Aug 24, 2021
Standout Quotes:
"Don't have too much pride that you need to know everything” - [Gary]
"We like to give ourselves margin for error so we can also have that flexibility to pivot our business plan if need be" - [Gary]
"We're constantly massaging our numbers and seeing, where might we spend more money?"- [Gary]
“There's a tons of foreign money that's coming in because multifamily real estate is still the best risk adjusted returns out there.” – [Gary]
“Interest rates are going to go up and then it'll level off, but people need a place to place money” – [Gary]
“I don't think enough people out there understand what true asset management is.” – [Gary]
Key Takeaways:
Episode Timeline:
[02:28] I’m excited about our guest today, Gary Lapinski.
[04:57] Gary describes himself as Tenacious.
[05:14] Gary shares his backstory.
[07:45] Gary talks about integrity and ethics in life and business.
[08:54] How do you make high stake decisions?
[11:06] What’s acceptable to you in underwriting from a financial metrics piece?
[12:25] Where do you think cap rates are going to go?
[14:19] Gary talks about Asset management versus Property management.
[17:10] Do you do asset management solely on your properties or do you do third-party?
[19:31] Technology wise, what other tools do you like to use?
[20:26] Any specific secret that you would give a new investor today?
[20:58] Gary talks about vetting a sponsor.
[22:03] What’s your favorite tourist attraction?
[22:27] How about the best book you've ever read?
“Crucial Conversations" by Kerry Patterson, Joseph Grenny, Al Switzler, Ron McMillan.
[23:30] How to contact Gary
Website: aptcapitalgroup.com