April 8, 2022

Asset Management and Broker Relations with Pancham Gupta

If you are into MULTI-FAMILY Investing (Apartments) or are thinking about it -  today's podcast interview will show you the importance of dialing in your relationship with your broker, as well as some ideas on asset management well.  
Pancham Gupta is th...


If you are into MULTI-FAMILY Investing (Apartments) or are thinking about it -   today's podcast interview will show you the importance of dialing in your relationship with your broker, as well as some ideas on asset management well.  

Pancham Gupta is the Co-Founder and Principal of Mesos Capital and is also a co-founder of the Multifamily Mastermind NYC group. He has a master's in Information Networking in Computer Science from Carnegie Mellon University. Pancham has bought and invested in properties in 5 different states and internationally. Pancham is great at finding value propositions and has successfully built a portfolio that is cash-flowing in double digits. 

In this episode, Pancham shares the importance of asset management and broker relations with regard to managing commercial multifamily properties. 

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What you'll learn in just 16 minutes from today's episode: 

  • Discover what asset management is and what roles an asset manager must perform in a company;
  • Understand the importance of having a high-level relationship with brokers in the market; and
  • List down tips and learn through stories with regards to the importance of asset management and broker relations in managing properties

Resources/Links: 

Topics Covered: 

  • 00:49 – What “asset management” means to Pancham alongside a corporate example beforehand
  • 02:38 – The roles an asset manager is tasked to fulfill in a company
  • 04:32 – An example of how an asset manager works in a corporation
  • 06:51 – Tips for people who want to get better at managing their own properties, especially those that need repair
  • 09:18 – The importance of having broker relations alongside some tips on how to get started on having one
  • 12:12 – How to let brokers know that you’re not the type to waste their time
  • 13:31 – Useful service to try when wanting to stay in touch: SendOutCards
  • 15:35 – Markets Pancham and his team are in where they maintain high-level relationships with brokers
  • 16:20 – What Mesos Capital is all about
  • 16:54 – Check Pancham’s podcast and grab a copy of his guide called the Top 6 Reasons to Invest Outside of Wall Street

Key Takeaways:

“Asset management is really that management role where you are making sure that all the things that are needed to execute on the business plan for a commercial multifamily building are getting done and in a manner that you would like it to get done.” – Pancham Gupta  

“As an asset manager, what we do, really, is to make sure all the things that are happening on the ground are happening properly.” – Pancham Gupta  

“Make sure that you’re doing the bookkeeping properly and attributing all the expenses properly. This will start giving you an idea of how much you’re spending where. Get three quotes for anything until you build that database of things in your head and your spreadsheets of how much particular item costs.” – Pancham Gupta  

“It is very, very important, very critical to set a payment schedule with the contractors. It’s a very hard conversation to have when you’ve paid 100% of the money and you’re not happy with the work. Make sure that you have a very clear payment schedule and expectation management when it comes to who is getting paid when and what is, in return, they’re getting for that amount of work at that point.” – Pancham Gupta  

“You have to spend the time and the money. If you do what you say you’re gonna do, trust me, they (the brokers) will start noticing it. But if you have not ever done a multifamily deal before, then it’s hard. You’ll have to buy that credibility by partnering with people who have done this before.” – Pancham Gupta

Connect with Pancham Gupta:

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