3rd Party Asset Management with Mike Taravella

Key Takeaways: - Hiring a third party asset manager can allow an owner to take a step back from day-to-day operations and focus on other goals or investments - An asset manager acts as the CEO to oversee finances and hold the property manager accountable - It makes sense to consider an asset manager once a portfolio grows to around 100-200 units - When onboarding a new asset, an asset manager will evaluate financials, goals, timelines, team members, and identify any issues or opportunities - Turning around an underperforming property requires fixing maintenance issues, improving marketing, addressing tenant complaints, and ensuring the property manager is actually completing tasks https://www.tylercauble.com/podcast/episode181