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How to Take Care of a Multifamily Investor

How to Take Care of a Multifamily Investor 

Good investor relationships are essentially if you want to make it in the commercial real estate world, and multifamily investors are no exception. Here are a few tips on how to take care of a multifamily investor.

The basics must be priority: whatever you tell your multifamily investors, must be delivered on time and as promised. Be quick to supply them with whatever documentation they request, and any required documents such as Schedule K-1 tax form should be delivered in a timely manner. Failing to meet the basic needs can result in poor relationship with your multifamily investor.

Strong communication is a must: regular, ongoing communication with multifamily investors is a must when it comes to developing and maintaining your relationships. Communications should include items such as the performance of an investment or investors’ returns. And don’t overlook the simplicity of a friendly phone call to share good news about upcoming projectors or investing opportunities.

Face-to-face meetings: while a large get-together with all your investors may not be practical or possible, given the location of your multifamily investors, it is still important that you carve out time to see them face-to-face. Invite them for a cup of coffee or a quick chat via the Internet using technology like face-time or Zoom video conference calls.

Follow through: do what you say you are going to do, seems so obvious however it can be an issue for some owner/operators. Keep in mind, your multifamily investors are suave, and they make their decisions based on their ability and/or willingness to take risks. Don’t wow them with a strategy and then drop the ball!

Taking care of your multifamily investors is imperative if you want to succeed in the commercial real estate industry. These four tips might seem simple, but they cannot be overstated, as they are crucial in maintaining and developing lasting multifamily investor relationships.

For more than forty years, the Knipp name has been helping landlords and investors with their real estate development needs. We invite you to visit us online at www.KnippContracting.com or www.KnippCommerical.com and view our online portfolio.

Whether you are looking to renovate your existing commercial building, or break ground on a new commercial real estate project, our team of experienced experts are ready to help you with all your construction and real estate development needs. We look forward to hearing from you soon!

Knipp Commercial
info@knippcontracting.com
623-561-0803
www.KnippContracting.com
www.KnippCommercial.com

Source: http://www.nreionline.com/multifamily/four-ways-take-care-multifamily-investors

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