In today’s world of convenience, technology has accelerated our demand for immediate gratification. Efficiency is key in this fast-paced culture, especially as business operators. Leveraging technologies, as a real investor, can definitely improve your customer or resident experience, improve your employee’s efficiency, and even reduce some of your operating expenses.
Our guest on today’s episode is Kent Ritter, an entrepreneur, multifamily real estate investor, and Managing Director at Birge & Held Asset Management, a multifamily private equity firm with over $1.4 billion in assets under management. He also serves as a thought leader and educator through his podcast, Ritter on Real Estate. Through his experience at Birge & Held, Kent believes in maximizing your efficiency as operators to improve the resident experience and management operations by utilizing PropTech. Allowing the management team to focus on building communities rather than focusing on cumbersome tasks through the use of these technologies is what sets his operations apart.
In this episode, we cover:
Gaining access and building relationships through passive investing
Economies of scale from the enterprise level vs the property level
Maximizing the best use of your time using Prop Tech
How Prop Tech improves the resident experience
Strategies to implement when utilizing Prop Tech
Kent addresses each of these pressing topics and so much more in this knowledge-packed episode! Tune in today to learn how Prop Tech can make you a better business operator!
The Final Four:
1. What do you do for your continued education to further your investing?
Kent: “I devour podcasts and every book out there. My education has shifted from the blocking and tackling of multifamily, understanding the basics, to learning about the macro level of multifamily, meaning the economics, market behaviors, and forecasting. My education is expanding but my focus changes over time.”
2. What have been the lasting lessons you've learned along your journey?
Kent: “Communication is key. Improve through iteration. Don’t strive to be perfect right off the bat. Be vulnerable enough to put yourself out there, flaws and all. I’ve had so many firsts in the last year, which means I’m not doing everything perfectly. Interviewing guests through my podcast is also a very valuable resource for learning.”
3. What advice would you give to the listeners to help them grow their businesses?
Kent: “Networking constantly is so important. Your network can never be big enough. Getting a mentor and developing that relationship is a life-changing experience. You never know that one connection that will change your life.”
4. How can the listeners learn more about and connect with you?
Kent: “Visit my website, connect with me on LinkedIn, follow me on Instagram, and listen to my podcast!”
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