July 31, 2024 • 24 mins
In this episode of the Multifamily Innovation® Podcast, Lauren Stinson welcomes Rachael Kish, Vice President of Operations at Asset Living. Rachael, a Multifamily Innovation® Council member and a speaker at the upcoming Multifamily Women® Summit in September, shares her inspiring career journey and insights into the multifamily industry.
Rachael begins by recounting her unconventional entry into multifamily operations, which started with a leasing job. What began as a temporary position quickly turned into a passion, leading her to a fulfilling career spanning over 21 years. She emphasizes the importance of seizing opportunities and recognizing the multifaceted appeal of the multifamily industry.
The conversation then shifts to the significance of mentorship in professional growth. Rachael discusses her experiences with mentors, highlighting how aligning with the right people and teams has accelerated her career. She underscores the importance of finding mentors and the role they play in personal and professional development.
Rachael provides valuable advice for women early in their multifamily careers, encouraging them to lean into challenging moments and learn from difficult bosses. She stresses the importance of perseverance, grit, and embracing discomfort as pathways to innovation and growth.
As a member of the Multifamily Innovation® Council, Rachael speaks about the benefits of being part of this community, including shared experiences, creative ideas, and the comfort of knowing you’re not alone in facing challenges. She discusses the council's conversations around AI, particularly nectarflow™, and its potential impact on the multifamily industry.
The importance of building relationships and networks is another key topic in the discussion. Rachael emphasizes how council membership and participation in the Women's Summit have contributed to her growth. She highlights the personal and professional benefits of learning from diverse perspectives and connecting with other industry leaders.
Looking ahead, Rachael shares her excitement about current projects at Asset Living, such as opening new markets and building dynamic teams. She talks about the role of technology and AI in enhancing human capital and driving better results in the multifamily industry.
About the Multifamily Innovation® Council:
The Multifamily Innovation® Council is the executive level membership organization that makes a difference in your bottom line, drives a better experience for your employees, and allows you an experience that keeps demand strong for your company. The council is uniquely positioned to focus on the intersection of Leadership, Technology, AI, and Innovation.
The Multifamily Innovation® Council is for Multifamily Business leaders who want to unlock value inside their organization so they can create better experiences and drive profitability inside their company.
To learn more or to join, visit https://multifamilyinnovation.com.
For more information and to engage with leaders shaping the future of multifamily innovation, visit https://multifamilyinnovation.com/.
Connect:
Multifamily Innovation® Council: https://multifamilyinnovation.com/
Patrick Antrim: https://www.linkedin.com/in/patrickantrim/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Thanks for joining the Multifamily Innovation
Podcast Today.
I have an amazing guest for youRachel Kish.
She is the Vice President ofOperations at Asset Living.
She is a Multifamily InnovationCouncil member, as well as an
attendee and speaker for ourWomen's Summit in September, and
we are so excited to hear fromher today about her career
(00:20):
journey, how she got to become aVP of Operations, and we are so
happy to have you here today,Rachel.
Speaker 2 (00:27):
Thank you for having me, Lauren.
Speaker 1 (00:27):
I'm excited for our conversation as am I, and so
let's start with your journeykind of where you began in
multifamily and kind of whereyour career took off from there.
Speaker 2 (00:36):
Oh, thank you for asking that question.
It's a fun one.
It begins, actually, with myhusband.
He was living in Arizona.
I was finishing school inIndiana.
He was living in an apartmentcommunity and he didn't know
anybody.
So he became that resident whowas just always in the office.
If you've been in multifamilyfor five minutes, you know that
resident.
(00:56):
Well, that was him.
In the course of his officeappearances he observed what
they did day to day and hecommented to the property
manager I think my fiance wouldbe really, really good at this
job.
And she said well, once you'remarried and she moves out, we've
got a lease up down the road.
Have her apply.
Well, I was finishing my degreein political science and
(01:17):
English, so a leasing careerwasn't top of mind for me.
I didn't even know what thatwas.
But we got married, I moved outand I just needed a little job.
So he said, hey, you should gomeet my friend, the property
manager and you can just do thispart-time while I finish school
.
So off to the races.
I got the leasing job.
I was making $10 an hour.
I was super excited.
(01:38):
It was my first really grown-upjob and about three weeks into
the lease-up I could see themagic that was multifamily.
And while I had intentions togo to law school, I decided that
there was something to thisapartment gig and I wanted to
hang around it a little bitlonger.
So I called my parents and Isaid I'm not going to go to law
(01:59):
school.
They were super supportive butalso very curious why I was
making such a rash life decision.
But I could see everything thatit could be.
Even though I couldn't havearticulated it at the time, I
was very excited about theadventure.
So here I am, almost 21 yearslater.
I love multifamily, I love thepeople, I love what we do, I
(02:20):
love who we serve, I love thepolitics.
I love the legal.
It's just very dynamic.
So that's how I got my start.
Speaker 1 (02:27):
What a great story.
And, like, all of us have thatstory right.
We just there's something somagical about multifamily.
I have people who were going tobecome doctors.
I've heard stories where I'mlike, and they just stopped
because they were like nope,there's something here.
Oh, absolutely, it's prettyinteresting.
So, and now you're a VP of ops,which is pretty amazing.
So I think our listeners aregoing to want to hear how were
(02:48):
you mentored?
How did you grow into that typeof role?
Speaker 2 (02:52):
Well, it probably began.
I'm a firstborn, so naturallybossy.
I have three younger sisters,so they would they would argue I
was born for the role and andthey're probably happy that I'm
not bossing them around.
But I love people, I lovevision, I love strategy.
I just had a call this morningwith a client and I indicated to
him that my greatest passion isjust finding the right people
(03:14):
and putting them in the rightroles, and I think that drive
has served me really well as Imoved throughout my career.
I could always find alignmentwith people and teams.
Most of the time there's thoseone-off situations, but I could
find alignment with people andteams and help others accelerate
(03:35):
their growth, and in theprocess I was able to accelerate
my own, and so here I am today,and that's exactly what people
need in leaders right now isthat mentorship.
Speaker 1 (03:43):
We talk about that a lot on the podcast, and it's
funny that you said that too,because I just had someone on
who was an owner-operator andthey literally said the best
thing my talent can do is beable to hire more talent that
fits the right roles.
Their staffing is top priority,and so I think the ability to
(04:03):
be able to identify the rightpeople and place them in the
right roles is kind of asuperpower.
Speaker 2 (04:08):
Well, and it gets easier over time.
As you're buildingorganizations or in some ways
rebuilding an organization, likewhat Robert Hicks and I are
doing at Asset Living in Phoenix, the first few hires you make
are super critical because theybecome gravity for your future
hires.
They possess the attractivequality, the magnetism to bring
(04:30):
more people like themselves intoyour organization.
So as I think about buildingteams, those first few are super
, super critical and after thatthe momentum picks up far more
quickly and you can just growexponentially.
But those first few you got toget those right Absolutely.
Speaker 1 (04:46):
And assetset is number two.
I want to say right, it is.
Yeah, you know your stuff, Iknow my stuff, I know this and,
by the way, robert, like we grewup, you know, I grew up, you
know, in multifamily underRobert at Alliance, and just
he's been such a mentor to somany people in this industry, so
Asset's really lucky to haveboth of you.
So.
So let's go towards kind ofwhat advice would you give women
(05:11):
that are early on in theircareer, that are maybe in that
leasing phase or the, you know,community manager phase, to
become, you know, someone youcan't begin to fathom,
especially?
Speaker 2 (05:24):
when you come in at entry level as a leasing
consultant and there will befrustrating, if not infuriating,
moments, and they're going tocome from a variety of sources.
(05:44):
It's going to come fromresidents, it's going to come
from prospects, it's going tocome from clients, it's going to
come from supervisors.
But it's those reallychallenging moments we are
inclined to resist.
We find reasons to quit, tolook in other directions, and
I've been there.
My husband's had to talk me offthe edge of the cliff.
But if you lean into thoseparticularly hard moments, you
(06:07):
can learn so much.
The other thing I would callout is the boss that is the most
difficult for you.
Maybe if you could go back intime you would undo it, maybe
you would pick a different boss.
That's the boss you can learn alot from, and sometimes they're
teaching you what not to do.
Very often that's the case, butthere's even nuggets that can
(06:28):
be delivered that are superpositive.
So rather than resisting thedifficult moments or the
difficult people, lean into it.
That's where I've found some ofmy greatest blessing and
benefit Absolutely.
Speaker 1 (06:40):
We talk about that a lot in the council, right?
Those moments of discomfortwhere you're like I'm not so
sure about this, those are themoments where you really lean in
and observe and actually gotowards what's actually making
you uncomfortable.
Oh for sure, that's how youinnovate, that's how you know
you're on to something usuallyAgreed, agreed.
So you are a council member, Iam, and so what benefit have you
(07:00):
gotten from being a member ofthe council?
Speaker 2 (07:03):
Well, it may sound superficial, but it's nice to
just work alongside of and speakwith people who experience my
kind of challenge.
Sometimes it's nice to justtake five minutes and say, hey,
yeah, that's me too, and feellike you're not crazy, that your
experience is not unique, andthen you can move away from that
(07:24):
pretty quickly.
You don't want to commiseratefor too long, but you do want to
know that you're not alone inmultifamily and that your
challenges are not unique.
There's hope, knowing thatyou're going to build and
fortify and execute, and you'renot and it is possible.
You're not alone.
So that's the greatest comfortI have found in the Innovation
(07:44):
Summit, but also just creativeideas.
You know we can becomeone-dimensional if we're not
careful, and so we need otherpeople to challenge our
paradigms and ask us toughquestions.
So we really have to delve alittle bit more deeply and we
ask those kinds of questions onthe council.
Speaker 1 (08:05):
That's great, and so has there been anything that's
been workshopped that you'vekind of brought back to Asset,
that you're like wow, this was agreat thought, or this was a
great guest speaker that had agreat idea For sure.
Speaker 2 (08:17):
I love our conversations around AI,
specifically Nectar Flow, reallyintrigued by that opportunity.
We've had some conversations inour organization around that
already.
Mentors I found mentors,Patrick Morin, all the way on
the East Coast.
He and I stay in touch andfound him to be a valuable
resource as both a professionaland just as a person.
So just building that network.
(08:39):
Also, creative ideas abouthealthcare, like really unusual
strategies that havehistorically not fit the
multifamily dynamic, but youlean into it and think, oh, how
can I lever that?
And so it just gives you somecreative pathways and it's the
kind of thing you'll have 10conversations where none of
(09:00):
those things work out, butyou'll stumble into magic and
it's in the council where youfind those little nuggets,
absolutely.
Speaker 1 (09:08):
And what's really cool is that everybody has such
a diverse background of whattype of you know communities
they represent, or are theyowners, are they operators, are
they investors?
So I think, getting thosedifferent perspectives and then
understanding which littlepieces because we always talk
about, it's not a one size fitsall.
Your company is unique, right,and so what can I bring, what
pieces of that can I bring to mycompany?
(09:30):
So I think that's reallyawesome.
Speaker 2 (09:31):
It is.
It has been very beneficial.
Speaker 1 (09:32):
Good.
And then you are also a memberof the Women's Summit and you're
on stage and you helpfacilitate some of those
conversations.
We're really excited to haveyou this year on the Women's
Summit stage.
Thank you.
What have you gottenhistorically from that event?
Speaker 2 (09:57):
And are there women you stay in touch with on a
regular basis?
Now what does that look likefor you?
I do.
I've made many friends.
I'll point out Tina West.
I had the opportunity tointerview her the first year
that I participated in the eventand what I loved about that
interaction was seeing how muchof a boss babe she is.
She really commands a room.
She certainly knows herbusiness.
She's a compelling leader.
People like to follow her, butshe's also a wife and a mom, and
I'm a wife and a mom.
I've been married just 21 years.
(10:17):
We just celebrated 21 years.
We have two children and it's alot to balance the kind of
career that I've I've developed,certainly the kind of career
that Tina has established andcreated.
How do we do all of that?
And really, what I learned fromher is we can't.
We have to have great peoplearound us who support us and
(10:39):
champion us, and I just I wasvery inspired by that talk.
So, yeah, fantastic women,you're gonna learn a lot
professionally, but you're gonnahave meaningful takeaways on a
personal level.
You'll have new strategies.
How do I approach thisrelationship?
How do I manage my kids?
How do I manage my schedule?
How can I lean into my vendorpartners to alleviate some of
(11:00):
the burden in my life.
It's just a very dynamicconversation.
I love being a part of thewomen's event.
That's awesome.
Speaker 1 (11:06):
I'm so glad you got that from that.
So what's next for you?
What are you excited aboutright now in your career, in
your future?
What does that look like?
Speaker 2 (11:17):
We're just doing the coolest stuff at Asset Living.
I had the opportunity to workat Asset Living Phoenix before
it was even Asset, so I knew theregional business that we had
done.
I had close connections withmuch of the team that was in
place, many of the clients notnecessarily institutional money
but great family offices, sothere was a kind of a
(11:39):
familiarity there that I reallyenjoyed.
But the vision and the scale ofwhat Ryan McGrath and Robert
Hicks are looking to do inPhoenix was very exciting to me.
So just opening new markets, wehave the whole West Robert and
I oversee the West division forRyan McGrath.
So going into new places withhim identifying teams, picking
(12:01):
up great clients, helpingexisting clients grow their
portfolios and new markets superexciting.
And the teams gosh.
I just love building teams.
So to have so much of theterritory to just as my
playground and to tinker is veryexciting for me.
Speaker 1 (12:18):
I love that and I think it's great too.
We talk a lot about the careerpath of the onsite team.
I started out my career as asales associate and then I was
kind of like, where do I go fromhere?
So I feel like you're theperfect person to champion
people, to help them identifywhat they're great at, and this
industry is so good at that, atsaying, hey, you might not want
to be an accountant, essentially, or you might not want to be
(12:43):
anything but sales, so how do wenurture that for you and what
does that pathway look like?
So what are some interestingthings you've done with
placement of people oridentifying unique skill sets?
Speaker 2 (12:54):
Well, I think the most meaningful thing I could
call out is you don't have tohave a college education to have
a great future in multifamily.
Having a college education willcertainly help you, but it
isn't a requirement.
And so if you're a young man orwoman looking at multifamily, I
would say come on in thewater's fine.
There is not a cap on yourpotential.
(13:16):
It really is going to come downto your work ethic, your
ability to learn on the fly, todevelop some grit.
When you can do all of that,you can advance very, very
quickly.
One thing we've recently doneand I guess even my story is an
example of that but I was ableto promote a regional to a
regional vice president.
(13:36):
She'd been a longtime employeeserving our organization very
well, Cheryl Davis, and to bringher into a regional vice
president role is an inspirationto those who have followed her
and watched her career over time.
And whenever I bump into ourmanagers and maintenance
supervisors, they cheer her,they're excited to see.
(13:57):
Like if I stick with assetliving, I can do what Cheryl
just did.
And when I came on the scene asthe vice president, there were
managers, we were together, weshared a regional, and so
they've said hey, thank you,You're one of us, you think like
us, you know what our needs areand so I can tend to those very
(14:19):
unique needs from my role,which is a job that I really
cherish.
I don't take thatresponsibility lightly.
I will not forget anytime soonwhat it's like to be on site and
how dynamic that role is andhow leaders need to serve people
very well in those positions.
But as far as my experience andhow I moved through the ranks
(14:42):
again, besides leaning intothings that are hard and serving
others well, bringing peoplewith you as you climb, it's just
education, making sure thatyou're staying ahead of the
day-to-day.
Like setting an ambitious goalfor yourself, quietly pursue it.
And getting my real estatelicense was an example of that.
(15:04):
I had it for several yearsbefore I became a regional, but
I knew that was the end game, soI just I chased it.
I didn't tell anyone about it,I just chased it down and I hung
it with game.
So I just I chased it, I didn'ttell anyone about it, I just
chased it down and I hung itwith the broker and I just
waited for my turn and then Iadvocated I let people know.
This is what I want to do whenthe time is right.
Oftentimes people wait to bediscovered and that does happen,
(15:27):
but it's the people who go toothers and say, hey, this is
what I love.
This is how I believe I canserve the organization better
and better.
When they advocate humblybecause you can do both for
themselves and make theirleaders aware of what they want
those people will elevateabsolutely.
So make sure you know what youwant and start taking the small
(15:50):
steps in that direction and talkto people who can help you get
there.
Speaker 1 (15:54):
Yeah, I think that's great advice because I think
oftentimes to your point.
We think you know, especiallyas women, maybe if I put myself
out there too much, I'm going tocome off as dissatisfied in my
current role.
Or you know, what does thatlook?
You know, is someone going tokind of shy away from that
because I'm being so adamantthat I want to grow quickly?
So is that something that youwould shy away from if someone
(16:14):
came to you and said, hey, Ireally, really wanna grow my
career, what does that look like?
Or what's the best way to posethat to someone like you to say
this is the career path I seefor myself?
Speaker 2 (16:25):
I think it could start with an email.
Honestly, I look back at amentor of mine.
I heard a great talk about howto approach a mentor and what
that would look like, becausementors are busy people, you
know.
If you want to be like thatperson, they're probably 10 or
two, you know, excuse me, adecade or two ahead of you in
(16:47):
their career and they have a lotof demand.
So it's nerve wracking to go tothat individual.
So how do you do that?
Approach them, send an email.
If you're at a networkingmeeting, say hello, find some
common ground and then just makethe ask and call it out.
Hey, I know you're really busy,but I like what you've done and
I'd hope I could learn just alittle from you and make the ask
(17:10):
small.
Could I meet with you once aquarter?
Could you recommend a book?
Could we talk about a book?
Just make the ask of their timevery, very small, but don't be
afraid to ask, and that's what Idid.
I reached out to a woman that Icould tell we had alignment in
values.
She was in multifamily, but shewas on the legal side and I
(17:31):
just said I'd like to know you alittle bit better.
What would that look like?
Would you talk with me onceevery quarter for an hour?
And she said absolutely.
And her vantage point on mycareer was really impactful and
her role as a wife and a motherand as an adoptive mom resonated
with my experience and so wehad that personal connection.
(17:54):
But yeah, it just starts with asmall ask being very respectful
of their time, but also bold.
You have to be bold, absolutely.
Speaker 1 (18:04):
So take the risk Absolutely.
I love that and I think theWomen's Summit is a great first
place to start.
I talk to a lot of people whoare a little bit more
introverted and they're like Idon't really know how to put
myself out there.
I don't really know how to bethat you know that bold as to
ask for something more than whatI have today, and so I think
seeing someone like you and justsaying, just ask, like what is
it going to hurt to just putyourself out there a little bit,
(18:26):
I think it's really smart andit's so, it's really impressive.
Speaker 2 (18:32):
Thank you, thank you, and if the person that you ask
can't help you, they possiblyknow someone who can, and that's
just how you build a network.
So don't let fear be a reasonto keep you from asking.
Speaker 1 (18:43):
Yeah, and I think all of us who have grown to love
this industry and been in it aslong as we have have had that
mentorship story where I couldname 10 mentors right now who
are my go-tos.
When something happens, rightthat you call on the phone and
you're like I don't really knowhow to navigate this situation.
Right, yeah, and so, and also,being a part of the council and
being a part of the summit, it'sjust a group that you could
(19:05):
call and you just know hey, I'mhaving some issues with build to
rent.
I can call, you know, and youkind of learn these resources
for different elements of whatyou're doing on a daily basis.
Agreed, it's great.
And so are you going to the AISummit too?
Speaker 2 (19:18):
Actually, I am putting it on my calendar.
I haven't registered yet, butyes, it's on my calendar, Okay
awesome.
Speaker 1 (19:23):
So that one's going to be awesome.
And are you doing anything funand interesting with technology?
Speaker 2 (19:30):
I know we were talking about Nectar Flow, which
we're all excited about.
Sure, we are.
We recognize at Asset Living,and I've long recognized that
human capital is our mostvaluable resource, but we need
to augment that.
We need to make sure thatpeople are able to stay focused
in their gifted areas, stay verypeople-facing and use
(19:51):
technology as really a supportsystem to drive the
infrastructure so that they canproduce a better and better
result without taking them outof play.
And so right now, I'd reallylike to learn how to lever AI
better from, like, a documentprep perspective for blogging,
for social media, where I'mtaking all of my marketing gurus
(20:12):
and letting them be veryfront-facing but then giving
them the support to create thedeliverables as quickly as
possible.
So AI is absolutely a focus atAsset Living right now.
Speaker 1 (20:22):
Yeah, and it's really smart to start with marketing.
Having been in marketing andseeing what Nectar, flow and
products that are introducing AIto marketing are doing, it's a
great way to dabble, to dip yourtoe in without going full-blown
AI right.
So I think marketing automationis definitely a very smart
first step, so you're doing allthe right things, it sounds like
.
Speaker 2 (20:42):
Thank you.
Yeah, centralized leasing.
We've centralized someplatforms, which has been very
productive for our clients aswell, and so looking to expand
that program.
Now that we have the platespinning very effectively, we
want to grow and scale thatprogram.
So there's of the joy in myrole is, as I develop meaningful
relationships with my clients,I start to know what they need
(21:21):
and I can customize and buildaround those needs.
And so where I have clientsthat are very innovative and
want to test and they're willingto take some risk with me and
we can create a plan together,I'm off to the races because
there's no pitch involved, we'rejust solving problems together.
But you have to take some riskwith me and we can create a plan
together.
I'm off to the races becausethere's no pitch involved, we're
just solving problems together.
But you have to take the timeto build those relationships
because everyone has a uniqueneed, and so, as a VP in Robert
(21:44):
Hicks' position, we really haveto curate these unique
experiences for each of theclients to make sure we're
delivering.
Speaker 1 (21:51):
I love that and I think it's really it's way less
common in very large you knowPMCs to be able to play or to
not see it that whatever we rollout here, we have to roll out
portfolio wide or we have toroll it out right.
So I think that the ability tosee every client as an
individual business that you'reserving, in a different way,
(22:13):
that's really going to give youa leg up on your competition,
because that's what that owneroperator wants to hear.
I hear you, I see your uniqueset of needs and I think I can
do something different here thanwhat we're offering.
You know, having thoseconversations and knowing that
they trust you at that level isso inspirational, I think, for
the people who think they haveto roll something out
(22:34):
portfolio-wide.
Speaker 2 (22:35):
Yeah, I mean certainly we're a brand and we
want the French fries to tastethe same right Wherever people
go.
So we do have a lot ofconsistency in our programming.
But we were built based onregional boutique shops and
operators so we still have thatvery customizable approach when
(22:55):
it makes sense for the clientand for the organization.
But you really have to haveyour hands on the real estate
and build those relationships toknow when those decisions work
and when they don't.
Speaker 1 (23:06):
That's smart, that's really smart, and I think that
that's probably why it's been sosuccessful for you guys to have
such a large portfolio thatoperates in that very custom way
.
I think that's incrediblyimpactful for a client to have
that opportunity.
So, thank you, we're having funwith it, that's great.
Well, we were so happy to haveyou here today and we're excited
(23:29):
to see you at the summit andhave you on stage and to have
you as a member as well.
So how can people get a hold ofyou?
Do you follow?
Speaker 2 (23:37):
you on LinkedIn.
Absolutely, linkedin is a greatplace.
I'm very interactive in themessaging.
I would love to get to knowanyone that listens and spends
time with you Could be a friendof mine.
So please do find me onLinkedIn and I hope to see
people at the Women's Summit, atthe AI Summit just great
connections, lots of goodfriends to be made and it's fun
(23:57):
to check in with each other ayear later Like, hey, this is
what we talked about last year.
What did you accomplish?
Like how close did you get tothat goal?
So I'm looking forward to thisyear's events as well.
Speaker 1 (24:07):
Thank you, rachel so much for sharing time with us
today and thank you for tuningin today.
Don't forget to grab your seatfor the AI and Innovation Summit
.
It is in December.
You can visitmultifamilyinnovationcom where
you can also learn about ourMultifamily Innovation Council
and how to join.
We'll see you on the nextepisode.
Thanks for joining the Multifamily Innovation
Podcast Today.
I have an amazing guest for youRachel Kish.
She is the Vice President ofOperations at Asset Living.
She is a Multifamily InnovationCouncil member, as well as an
attendee and speaker for ourWomen's Summit in September, and
we are so excited to hear fromher today about her career
(00:20):
journey, how she got to become aVP of Operations, and we are so
happy to have you here today,Rachel.
Speaker 2 (00:27):
Thank you for having me, Lauren.
Speaker 1 (00:27):
I'm excited for our conversation as am I, and so
let's start with your journeykind of where you began in
multifamily and kind of whereyour career took off from there.
Speaker 2 (00:36):
Oh, thank you for asking that question.
It's a fun one.
It begins, actually, with myhusband.
He was living in Arizona.
I was finishing school inIndiana.
He was living in an apartmentcommunity and he didn't know
anybody.
So he became that resident whowas just always in the office.
If you've been in multifamilyfor five minutes, you know that
resident.
(00:56):
Well, that was him.
In the course of his officeappearances he observed what
they did day to day and hecommented to the property
manager I think my fiance wouldbe really, really good at this
job.
And she said well, once you'remarried and she moves out, we've
got a lease up down the road.
Have her apply.
Well, I was finishing my degreein political science and
(01:17):
English, so a leasing careerwasn't top of mind for me.
I didn't even know what thatwas.
But we got married, I moved outand I just needed a little job.
So he said, hey, you should gomeet my friend, the property
manager and you can just do thispart-time while I finish school
.
So off to the races.
I got the leasing job.
I was making $10 an hour.
I was super excited.
(01:38):
It was my first really grown-upjob and about three weeks into
the lease-up I could see themagic that was multifamily.
And while I had intentions togo to law school, I decided that
there was something to thisapartment gig and I wanted to
hang around it a little bitlonger.
So I called my parents and Isaid I'm not going to go to law
(01:59):
school.
They were super supportive butalso very curious why I was
making such a rash life decision.
But I could see everything thatit could be.
Even though I couldn't havearticulated it at the time, I
was very excited about theadventure.
So here I am, almost 21 yearslater.
I love multifamily, I love thepeople, I love what we do, I
(02:20):
love who we serve, I love thepolitics.
I love the legal.
It's just very dynamic.
So that's how I got my start.
Speaker 1 (02:27):
What a great story.
And, like, all of us have thatstory right.
We just there's something somagical about multifamily.
I have people who were going tobecome doctors.
I've heard stories where I'mlike, and they just stopped
because they were like nope,there's something here.
Oh, absolutely, it's prettyinteresting.
So, and now you're a VP of ops,which is pretty amazing.
So I think our listeners aregoing to want to hear how were
(02:48):
you mentored?
How did you grow into that typeof role?
Speaker 2 (02:52):
Well, it probably began.
I'm a firstborn, so naturallybossy.
I have three younger sisters,so they would they would argue I
was born for the role and andthey're probably happy that I'm
not bossing them around.
But I love people, I lovevision, I love strategy.
I just had a call this morningwith a client and I indicated to
him that my greatest passion isjust finding the right people
(03:14):
and putting them in the rightroles, and I think that drive
has served me really well as Imoved throughout my career.
I could always find alignmentwith people and teams.
Most of the time there's thoseone-off situations, but I could
find alignment with people andteams and help others accelerate
(03:35):
their growth, and in theprocess I was able to accelerate
my own, and so here I am today,and that's exactly what people
need in leaders right now isthat mentorship.
Speaker 1 (03:43):
We talk about that a lot on the podcast, and it's
funny that you said that too,because I just had someone on
who was an owner-operator andthey literally said the best
thing my talent can do is beable to hire more talent that
fits the right roles.
Their staffing is top priority,and so I think the ability to
(04:03):
be able to identify the rightpeople and place them in the
right roles is kind of asuperpower.
Speaker 2 (04:08):
Well, and it gets easier over time.
As you're buildingorganizations or in some ways
rebuilding an organization, likewhat Robert Hicks and I are
doing at Asset Living in Phoenix, the first few hires you make
are super critical because theybecome gravity for your future
hires.
They possess the attractivequality, the magnetism to bring
(04:30):
more people like themselves intoyour organization.
So as I think about buildingteams, those first few are super
, super critical and after thatthe momentum picks up far more
quickly and you can just growexponentially.
But those first few you got toget those right Absolutely.
Speaker 1 (04:46):
And assetset is number two.
I want to say right, it is.
Yeah, you know your stuff, Iknow my stuff, I know this and,
by the way, robert, like we grewup, you know, I grew up, you
know, in multifamily underRobert at Alliance, and just
he's been such a mentor to somany people in this industry, so
Asset's really lucky to haveboth of you.
So.
So let's go towards kind ofwhat advice would you give women
(05:11):
that are early on in theircareer, that are maybe in that
leasing phase or the, you know,community manager phase, to
become, you know, someone youcan't begin to fathom,
especially?
Speaker 2 (05:24):
when you come in at entry level as a leasing
consultant and there will befrustrating, if not infuriating,
moments, and they're going tocome from a variety of sources.
(05:44):
It's going to come fromresidents, it's going to come
from prospects, it's going tocome from clients, it's going to
come from supervisors.
But it's those reallychallenging moments we are
inclined to resist.
We find reasons to quit, tolook in other directions, and
I've been there.
My husband's had to talk me offthe edge of the cliff.
But if you lean into thoseparticularly hard moments, you
(06:07):
can learn so much.
The other thing I would callout is the boss that is the most
difficult for you.
Maybe if you could go back intime you would undo it, maybe
you would pick a different boss.
That's the boss you can learn alot from, and sometimes they're
teaching you what not to do.
Very often that's the case, butthere's even nuggets that can
(06:28):
be delivered that are superpositive.
So rather than resisting thedifficult moments or the
difficult people, lean into it.
That's where I've found some ofmy greatest blessing and
benefit Absolutely.
Speaker 1 (06:40):
We talk about that a lot in the council, right?
Those moments of discomfortwhere you're like I'm not so
sure about this, those are themoments where you really lean in
and observe and actually gotowards what's actually making
you uncomfortable.
Oh for sure, that's how youinnovate, that's how you know
you're on to something usuallyAgreed, agreed.
So you are a council member, Iam, and so what benefit have you
(07:00):
gotten from being a member ofthe council?
Speaker 2 (07:03):
Well, it may sound superficial, but it's nice to
just work alongside of and speakwith people who experience my
kind of challenge.
Sometimes it's nice to justtake five minutes and say, hey,
yeah, that's me too, and feellike you're not crazy, that your
experience is not unique, andthen you can move away from that
(07:24):
pretty quickly.
You don't want to commiseratefor too long, but you do want to
know that you're not alone inmultifamily and that your
challenges are not unique.
There's hope, knowing thatyou're going to build and
fortify and execute, and you'renot and it is possible.
You're not alone.
So that's the greatest comfortI have found in the Innovation
(07:44):
Summit, but also just creativeideas.
You know we can becomeone-dimensional if we're not
careful, and so we need otherpeople to challenge our
paradigms and ask us toughquestions.
So we really have to delve alittle bit more deeply and we
ask those kinds of questions onthe council.
Speaker 1 (08:05):
That's great, and so has there been anything that's
been workshopped that you'vekind of brought back to Asset,
that you're like wow, this was agreat thought, or this was a
great guest speaker that had agreat idea For sure.
Speaker 2 (08:17):
I love our conversations around AI,
specifically Nectar Flow, reallyintrigued by that opportunity.
We've had some conversations inour organization around that
already.
Mentors I found mentors,Patrick Morin, all the way on
the East Coast.
He and I stay in touch andfound him to be a valuable
resource as both a professionaland just as a person.
So just building that network.
(08:39):
Also, creative ideas abouthealthcare, like really unusual
strategies that havehistorically not fit the
multifamily dynamic, but youlean into it and think, oh, how
can I lever that?
And so it just gives you somecreative pathways and it's the
kind of thing you'll have 10conversations where none of
(09:00):
those things work out, butyou'll stumble into magic and
it's in the council where youfind those little nuggets,
absolutely.
Speaker 1 (09:08):
And what's really cool is that everybody has such
a diverse background of whattype of you know communities
they represent, or are theyowners, are they operators, are
they investors?
So I think, getting thosedifferent perspectives and then
understanding which littlepieces because we always talk
about, it's not a one size fitsall.
Your company is unique, right,and so what can I bring, what
pieces of that can I bring to mycompany?
(09:30):
So I think that's reallyawesome.
Speaker 2 (09:31):
It is.
It has been very beneficial.
Speaker 1 (09:32):
Good.
And then you are also a memberof the Women's Summit and you're
on stage and you helpfacilitate some of those
conversations.
We're really excited to haveyou this year on the Women's
Summit stage.
Thank you.
What have you gottenhistorically from that event?
Speaker 2 (09:57):
And are there women you stay in touch with on a
regular basis?
Now what does that look likefor you?
I do.
I've made many friends.
I'll point out Tina West.
I had the opportunity tointerview her the first year
that I participated in the eventand what I loved about that
interaction was seeing how muchof a boss babe she is.
She really commands a room.
She certainly knows herbusiness.
She's a compelling leader.
People like to follow her, butshe's also a wife and a mom, and
I'm a wife and a mom.
I've been married just 21 years.
(10:17):
We just celebrated 21 years.
We have two children and it's alot to balance the kind of
career that I've I've developed,certainly the kind of career
that Tina has established andcreated.
How do we do all of that?
And really, what I learned fromher is we can't.
We have to have great peoplearound us who support us and
(10:39):
champion us, and I just I wasvery inspired by that talk.
So, yeah, fantastic women,you're gonna learn a lot
professionally, but you're gonnahave meaningful takeaways on a
personal level.
You'll have new strategies.
How do I approach thisrelationship?
How do I manage my kids?
How do I manage my schedule?
How can I lean into my vendorpartners to alleviate some of
(11:00):
the burden in my life.
It's just a very dynamicconversation.
I love being a part of thewomen's event.
That's awesome.
Speaker 1 (11:06):
I'm so glad you got that from that.
So what's next for you?
What are you excited aboutright now in your career, in
your future?
What does that look like?
Speaker 2 (11:17):
We're just doing the coolest stuff at Asset Living.
I had the opportunity to workat Asset Living Phoenix before
it was even Asset, so I knew theregional business that we had
done.
I had close connections withmuch of the team that was in
place, many of the clients notnecessarily institutional money
but great family offices, sothere was a kind of a
(11:39):
familiarity there that I reallyenjoyed.
But the vision and the scale ofwhat Ryan McGrath and Robert
Hicks are looking to do inPhoenix was very exciting to me.
So just opening new markets, wehave the whole West Robert and
I oversee the West division forRyan McGrath.
So going into new places withhim identifying teams, picking
(12:01):
up great clients, helpingexisting clients grow their
portfolios and new markets superexciting.
And the teams gosh.
I just love building teams.
So to have so much of theterritory to just as my
playground and to tinker is veryexciting for me.
Speaker 1 (12:18):
I love that and I think it's great too.
We talk a lot about the careerpath of the onsite team.
I started out my career as asales associate and then I was
kind of like, where do I go fromhere?
So I feel like you're theperfect person to champion
people, to help them identifywhat they're great at, and this
industry is so good at that, atsaying, hey, you might not want
to be an accountant, essentially, or you might not want to be
(12:43):
anything but sales, so how do wenurture that for you and what
does that pathway look like?
So what are some interestingthings you've done with
placement of people oridentifying unique skill sets?
Speaker 2 (12:54):
Well, I think the most meaningful thing I could
call out is you don't have tohave a college education to have
a great future in multifamily.
Having a college education willcertainly help you, but it
isn't a requirement.
And so if you're a young man orwoman looking at multifamily, I
would say come on in thewater's fine.
There is not a cap on yourpotential.
(13:16):
It really is going to come downto your work ethic, your
ability to learn on the fly, todevelop some grit.
When you can do all of that,you can advance very, very
quickly.
One thing we've recently doneand I guess even my story is an
example of that but I was ableto promote a regional to a
regional vice president.
(13:36):
She'd been a longtime employeeserving our organization very
well, Cheryl Davis, and to bringher into a regional vice
president role is an inspirationto those who have followed her
and watched her career over time.
And whenever I bump into ourmanagers and maintenance
supervisors, they cheer her,they're excited to see.
(13:57):
Like if I stick with assetliving, I can do what Cheryl
just did.
And when I came on the scene asthe vice president, there were
managers, we were together, weshared a regional, and so
they've said hey, thank you,You're one of us, you think like
us, you know what our needs areand so I can tend to those very
(14:19):
unique needs from my role,which is a job that I really
cherish.
I don't take thatresponsibility lightly.
I will not forget anytime soonwhat it's like to be on site and
how dynamic that role is andhow leaders need to serve people
very well in those positions.
But as far as my experience andhow I moved through the ranks
(14:42):
again, besides leaning intothings that are hard and serving
others well, bringing peoplewith you as you climb, it's just
education, making sure thatyou're staying ahead of the
day-to-day.
Like setting an ambitious goalfor yourself, quietly pursue it.
And getting my real estatelicense was an example of that.
(15:04):
I had it for several yearsbefore I became a regional, but
I knew that was the end game, soI just I chased it.
I didn't tell anyone about it,I just chased it down and I hung
it with game.
So I just I chased it, I didn'ttell anyone about it, I just
chased it down and I hung itwith the broker and I just
waited for my turn and then Iadvocated I let people know.
This is what I want to do whenthe time is right.
Oftentimes people wait to bediscovered and that does happen,
(15:27):
but it's the people who go toothers and say, hey, this is
what I love.
This is how I believe I canserve the organization better
and better.
When they advocate humblybecause you can do both for
themselves and make theirleaders aware of what they want
those people will elevateabsolutely.
So make sure you know what youwant and start taking the small
(15:50):
steps in that direction and talkto people who can help you get
there.
Speaker 1 (15:54):
Yeah, I think that's great advice because I think
oftentimes to your point.
We think you know, especiallyas women, maybe if I put myself
out there too much, I'm going tocome off as dissatisfied in my
current role.
Or you know, what does thatlook?
You know, is someone going tokind of shy away from that
because I'm being so adamantthat I want to grow quickly?
So is that something that youwould shy away from if someone
(16:14):
came to you and said, hey, Ireally, really wanna grow my
career, what does that look like?
Or what's the best way to posethat to someone like you to say
this is the career path I seefor myself?
Speaker 2 (16:25):
I think it could start with an email.
Honestly, I look back at amentor of mine.
I heard a great talk about howto approach a mentor and what
that would look like, becausementors are busy people, you
know.
If you want to be like thatperson, they're probably 10 or
two, you know, excuse me, adecade or two ahead of you in
(16:47):
their career and they have a lotof demand.
So it's nerve wracking to go tothat individual.
So how do you do that?
Approach them, send an email.
If you're at a networkingmeeting, say hello, find some
common ground and then just makethe ask and call it out.
Hey, I know you're really busy,but I like what you've done and
I'd hope I could learn just alittle from you and make the ask
(17:10):
small.
Could I meet with you once aquarter?
Could you recommend a book?
Could we talk about a book?
Just make the ask of their timevery, very small, but don't be
afraid to ask, and that's what Idid.
I reached out to a woman that Icould tell we had alignment in
values.
She was in multifamily, but shewas on the legal side and I
(17:31):
just said I'd like to know you alittle bit better.
What would that look like?
Would you talk with me onceevery quarter for an hour?
And she said absolutely.
And her vantage point on mycareer was really impactful and
her role as a wife and a motherand as an adoptive mom resonated
with my experience and so wehad that personal connection.
(17:54):
But yeah, it just starts with asmall ask being very respectful
of their time, but also bold.
You have to be bold, absolutely.
Speaker 1 (18:04):
So take the risk Absolutely.
I love that and I think theWomen's Summit is a great first
place to start.
I talk to a lot of people whoare a little bit more
introverted and they're like Idon't really know how to put
myself out there.
I don't really know how to bethat you know that bold as to
ask for something more than whatI have today, and so I think
seeing someone like you and justsaying, just ask, like what is
it going to hurt to just putyourself out there a little bit,
(18:26):
I think it's really smart andit's so, it's really impressive.
Speaker 2 (18:32):
Thank you, thank you, and if the person that you ask
can't help you, they possiblyknow someone who can, and that's
just how you build a network.
So don't let fear be a reasonto keep you from asking.
Speaker 1 (18:43):
Yeah, and I think all of us who have grown to love
this industry and been in it aslong as we have have had that
mentorship story where I couldname 10 mentors right now who
are my go-tos.
When something happens, rightthat you call on the phone and
you're like I don't really knowhow to navigate this situation.
Right, yeah, and so, and also,being a part of the council and
being a part of the summit, it'sjust a group that you could
(19:05):
call and you just know hey, I'mhaving some issues with build to
rent.
I can call, you know, and youkind of learn these resources
for different elements of whatyou're doing on a daily basis.
Agreed, it's great.
And so are you going to the AISummit too?
Speaker 2 (19:18):
Actually, I am putting it on my calendar.
I haven't registered yet, butyes, it's on my calendar, Okay
awesome.
Speaker 1 (19:23):
So that one's going to be awesome.
And are you doing anything funand interesting with technology?
Speaker 2 (19:30):
I know we were talking about Nectar Flow, which
we're all excited about.
Sure, we are.
We recognize at Asset Living,and I've long recognized that
human capital is our mostvaluable resource, but we need
to augment that.
We need to make sure thatpeople are able to stay focused
in their gifted areas, stay verypeople-facing and use
(19:51):
technology as really a supportsystem to drive the
infrastructure so that they canproduce a better and better
result without taking them outof play.
And so right now, I'd reallylike to learn how to lever AI
better from, like, a documentprep perspective for blogging,
for social media, where I'mtaking all of my marketing gurus
(20:12):
and letting them be veryfront-facing but then giving
them the support to create thedeliverables as quickly as
possible.
So AI is absolutely a focus atAsset Living right now.
Speaker 1 (20:22):
Yeah, and it's really smart to start with marketing.
Having been in marketing andseeing what Nectar, flow and
products that are introducing AIto marketing are doing, it's a
great way to dabble, to dip yourtoe in without going full-blown
AI right.
So I think marketing automationis definitely a very smart
first step, so you're doing allthe right things, it sounds like
.
Speaker 2 (20:42):
Thank you.
Yeah, centralized leasing.
We've centralized someplatforms, which has been very
productive for our clients aswell, and so looking to expand
that program.
Now that we have the platespinning very effectively, we
want to grow and scale thatprogram.
So there's of the joy in myrole is, as I develop meaningful
relationships with my clients,I start to know what they need
(21:21):
and I can customize and buildaround those needs.
And so where I have clientsthat are very innovative and
want to test and they're willingto take some risk with me and
we can create a plan together,I'm off to the races because
there's no pitch involved, we'rejust solving problems together.
But you have to take some riskwith me and we can create a plan
together.
I'm off to the races becausethere's no pitch involved, we're
just solving problems together.
But you have to take the timeto build those relationships
because everyone has a uniqueneed, and so, as a VP in Robert
(21:44):
Hicks' position, we really haveto curate these unique
experiences for each of theclients to make sure we're
delivering.
Speaker 1 (21:51):
I love that and I think it's really it's way less
common in very large you knowPMCs to be able to play or to
not see it that whatever we rollout here, we have to roll out
portfolio wide or we have toroll it out right.
So I think that the ability tosee every client as an
individual business that you'reserving, in a different way,
(22:13):
that's really going to give youa leg up on your competition,
because that's what that owneroperator wants to hear.
I hear you, I see your uniqueset of needs and I think I can
do something different here thanwhat we're offering.
You know, having thoseconversations and knowing that
they trust you at that level isso inspirational, I think, for
the people who think they haveto roll something out
(22:34):
portfolio-wide.
Speaker 2 (22:35):
Yeah, I mean certainly we're a brand and we
want the French fries to tastethe same right Wherever people
go.
So we do have a lot ofconsistency in our programming.
But we were built based onregional boutique shops and
operators so we still have thatvery customizable approach when
(22:55):
it makes sense for the clientand for the organization.
But you really have to haveyour hands on the real estate
and build those relationships toknow when those decisions work
and when they don't.
Speaker 1 (23:06):
That's smart, that's really smart, and I think that
that's probably why it's been sosuccessful for you guys to have
such a large portfolio thatoperates in that very custom way
.
I think that's incrediblyimpactful for a client to have
that opportunity.
So, thank you, we're having funwith it, that's great.
Well, we were so happy to haveyou here today and we're excited
(23:29):
to see you at the summit andhave you on stage and to have
you as a member as well.
So how can people get a hold ofyou?
Do you follow?
Speaker 2 (23:37):
you on LinkedIn.
Absolutely, linkedin is a greatplace.
I'm very interactive in themessaging.
I would love to get to knowanyone that listens and spends
time with you Could be a friendof mine.
So please do find me onLinkedIn and I hope to see
people at the Women's Summit, atthe AI Summit just great
connections, lots of goodfriends to be made and it's fun
(23:57):
to check in with each other ayear later Like, hey, this is
what we talked about last year.
What did you accomplish?
Like how close did you get tothat goal?
So I'm looking forward to thisyear's events as well.
Speaker 1 (24:07):
Thank you, rachel so much for sharing time with us
today and thank you for tuningin today.
Don't forget to grab your seatfor the AI and Innovation Summit
.
It is in December.
You can visitmultifamilyinnovationcom where
you can also learn about ourMultifamily Innovation Council
and how to join.
We'll see you on the nextepisode.
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