real estate asset management

Multifamily Real Estate Investor Rob Rowsell talks using AI apps for investment asset management automation. Digital assets management uses artificial intelligence, streamlining Rob’s wealth management strategy.

Investment Asset Management Automation with AIHow Rob Uses AI Apps For Investment Asset Management Automation

Rob explains that his personal development strategy involves polishing his skills of managing his assets. Primarily, Rob invests and participates in multifamily real estate deals. He has property holdings across the USA. He and his personal assistants are increasingly using AI to automate the task of managing those assets.

If you have investigated your options, you know that there are many app choices for investment asset management automation. Inviting AI into our business strategies can be overwhelming. It is important to choose two large language models to focus on and use for your business. Rob prefers to use either ChatGPT or Gemini, depending on his needs.

Rob mentions one prompt that he has set up regarding profit and loss reports. He has programmed his business KPIs into the system, and it generates P&L reports. It  also generates the questions to send to the property management company at the end of each rental term.

Open your mind to using AI to automate your business. So many new possibilities will open up when you have mastered it and can build your own internal ecosystem.

Join Our Multifamily Investing Community Today

Do you own your own multifamily rental properties? If not, do you plan to do so one day? Then you should consider joining our online financial group, the ATL Inner Circle Community! Each month, investing pro Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not quite as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Sign up today!

Let’s talk about Real Estate Asset Management after you close Escrow. Rob Rowsell has the rundown on what you should expect from your property management company’s business plan once you close on Escrow. Work hand in hand with your on-site manager and his team, so they know what to expect from you, and vice versa. Regular weekly meetings are key tools to keep up with the management team’s progress. Rob recommends quarterly on-site visits as well.

Real Estate Asset Managagement - After you close Escrow, what do you look for in a Property Management company?Real Estate Asset Management through a Property Management Company

You’ve closed Escrow on your new multifamily investment. Now what? When you hired a property management company, they agreed to your written business plan for your real estate asset management. Make sure this plan includes:

  1. Monday Morning Reports (MMR): Train your onsite manager on how you want this spreadsheet filled out weekly. They should report how much rent is collected, vacancy percentage, evictions, renewals, number of maintenance calls made and performed, and number of parties interested in the property.
  2. Weekly Meetings: After each Monday Morning Report, you should email your questions and concerns, then have a phone or Zoom meeting to discuss them. For smaller properties, you may not need to meet each week, but at least bi-weekly meetings are important. Ask the hard questions!
  3. Review Income Statements: You’d be surprised about how much money is leaking out the door due to regular tasks being put off or neglected. Examples include overdue electric bills accruing penalties, and utility bills not being switched over to tenants as soon as they move in. Perhaps the property has bought equipment or tools that the maintenance staff should already own.
  4. Site Visits (as needed): You should occasionally drop in to see the rental property in person. Quarterly is typically the right frequency.
  5. Managing Construction (Value Add): Usually, you or a teammate will need to oversee your construction manager for repairs.
  6. Negotiating Contracts with Vendors
  7. Approving Cap Ex proposals
  8. Regular Investor Updates: Rob posts videos in his online portal to update his investors on their property.
  9. Quarterly Investor Disbursements
  10. Whatever Else May Come Up…

Join Our Community

Do you own multifamily properties? If not, do you aspire to one day? Then you should consider joining our online discussion group, the ATL Community! Each month, Rob Rowsell will teach you what you must do in order to build wealth in the real estate business. It’s not as easy as it looks! Property taxes, liens, and legal fees can all be hard to navigate, so having a successful guide in your corner like Rob is a must! Enroll today!