Ep. 195 James Donnelly: Residential Property Management

Invest Florida - A Real Estate Podcast

With the cap rate compression environment that we're in right now, it's more important than ever for multifamily investors to be creative about how they add value in order to increase rents and get a good return on their investment. In this week's podcast, we talk with James Donnelly, Founder and CEO of Castle Group, which focuses on residential property management. James discusses the 3 main strategies he employs to add value to his company's investments and deliver top level services and amenities to a new generation of every more demanding residents. The 3 main categories James uses to add value is:

• Traditional value-add - e.g. painting, putting in a new floor, or adding new amenities
• Technology - using technology to make you not only more efficient, but also using that as a revenue stream
• Better management and service

Join us for this podcast as James gives his investment advice and his take on the multifamily market in Florida.

Key Discussion Points [04:48] About our guest: James Donnelly [06:28] How did you get started in Residential Property Management? [11:29] How did you end up in South Florida? [14:40] Where do you see the multifamily market going? [18:36] What cap rates are you seeing around Florida? [23:27] What are some of the other value-add plays that are emerging right now? [25:33] What common mistakes do you see property managers or others making? [31:09] How can folks contact you? [31:53] Summary of where we are, where we're headed, & what you would tell someone who's calling about a deal in Southease Florida [37:42] Closing remarks by Eric and Steven