The Truth About Asset Management with Ben Suttles

Ben has been an entrepreneur for 15 years, first starting his career in IT sales and business development then onto management. His background in management and sales has helped propel him into commercial real estate in 2013. Over the last 8 years, he has been involved in the acquisition & asset management of large multifamily properties totaling over $200MM+ in AUM and the purchase and sale of over 2500+ units.

For today’s episode we will cover: 

[00:00 - 5:18] Opening Segment.

• Getting to know Ben.
• The journey from sales to Real Estate.

[5:18 - 10:35] The important lessons Covid taught. 

• How to not get affected by potential future lockdowns. 
• Areas that Real Estate is booming.
• Why the work from home should be your short term market goal.

[10:35 - 21:51] Creative ways to get more income.

• Being comfortable with stretching to get more deals.
• You’re not doing anything wrong but you still lose.
• Sacrifices to get more money out of a deal.
• Income vs expenses
• You vs bigger institutions 
• How to save in utilities

[21:51 - 27:45] The money is made in the operations.

• Looking at the person first before the market.
• Making sure that you start off strong.
• Spending more time with your investor.
• Keep pushing to get as much income as possible.

 [27:45 - 32:40] The good, the bad, and the ugly of asset management.

• Why asset management is where everything gets connected.
• Why you shouldn’t get distracted by flashy numbers.
• Asset management and investor relations.
• How to go and buy any deal that you want.
• Making the acquisition process easier.

[32:40 - 38:40] How long it takes to recover because of a small mistake.

• Always be proactive.
• Why college won't teach you to be an asset manager.  
• Why having a method will get you the most money for the least amount of time.
• Asset management is just a numbers game.

[38:40 - 41:19] Why asset managers should be great communicators.

• Why frequent communication is key. 
• Confidence is key to get more clients.

[41:19 - 44:45] Influencing through the property management company.

• Why you should pay attention to online shopping.
• A good and clean fitness center is essential.
• The essence of a pet park

[44:45 - 50:00] Closing segment

• Final words from everyone.

Tweetable Quote:

"I’m going to make mistakes. Mistakes are going to be made. But I won’t make that mistake twice" - Ben Suttles

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