Podcast appearances and mentions of steven gesis

As loan maturities come to fruition over the next couple years, great deals will emerge for experienced operators who can raise capital and secure financing. One asset class where there will be an inordinate amount of distress will be Class C Multifamily where inexperienced operators took on too much debt and overpaid for properties. Steven Gesis, COO at Smartland in Cleveland, specializes in Class C, and is poised to capitalize on this opportunity. Smartland has innovated the approach to adding value in this class of properties including the installation of wireless packages, EV charging stations, and creating a Smartland app where tenants can schedule maintenance requests. Smartland has even opened on-property convenience stores, Subway sandwich shops, and more.

What are the value-adds that you need to consider today? What specific technology can you incorporate into your renovation to force appreciation? In the last episode of our three-part series with Steven Gesis of Smartland, he discusses the top value-adds you need to consider right now so you can add value to your tenants.Steven first defines what force appreciation means. He then names the top four value-adds you can have so that you can force appreciation to your property. These are LVT, WaterSense fixtures, paint, and the common area. He also reveals what he thinks is the ultimate sales piece and why it is important that your sales team is better educated about the value-adds your property offers. Tune in now!

Value-add is an investment strategy that we often hear in real estate. But, have you ever heard of a heavy value-add? Is this something that you should be considering doing in your business? What are the pros and cons of doing it? Find out the answers to these questions in today's episode with Steven Gesis of Smartland.In the second part of our three-part series with Steven, he talks about how to be able to serve your investors better. He also details what heavy value-add is, the benefit of doing it, and how you can do it on your project as well. Listen now!Key Points From This Episode: Steven defines what a value-add is.Steven shares that when they buy for $50,000 per door per unit, they spend 50% on it for value-add.Why can Steven and Smartland be considered heavy value-add lifters?The way you do your underwriting can help you decide which value-add deals to pursue.What are the considerations to have before making a deal?Steven talks about the 112-unit, seven-story deal they had in 2018.Steven details what Smartland is and its focus.Tweetables:“So our value-add look is that we're looking at it from a holistic and complete turnaround of an apartment. So some guys say value-add, it's just going to be the common areas, the carpets, the lights, the signage. No, we're going full gauntlet here.”“You have to consider that the entry barrier into multifamily is quite high simply because you have to have a closing track record with some sort of brokerage. And you have to develop that over a period of time.”“What we really have to focus on buying, there's a lot of things that have to go right.”“We're a market maker anywhere we're going.”Links Mentioned in Today's Episode:Steven Gesis on LinkedInSmartland websiteWS1534: Scaling from Single-Family to Multifamily | Steven GesisAbout Steven GesisSteven is responsible for the strategic direction and performance of all teams within Smartland. As EVP Steven is the catalyst for all department directors to ensure the Smartland vision and Smartland standards are being implemented and adhered to. Prior to joining Smartland, Steven was an Operations Administrator at the Cleveland Clinic, where he was instrumental in the implementation of new strategies and efficiencies. Steven holds an MBA from CSU Monte Ahuja School of Business as well as a Bachelor's degree from The Ohio State University.

When you think of a real estate business, single-family homes first come to mind. It is the most common asset class in the space and people are drawn to it especially when they are new in the industry. Today, we speak with Steven Gesis, co-founder of Smartland, and he talks about how they transitioned from having single-family rentals to investing in multifamily homes.In this first episode of our three-part series with Steven, he talks about the successes he and Smartland had in the single-family rental (SFR) space. He then talks about the decision they made after scaling to transition to the multifamily space, how the asset class is a heavy value-add opportunity, and a lot more. Listen now and deep dive into SFR and multifamily today!Key Points From This Episode: Steven talks about his background and how he got into the real estate business.Steven shares that Smartland began with single-family homes then they transitioned into multifamily investing.Why having a scattered site is a tough marketplace to capture?How do Steven and his partner divide their responsibilities in the business?Steven elaborates on the single-family rental business Smartland used to own.How did Steven look at his business model as a strategic opportunity to build a bigger management company than just his own portfolio?How big was Steven's staff when the business was in full speed and scattered sites, single-family rental?Steven discusses how they were able to purchase a single-family home then.Steven shares they participated in some crowdfunding to raise funds for their single-family rental business.Why did Steven and Smartland decide to transition to multifamily?Tweetables:“You know, we sought out those deals, we found what was tough to find. We did the tough things we did on our own against the lot of naysayers that said, ‘No, you can't do that. Oh, that's not a good business. Oh, that's not popular. Oh, that's different.' You know, that's not something we do.”“We are able to look at things globally and triangulate information from multiple views. And, I think that's really been a successful part of our journey, is that we're not necessarily singular in our one path.”“The beautiful thing about SFR (single-family rental) is its ability, how agile you can be with it if you do have the scale.”“At the end of the day, it does boil down to one thing, it's still grit.”“As demand grows also on that (multifamily) side of interest, we're looking to have a larger footprint, a larger geographic distribution. We've really honed our technology down where we are looking to build that exponential momentum.”“So we're heavy value-add opportunity buyers, that's who we are. That's what we hunt for. That's why we have the outsized returns, we're very disciplined in that perspective.”Links Mentioned in Today's Episode:Steven Gesis on LinkedInSmartland websiteAbout Steven GesisSteven is responsible for the strategic direction and performance of all teams within Smartland. As EVP Steven is the catalyst for all department directors to ensure the Smartland vision and Smartland standards are being implemented and adhered to. Prior to joining Smartland, Steven was an Operations Administrator at the Cleveland Clinic, where he was instrumental in the implementation of new strategies and efficiencies. Steven holds an MBA from CSU Monte Ahuja School of Business as well as a Bachelor's degree from The Ohio State University.

With cap rates having gone as low as they arguably can go, multifamily operators are going to have to add deep value to properties moving forward to meaningfully increase their asset value. They can no longer rely on cap rate compression to generate high IRRs and returns for their investors. At this point, only the strongest operators will generate the kind of profits we've seen over the past few years. Steven Gesis, COO at Smartland, started in Northeast Ohio rehabbing, modernizing, and standardizing old D – C+ apartments that blew their competition out of the water. Smartland innovated the approach to renovations in this class of properties including the installation of wireless packages, putting in EV charging stations, renovating pools & gyms, planting gardens, even opening on-property convenience stores, Subway sandwich shops, and more. They've recently expanded to Miami with the same formula but with higher upside because of the exploding rents in South Florida. As a result of Smartland's approach, they've generated consistently outsized returns for their investors.

When it comes to ground-up vs. value add in multifamily real estate, where are the best risk-adjusted returns? Smartland's EVP | COO, Steven Gesis, was featured on an Information Management Network (IMN) panel in Atlanta to answer this question. Steven had the opportunity to debate other panelists and present Smartland's multifamily real estate value-add strategy.

Smartland's EVP | COO, Steven Gesis, was featured on a panel at the IMN Dallas conference. Steven spoke on Smartland's apartment acquisition strategy and how Smartland focuses on heavy-lifting opportunities in the Class C/D market. Steven also touches on Smartland's one-day renovation process as well as the amenities that add value to our apartments as well as the surrounding community.

Smartland's EVP-COO, Steven Gesis, continues the company's IMN speaking engagements with a panel in Chicago. Steven spoke on Smartland's C/D investment strategy when it comes to multi-family real estate. Steven and the other panel members also discuss the impact of opportunity zones when it comes to developing an investment strategy.

Smartland's EVP-COO, Steven Gesis, was featured on an Information Management Network (IMN) panel in New York. Steven had the opportunity to debate other panelists and speak on Smartland's value-add strategy in apartment real estate.

In our premiere episode of Run With It, Smartland CEO Vadim Kleyner, COO Steven Gesis, and Institutional Capital Relations Director Eric Golubitsky sit down to discuss the idea of mobile billboard advertising and how this strategy can successfully impact your business.

Interested in building wealth through turnkey rentals? You should know that turnkey means different things to different people. Some may get you access to properties are 'rental grade', but then it's your job to take it from there. Some not only provide the property....they warranty the property, manage the tenants, handle maintenance, etc. Steven Gesis of Smartland join us today to talk about how to find the right turnkey provider for you. Don't miss this show! Get your copy of our FREE "Profiting with Rental Properties" Guide!

Steven Gesis explains the difference between a true, all-in-one, turnkey company vs. faux turnkey. Get your copy of our FREE "Profiting with Rental Properties" Guide!

Today, Steven Gesis chats with us about how important accountability is for tenant placement warranties, home warranties, and more when working with turnkey providers. Find out how tenant placement warranties work and why third party inspections should still be done, even when rehab work is warrantied. Get your copy of our FREE "Profiting with Rental Properties" Guide!

Today, Steven Gesis chats with us about how important accountability is for tenant placement warranties, home warranties, and more when working with turnkey providers Find out how tenant placement warranties work and why third party inspections should still be done, even when rehab work is warrantied. Get your copy of our FREE "Profiting with Rental Properties" Guide!

In the classroom today, Steven Gesis elaborates on how a conventional property management company differs from a turnkey management company. Long term tenants are desirable for both the turnkey management company and the real estate investor, as Steven Gesis tells us. Get your copy of our FREE "Profiting with Rental Properties" Guide!

In the classroom today, Steven Gesis elaborates on how a conventional property management company differs from a turnkey management company. Long term tenants are desirable for both the turnkey management company and the real estate investor, as Steven Gesis tells us. Get your copy of our FREE "Profiting with Rental Properties" Guide!