Bringing Tech to Apartment Investing - Best Tools for Real Estate Investors

Transcript

We're actually going through a process, right now, where we're taking a lot of the operational things that we do in running the properties, and construction, and distilling it down into dashboards that can be created. We are working with our team to make sure that the metrics and the key performance indicators get tracked on those dashboards, so that when we have weekly meetings, we can say, "Okay, what's working? What's not working? Let's focus our time and attention on things that need it," instead of trying to cover everything in a couple-hour meeting, which - as the portfolio grows - gets harder and harder to do.

What does the dashboard look like, and how is it built?

We're using some technology behind the scenes, a product called Smartsheets, that allows you to aggregate data from different sources. We've come up with a proprietary set of metrics that we want to track; using that metrics we can, we believe, hone in on areas that need some attention and be proactive and take action on that; versus, if you're just looking at the financials, sometimes, it's little too late because that financials may just reflect a particular symptom that may be occurring. We want to try to be more proactive in trying to identify some key performance indicators that will give us a heads up on that ahead of time.