Paul Gozzo, Director of Business Development for Residential Capital Management
Paul Gozzo manages his work from his office in Austin, Texas, and RCM headquarters in Atlanta, Georgia, plus travelling: meeting with investors, developers, and managers.
Paul Gozzo divides his time between the office and the road where he meets with institutional investors, home developers, and property managers. Previously most institutional investors in this asset class were focused on purchasing, renovating and stabilizing single family homes, but lately Paul has seen an increase in the demand for the build-to-rent model, “Funds are looking for a blend of new units to add to their aged portfolios and it makes sense when the process can be controlled from the start, with the right builder, milestones can be set and expectations met. So, it is also a way to plan ahead for the deployment of capital in a standardized fashion”.
The acquisition team at RCM compiles information to determine rents, set values, review titles, walk units, create videos, and estimate renovations on over 8,000 properties a month, setting yield expectations and underwriting metrics in multiple markets. The construction group at RCM operates under the name, Ameritrust Residential Services. The property management team at RCM leased 320 units a month in 2013 with rents ranging from $750 per month to over $4,000 a month and the average days on market (DOM) for rent ready homes being 34 days. In addition to traditional maintenance services on their managed portfolio, the company also provides property preservation services for asset managers and both foreign and domestic investment groups.
Central to all operations at RCM is the company’s proprietary software that was developed specifically to fulfill the needs of institutional investors in the single family home asset class. Recognizing both the need and gap in current out of the box applications, RCM has developed a full acquisition to disposition application to provide both high level overview and granular work-flow process for this business model.
As the Director of Business Development for Residential Capital Management, Paul Gozzo (http://about.me/
Page Updated Last on: Sep 02, 2014