consumer.

  • Candidates are looking for: Personalized, technology, apply quickly, preferably on mobile, authentic and a good grasp of the culture. The company has a social footprint.

A candidate for your company is looking at your company the same way they look at a product.

  • Recruitment is marketing. Recruiters should have a strong grasp of what they are doing for the organization. The recruiting team front facing to the public for the organization.
  • The supply and demand in the job market. Look at the job market like we look at the rental market.
  • How to get buy-in from executive leadership. Recruiting and talent acquisition is moving at light speed. Show data to the executive leadership on the quality of candidates and the reduction of job placement costs.
  • Create a community brand and funnel the public to content on corporate site.
  • The touch points of the consumer experience.
  • MultifamilyScout.com – Helping brands build a strong employer brand position.
  • Tracking data on content and the complete picture of the candidate experience.
  • My first 6 months as a Lewis Leasing Consultant.
  • Need to be transparent. Need to be honest…this is what the job will do, this is how much it will pay, our strong performers have these attributes, here is why you will do it. You will be a huge reason people will rent at these beautiful communities.
  • Job fair results
  • Partnering with the executive leadership team on a new approach to find talent. Recruiting must be able to show data, the value, what problem do you have? What solution do you want to try?
  • Everyone is a recruiter. A referred employee is a quality hire.
  • People who are referred go straight to the application vs internet-wide search and review.
  • How we handle the relationship to those we don’t hire.

Make the application process simple.

Offer the ability to apply for a job in under 5 minutes, on your phone.  This is extremely attractive to candidates. Just like buying something on Amazon.

  • You have to love people if you want to be in this business. We make communities.

If you keep your people happy, the customer service and sales will take care of itself.

Connect with Lewis Group of Companies:

Career Website:

Corporate Website:

Lewis Group of Companies Instagram

Lewis Group of Companies Twitter

Lewis Group of Companies Facebook

Connect with David Draper

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In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with David Draper the Manager of Recruiting & Employment at the Lewis Group of Companies, one of the nation’s largest privately-held real estate developers. In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with David Draper the Manager of Recruiting & Employment at the Lewis Group of Companies, one of the nation’s largest privately-held real estate developers. As the company’s Talent Acquisition leader, David fosters strategies that drive talent acquisition planning, recruitment marketing, and employee engagement/retention initiatives.



David attended California State University Northridge and has his Human Resources Management Certification from UC Riverside. He began his recruiting career over twenty years ago with Robert Half International and The Cambridge Group, opening the Inland Empire and Orange County California divisions of each. Prior to recruiting, David placed a different type of candidate as a Talent Agent in Beverly Hills placing actors in major film, television, and theatre productions.



In this episode, we discuss:



* Your candidate is your customer and your customer is your candidate* Talent Acquisition market has changed. 2008 recession changed the game. Candidates were plentiful, the recession came and candidates were plentiful. Employers had their choices.* The candidate experience is extremely important



The experience a candiate wants in looking for a job is very much like the experience of a consumer.



* Candidates are looking for: Personalized, technology, apply quickly, preferably on mobile, authentic and a good grasp of the culture. The company has a social footprint.



A candidate for your company is looking at your company the same way they look at a product.



* Recruitment is marketing. Recruiters should have a strong grasp of what they are doing for the organization. The recruiting team front facing to the public for the organization.* The supply and demand in the job market. Look at the job market like we look at the rental market.* How to get buy-in from executive leadership. Recruiting and talent acquisition is moving at light speed. Show data to the executive leadership on the quality of candidates and the reduction of job placement costs.* Create a community brand and funnel the public to content on corporate site.* The touch points of the consumer experience.* MultifamilyScout.com – Helping brands build a strong employer brand position.* Tracking data on content and the complete picture of the candidate experience.* My first 6 months as a Lewis Leasing Consultant.* Need to be transparent. Need to be honest…this is what the job will do, this is how much it will pay, our strong performers have these attributes, here is why you will do it. You will be a huge reason people will rent at these beautiful communities.* Job fair results* Partnering with the executive leadership team on a new approach to find talent. Recruiting must be able to show data, the value, what problem do you have? What solution do you want to try?* Everyone is a recruiter. A referred employee is a quality hire.* People who are referred go straight to the application vs internet-wide search and review.* How we handle the relationship to those we don’t hire.



Make the application process simple.Offer the ability to apply for a job in under 5 minutes, on your phone.  This is extremely attractive to candidates. Just like buying something on Amazon.



* You have to love people if you want to be in this business. We make communities.



If you keep your people happy, the customer service and sales will take care of itself.



Connect with Lewis Group of Companies:



Career https://multifamilyinnovation.com/?p=1351 https://multifamilyinnovation.com/the-future-of-real-estate-with-the-autonomous-vehicle-with-marcus-strom/#respond https://multifamilyinnovation.com/the-future-of-real-estate-with-the-autonomous-vehicle-with-marcus-strom/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Marcus Strom, founder of Autonomous Driving Research, a non-profit organization on autonomous driving to evaluate, challenge, inform, and propose solutions for vehicles, drivers, operators, and infrastructure agencies for the successful integration of Autonomous Driving Vehicles (ADV) with current [...] In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Marcus Strom, founder of Autonomous Driving Research, a non-profit organization on autonomous driving to evaluate, challenge, inform, and propose solutions for vehicles, drivers, operators, and infrastructure agencies for the successful integration of Autonomous Driving Vehicles (ADV) with current traffic systems. This organization is independent of any manufacturer, supplier, agency, brand, or solution. Marcus maintained self-driving vehicle fleets through install, diagnostics, calibration, qualifying, maintaining, troubleshooting, and operating advanced self-driving autonomous vehicle hardware and software systems and OEM platform systems. He also launched initial technical operations and tech support in this industry.

There are almost 260 million vehicles on the road today, 2 billion parking spaces, and 125 thousand gas stations. Your car is parked 95% of the time. The utilization of a vehicle is no where near what it could be.

If it doesn’t help save us time or money, at the end of the day, why use it? – Marcus Strom

In this episode, we discuss:

  • Research centered around the vehicle, sensors, and underlying safety
  • Increasing utilization of the vehicle
  • How the use of autonomous vehicles can and will increase productivity
  • How people define where they really want to live when commuting is not an issue
  • Changing behaviors
  • Google’s influence on this industry
  • Looking 360 degrees around the vehicle at all times – software, knowledge base, sensors, weather conditions
  • Worldwide solutions and real-world environments
  • Understanding traffic patters, societal trust of “red light, green light”
  • Behavioral acceptance and integration – education is key
  • Exponential growth of technology and integration

Having been in and out of the driver’s seat of one of these vehicles, and experienced it day in and day out, it is pretty fascinating. It is something that if we don’t do it now, you could be left behind. That’s opportunity for someone else. – Marcus Strom

  • Best approach for acceptance and understanding
  • Lidar – Light Detection and Ranging
  • Using laser light to send signals 360 degrees to see at night and radar to search for motion
  • Autonomous vehicle safety – much more sensitive than human perception
  • Interior and exterior appearance of vehicles
  • How the autonomous vehicle  and ride sharing can impact apartment communities
  • Real estate development and city planning
  • A to B transportation – city busses and trains becoming autonomous
  • Disruption of industry
  • Adoption rate of autonomous vehicles
  • Changing roles of vehicle ownership

When is it coming and when can I buy one? are the wrong questions. The right question is, when can I experience it?

  • Fostering relationships and partnerships between properties and companies
  • Opportunity for management companies and developers
  • Parking and density
  • On-demand service
  • Artificial intelligence learning and execution
  • Alexa, Google, Siri voice recognition and searching

CONNECT with Marcus:

Web: https://autonomousdrivingresearch.org/

]]> In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Marcus Strom, founder of Autonomous Driving Research, a non-profit organization on autonomous driving to evaluate, challenge, inform, and propose solutions for vehicles, In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Marcus Strom, founder of Autonomous Driving Research, a non-profit organization on autonomous driving to evaluate, challenge, inform, and propose solutions for vehicles, drivers, operators, and infrastructure agencies for the successful integration of Autonomous Driving Vehicles (ADV) with current traffic systems. This organization is independent of any manufacturer, supplier, agency, brand, or solution. Marcus maintained self-driving vehicle fleets through install, diagnostics, calibration, qualifying, maintaining, troubleshooting, and operating advanced self-driving autonomous vehicle hardware and software systems and OEM platform systems. He also launched initial technical operations and tech support in this industry.



There are almost 260 million vehicles on the road today, 2 billion parking spaces, and 125 thousand gas stations. Your car is parked 95% of the time. The utilization of a vehicle is no where near what it could be.



If it doesn’t help save us time or money, at the end of the day, why use it? – Marcus Strom



In this episode, we discuss:



* Research centered around the vehicle, sensors, and underlying safety* Increasing utilization of the vehicle* How the use of autonomous vehicles can and will increase productivity* How people define where they really want to live when commuting is not an issue* Changing behaviors* Google’s influence on this industry* Looking 360 degrees around the vehicle at all times – software, knowledge base, sensors, weather conditions* Worldwide solutions and real-world environments* Understanding traffic patters, societal trust of “red light, green light”* Behavioral acceptance and integration – education is key* Exponential growth of technology and integration



Having been in and out of the driver’s seat of one of these vehicles, and experienced it day in and day out, it is pretty fascinating. It is something that if we don’t do it now, you could be left behind. That’s opportunity for someone else. – Marcus Strom



* Best approach for acceptance and understanding* Lidar – Light Detection and Ranging* Using laser light to send signals 360 degrees to see at night and radar to search for motion* Autonomous vehicle safety – much more sensitive than human perception* Interior and exterior appearance of vehicles* How the autonomous vehicle  and ride sharing can impact apartment communities* Real estate development and city planning* A to B transportation – city busses and trains becoming autonomous* Disruption of industry* Adoption rate of autonomous vehicles* Changing roles of vehicle ownership



When is it coming and when can I buy one? are the wrong questions. The right question is, when can I experience it?



* Fostering relationships and partnerships between properties and companies* Opportunity for management companies and developers* Parking and density* On-demand service* Artificial intelligence learning and execution* Alexa, Google, Siri voice recognition and searching



CONNECT with Marcus:



Web: https://autonomousdrivingresearch.org/




]]>
Patrick Antrim clean 1:06:32
How we Learn and Adapt to Change https://multifamilyinnovation.com/how-we-learn-and-adapt-to-change/ Wed, 27 Sep 2017 03:47:21 +0000 https://multifamilyinnovation.com/?p=1354 https://multifamilyinnovation.com/how-we-learn-and-adapt-to-change/#respond https://multifamilyinnovation.com/how-we-learn-and-adapt-to-change/feed/ 0 Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North America becoming on of the youngest Executive Coaches in the Robbins [...] Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North America becoming on of the youngest Executive Coaches in the Robbins Results Coaching Company.

He’s a straight shooting, passionate leader who went out on his own after seeing the client base swell to more than 5,000 professionals. His impressive client base reads like a “Who’s Who in Corporate America” with a list of corporate executives, professional athletes, celebrities and even teenagers seeking that next level.  Michael focuses on results and accountability. He appears on national and local media outlets like Fox News, CNN, Headline News to comment on topical issues.

In this show we discuss:

  • How people learn and adopt new technologies and the process they take
  • Quality of questions equals the quality of your life.
  • Most people don’t ask good questions of self. If you ask bad questions, you get bad answers.
  • We talk to ourselves at 1,000 words per minute
  • Learning takes practice and repitition
  • Learning is about being exposed to certain things initially and then doing it consistently over time. Much like learning a language.
  • Issue Rule Analysis Conclusion in how to approach solving problems.
  • We have to unlearn some things. Mike’s approach from shifting from logical legal approach to emotional learning and development.
  • Introduction, body, conclusion. Tell me what you’re going to tell me, tell me, tell me what you told me. The principles of learning
  • Understand the level of fluency in the person you are working with and make sure they are aware of your fluency. Go back to the basics of communication.
  • Most people don’t immerse themselves into what they need to know. Most are not committed to mastery.
  • Pattern recognition is very important to know how to issue spot, what to apply and develop solutions.
  • The repetition aspect of pattern recognition is important. Begin putting yourself in fail safe situations that allow you to develop pattern recognition.
  • Put yourself out of your comfort zone 10 times a week. Most people don’t get the repetition that they need to develop pattern recognition. If you don’t work for a leader that is placing you in these situations, do it yourself.
  • How you encourage self awareness.
  • The Awareness Model- Four steps
    • Unconsciously Incompetent– You don’t know that you don’t know. If we become curious, we graduate to second level.
    • Consciously Incompetent– You know that you don’t know. Go study, do you homework and now you will know what you know.
    • Consciously Competent– I know what I know.
    • Unconsciously Incompetent – When you become fluent in your work and your pattern recognition is very high. You’ve immersed yourself in study.
  • As a Multifamily Executive or leaders, we often apply our values to other leaders. We need to understand how people view their role. Creating intrinsic results. Ask questions. What ever you believe you’re right. When you get people articulation in their own language patterns. We can’t see our own blind spots. When people articulate their own self beliefs it’s much better than imparting that on other people.
  • People have success and it’s challenging to require change if we have a high level of success. Great leaders are always innovation. Themselves, the culture of the company and the business.
  • Innovation and change- great leaders are always looking in the mirror. Great leaders are always confronting the brutal facts of the situation. If you are not growing, you’re dying.
  • Use objective tools for leaders to measure behavior.
  • How do you make decisions? Do you filter through fairness, right or wrong, money?
  • Our natural instincts are a default without objective tools. The problem is we rely on what our parents taught us, mentors or other leaders. This means we rely on old school strategies. These can work but we have very effective tools available to us today.
  • Invest in your company to understand what people think. Get objective Multifamily third party research
  • Implementing change- some change we want to keep. It’s usually not about change itself.
  • Test assumptions with people when working with objective tools. Dive deeper with people and use objective tools as a framework for good questions and conversation.

If you want to see if someone is effective, look at how people have trained themselves to create awareness and adapt to different types of people.

  • Pattern interrupts- The easiest analysis one can give. Identify one area of self where you are not doing well. Put a microscope on it. Ask why the results are not there. Brainstorm with the team. Then ask the million dollar question. What are we going to do about it?
  • If we are going to innovate, do what great leaders do. Confront the brutal facts and make change.
  • Most leaders don’t want to look at deficiencies. Get a survey to better understand how people work together. Bring in a trusted resource.
  • Leaders will push back when dealing with tough and often times known issues. They know they should, but don’t want to confront facts. It’s a tough thing to do. But success is on the other side of this fear.
  • It might sting, but that is where you really grow as a person and company.
  • We want to avoid pain. When we feel pain at looking at brutal facts it can be difficult. When you are committed to the journey of personal development big results follow for you and your company.

Connecting with Mike:

Twitter: @MikeLindstrom

Web: Mike Lindstrom

]]>
Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North Ame... Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North America becoming on of the youngest Executive Coaches in the Robbins Results Coaching Company.



He’s a straight shooting, passionate leader who went out on his own after seeing the client base swell to more than 5,000 professionals. His impressive client base reads like a “Who’s Who in Corporate America” with a list of corporate executives, professional athletes, celebrities and even teenagers seeking that next level.  Michael focuses on results and accountability. He appears on national and local media outlets like Fox News, CNN, Headline News to comment on topical issues.



In this show we discuss:



* How people learn and adopt new technologies and the process they take* Quality of questions equals the quality of your life.* Most people don’t ask good questions of self. If you ask bad questions, you get bad answers.* We talk to ourselves at 1,000 words per minute* Learning takes practice and repitition* Learning is about being exposed to certain things initially and then doing it consistently over time. Much like learning a language.* Issue Rule Analysis Conclusion in how to approach solving problems.* We have to unlearn some things. Mike’s approach from shifting from logical legal approach to emotional learning and development.* Introduction, body, conclusion. Tell me what you’re going to tell me, tell me, tell me what you told me. The principles of learning* Understand the level of fluency in the person you are working with and make sure they are aware of your fluency. Go back to the basics of communication.* Most people don’t immerse themselves into what they need to know. Most are not committed to mastery.* Pattern recognition is very important to know how to issue spot, what to apply and develop solutions.* The repetition aspect of pattern recognition is important. Begin putting yourself in fail safe situations that allow you to develop pattern recognition.* Put yourself out of your comfort zone 10 times a week. Most people don’t get the repetition that they need to develop pattern recognition. If you don’t work for a leader that is placing you in these situations, do it yourself.* How you encourage self awareness.* The Awareness Model- Four steps
* Unconsciously Incompetent– You don’t know that you don’t know. If we become curious, we graduate to second level.* Consciously Incompetent– You know that you don’t know. Go study, do you homework and now you will know what you know.* Consciously Competent– I know what I know.* Unconsciously Incompetent – When you become fluent in your work and your pattern recognition is very high. You’ve immersed yourself in study.
* As a Multifamily Executive or leaders, we often apply our values to other leaders. We need to understand how people view their role. Creating intrinsic results. Ask questions. What ever you believe you’re right. When you get people articulation in their own language patterns. We can’t see our own blind spots. When people articulate their own self beliefs it’s much better than imparting that on other people.* People have success and it’s challenging to require change if we have a high level of success. Great leaders are always innovation. Themselves, the culture of the company and the business.* Innovation and change- great leaders are always looking in the mirror. Great leaders are always confronting the brutal facts of the situation. If you are not growing, you’re dying.]]>
Patrick Antrim clean 44:40
A Better way to Lead with Jared Miller https://multifamilyinnovation.com/a-better-way-to-lead-with-jared-miller/ Fri, 14 Jul 2017 04:01:39 +0000 https://multifamilyinnovation.com/?p=1363 https://multifamilyinnovation.com/a-better-way-to-lead-with-jared-miller/#respond https://multifamilyinnovation.com/a-better-way-to-lead-with-jared-miller/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Jared Miller who is a Managing Director, Asset Manager & Operations leader for Homestead Development Partners. In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Jared Miller who is a Managing Director, Asset Manager & Operations leader for Homestead Development Partners.

Jared started Homestead Development Partners with his partners in 2015 and is capitalizing on his 20 years of apartment management experience. He’s a regular speaker at industry conferences and has a core belief that there is a better way to create a leading company, do business and deliver exceptional products to the market.

On the show, we discuss:

  • Discuss the role of a Managing Director in Multifamily. Looking at activities through the owners perspective.
  • Jared shares the value of his onsite experience and other roles in operation.
  • Homestead Development Partners projects and what their working on
  • The Helix brand discussion. Urban and high end properties. Developing the brand by spending time in the local market, conversations and focus groups with students. Don’t develop a brand up front and expect for it to live and thrive over time. It needs to evolve with the community.
  • Each local community is unique. Look at the market and allow the market to help dictate the direction of the brand = their Archive brand a result of listening and responding to community values and essence.
  • Lease up as a start up. Understand the bigger picture of the brand and determine who will be part of that experience.
  • Locally developing the brand locally and allowing it to evolve. Same approach from staffing perspective. Team needs to understand what brand stands for.

The true brand differentiator is the people that back up the brand.

  • Multifamily experience is mostly trial and error. People that can explain the how’s and why’s will help people to understand the culture and develop talent.
  • Culture needs to come from the top and care about each person.

What Jared looks for when hiring a Multifamily Property Management Company

  • A structured RFP (Request for Proposal) process. Find the right management company for the specific property and market based on what you are trying to deliver.
  • Spend time to develop the RFP, go through the responses and then get to a face to face meeting.

When the pressure is on, how you maintain the commitment to culture

  • Senior housing can feel like a lease up every year. Intensity of tracking results with constant pressure points. Make sure to regularly reward and recognize onsite teams. Help the onsite teams with ideas to keep the ball rolling. Spend time with the onsite teams individually. Onsite teams are looking for more and would like to learn about career paths. This is a good investment of a top leaders time and you can discover some creative ideas and maybe even innovation.
  • Get out in front of the business and set the teams up for success.

How to recruit and attract leaders

  • Choose a Multifamily Management company that has a good track record for finding talent.
  • The owner needs to set the tone and be realistic what it will cost. Don’t just assume old assumptions by previous management companies.
  • Comparison to the Automotive Industry on importance to focus on the internal strategies of your company.

On-boarding employees in a growing company

  • Owners need to be involved and play a part of what the vision is for the company, property and brand.
  • As Owners, stay involved throughout the employee experience.
  • Disney training is a great hospitality experience
  • Hiring fairs – 4-5 minute interviews following a customer service, product, brand presentation that allows you to watch and observe strengths. Advertise a few weeks in advance and give specifics. 30 minute introduction followed by interview.
  • People want to work on winning teams

What to look for in a leader

  • For student housing you need . a strong personality. Empathetic, caring and maybe even a student mentor that can be assertive to set things right. Must be hospitality minded. Leading hospitality organizations should be emulated.

Millennial

  • Challenge your assumptions about Millennials. Listen and let people feel valued. Sometimes they approach work differently.
  • Sometimes we need to check with the source before operating from data assumptions. Specifically about Millenial employees.
  • People do have different expectations.
  • If you help guide people in the right direction, they should be happy.

Jared’s key to success

  • Fortunate to learn from the best in the business. Leveraged amazing people that helped guide Jared.
  • Lane Company provided an opportunity and the Regional Vice President gave him a chance.
  • Pay attention to the best companies. Pick what is great and build on it.
  • Listen to all the information that is coming at you and get clear on what matters. Focus on the information that matters.

Multifamily Opportunities

  • Investment perspective: Challenging to cut thorough the assumptions. Dig in and find the rare opportunities someone is not looking at in the right way.
  • Construction cost forces us to be very cautious of where we build.
  • Look for what’s right for your investors

Culture and how it creates yield for investors

  • Multiple factors to the total cost of employees. What are the opportunity cost by not having the right person?
  • Different challenges at each position
  • Simple math on employee turnover and the impact to value.

How to take your career to the next level

  • Make sure you are in the right place.
  • You should feel value and have the opportunity to grow. Now or maybe down the road.
  • Find the people that will listen, give sound advice, be your advocate and help you navigate the challenges you will face in your career.

How Jared used accountability to fast track his career

  • Been fortunate to grow with few companies. Carefully positioned himself and found people that could help and guide with good feedback.
  • Always look for ways to add value, fix problems.
  • The Multifamily Industry can sometimes feel “clicky” We focus on the talent that’s been around and everyone knows versus the young person coming into the industry.
  • Embrace people and their perspective of where they are in their career.
  • Part time leasing in college can be a powerful tool to introduce people to the industry.
  • Make the connection that people are working for real people in the investment process.
  • Look at the big picture.
  • People are your investment and without the people, we don’t have corporations.
  • Take the time to communicate. It doesn’t cost money and will keep people engaged in your company.

Final thoughts from Jared Miller

  • A leader in Multifamily. Take the time to reflect on how you arrived where you are. See who you can help along the way.
  • Big talent gap, help mentor to fill that gap.

CONNECT with Jared Miller

Homestead Development Partners

MORE FROM OUR SPONSORS

Get your FREE audiobook download and 30 day free trial at www.audibletrial.com/multifamily

]]>
In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Jared Miller who is a Managing Director, Asset Manager & Operations leader for Homestead Development Partners. In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Jared Miller who is a Managing Director, Asset Manager & Operations leader for Homestead Development Partners.



Jared started Homestead Development Partners with his partners in 2015 and is capitalizing on his 20 years of apartment management experience. He’s a regular speaker at industry conferences and has a core belief that there is a better way to create a leading company, do business and deliver exceptional products to the market.



On the show, we discuss:



* Discuss the role of a Managing Director in Multifamily. Looking at activities through the owners perspective.* Jared shares the value of his onsite experience and other roles in operation.* Homestead Development Partners projects and what their working on* The Helix brand discussion. Urban and high end properties. Developing the brand by spending time in the local market, conversations and focus groups with students. Don’t develop a brand up front and expect for it to live and thrive over time. It needs to evolve with the community.* Each local community is unique. Look at the market and allow the market to help dictate the direction of the brand = their Archive brand a result of listening and responding to community values and essence.* Lease up as a start up. Understand the bigger picture of the brand and determine who will be part of that experience.* Locally developing the brand locally and allowing it to evolve. Same approach from staffing perspective. Team needs to understand what brand stands for.



The true brand differentiator is the people that back up the brand.



* Multifamily experience is mostly trial and error. People that can explain the how’s and why’s will help people to understand the culture and develop talent.* Culture needs to come from the top and care about each person.



What Jared looks for when hiring a Multifamily Property Management Company



* A structured RFP (Request for Proposal) process. Find the right management company for the specific property and market based on what you are trying to deliver.* Spend time to develop the RFP, go through the responses and then get to a face to face meeting.



When the pressure is on, how you maintain the commitment to culture



* Senior housing can feel like a lease up every year. Intensity of tracking results with constant pressure points. Make sure to regularly reward and recognize onsite teams. Help the onsite teams with ideas to keep the ball rolling. Spend time with the onsite teams individually. Onsite teams are looking for more and would like to learn about career paths. This is a good investment of a top leaders time and you can discover some creative ideas and maybe even innovation.* Get out in front of the business and set the teams up for success.



How to recruit and attract leaders



* Choose a Multifamily Management company that has a good track record for finding talent.* The owner needs to set the tone and be realistic what it will cost. Don’t just assume old assumptions by previous management companies.* Comparison to the Automotive Industry on importance to focus on the internal strategies of your company.



On-boarding employees in a growing company



* Owners need to be involved and play a part of what the vision is for the company, property and brand.* As Owners, stay involved throughout the employee experience.* Disney training is a great hospitality experience* Hiring fairs – 4-5 minute interviews following a customer service, product, brand presentation that allows you to watch and observe strengths.]]>
Patrick Antrim clean 59:23
Auditing Marketing Effectiveness with Mike Mueller https://multifamilyinnovation.com/auditing-marketing-effectiveness-with-mike-mueller/ Fri, 30 Jun 2017 04:06:16 +0000 https://multifamilyinnovation.com/?p=1366 https://multifamilyinnovation.com/auditing-marketing-effectiveness-with-mike-mueller/#respond https://multifamilyinnovation.com/auditing-marketing-effectiveness-with-mike-mueller/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership sits down in the Multifamily Leadership studio with Mike Mueller. Mike is the CEO of LeaseHawk and is no stranger to results or technology innovation. More than 20 years ago he envisioned leveraging the telephone by calling 258-RENT to access apartment [...] In this interview, Patrick Antrim, CEO of Multifamily Leadership sits down in the Multifamily Leadership studio with Mike Mueller.

Mike is the CEO of LeaseHawk and is no stranger to results or technology innovation. More than 20 years ago he envisioned leveraging the telephone by calling 258-RENT to access apartment information.

The idea quickly morphed into AllApartments.com one of the industry’s first Apartment Listing Services (ILS) which is now under Move.com, a subsidiary of News Corp., a public company. That led to the creation of VaultWare, the industry’s first online apartment reservation system, which was acquired by MRI.

All of these ground-breaking innovations helped move the industry forward to where it is today.

The original vision came full circle in 2012 when Mueller acquired a telephony platform from CallSource with the idea of creating a better customer experience by offering the cutting edge solutions found in other industries.

The LeaseHawk communications platform, which launched in May of 2015, is truly a game changer by melding telephony and customer relationship management into a mobile application. What makes it innovative is it’s fine tuned specifically for the apartment industry to measure, refine and improve the effectiveness of your marketing and your people.

Once again, Mueller’s vision combined with his seasoned management team will change the way you think about your business!

Download your FREE Telephone Performance Analysis

Show Notes:

  • Mike shares where he sees the industry today in the state of technology.
  • The leasing process and how people adapt to technology.
  • Change can be uncomfortable and the people driving the leasing process
  • Looking at change in other industries and how those changes will become reality in Multifamily
  • The shared economy and the next generation of renters
  • The mobile device and the trends on consumer behavior for the mobile strategy
  • What inspires Mike do innovate and his passion to utilize technology to solve industry problems
  • Backstory of ACE

The way renters want to communicate.

  • Capture prospect leads and answer quickly and efficiently as possible.
  • A conversational assistant is introduced – ACE “Answers Calls Everytime”
  • Consumers want consistency and experience with “Tap to Talk”

The 10 things renters call about

  • Leasing apartments compared to banking, airlines, hotel industries
  • First mover and the timing of the market
  • Key to understand on how to create an experience
  • Live call to Leasehawk’s ACE conversational voice assistant
  • ACE tells a joke!!!
  • Launching a product in Multifamily is about getting the adoption as change is resisted
  • Early adopters are the tough clients to find.
  • Mike shares his team success, how they are solving client pain points, and the real customer “the renter”
  • The Multifamily industry should invite trial and error
  • People are more patient on the phone after hours.
  • Brands that invest marketing efforts and offer compelling messages will need to do less convincing at the point of sale which leads to efficient conversion.
  • The Apple consistency of experience. Why are the renters any different?
  • How larger brands help people adapt to new technology. And like any product they evolve overtime.

Mike’s early beginning with RentFax and the evolution of how he cataloged rental listings across the web. How he got the band back together to build an online reservation system for Multifamily called “Check Availability” which is now “Tap to Call”

  • Mike sells Vaultware and uses the voice interface to help Multifamily companies improve the leasing experience with a conversational assistant.
  • The timing has been good but Mike made a lot of assumptions
  • The Multifamily Industry should reduce friction of renters doing business with companies.
  • Timing is everything and finding the right people is important
  • Technology looking for solutions and how platforms opened up opportunities

What Mike looks for when building a team

  • Mike’s early inspiring moments of vision and collapsing the gap of the current realities
  • How Mike overcomes resistance to new innovative technology
  • The disadvantage of Multifamily Success and it’s impact on innovation
  • How you manage the relationship with the resident and the lifecycle, resident journey
  • Artificial Intelligence, machine learning to score conversations with the ability to predict demand side of the business elevating the priority of leads
  • Combining everything people say and do with information that is available online
  • How Mike thought about things when he was growing up
  • Mindset and where to get inspiration for leading in the future.
  • The possibility that leasing agents could be a thing of the past
  • The experience for owning and leasing apartments will change

Autonomous driving cars and how it impacts the Multifamily Industry

  • How we could potentially revalue multifamily apartments in the future with the repurpose of parking areas
  • How Mike gets inspired outside the industry.
  • Amazon, the purchase of Whole Foods and how it will impact the grocery industry

A business needs to reduce the friction for doing business. Faster and easier with the least amount of clicks to get to what you want.

  • Timing is everything. Sometimes it takes a leader like Amazon to change the way we think about things like grocery delivery
  • We need more big thinkers in Multifamily to envision what the leasing experience could be
  • HawkEye is a Business Intelligence tool that is the last piece of the communication platform

A BI tool or Business Intelligence tool should allow you to easily get to the information that is actionable.

  • A large amount of property phone calls being tracked are not true leads.
  • How Multifamily Asset Managers, Investors and Owners can use the BI tool to get to the right information fast
  • The HawkEye product demo video
  • How to foster innovation in the Multifamily Apartment Industry

The consolidation of brands in the Multifamily Apartment Industry

  • The data the entrepreneur needs to create a new service is behind the property management system walls. Owners need to think about the impact on innovation
  • The Salesforce software company and Apple comparison of a platform model that has inspired significant innovation
  • The Autonomous vehicle vision and other possibilities to rethink the value of Multifamily properties
  • The trust factor and how that impacts adoption of innovation

CONNECT with LeaseHawk

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In this interview, Patrick Antrim, CEO of Multifamily Leadership sits down in the Multifamily Leadership studio with Mike Mueller. Mike is the CEO of LeaseHawk and is no stranger to results or technology innovation. In this interview, Patrick Antrim, CEO of Multifamily Leadership sits down in the Multifamily Leadership studio with Mike Mueller.



Mike is the CEO of LeaseHawk and is no stranger to results or technology innovation. More than 20 years ago he envisioned leveraging the telephone by calling 258-RENT to access apartment information.



The idea quickly morphed into AllApartments.com one of the industry’s first Apartment Listing Services (ILS) which is now under Move.com, a subsidiary of News Corp., a public company. That led to the creation of VaultWare, the industry’s first online apartment reservation system, which was acquired by MRI.



All of these ground-breaking innovations helped move the industry forward to where it is today.The original vision came full circle in 2012 when Mueller acquired a telephony platform from CallSource with the idea of creating a better customer experience by offering the cutting edge solutions found in other industries.



The LeaseHawk communications platform, which launched in May of 2015, is truly a game changer by melding telephony and customer relationship management into a mobile application. What makes it innovative is it’s fine tuned specifically for the apartment industry to measure, refine and improve the effectiveness of your marketing and your people.Once again, Mueller’s vision combined with his seasoned management team will change the way you think about your business!



Download your FREE Telephone Performance Analysis



Show Notes:



* Mike shares where he sees the industry today in the state of technology. * The leasing process and how people adapt to technology. * Change can be uncomfortable and the people driving the leasing process* Looking at change in other industries and how those changes will become reality in Multifamily* The shared economy and the next generation of renters* The mobile device and the trends on consumer behavior for the mobile strategy* What inspires Mike do innovate and his passion to utilize technology to solve industry problems* Backstory of ACE



The way renters want to communicate.



* Capture prospect leads and answer quickly and efficiently as possible. * A conversational assistant is introduced – ACE “Answers Calls Everytime”* Consumers want consistency and experience with “Tap to Talk”



The 10 things renters call about



* Leasing apartments compared to banking, airlines, hotel industries* First mover and the timing of the market* Key to understand on how to create an experience* Live call to Leasehawk’s ACE conversational voice assistant* ACE tells a joke!!!* Launching a product in Multifamily is about getting the adoption as change is resisted* Early adopters are the tough clients to find. * Mike shares his team success, how they are solving client pain points, and the real customer “the renter”* The Multifamily industry should invite trial and error* People are more patient on the phone after hours. * Brands that invest marketing efforts and offer compelling messages will need to do less convincing at the point of sale which leads to efficient conversion.* The Apple consistency of experience. Why are the renters any different?* How larger brands help people adapt to new technology. And like any product they evolve overtime.



Mike’s early beginning with RentFax and the evolution of how he cataloged rental listings across the web. How he got the band back together to build an online reservation system for Multifamily called “Check Availability” which is...]]>
Patrick Antrim clean 1:03:40
Happiness at Work https://multifamilyinnovation.com/happiness-at-work/ Fri, 09 Jun 2017 04:25:11 +0000 https://multifamilyinnovation.com/?p=1369 https://multifamilyinnovation.com/happiness-at-work/#respond https://multifamilyinnovation.com/happiness-at-work/feed/ 0 Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North America becoming on of the youngest Executive Coaches in the Robbins [...] Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North America becoming on of the youngest Executive Coaches in the Robbins Results Coaching Company.

He’s a straight shooting, passionate leader who went out on his own after seeing the client base swell to more than 5,000 professionals. His impressive client base reads like a “Who’s Who in Corporate America” with a list of corporate executives, professional athletes, celebrities and even teenagers seeking that next level.  Michael focuses on results and accountability. He appears on national and local media outlets like Fox News, CNN, Headline News to comment on topical issues.

In this show we discuss……

  • How to be happy at work
  • CNN survey poll if you had the opportunity to leave your current job…would you yes or no?
  • The mindset in the top percentage of income earners.
  • Be part of something bigger than you to do interesting things to support your growth and happiness. If you have the ability to grow outside of your daily work, big benefits are available to you.
  • How a school teacher who is passionate about Yoga has faced a big life decision on being happy, healthy and on point.
  • How to win where you are in your current job even without knowing your “passion” and how the quality of your life is directly tied to the questions you ask yourself.
    • What am I Excited about?
    • What do I love to do?
    • When am I most happy?
    • What brings me happiness?
    • When do I smile the most?
  • Explore something that makes you happy. Get involved with non profits, write that book.
  • What is the thing that gives you the most gratitude or makes you happy? Be accountable to yourself and ask the question…what makes you smile?
  • Make 20 bullet points of things you have done that make you happy. Who in your life do you have good positive experiences with? Spend more time with them.
  • The happy study- The Happy Movie which was a study that studied cultures on varying levels of happiness around the world.  
    • 50% of levels of happiness is genetic
    • 40% Conscience choice or what you choose
    • 10% General life circumstance, environment
    • We all come back to our genetic set point. Our ability to recover from setbacks is strong when we have a high set point. But we have a 40% choice to still improve the experience.
  • How our personal happiness impacts others and then returns an experience to us. How to move through challenging situations and careers.
    • Mike’s story about his Wife’s shift to a happy life and how her happy level has shifted upward.
  • If you are in sales and your environment you choose is not happy then you need to bring a different energy to the group so you show up completely different. This impact you and others and ultimately the business.
  • Work life balance discussion and some simple tips to create space in your life to increase levels of happiness.
  • Be honest with yourself. Don’t be someone you are not. Talk positively to yourself.
  • Develop common interests with people. We like the connection as one of the human needs.
  • Keep your mind occupied and active. Be honest with the activities that historically have put you in a positive mood.
  • The corporate executive who is committed and highly engaged on getting better professionally and how a sudden change can impact people and their needs.
  • How loss can impact people and their human needs.
  • Life events that are dramatic to people at work and how this impacts their need to be identified and connected.
  • The 6 human needs around work and the sudden change of job changes.
  • How sports organizations transition people out of professional sports.  
  • When change happens quickly, the mind is not prepared for it.
  • The mind and body are one. Mind equals body. You can have a great attitude with low physical response.
  • When the mind and body disconnect. Find out what can I do for my mind? What can I do for my body? How do I engage. Your happiness levels will shift, you’ll be more fun to be around and sets the tone with those you interact.  
  • Remind yourself as a conscience choice. Self talk is very important with 1,000 words per minute coming to you automatically. Get around good people, put your smartphone down. It’s not delivering positive news.
  • Team supervision as a Manager- People on the team that have life events or perhaps not engaged or low levels of happiness.
    • People need to motivate themselves
    • Ask people the right questions
    • Intrinsic questions should be asked getting them to see themselves past the current issues.
    • Encourage people to reach out to someone in their life. Don’t let the problem persist.
    • Mentors can help navigate issues or phases throughout life.
    • Encourage employees when they are going through something. Encourage them to reach out to someone in their life.
    • People believe they should keep work and life separate. Employees are Mom’s, Dad’s and contribute to your business. It’s neglecting to leave that alone.
  • The New York Yankees approach to mentor athletes and connect to other leaders.
    • Mentors spend the time with younger leaders
    • Invest with their teams
    • Get teams aligned
    • The Clete Boyer story of personal instruction to Patrick to keep things simple
    • The Nick Johnson story and the great hitting coaches with the New York Yankees
  • As a leader, you don’t need big pearls of wisdom or complex instruction
    • When was the last time you contributed to your staff to show appreciation?
    • It makes people happy when you contribute to others
  • The Mark Cuban and Dallas Mavericks story on meeting team needs.
  • People that are happy perform better financially and create a better resident and customer experience.
  • We talk about performance and preparing leaders for ultimate success.
    • Patrick shares story of his son’s upcoming speech. How he prepared him to be recognized by his peers.
  • The next level. How Mike helps people identify the gap to achieve the next level for high top leaders. High level leaders are good at what they do. Sometimes they don’t see the gap so we can help them visualize for best results.

Our Show Sponsor:

Sponsor link: http://www.audibletrial.com/multifamily

To learn more about Tony Robbins, check out his personal site here

#multifamily #MFLpodcast #MFLSummit #multifamily #employee #engagement #happinessatwork #leadership #leadershipsuccess #success #engagedemployees #workplacehappiness #improve #work #productivity #podcast #motivate #employees #HR #best #practices #develop #leaders #train #leaders #communication #work #balance #life #skills #results with #teams #happy #employees #happy #research

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Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North Ame... Mike Lindstrom is an Author, Keynote Speaker and Communication Expert who was trained early in life by Tony Robbins on Psychology of Influence. Under the Robbins organization, Mike worked as an Executive Coach for Fortune 500 Companies across North America becoming on of the youngest Executive Coaches in the Robbins Results Coaching Company.



He’s a straight shooting, passionate leader who went out on his own after seeing the client base swell to more than 5,000 professionals. His impressive client base reads like a “Who’s Who in Corporate America” with a list of corporate executives, professional athletes, celebrities and even teenagers seeking that next level.  Michael focuses on results and accountability. He appears on national and local media outlets like Fox News, CNN, Headline News to comment on topical issues.



In this show we discuss……



* How to be happy at work* CNN survey poll if you had the opportunity to leave your current job…would you yes or no?* The mindset in the top percentage of income earners.* Be part of something bigger than you to do interesting things to support your growth and happiness. If you have the ability to grow outside of your daily work, big benefits are available to you.* How a school teacher who is passionate about Yoga has faced a big life decision on being happy, healthy and on point.* How to win where you are in your current job even without knowing your “passion” and how the quality of your life is directly tied to the questions you ask yourself.
* What am I Excited about?* What do I love to do?* When am I most happy?* What brings me happiness?* When do I smile the most?
* Explore something that makes you happy. Get involved with non profits, write that book.* What is the thing that gives you the most gratitude or makes you happy? Be accountable to yourself and ask the question…what makes you smile?* Make 20 bullet points of things you have done that make you happy. Who in your life do you have good positive experiences with? Spend more time with them.* The happy study- The Happy Movie which was a study that studied cultures on varying levels of happiness around the world.  
* 50% of levels of happiness is genetic* 40% Conscience choice or what you choose* 10% General life circumstance, environment* We all come back to our genetic set point. Our ability to recover from setbacks is strong when we have a high set point. But we have a 40% choice to still improve the experience.
* How our personal happiness impacts others and then returns an experience to us. How to move through challenging situations and careers.
* Mike’s story about his Wife’s shift to a happy life and how her happy level has shifted upward.
* If you are in sales and your environment you choose is not happy then you need to bring a different energy to the group so you show up completely different. This impact you and others and ultimately the business.* Work life balance discussion and some simple tips to create space in your life to increase levels of happiness.* Be honest with yourself. Don’t be someone you are not. Talk positively to yourself.* Develop common interests with people. We like the connection as one of the human needs.* Keep your mind occupied and active. Be honest with the activities that historically have put you in a positive mood.* The corporate executive who is committed and highly engaged on getting better professionally and how a sudden change can impact people and their needs.* How loss can impact people and their human needs.* Life events that are dramatic to people at work and how this impacts their need to be identified and connected.* The 6 human needs around work and the sudden change of job changes.* How sports organizations transition people out of professional sports...]]>
Patrick Antrim clean 50:27
Monetize your Culture with Dennis Ford https://multifamilyinnovation.com/monetize-your-culture-with-dennis-ford/ Sat, 22 Apr 2017 03:52:00 +0000 https://multifamilyinnovation.com/?p=1357 https://multifamilyinnovation.com/monetize-your-culture-with-dennis-ford/#respond https://multifamilyinnovation.com/monetize-your-culture-with-dennis-ford/feed/ 0 In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Dennis Ford who is the Founder and President of Quantum Leap Productions, an  innovative and wildly creative corporate messaging company. With over 25 years experience crafting unique corporate messages, creating  entertaining and relevant videos, and producing myriad original [...] In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Dennis Ford who is the Founder and President of Quantum Leap Productions, an  innovative and wildly creative corporate messaging company. With over 25 years experience crafting unique corporate messages, creating  entertaining and relevant videos, and producing myriad original Team Building experiences for over 500,000 corporate employees and Senior  Management, he realized there was a common denominator that every  leader, in every company, talked about but, literally, not one addressed  effectively.

So, after digging into the guts of many Fortune 100 and 500 companies it became his quest to actually solve a problem that every company  faces…how to conceive, create, implement, and nurture a truly positive, effective, and joyful corporate culture. And even more important, how to create a truly profitable culture, one that contributes greatly to both productivity and bottom line revenues…at no cost to the company.

Dennis has written a book about creating a positive, and profitable culture, called “Monetize Your Culture: How to Create a Passionate,  Caring, and Committed Workforce That Actually Increases Your Bottom Line…and Costs You Nothing”. The book is due to be released on  September 10th, 2017.

In his first career, Dennis spent nearly 14 years with CB Richard Ellis, the largest commercial real estate brokerage in the world. After 7 years in sales, he became manager of the Phoenix, AZ office, leading it to #1 status among all CB Richard Ellis offices nationwide, 5 out of 7 years (at the time it was CB Commercial). He was named Senior Vice President, and was the #1 rated sales and negotiating trainer, company wide.

In this episode, we discuss:

  • How most corporate meetings run to understand what employees need to hear, understand, and act upon.
  • The challenge corporate trainers face in team meetings keeping audience members engaged.
  • Quantum Leap productions takes the same message and places the information into a medium that is compelling and memorable.
  • What do we go out of our way to see? We visit films, plays, love stories etc. Very few of us seek out speakers.
  • Most of the time corporate messages are too detailed.
  • Question to the Multifamily Executive – What is it you want people to do differently tomorrow that they did yesterday? What do you want them to think, feel, what do you want them to do that’s different?
  • The storyline is not about the marketing plan. The storyline is about the people in the room.

If it’s about me, you have my attention

  • Get people laughing about the very thing that might anger them.

You cannot be angry and laughing at the same time

  • It’s about the lives of the people in the room. Management’s message become the solution in the context of the story.
  • Management’s message needs to become real, relevant, memorable and compelling.
  • The genesis of what became Quantum Leap Productions 
  • People are talking about the meeting- If they are talking about it means they are present for the meeting which means they remember it and also means “Mission Accomplished”

Our brains don’t selectively decide what we remember

  • Don’t change the curriculum, wildly change the delivery.
  • Multifamily employee engagement research on corporate culture and communications.
  • The Monetize your culture book.
  • People talk about culture and don’t understand what it really is. Some miss the power of the relevance to the financial results.
  • The Multifamily Executive is the culture

Never in the history of ever has a sales plan or marketing plan had anything to do with culture

  • Some executives at the highest level have little idea of what their culture is. Many miss the opportunity and relevance to the bottom line.
  • Studies show that people that are happy, joyful, respected will place more into every single day that they work by double digits compared to the people that are disrespected, irrelevant, not appreciated in any way. Sometimes 15%-35% increase in effort. What would that do for your business?
  • Culture starts at the top.

Never in the history as ever, has the culture of a company, sports team, organization, started at the bottom. Cultures start at the top and work their way down in a series of expectations, feelings and behaviors.

  • People will stay at your company longer because they don’t want to leave a known happy culture.
  • Managers should not have ownership over employees.
  • The Office Space story
  • Every employee in every company has a choice everyday. What is my level of output going to be? What’s the difference between above and beyond and I won’t get fired today? What would happen if all of your employees gave you 15% more effort because they wanted to?

Work to create an intentional culture because it’s good for the bottom line

  • How did your culture become your culture? Take a series of steps to create an intentional culture. Start by taking it all in to understand what your current culture is. This is where we start. Then, what do we want to be? Define it. Then over a series of months, you create the culture you want. Open and passionate. Be patient with this process.
  • Get rid of behaviors that are producing unfavorable outcomes. Stay committed to the process and protect the new culture from people that’t don’t buy in.
  • The Southwest Airlines culture story

If you want to know if it’s a great place to work in Multifamily, you ask the people that work there.

  • The story- Everything I learned about business, I learned from waiting tables.

CONNECT with Dennis For

Linkedin: Dennis Ford

On the web: Quantum Leap Productions

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In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Dennis Ford who is the Founder and President of Quantum Leap Productions, an  innovative and wildly creative corporate messaging company. In this interview, Patrick Antrim, CEO of Multifamily Leadership shares time with Dennis Ford who is the Founder and President of Quantum Leap Productions, an  innovative and wildly creative corporate messaging company. With over 25 years experience crafting unique corporate messages, creating  entertaining and relevant videos, and producing myriad original Team Building experiences for over 500,000 corporate employees and Senior  Management, he realized there was a common denominator that every  leader, in every company, talked about but, literally, not one addressed  effectively.



So, after digging into the guts of many Fortune 100 and 500 companies it became his quest to actually solve a problem that every company  faces…how to conceive, create, implement, and nurture a truly positive, effective, and joyful corporate culture. And even more important, how to create a truly profitable culture, one that contributes greatly to both productivity and bottom line revenues…at no cost to the company.



Dennis has written a book about creating a positive, and profitable culture, called “Monetize Your Culture: How to Create a Passionate,  Caring, and Committed Workforce That Actually Increases Your Bottom Line…and Costs You Nothing”. The book is due to be released on  September 10th, 2017.



In his first career, Dennis spent nearly 14 years with CB Richard Ellis, the largest commercial real estate brokerage in the world. After 7 years in sales, he became manager of the Phoenix, AZ office, leading it to #1 status among all CB Richard Ellis offices nationwide, 5 out of 7 years (at the time it was CB Commercial). He was named Senior Vice President, and was the #1 rated sales and negotiating trainer, company wide.



In this episode, we discuss:



* How most corporate meetings run to understand what employees need to hear, understand, and act upon.* The challenge corporate trainers face in team meetings keeping audience members engaged.* Quantum Leap productions takes the same message and places the information into a medium that is compelling and memorable.* What do we go out of our way to see? We visit films, plays, love stories etc. Very few of us seek out speakers.* Most of the time corporate messages are too detailed.* Question to the Multifamily Executive – What is it you want people to do differently tomorrow that they did yesterday? What do you want them to think, feel, what do you want them to do that’s different?* The storyline is not about the marketing plan. The storyline is about the people in the room.



If it’s about me, you have my attention



* Get people laughing about the very thing that might anger them.



You cannot be angry and laughing at the same time



* It’s about the lives of the people in the room. Management’s message become the solution in the context of the story.* Management’s message needs to become real, relevant, memorable and compelling.* The genesis of what became Quantum Leap Productions * People are talking about the meeting- If they are talking about it means they are present for the meeting which means they remember it and also means “Mission Accomplished”



Our brains don’t selectively decide what we remember



* Don’t change the curriculum, wildly change the delivery.* Multifamily employee engagement research on corporate culture and communications.* The Monetize your culture book.* People talk about culture and don’t understand what it really is.]]>
Patrick Antrim clean 52:51