On today’s Friday Edition of The Passive Income Through Multifamily Real Estate podcast, we welcome Kenny Wolfe of Wolfe Investments. Kenny has been investing in multifamily real estate since 2010 and co-founded Wolfe Investments in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio and is here today to talk to us about what he has learned, and what he is still yet to discover, about asset management. As COVID-19 pushes the world into using technological tools to survive, the real estate industry is no different. We discuss the shifts happening to move more residents and prospects online, as well as the age-old power of skills such as remaining calm during this time of global uncertainty! Not only do we look at the present, and into the future in this episode, but we also honor the past by reflecting on the biggest lessons and challenges Kenny has faced throughout his 10-year journey in real estate. Take a listen to gain some wisdom from the past as we dive into the future!
Key Points from This Episode:
- The top three things Kenny would tell his younger self about asset management.
- Why asset management is a great business to be in if you’re a people’s person.
- Kenny’s best partners in asset management today and how he discovered them.
- The key differences between managing a 50-unit property and a 200-unit property.
- How Kenny’s biggest success as an asset manager started out with a D-asset.
- Foundation issues: Kenny shares his hardest lessons learned as an asset manager.
- Discover how the world of asset managing might look three years from now.
- How COVID-19 is pushing more residents to online leasing, applications, and tours.
- The power of remaining calm, approachable, and communicative during this time.
“Asset managing is harder than you think. It’s not some part-time gig everyone’s always talking about.” — Kenny Wolfe [0:01:35]
“When my gut tells me ‘I can’t breathe,’ I know I’ve got to hire somebody.” — Kenny Wolfe [0:14:43]
“This is pushing more of our residents and our prospects online.” — Kenny Wolfe [0:06:50]
“My asset manager superpower is to remain calm.” — Kenny Wolfe [0:08:14]
Links Mentioned in Today’s Episode: