Why Neurotic Operators Always Have An Edge...
If you're going to place your money with someone, avoid the overconfident, laissez-faire guy who runs the numbers but never visits your property.
This happens a lot in our industry. The well-spoken guy from the Ivy League school has no problem raising capital. He is well-connected.
But how does his portfolio measure up against the street-wise neurotic operator?
How does it measure against the person who didn't come from wealth but created it? The operator who not only visits the property every day to check on things but would gladly move into one of the units if he thought it would increase investor returns.
A neurotic operator has his eye on every detail. Could he get a cheaper waste management company? Would better landscaping outside building #4 allow for a small bump in rents? Would the towing service cover the cost of parking lot repairs?
When a person has to work harder than his competitors to create wealth, he or she develops certain characteristics - drive, stamina, and an ability to think creatively and succeed where others would not.
You want an operator who is willing to lose sleep in order to exceed his projected returns. That type of operator not only respects your capital investment, he knows you are the lifeline of his business.