Adam Beckstedt, VP Acquisitions, Bradly Hopkins, VP Property Management, Robert Ritzenthaler, CEO
Hello and welcome to the CEO Blog! Robert here, CEO of REM Capital.
It’s official. We’re no longer a startup company. We’ve tested our model and now it’s time to build it out in a very careful and concerted way. As we wrap up the first quarter of 2021 with our 10th deal on the books, I find myself looking back on the amazing growth we’ve had. And looking back usually provides a platform for looking forward. I’ve spent the past months really thinking about where we’re headed, and I feel the tremendous personal responsibility of overseeing this company. I am so grateful for the opportunity to lead such an organization.
Our first deal was mid-2018. Less than three years later, we’ve grown to $160MM assets under management, $60MM of investor capital invested in those assets, and over 30 dedicated employees caring for those assets around the country and around the clock. Not to mention our investors, who are an integral part of that! And all this work provides homes for around 3,000 people. WOW – isn’t that awesome!?
As most of you know, when we started over three years ago, I was also handling the accounting and finance for Lifetime CashFlow Academy. I was also reviewing deals, coaching, and helping grow the coaching program and platform. It was a ton of work, but it was also very rewarding helping so many people get into the multifamily real estate arena.
I also really enjoyed flying around the country and meeting many of you (and I’m looking forward to doing that again someday soon!). However, with the growth of REM and coaching, there came a point where my priorities (at home, for one) were no longer in the right place.
And so, with a bit of bittersweet, I made the decision to transition away from the coaching program completely and focus solely on REM. I strongly felt that in order to keep my personal priorities in the right place, while also being successful at running REM, it was time to make the transition. And in that new role, it’s an exciting time as we transition to what I’m calling REM 2.0.
Part of the near-term plan is bringing on two new employees next month at the corporate level. We’re bringing on a 20-year accounting veteran who previously helped another real estate investment company go from zero to $3B in 10 years. This will help me step out of the daily accounting & finance role and hand it off to someone whose sole focus will be ensuring our books and records remain rock solid.
We’re also bringing on a 15-year operations veteran who helped a top regional real estate firm grow from a startup to over 300 employees in 10 years. This person will support Tara in getting the million things that need done each day on the operational side of the house.
That’s just the beginning as we prepare for the next phase of excellence. My goal is to build REM into an industry leader as we stick to our core mission of the right people and the right deals.
There’s so much more to say about REM 2.0, but bottom line, I want you to know that my priority is your trust in us as a team to manage your real estate investment as we said we would. I’m committed to that more than ever.