Today we get to hear from Amy Tiemann, a real estate syndicator who also owns and manages apartment complexes. Being both a property manager and multifamily investor, Amy has a rare advantage when it comes to asset management. For her, it is imperative to first gain experience as a property manager before you can truly be great at asset management. In this episode, Amy talks about the pros and cons of being vertically integrated, the importance of hiring for company culture fit, and why she believes in employing cross-functional team members rather than ones who are skilled at only a single role. She also advises on retaining your best workers and making data-driven decisions. Be sure to listen in!
Key Points From This Episode:
- What Amy does and the areas she is currently focused on.
- The advantages and disadvantages of being vertically integrated.
- Hear how Amy goes about building her teams around her company culture philosophy.
- How their team collaborates cross-functionally and why it is beneficial to all the parties.
- Why Amy would rather hire someone with a broader skillset than just a leasing agent.
- The importance of paying people well and giving them a purpose if you want to retain them.
- How property management and investing in multifamily makes her a better asset manager.
- Amy shares her two asset managers superpowers, including interpreting the data!
Tweetables:
“When you’re looking at, from asset management to property management, there are so many things that then overlap. Being the property manager on a property and also being the asset manager, allows you to really get in-depth and really understand the operations of what everything is going on in that property.” — @amybethtiemann [0:01:30]
“But I would much rather have somebody with a higher skillset of project management that I could teach the leasing to because they’re going to get it.” — @amybethtiemann [0:06:40]
Links Mentioned in Today’s Episode:
Passive Income Through Multifamily Real Estate Facebook Group