Nowadays, there is much technology available to make your business efficient and effective. In today’s #Highlights episode, we look back at our conversations with entrepreneurs Corinn Altomare and Dylan Marma as they share the technology they leverage for their real estate business.
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Corinn talks about the two of the foremost software platforms she relies on – Propertyware and ShowMojo, she said that not only do these systems optimize work time, but also provide her with peace of mind. Meanwhile, Dylan shares some of the project management, email management, customer relationship management, property management, storage, and deal management software that he has in his tech stack, and how he uses them to boost the performance of his business. Tune in now and find out what tech you can use today for your business needs!
Key Points From This Episode:
- Find out more about Corinn’s background and her transition into the syndication space.
- How Corinn’s music and project management skillsets helped her flourish in syndication.
- The mindset shift that happened for Corinn to feel confident pursuing real estate full-time.
- Learn more about the tech Corinn invested in and leveraged to help her operation scale.
- Insights into Propertyware and ShowMojo, two systems Corinn relies on heavily in the business.
- Dylan explains how he stays organized in the real estate business, using technology stacks.
- The importance of staying fluid as technology changes and then relearning new software.
- Project management software is key, with Asana being the lead one and Dylan’s favorite.
- Next is email management software, some favorites being ActiveCampaign and Mailchimp.
- Dylan recommends using a customer relationship management (CRM) tool, like Airtable.
- While one software can’t do everything, there is software that can connect the different platforms you use, like Zapier.
- There are a number of easy-to-use, third-party property management tools to choose from.
- Custom-built deal management software like Podio helps you automate and track workflows.
- While monday.com is better for building a database, but Asana is better for task management.
“Once I got into real estate and started learning about what you could do not only to provide tenants a fantastic place to live but as we got into syndicating, being able to provide investors a source of financial windfall and growth for themselves and their families, that’s what really hooked me in, what you’re able to do with syndicating larger projects and including in other investors in your endeavors.” – Corinn Altomare
“I just loved putting together project plans and acting on those plans, building in dependencies, building in your contingencies so you know, whatever scenario might come up, you’re prepared for it.” – Corinn Altomare
“We invested very early on in a full property management system.” – Corinn Altomare
“A few of the key ones that you’ll want to think about having in place for yourself, number one is project management software.” – Dylan Marma
“Having good email management software with good practices in place is helpful.” – Dylan Marma
Links Mentioned in Today’s Episode:
About Corinn Altomare
Corinn Altomare is a classically trained musician turned real estate investor. During her professional career as an opera singer, she performed a diverse range of repertoire spanning the Baroque period to contemporary, from pop-up locations in city centers to reverent chapels nestled within the European countryside. After 13 years as a vagabond musician, however, Corinn was ready for a new challenge. She found this – ultimately – in real estate. Corinn comes from entrepreneurial parents – her mother founded and ran a Montessori preschool; her father is a family and financial planning law practice. Her youngest childhood memories are of accompanying them on daily operations. This early exposure served Corinn well as she pivoted to the realm of IT project management for 5 years. This time was marked by continual growth, training, and development in a world completely different from her previous artistic and entrepreneurial ones. Corinn’s next career shift was into real estate investing. As an individual investor, she acquired a triplex in the Francisville neighborhood of Philadelphia. This purchase was followed closely by multiple others within a few very busy years, acquired through syndication with – at first – close friends and family. She jumped into her new roles of owner and property manager across a quickly-growing portfolio. She started her company, Hearthfire Holdings, with her now-husband and business partner. While only dating at the time, after navigating a few investment property purchases, landlord, and hands-on repairs and maintenance together, they knew a formal partnership – in life and business – was in order. Hearthfire Holdings made a strategic pivot into self-storage after 7 years in residential real estate. This decision was made largely upon the assessment of an overheated, overextended market high, and the recognition of an inevitable downward correction. This move turned out to be made just in time, given the impact of COVID-19 on our global economy in 1Q2020. Pre-planning for this shift started in 2017, and Hearthfire Holdings sold off smaller syndications 4Q2018-1Q2019, delivering investor returns of 23-24% IRR. Funds from these sales were consolidated into a successful acquisition of a 35,000 NRSQFT self-storage facility in Lancaster County, PA, in 3Q2019. Hearthfire Holdings maintains a portfolio of commercial and residential multifamily properties in the Philadelphia MSA, which with their self-storage facility represents a total portfolio valuing $9M.
About Dylan Marma
Beginning his real estate investing career in 2015, Dylan Marma climbed the ranks to become the youngest Director of Sales in one of the nation’s premier real estate investing education companies. Experienced in leadership and public speaking, Dylan founded the corporate Toastmasters group for a said education company in San Diego. He also manages a large real estate networking community to teach others how to invest in multifamily real estate. In 2018, Dylan relocated to the South-East to pursue the potential he recognized in the market and shortly after took on the lead role of Acquisitions & Investor Relations with Rand Partners LLC.
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