J Darrin Gross

I'd like to ask you, Michael Puliot, what is the BIGGEST RISK?

Michael Pouliot

The biggest risk, as it relates to property, right, or, you know, property, the property business, so yeah, the first thing I thought of was I think the biggest risk is, you know, really having strong operations, honestly, and then that comes back to your people, your process, and your technology, and so really, you know, property management, managing assets, although, yeah, obviously we raise capital from individuals or institutions to buy these properties day to day. Our life is about managing, you know, property and day to day property, and then also the business plans and what we've promised investors and the business plan that we struck when we closed, and so the, as your, as you continue to grow the business, you need to continue to grow as a business leader, and then so all your people, and so that I think is your biggest risk is getting to a getting growing too fast, potentially, or just allowing the having operational systems that just are not equipped to handle the stage of your company, and so, and I think that can happen very quickly, that those things can fall out of lockstep as you grow, or as you know, you just don't take, you know, you take your eye off the ball sometimes, and so I think it's really important to make sure that you've got people who are focused on on the day, people who are focused on the week, the month, the quarter, the year, and the decade. You don't have to have that many people focused on the decade, but you should have someone, or a couple people, who are just so that we know where we're going, and that way you know the business can can grow in a sustainable way with a good culture. People like working there, and I think that's the biggest risk over time to generating or creating and sustaining a business is having a good culture. People are thriving and they feel fulfilled, they can grow, and if you provide that, then you don't have to do, you don't have to become, you don't have to be the hero, you don't have to always jump in and help with things. In fact, doing that actually hurts, you know, the ability for the for the business to be successful. We were talking about our children before we started here, and it's not unlike a child, it's like you can't always step in and. And tie the shoes, just, you know, it's okay if, if we're five, you know, we'll just be five minutes late, we'll just work on this, and then you'll learn the skill, and now you can tie your shoes, and so I think there's a patience and a willingness and a space to take risk and make mistakes, and all of that is kind of in that culture realm, which I think is, you know, probably I think the biggest risk in property.

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