Jack Petrick is a multifamily syndicator who focuses on value-add properties. With an extensive background as a luxury home builder and single family flipper, he developed expert construction crews and his own property management team to run his large multifamily portfolio. He uses this expert knowledge to force appreciation and turn units at reasonable rates, which ultimately translates into higher NOI’s. Today, Jack acts as the President of Petrick Property Group, a firm that specializes in value-add multifamily acquisitions in the Midwest.
In this episode, we dive into how to build out a construction crew – from selecting low-cost materials to vetting out the right people for your team – and the systems and processes he used to create his rehab crews. Additionally, Jack shares specifics on what he learned running construction crews in the world of multifamily – and the pitfalls for new investors to avoid.