Episode description

Greg Butcher is an experienced investor in real estate, specializing in multifamily properties. He began his real estate journey by investing in single-family homes, but after discovering the potential of multifamily real estate and syndications, he decided to expand his knowledge and investment strategy. Nine years ago, Greg joined a multifamily mentoring and educational program, just as he was retiring from active duty. During his first year in the program, he invested as a passive limited partner to learn the ins and outs of underwriting. In 2016, Greg took on a role as a general partner and successfully closed his first deal. With his expertise and dedication to the real estate industry, Greg continues to thrive as an investor in the multifamily market.

Connect with Greg Butcher: https://bit.ly/kpichecklist

Introduction and Background

• Greg Butcher's background and how he got into multifamily investing
• Lessons learned from being a marine and applying them to real estate investing

Tips for Veterans Transitioning to Real Estate Investing

• Balancing a job with real estate investing
• Importance of networking and surrounding oneself with knowledgeable individuals
• Starting small vs. jumping into multifamily investing

Importance of Asset Management in Multifamily Real Estate

• Lack of focus on asset management in education programs
• The significance of asset management in today's economy
• Greg's motivation for creating KPI checklists for asset management

KPIs for Multifamily Asset Management

• Marketing and leasing KPIs: identifying marketing channels, lead flow, cost per lead and cost per lease signed
• Importance of managing ratios to improve effectiveness
• Market-specific KPIs and the impact of market conditions

Managing Property Managers Effectively

• Questions to ask when hiring a property management company
• Importance of building a good relationship with property managers
• Effect of property management company size on support and effectiveness

Lessons Learned from Syndication

• Importance of finding the right partners
• Lessons learned in tackling one's first syndication
• Balancing realistic projections and preserving investor trust

Dealing with Challenges in Real Estate Investing

• Impact of rising interest rates on floating rate debt properties
• Handling unforeseen events such as the COVID-19 pandemic
• Stress testing and mitigating risks in real estate investments

Greg's Experience in Syndication

• Number of properties syndicated and current assets under management
• Performance of fixed rate debt deals vs. floating rate debt deals

Personal Recommendations and Tools

• Book recommendation: "Best in Class" by Gary Lipsky and Kyle Mitchell
• Essential tool: Excel for financial analysis and performance tracking

Advice for Real Estate Investors

• Start now and don't delay
• Consider entering syndication in commercial real estate
• Exploring other asset classes such as self-storage

Closing Thoughts and Additional Concepts

• Key factors to consider for effective asset management: manager, meetings, measurement, cash and financial management, construction management, and community
• Importance of fostering a sense of community for profitability and tenant...