Social Impact Housing + PropTech = Profits with Kent Ritter

Kent Ritter is a former management consultant, start-up owner, and corporate executive turned full-time real estate investor and operator. Kent has years of experience leading Private Select Portfolio. He is the host of the Ritter on Real Estate podcast and Youtube channel, where he provides impactful interviews and practical tips for investors. Kent has achieved financial freedom, and now he is on a mission to empower others to do the same through multifamily investing.

In this episode, Kent shares a win-win investment strategy for renters and investors with rents that are a little below the market but still allow investors to operate profitably. He talks about the technology he puts in place that makes it a game-changer for multifamily properties and increases property management efficiency.

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What you'll learn in just 17 minutes from today's episode:

Find out one investment strategy that allows you to impact society and enhance communities while earning profits
Discover how you can do things smartly and earn profitably without having to increase rents significantly
Learn how to find other revenue streams where renters are financially unburdened, and investors earn well

Resources/Links:

Website: https://www.kentritter.com/

Topics Covered:

01:43 - What for him is social impact investing
05:36 - One property he recently did renovations on and still have former renters occupy it
07:19 - What repairs and improvements were made, and how renovations went while some renters never get out of their spaces
09:14 - A win-win strategy for both renters and investors
10:30 - Increasing the value of the property by incorporating other income streams with it
11:56 - What he considers a backbone for everything they do and all things adding value to the property when it comes to technology
14:22 - A self-guided tour option
16:37 - How he put up the technology system in place
17:21 - The making of the self-guided tour and who made the script
18:22 - How do these technology-related amenities affect an agent's job

Key Takeaways:

"If you do things in the right way, and you do things smartly, you can add value without having to bump rents significantly." - Kent Ritter

"I really believe in trying to add value through amenities, or revenue-generating amenities, and doing that in as many ways as we can." - Kent Ritter

"One of the things that I think has just been a game-changer for the multifamily industry is the ability to have a contactless leasing process." - Kent Ritter

"The more that we can leverage technology to take away the mundane, everyday low complexity tasks, the more that we can focus on our highest and best use. And you can focus on really creating deep relationships." - Kent Ritter

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