Real estate asset management is essential to successful real estate investing. Most real estate investors do at least a minimal amount of asset management themselves, but larger entities and experienced investors may enlist an asset manager to handle their investment portfolios. Today, we’re talking to an investor and asset manager who has a very hands-on approach in his real estate business. Hadar Orkibi is an international, commercial real estate investor with a focus on multifamily.
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He is also an asset manager with MFI Holding and a co-facilitator and coach with Make It Happen Mastermind Group. He has been investing in Real Estate for over a decade, specializing in long-distance, out-of-state investing. Starting out as a Licensed Real Estate agent in Israel before Immigrating to New Zealand in 2003, Hadar’s portfolio now includes multifamily apartments and commercial real estate in both New Zealand and the United States. In this episode, Hadar describes his role as an asset manager, how he does it at a distance, and how he holds his third-party property managers accountable. He also shares some of the tools he uses to make tasks easier to manage, and explains how COVID has been beneficial for his business. Tune in today to find out more!
Key Points From This Episode:
- Hadar introduces himself, his business in New Zealand, and his superpower in the business.
- Asset management at a distance and holding his third-party property manager accountable.
- As asset manager, Hadar also makes sure contract services are accountable and on budget.
- Another crucial task is keeping the unit turns and capital expenditure budget on track.
- Coordinating relationships with contractors and coordinating the work as it needs to be done.
- Communicating with his team from a distance – Hadar finds that simple tools like email and WhatsApp are most effective.
- The benefit of using WhatsApp is that is fully functional, even if you are in another country.
- The challenge of ensuring the property management team knows how to use pet addendums.
- Hadar is looking to solve the challenge of having relevant documents available in one place.
- It is important to utilize the help available to us – Hadar asserts we can’t do it all ourselves.
- Asset managers must transfer utilities, monitor lease renewals, know the marketing strategy.
- How Facebook Marketplace has been a game-changer for Hadar and his property managers.
- How COVID has streamlined the tenant turnover time by making document signing digital.
- Hadar explains what makes a good asset manager – from analytics to good communication.
- An improvement to Hadar’s business through clear and concise systems.
- Hadar attributes his success to persistence, focus, and avoid shiny object syndrome.
- How Hadar likes to give back by helping to educate people, both in and outside of the mastermind.
[bctt tweet=”Our work as an asset manager is pretty much to keep the third-party property manager accountable. In my case, I use a third-party property manager and I really need to monitor that they are following the vision that we have for the property. — Hadar Orkibi” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Hadar Orkibi
Hadar Orkibi is the Principle at MFIHolding.com, a US Citizen, a full-time real estate investor, and an asset manager of a passive income portfolio. Hadar been Investing in Real Estate for over a decade, specializing in long-distance, out-of-state investing. Started as a Licensed Real Estate agent in Israel before Immigrating to New Zealand in 2003. Hadar’s portfolio includes Multi-Family apartments, and Commercial Triple Net Leases Real Estate in NZ and the United States. In the US with MFIHolding.com, Hadar is focused on Multi-Family Apartment Buildings that have value-add upside potential. Over the years Hadar implemented different strategies which includes wholesaling, house flipping, subdivision, new construction, commercial real estate, joint ventures, and multifamily investing. Hadar enjoys helping both seasoned real estate investors and those new to real estate investing reach their wealth, income, and portfolio goals through multifamily real estate investing Hadar loves real estate investing and the freedom it creates.
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