Episode #93: Looking at Opportunity with Gary Lipsky

In today's episode, Gary takes a deal that he closed at the end of 2021 and uses this as a case study to show how he looks at opportunity! You'll hear a step-by-step outline of all the things he's looking forward to transforming on this one hundred plus property, beginning with the two reasons he prefers buying units over a hundred in an economy that's at scale right now. We then discuss how to leverage your time in terms of leasing agents and property management, before a quick look at the practical tasks that will save electricity and water as well as time and money later. From how they're tackling the image of the property to the nitty-gritty of the rehab upgrades, you'll get all the practical details of how to navigate these opportunities to save money and create an investment that benefits everyone! To hear his top advice on dealing with timelines, accountability, and efficient time management, press play, and join us today. Key Points From This Episode:A brief introduction to today's case study: a deal Gary closed at the end of 2021.He explains the two reasons why he's only buying a hundred plus units now. Some benefits of buying from a long-time owner of a property. What the plans are for the rehab and how he plans to save on water and electricity.How to ensure that you are able to exit your business plan.Some figures on previous and projected rents. How to monitor your TMT's accountability and timelines. Gary shares his tips on getting everything you need ready before your teams start.Some great advice on having clear communication with your property manager.Tweetables:“Finding a good opportunity is great but you have to be able to exit on your business plan as well and it doesn’t magically happen.” — @garylipsky [04:49]“You want your rehab team to have everything they need for the renovation, ready to go before they start. You don’t want a vacant unit sitting while you’re waiting on appliances, flooring, light fixtures or whatever else you need.” — @garylipsky [05:24]“A lot of property managers or property management companies don’t move at your speed, so make sure you communicate what you’re looking for ahead of time before you start with them.” — @garylipsky [06:46]Links Mentioned in Today’s Episode:Asset Management Mastery Facebook GroupBreak of Day CapitalBreak of Day Capital InstagramBreak of Day Capital YoutubeGary Lipsky on LinkedInGarzella Group