Wayne Courreges IIIManaging Principal, CREI Partners, CREI Partners, CREI Partners, LLC · Disciplined Passive Real Estate. Transparent Leadership.

CRE Investing: One or Multiple Property Managers?

Name: CRE Investing: One or Multiple Property Managers?
Uploaded: 2024-04-06T00:01:41+00:00
Duration: 45 s
Channel: Wayne Courreges III
Description: Speaker (Wayne Courreges III, CPM®) advocates using one primary management company for lead-sponsored commercial-multifamily assets—especially smaller…

6 Apr 2024 · 1 min

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Speaker (Wayne Courreges III, CPM®) advocates using one primary management company for lead-sponsored commercial-multifamily assets—especially smaller portfolios—arguing this builds leverage, allows clearer division between property management and maintenance, and secures stronger regional support; he cites an example of being under contract for a 44-unit property.

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Yeah. So the, the ones that we are lead sponsors on, we have one primary management company. And the reason I like doing that is it gives you more clout and more leverage, especially on properties that have smaller unit count. For example, where we have, we're under contract for 44 units. And you know, if you just had 44 units with one management company, it you and that's okay to start with, but it's just over time, you build up a number account where, you know, again, you're able to have the split focus between the management and the maintenance on site. But then you also have more regional support because you are, you know, becoming more tight end, loyal type customer.