In this show, we share time not only with David Falk Jr, Wendy Drucker, a Managing Director with, Drucker & Falk and Alex Wong leading up Technology.
David Falk Jr has a deep understanding of development, designing, planning, financing, and stabilizing new apartment communities. Now, as Managing Director of Drucker & Falk, his main focus is due diligence, finance, equity partnerships, development, syndication, and brokering multifamily investments.
Wendy Drucker who as a Certified Property Manager® through the Institute of Real Estate Management focuses on new business development, multifamily management, the supervision of new construction and lease-up, and apartment community renovations… and sitting to her left is Alex Wong Director of Technology with Drucker & Falk who shares the human element of technology and adoption with new initiates with people.
Drucker & Falk is a third generation, family-owned firm specializing in multifamily fee management, investment and development services, commercial brokerage and commercial property management services. They were one of the first organizations to earn the Accredited Management Organization designation from the Institute of Real estate Management.
In this show we talk about:
- How the Drucker & Falk History has developed into modern day Multifamily management theories
- The perfect balance between the owner needs and the residents needs to deliver value
- We look inside at how Drucker & Falk values their employees
- The Multifamily due diligence process in their more than 1 Billion is transactions
- Producing financial success and having impact beyond revenue
- How key leaders worked in all aspects in the business for a deep holistic knowledge
- Innovation and details and how to mentor these strengths
- Attracting the best people with a career path, coaching and mentorship
- We talk how important Multifamily property management has been during the 14 different cycles in real estate
- The value of risk management and the balance of risk theory with debt levels, debt coverage ratios and how to capitalize capital improvement programs up front to minimize issues in a downturn market
- David Falk Jr shares his typical day and how he creates value for investor owners
- Wendy Drucker shares what she looks for when building a team and the key characteristics she looks for in people
In Multifamily acquisitions & management, if you do the correct due diligence on a property over time you will make money. If you can manage it correctly, you will come out of the economic cycle. Good management, good purchasing and great due diligence will allow you to have something of great value.” -David Falk, Jr.