Top Three Questions to Ask Before Investing with Paula Nichols | Know your why # 261

EPISODE SUMMARY:

We're thrilled to bring you an insightful conversation with Paula Nichols, a seasoned real estate professional with a fascinating journey - from Colombia to the US, from being her mother's real estate agent at a mere age of 15 to now running a successful real estate investment firm, Apogee Capital, with her husband Jonathan. Paula take us behind the scenes of their dynamic partnership, revealing how they discovered their individual strengths and carved out specific roles within their business.

You'll soak in their wisdom on setting clear expectations, managing people and properties, and navigating the nuanced world of asset management. We also delve into the strategies Paula wield for successful asset management. She emphasizes the importance of a solid business plan, the use of key performance indicators to measure success, and their unique approach to forging a sense of community amongst their residents.

She also navigate the tricky balance of retaining tenants while increasing rent to meet market demands, sharing their success story of achieving an impressive 30-40% retention rate. Taking us further, Paula doesn't not shy away from discussing the financial aspects of their real estate business. She sheds light on the significance of capital preservation and the potential perils of bridge debt.

As she anticipates a wave of discounted opportunities due to expiring loan terms, they stress on the importance of risk recognition and asking the right questions before making passive investments. Wrapped up with lessons from their years in real estate and valuable tips for those looking to enter the industry, this episode with Paula Nichols is a goldmine of knowledge for seasoned professionals and aspiring real estate moguls alike.

Tune in for an inspiring and informative conversation that will undoubtedly enhance your understanding of the real estate landscape.

PAULA'S BIO:

Paula Nichols is a real estate professional with experience in project and organizational management, investment analysis and contract negotiation. Paula and her husband, Jonathan, began investing in real estate in 2018 and undertook numerous residential projects before forming their commercial real estate investment firm, Apogee Capital, in 2019. Her current portfolio includes 400+ apartment units in the Texas and Oklahoma markets as a General Partner and almost 1,000 apartment units as a Limited Partner. In addition to her work with Apogee, Paula managed the pre-development of over 800 build-to-rent units in the DFW for a real estate development firm where she worked closely with institutional investors and local government officials.

Prior to beginning her career in real estate, Paula worked as a management consultant for clients in the banking and utility sectors. Paula holds a B.S. degree in Business Administration - Finance from Texas A&M University, she is a licensed real estate agent and a certified ScrumMaster®. Outside of work, she enjoys learning about interior design, spending time with friends/family and traveling with her husband.

GET IN TOUCH WITH PAULA:

https://www.apogeemfc.com/

https://www.linkedin.com/in/paula-nichols15/

EPISODE CHAPTERS:

(0:00:01) - 'Real Estate Podcast With Paula Nichols Paula Nichols moved to the US, became a real estate agent, studied finance, and invested in 400+ units.

(0:03:40) - Business Partnership Roles and Responsibilities Paula Nichols discusses utilizing strengths, expectations, accountability, and asset management.

(0:11:40) - Strategies for Multifamily Asset Management Paula Nichols explores asset management, KPIs, community building, and tenant retention.

(0:16:35) - Maximizing Revenue Through Property Renovations Paula Nichols discusses balancing financial, construction and leasing components of asset management, increasing rents without forcing tenants out, considering market cycle and time of year, and understanding comps.

(0:27:06) - Real Estate Loans Paula Nichols discusses preserving capital, bridge debt, discounted opportunities, risk, and lessons learned.

(0:35:04) - Passion and Success in Real Estate Paula shares advice on real estate asset management, preserving capital, and taking on bridge debt.

(0:40:11) - Know Your Why Paula Nichols emphasizes preserving capital, balancing financial, construction and leasing components, and potential consequences of bridge debt.

If you want to know more about Dr. Jason Balara and the Know your Why Podcast: https://linktr.ee/jasonbalara

Audio Track: Back To The Wood by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/

Artist: http://audionautix.com/