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#202: A Tactical, Data-Driven Discussion About Market Selection and Asset Management with Neal Bawa
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In this episode of the Multifamily Wealth Podcast, we sit down with Neal Bawa, a highly regarded syndicator in the real estate industry. With a background in technology and data science, Neal brings a unique perspective to the world of real estate investing. He has successfully invested in various asset classes, including multifamily, industrial, mobile home parks, self-storage, and built-to-rent communities.
During our conversation, Neal shares his data-driven approach to market selection and underwriting, highlighting the importance of evaluating cities based on factors such as population growth, job growth, home price growth, income growth, and crime reduction. He also emphasizes the significance of considering property taxes and insurance costs when making investment decisions, as these factors can have a significant impact on profitability.
We delve into Neal's asset management strategies, including the use of dashboards and data visualization to track key performance indicators (KPIs) and hold property managers accountable. He explains how his team utilizes an efficiency center, consisting of both US-based and overseas talent, to streamline operations and enhance efficiency.
Towards the end of the episode, Neal discusses his current focus on built-to-rent (BTR) properties, explaining the changing dynamics of the rental market and the increasing demand for single-family rentals among millennials.
In this episode we discuss:
- How does Neal use data science to select the best markets for real estate investment?
- What is the significance of low property taxes and insurance in maximizing profits in real estate investing?
- How does Neal's team utilize dashboards and data visualization to improve asset management?
- What is the role of overseas talent in Neal's asset management strategy?
- How does Neal maintain accountability and communication with property management teams?
- What are the key metrics and KPIs that Neal tracks in ongoing asset management?
- What is Neal's current focus in the real estate market, specifically in the built-to-rent asset class?
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