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Consulting

As an owner and investor you always encounter new crossroads. When that happens you want to start evaluating what will be the right course of action. The evaluation process usually consists of consulting with the key leaders that you deal with regularly. Having the right people to talk to and consult with can make the difference between choosing the best course of action or less optimized action. At My Management, LLC we are always happy to help. We are open minded and strive to always think outside of the box. We analyze the crossroads in an unconventional way and we consider problems as goals to achieve, almost like an art. It is from our point of view that art consists of the ability to take topics and techniques that are unusual and use them to solve a problem in an unique way. 

For example,  instead of using a shelf product for our online payment system, we created our own merchant system. This helps ensure the rates per transaction are the lowest in the market and residents are happy to use it. 
Another example would be how we manage and market the property especially with the strong competition throughout the city. So, we did a marketing analysis and learned that about 80% of our competitors use well known websites with paid listings to advertise their properties. We decided to think differently. If everyone is paying for premium listings then no one has an actual advantage in relation to that listing-classic game theory. So, we decided with our out of the box thinking to use twitter and Instagram as our marketing platform. An action plan was made, action items were completed and ultimately made the decision to use those platforms as a success. Our budget was the lowest in comparison to premium website listings. 
 

Property Strategy

Do you want to flip a property and sell it or keep it for yourself for the long run? Do you want to transform a C class property into a B class property? Are you aware of the numbers you need to make that transformation? On the other hand, maybe you have had this property for a few years now and are unsure of the right course of action. Have you been debating about selling or refinancing? Have you been trying to calculate an appropriate budget for renovations? If you answered yes or no to any of these questions, that is fine, there is no right or wrong answer.


Every business needs to have a long term strategy with targets and goals to achieve. The housing market is a business and the same principles apply. Managing a property needs to go hand in hand with strategy. Sometimes we are unaware of what our strategy is and we need help defining that. For example, let’s say an investor purchases a property for $1M and that property has 10 townhouses. The decision for the investor was simple. He had an opportunity to put down $200K and finance for $1.5M. Next, the investor invests $500K in renovation to increase the overall value of the property to $2.2M. Subsequently, now he has to make the strategic decision to flip the homes for $0.7M profit before taxes or to keep it how it is and refinance for the long term. Another option would be to keep it for a few years and then to flip the property for $2.5M or $2.7M all the while still collecting rent. However, the real question is if the original $500K renovation supports the strategy. There are several options to how the strategy should or should not have gone. One option could have been to sell the townhouses to the renter as a “rent to own” lease which could have generated maximum profits. The question now is what do all the strategies above have in common? The answer is simple, the initial decision to maximize the profit in the best way possible.

 

As an investor, you want to keep as many options on the table. This will help ensure that you have an option for whatever unexpected or expected situation arises. 
On the other hand, sometimes you might just need someone else to think outside of the box. 
 

Others

We also provide property management services, evaluations, budgeting and monitoring service.

 

Case study Winbranch Complex at Memphis TN:

Started with negative operating income, less than 40% occupancy.

2 years later: 99% occupancy, Covid-19 stabilization strategy, refinancing executed

Check with us what can we do for you. 
 

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