MB 272: Best Practices for Multifamily Asset Management – With Kyle Mitchell

<p><span style="font-weight: 400;">Asset management may not be as sexy as raising money or chasing deals. But it’s the aspect of multifamily investing that makes a deal successful—or not. So, what’s involved in the operation of an apartment building? And how can an asset manager work with their property management team to solve problems together?</span></p> <p><span style="font-weight: 400;">Kyle Mitchell is the cofounder of</span> <a href="https://www.assetmanagementmastery.com/" target= "_blank" rel="noopener"><span style="font-weight: 400;">Asset Management Mastery</span></a><span style="font-weight: 400;">, a platform designed to help multifamily investors become best-in-class operators. Kyle owns and operates a portfolio of 400 units worth $400M in Tucson and Phoenix, Arizona. He is also the coauthor of</span> <a href= "https://www.amazon.com/Best-Class-Multifamily-Mistakes-through/dp/1544520891/" target="_blank" rel="noopener"><em><span style= "font-weight: 400;">Best in Class: How to Manage Your Multifamily Asset, Avoid Mistakes and Build Wealth Through Real Estate</span></em></a> <span style="font-weight: 400;">and serves as a</span> <a href="https://themichaelblank.com/mentor/" target= "_blank" rel="noopener"><span style="font-weight: 400;">mentor with The Michael Blank organization</span></a><span style= "font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">On this episode of Apartment Building Investing, Kyle joins cohost Garrett Lynch and me to discuss the role of a multifamily asset manager, explaining how he conducts monthly secret shopper audits and what KPIs he tracks on a regular basis. Kyle describes what attracted him to the asset management side of the business, discussing how he partners with the property management team to get the best out of a property. Listen in for Kyle’s hands-on approach to renovation management and find out how he is navigating material and labor shortages in the aftermath of the pandemic.</span></p> <h3>Key Takeaways<span style="font-weight: 400;"> </spa