Hiring a real estate asset manager is a natural step for rental property investors as their property portfolio grows, but what if you have an asset manager in your company already? Today’s guest, Kristina Knight, knows a thing or two about being an asset manager in real estate, and there are multiple benefits. Kristina is the co-founder and CFO of Akras Capital. At Akras, Kristina focuses on deal underwriting and asset management of their portfolio.
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She hopes to share her story with the listeners in order to educate them on how to generate passive income and live the life of their dreams. In this episode, Kristina shares a bit about her journey and highlights the importance of staying organized and being detail-oriented, as well as some of the tools she uses to help her do so. We also discuss managing your property manager, some red flags to take note of, and the importance of mindset and Kristina tells us what she is passionate about and how we can get involved. Tune in today!
Key Points From This Episode:
- Kristina introduces herself and Akras Capital, as well as the role she plays there.
- How being an asset manager is also beneficial for Kristina’s career in real estate.
- What Kristina’s job looks like on a daily basis – staying organized and dealing with numbers.
- Managing the property manager – how Kristina stays on tops of things by communicating.
- The specific KPIs that Kristina and her team work on with the property manager.
- How Kristina stays organized using individual spreadsheets and an aggregate spreadsheet.
- The software and methods that Kristina uses for task management and scheduling.
- What makes a successful asset manager? Kristina says it’s being super detail-oriented.
- Kristina recommends a trial by fire – you can read a lot of books, but ultimately, asset management is a hands-on job.
- Some red flags – the biggest one is a lack of communication from your property manager.
- Pre-COVID, Kristina was on-site a lot more, especially when she first bought the property.
- How Kristina remains calm while running a really large portfolio – it’s all about mindset.
- Personal development courses helped Kristina to develop that mindset, as well as following The Miracle Morning.
- The hardest part of Kristina’s syndication journey has been getting her foot in the door.
- Kristina’s team is always prepared for a downturn through super conservative underwriting.
- Never underestimate vacancy! In a downturn, vacancies increase, and collections decrease.
- Hear about Kristina’s best source for meeting new investors recently, Lunchclub.
- Kristina attributes her success to mindset and her financial background.
- Kristina suggests finding people who can help you avoid a steep learning curve.
- Kristina is passionate about supporting and empowering women to take control of their finances and build wealth through real estate.
[bctt tweet=”I think you have to be super detail-oriented. I have a highly analytical background, so that’s really helped with the details, but then you also have to be very highly organized, because the more you grow and the bigger your portfolio gets, the crazier things get. If you’re not really organized, balls are going to start to drop.” — Kristina Knight” username=”whitney_sewell”]
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About Kristina Knight
Kristina Knight’s mission is to help people achieve freedom, breaking free from the constraints of money, time, and unfulfilling jobs. Before transitioning to full-time real estate investing in 2017, Kristina spent over a decade in the investment management industry, focused on the housing sector. She managed a $2 billion portfolio and strategy for high profile institutional clients. Her real estate investment career began when she took a year to travel the world and rented her home in Boston, generating passive income. She realized that if she could turn this side hustle into a real business, she could be free to travel, spend time with family, and live life to the fullest. After founding Akras Capital, she’s directed it to produce this same freedom for others. Kristina is also passionate about teaching other women how to make smart investment decisions and create freedom in life through real estate. She founded the Women Investing in Real Estate group, a female-focused investment community that is growing nationwide.
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