From Value-Add Multifamily to Hotel Conversions and New Construction w/ James Kandasamy Ep132 APTOPR

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!

James Kandasamy's website: https://achieveinvestmentgroup.com/
Episode 132 Show Notes:
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Tags: Tags: #realestate, #realestatebroker, #realestateagent, #realestateadvice, #independentbroker, #agenttobroker, #realestatepodcast, #realestatebrokerpodcast
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This is an episode of The Apartments Operators Podcast where you can learn from experienced operators what it really means to be apartment operator.
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.
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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
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