743: Multifamily 3rd Party Management Is Effective With Strategic Focus

3rd party property management can be notoriously difficult, but it can be successful if you manage it well. To make it work, you need detailed processes, actionable metrics, and weekly meetings that hold property managers accountable. Chris Lento, Founder and CEO of EM Capital, has been successful managing properties in other states by finding great property managers that execute on his business plans. Chris acquires mostly B Class multifamily properties across growing markets in the Southeast. Although these markets have been overbuilt, supply is being absorbed and rents will ultimately increase.