In this episode of No Vacancy, host Taylor Avakian sits down with Bo Drake, principal at Drake Real Estate Group and a seasoned LA investor. Bo takes us through his journey from brokerage to owning and managing multifamily properties, sharing the lessons he's learned and the strategies he uses to build lasting success in LA's competitive apartment market.   Bo reveals why real estate is a long game, how he’s scaled his property management firm, and the importance of diversified revenue streams in today’s market. Whether you're an experienced investor or just getting started, Bo’s insights will help you navigate the complexities of LA apartment investing and grow your portfolio.   Highlights:   Why you need to think long-term to succeed in LA real estate How Bo went from brokerage to managing thousands of apartment units The hidden challenges of managing multifamily properties and what to avoid Building trust with clients and why it’s key to long-term growth Watch now and discover Bo’s secrets to thriving in LA’s multifamily investment landscape!   1:03 - Bo Drake’s Path to Building a Real Estate Firm in LA 3:03 - Early Career Wins and Struggles in LA Real Estate 6:03 - Lessons from College Sports to Real Estate Sales 8:03 - How Los Angeles Shapes a Unique Multifamily Investment Landscape 10:03 - Creating Drake Real Estate Group to Serve LA’s Apartment Owners 12:03 - Property Management Insights: Handling LA’s Tenant Challenges 15:03 - Secrets to Building Client Trust in Los Angeles Real Estate 17:03 - Dealing with Problematic Tenants in LA 20:03 - Maximizing LA Apartment Value with Cost-Effective Upgrades 23:03 - Los Angeles Neighborhoods on the Rise: Investor Hot Spots 25:03 - The Importance of Transparency in LA Property Management 27:03 - Managing Tenant Expectations in Los Angeles’ Competitive Market 30:03 - Smart Tech Upgrades: Do They Really Boost Rent in LA? 32:03 - How AI and Automation are Changing LA Property Management 34:03 - Cost-Saving Hacks with Virtual Assistants for LA Landlords 36:03 - Insurance Challenges for Los Angeles Multifamily Owners 39:03 - Boost Tenant Retention: LA-Specific Strategies That Work 41:03 - Avoiding Common Investment Pitfalls in LA’s Multifamily Market 44:03 - The Impact of LA Rent Control on Apartment Management 46:03 - Smart Tenant Selection to Boost LA Property Value 49:03 - Market Trends Every LA Investor Should Watch in 2024 51:03 - Long-Term Strategies for LA Real Estate Success   This episode is brought to you by Henry AI (https://hubs.ly/Q02ShzRW0).   Henry is the first AI copilot built specifically for commercial real estate brokers. Henry automates the entire deal deck creation process for OMs and BOVs helping brokers win more deals without doing more work. Henry builds every slide including the market summary, executive summary, comps analysis, aerial markups, and even abstracts leases. Sign up for Henry today at https://hubs.ly/Q02ShzRW0   Never miss an episode! Subscribe on your preferred platform and rate our show ⭐⭐⭐⭐⭐: 🍏 Apple Podcast: https://podcasts.apple.com/us/podcast/no-vacancy-with-taylor-avakian/id1768889293 🎧 Spotify: https://open.spotify.com/show/0mqgyJK00yivmqfH8zzLQW?si=f5ab2abbbe734fd7 📺 YouTube: https://www.youtube.com/tayloravakian   Visit us at 🌐 thegroupcre.com   Connect with us on social: X: @TAYVAY_ IG: @Taylor_Avakian FB: https://www.facebook.com/people/Taylor-Avakian-CRE-Broker/61557266265091/ LI: https://www.linkedin.com/in/tayloravakian/

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