The Apartments Operators podcast

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Join Josh Appelman as he shares insights into revitalizing multifamily properties through strategic repositioning and hands-on management. Discover how his team targets distressed assets, implements extensive renovations, and achieves sustainable growth in competitive markets like Cincinnati and Dayton. From overcoming challenges with property management to enhancing tenant retention through superior service, Josh discusses the meticulous approach that propels his portfolio towards long-term success. 00:00 00:22 Introducing our guest: Josh Appelman 03:15 Self management or Third party management? 05:30 Finding the right people? 08:26 You've got to have competent people. 09:00 The importance of setting goals 11:21 Ways to increase income in multifamily 14:52 Pets, Pets, Pets! 16:19 It's crucial to constantly monitor your expenses! 23:43 It boils down to service 26:47 Confidence comes from competence 32:24 2025 Multifamily and economy Outlook 33:45 Taxes and Insurance - We're all hurting! 40:20 Advice to your younger self. Company: Appelman Capital Appelmancapital.com FB: Josh E. Appelman…

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Episode 138: Two full Cycles Perspective with Steven Weinstock - Apartments Operators Podcast 44:07

hace 1 year44:07

44:07

In this episode of the Apartments Operators Podcast, our hose, Joseph Gozlan, is joined by Steven Weinstock, a very experienced multifamily operator that brings a perspective of an investor/operator spanning across two full cycles! Steven owned anything from small 2-4 units properties to large apartment communities and shares his experience over the last couple of decades and his insights about where the market is going in 2024. 00:00 01:34 How Steven got started investing in real estate 02:50 Why Steven chose self manage 04:28 Setting up a Management Structure 07:12 Steven's approach to screening tenants 10:13 finding good people for your property 12:19 There's just no replacement for experience 16:36 Tenants Retention 32:40 2024 Market Outlook 35:36 Advice to my younger self 37:25 It's great to buy! 38:27 Real estate is better when you play a 15 years game! Company: We Capital Website: https://www.wecapitalx.com/ LinkedIn: Steven M. Weinstock…

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Episode 137: Finding a Hybrid Approach to Property Management with Aaron Ford - Apartments Operators Podcast 42:04

hace 2 years42:04

42:04

Aaron Ford joins the Apartments Operators Podcast to share with host Joseph Gozlan his hybrid approach between in-house processes and 3rd party management companies. Aaron owns about 250 units (with no partners!). All small properties under 50 units and managed to find an interesting balance between relying on a 3rd party management company and running all the management in-house. 00:00 00:48 Who is Aaron Ford? 03:59 Aaron's Hybrid Model Management 06:41 How the hybrid system works 11:28 What asset types Aaron prefers 16:24 Why only the top operators are going to survive the coming recession 17:03 It's a cycle 26:20 Why interest going down is not exactly the good sign everyone thinks it is 29:40 How to create a "community" for small properties 37:39 Advice to younger self 39:28 Advice to starters 41:13 Aaron's Contact information Website: securemultifamily.com…

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Why Every Large Multifamily Operator We Interviewed Chose to Self-Manage (APTOPR Special Episode) 37:29

hace 2 years37:29

37:29

Thanks to travel delays I missed my flight to NC and thus didn't get to present this on the 2023 MFINCon so I recorded it and put it out here for everyone that wanted to participate in my session. 01:05 Introduction 01:51 Joseph Gozlan of EBG 04:07 Hear directly from our expert guests 05:44 The Decision 09:01 The Challenge 14:39 The Horror Stories 19:41 The Math 24:02 Self-Management 25:19 The Current Market 29:28 Quick Tips! --------------------------------------------------------------------------------------------------- This is an episode of The Apartments Operators Podcast where you can learn from experienced operators what it really means to be apartment operators. No fluff, no sugar coating, just the raw unfiltered truth of the ups and downs of operating multifamily communities. Our host, Joseph Gozlan, is an experienced owner/operator and a multifamily broker living in Texas. We gathered a phenomenal group of operators for you that share not only the upside of a multifamily operator but also the downside, the challenges, and the surprises this business keeps coming up with. ------------------------SUBSCRIBE ---------------------------------------------------------- on iPhone: https://podcasts.apple.com/us/podcast/the-apartments-operators-podcast/id1519907176 on Android: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkLnBvZGJlYW4uY29tL2ViZy9mZWVkLnhtbA?sa=X&ved=0CAcQrrcFahcKEwiI2_OFn7P8AhUAAAAAHQAAAAAQCg ------------------------ LINKS ------------------------------------------------------------------ The Apartments Operators Podcast website: https://www.AptOpr.com All The Apartments Operators Podcast Episodes on YouTube: https://www.youtube.com/watch?v=YIZzxCrT_fY&list=PL5SEY4gVQHKJXfy70oeq7f5AGm_m5VOf1 Eureka Business Group: https://www.ebgtx.com EBG Creative:https://www.EBGCreative.com ------------------------------------------------------------------------------------------------------ Tags: #realestate, #realestateagent, #realestateadvice, #realestatepodcast, #realestatebrokerpodcast, #multifamily, #realestateinvestment ------------------------------------------------------------------------------------------------------ Please like, subscribe, and leave us a review!…

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Episode 136: From Educators to Multifamily Operators! with Ken and Rachel Wick - Apartments Operators Podcast 38:22

hace 2 years38:22

38:22

Ken and Rachel Wick join Joseph Gozlan, Host of the Apartments Operators Podcast, and share their journey from career educators to multifamily owners and operators! 00:00 00:39 The Wicks Background 03:49 How do you choose a third-party management company? 06:52 Treat your property management company as your quarterback 09:08 Thoughts about starting your own property management 17:17 How the Wick couple execute their value add plans 21:56 Introduce a residents benefits package 23:26 Knowing your property management skills and capabilities is another way to save costs 27:00 Resident Retention initiatives the Wicks like to embed in their communities 35:04 Advice to younger self Ken and Rachel Wick's details: Website: www.higherpointinvesting.com Email: contact@higherpointinvesting.com…

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Episode 135: It’s never too late to start investing in Multifamily! with Ed Modzel - Apartments Operators Podcast 44:29

hace 2 years44:29

44:29

Joining Joseph Gozlan, host of the Apartments Operators Podcast, Ed Modzel shares how he started his multifamily journey when he turned 60(!) showing that it's really never too late to start investing in multifamily. 00:00 08:25 Ed's Process of Hiring a Property Management Company 10:09 Why you really shouldn't move to the property you're managing! 11:40 The most successful properties that we have are ones that we self-manage 12:59 Self-Management saved us from the COVID downfall 15:59 Before you hire a manager, you should make sure that they buy into your business plan 18:52 How does Ed work with his management team 20:03 The magic of using charts 41:35 Advice to younger self Ed Modzel's website: https://www.gimmeshelterequity.com/…

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Episode 134: From Active Duty to Thousands of Units! with Eric Upchurch - Apartments Operators Podcast 42:31

hace 2 years42:31

42:31

Eric Upchurch joins host Joseph Gozlan on the Apartments Operators Podcast to share his journey from enlisted to owning & controlling a large portfolio of apartments! Eric started his real estate investing while being on Active Duty and has since created an organization dedicated to educating Active Duty members of the armed forces about the benefits of investing in real estate and helping them get started while still on active duty! 00:00 00:39 How Eric got started with real estate 02:37 Becoming an accidental landlord 04:14 We always use third party management 04:30 When hiring a new 3rd party management company, its always good to cross-reference 05:25 never hire a part-time realtor as your property manager 06:08 you want a property management that manages the same asset class that you are buying 12:27 Pro tip: Check the reviews of the community you're buying!! 20:59 There's money in everything, even in the garbage! 40:14 Advice to younger self militaryrealestateinvesting.com activedutypassiveincome.com ericupchurch.com IG: real Eric Upchurch…

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Episode 133: Surviving California & helping small owners implement RUBS with Tiffany Mittal - Apartments Operators Podcast 35:38

hace 3 years35:38

35:38

Tiffany Mittal joins Joseph Gozlan on the Apartments operators podcast to share her multifamily journey. From running section 8 properties in California to the realization that they need to move away to landlord-friendly Florida where they teamed up with Grant Cardon to develop an easier way for small multifamily operators to implement RUBs using their proprietary software called Utility Ranger. 00:00 04:42 Managing section 8 properties 05:21 Not all Section 8 tenants are equal 09:37 When selecting a 3rd party management company, look for one whose majority of their managed portfolio is similar to yours. 10:52 You must have control of the day-to-day operations 13:17 How to not leave a bunch of money on the table 26:01 Fixed utilities Fees Cons vs Pros 27:14 RUBS formula is NOT so easy 35:07 Advice to younger self Tiffany Mittal's website: https://utilityranger.com/ Episode 133 Show Notes:…

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Episode 132: From Value-Add Multifamily to Hotel Conversions and New Construction with James Kandasamy - Apartments Operators Podcast 57:03

hace 3 years57:03

57:03

James Kandasamy Joins host Joseph Gozlan on the Apartments Operators Podcast to share his multifamily Journey. James has syndicated, purchased, and sold thousands of units, self-managing from day one(!). James shares the benefits and challenges that come with self-managing thousands of units and why he chose to do a hotel conversion (spoiler: he made a LOT more money than conventional multifamily value-add) and why he now does a ground-up new construction of a large-scale multifamily community. 00:00 00:57 Getting started 02:14 we started self-management from day one! 05:53 Pro-Tip: looking for contractors in Craig's List 08:03 Why we stopped using GCs 10:31 It's really hard to get it right in the beginning 17:25 We want to take the management upside first 18:12 Renovating 101: kitchen & bathrooms are always the highest priority 20:54 Fixed fee utilities vs. RUBS. 25:11 Finding the right people 26:58 Expecting your team to operate at a standard that is much higher than the pay grade. 28:40 Only the top operators will survive the next few years! 31:00 we're gonna see some interesting buying opportunities coming up in the next couple of years 41:10 Hiring tip: passion and ownership are more important than knowledge. 44:55 new development is the ultimate game in real estate 50:58 Advice to young self: get out of your network! achieveinvestmentgroup.com passiveinvestinginrealestate.com…

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Episode 131: Fireman turned to Operator with Seth Teagle - Apartments Operators Podcast 38:02

hace 3 years38:02

38:02

Description: 00:40 Start of the Journey 01:33 Pay check is just not enough 05:01 They're doing a lot of surgical work with a spoon 05:59 the biggest challenges in the industry when it comes to third party property management 07:32 There's big disconnect between third party management companies and people that are buying value 08:48 The only thing that goes in favor of the bigger companies 09:10 we're operators, we're owners, we're investors. 13:47 field team and office team 16:17 It starts to get convoluted. 16:43 it's a whole nother thing to actually be successful at it 20:32 we try to swim in the same direction as the municipalities because of it. 21:10 even if it's not broke right now, We fix it 23:47 invest the CapEx upfront 28:44 what advice do you give your younger self? 30:32 scaling too quickly can kill you 31:22 2023 Outlook…

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Episode 130: Active Duty Navy Operating over $100MM Multifamily Portfolio with Jonathan New - Apartments Operators Podcast 30:27

hace 3 years30:27

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Jonathan New is an active duty Navy personnel and still managed to grow his multifamily portfolio with his partners to over 700 units! Jonathan joins Joseph Gozlan, host of the Apartments Operators podcast to discuss how their team operates multiple multifamily properties across multiple states and dealing with multiple different third-party property managers. 00:00 Intro03:22 We use third party management everywhere! 04:51 It's just all about networking! 05:50 Others might have the right fit, we've got fit AND fill. 07:38 Picking a third party property management is like dating. 10:02 An operator should know and talk with everybody that they employ 10:33 identify the specific KPIs 12:51 Lessons learned the hard way - Chiller Systems 16:55 Third party property management in today's world are a little bit behind on technology 20:04 adapt or die 21:40 Exploring Creative financing as a way to make deals work in this market 23:15 You have to fight the property taxes assessments every year! 23:47 Why Jonathan believes that rents are still going to go up 2023 25:28 It's not just an apartment, not just a unit. It's a home 28:21 Advice to younger self: Bypass the residential real estate and just go straight into commercial…

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Episode 129: Increasing NOI by negotiations with utilities companies with Kevin Gardner - Apartments Operators Podcast 25:38

hace 3 years25:38

25:38

Episode 129: Increasing NOI by negotiations with utilities companies with Kevin Gardner - Apartments Operators Podcast In this episode of The Apartments Operators Podcast Joseph Gozlan is hosting Kevin Gardner. Kevin is providing a service many apartment operators haven't heard about: negotiating access agreements with utility providers like internet and cable! Watch through to see how Kevin's method can help increase your income through one-time payments and ongoing revenue share! 00:00 02:02 opportunity to bring in an increased revenue 04:05 Dallas has granted a non-exclusive agreement 05:07 negotiate with them and get compensation for you 06:02 There are two types of compensation 08:54 Exclusive marketing arrangement. 10:57 A bulk agreement 17:53 It has to be a deregulated market 20:45 Dangerous contracts 21:16 it comes down to new customers. 23:00 when do I engage you? And I would say it's never too early! 23:51 our goals and yours are a hundred percent aligned. 24:48 We educate people on their exact portfolio…

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Episode 128: Stepping Up to Institutional Grade Multifamily with Shane Carter - Apartments Operators Podcast 37:53

hace 3 years37:53

37:53

Shane Carter joins Joseph Gozlan on the Apartments Operators Podcast to share his over 25 years journey from buying small 4plex and 6plex properties to buying large institutional grade multifamily. Shane shares the challenges along the journey and his plans to create his own property management company in the near future. Episode 128: Stepping Up to Institutional Grade Multifamily with Shane Carter - Apartments Operators Podcast 00:00 06:12 there's no right way to make a third party property management 25:10 your biggest bang for the buck in terms of reducing expenses 25:56 it's less about trimming and more about redundancy 30:52 The right type of debt in this environment coupled with the right type of asset 31:25 2023 is gonna show us some opportunities 34:24 I didn't think big enough, fast enough 35:27 finding the right partners and the right people to align yourselves with 36:00 it has to be a personality fit.…

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Episode 127: Zero to over 90 units while still working a W2 with Steven Nguyen - The Apartments Operators Podcast 41:26

hace 3 years41:26

41:26

Joseph Gozlan hosts Steven Nguyen on the Apartments Operators Podcast Episode 127 to discuss how Steven grew his portfolio to over 90 units on his own with no partners and while still having a busy W2 job! Steven shares his insights and honestly admits some of the regrets he has from the journey. Episode 127: Zero to over 90 units while still working a W2 with Steven Nguyen 01:42 House Hacking: I lived in the master bedroom and I had to rent out the other 04:21 There is good debt, bad debt, and really bad debt. 05:04 There's a famous video of Warren Buffett 06:53 the value of apartments is based on the net operating income 10:08 Oklahoma City? It's not a sexy market. 11:02 choose a market first and then try to scramble to find a property manager. 11:49 when you interview 20 property managers, it does one or two things. 17:11 my job is to remove those barriers as fast as possible 17:47 don't worry about committing for too long 22:18 simplicity scales, fancy fails. 24:31 shiny object syndrome 26:15 there's always somebody that represents you 30:42 It was always by the unit. 31:32 That's why I said it's better to be great at one asset class versus be okay at two or three. 32:29 make sure that your property managers give you at least three bids for every project 36:44 get started in real estate earlier 37:36 focus on the process, not the outcome 38:40 writing large checks every month has a psychological burden 39:16 happy medium in the middle where that's a sweet spot…

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Episode 126: Deep Dive into Mobile Home Parks Management with Derek Vickers - The Apartments Operators Podcast 44:29

hace 3 years44:29