P&I Real Estate Management, LLC: Company Profile

Background

Overview

P&I Real Estate Management, LLC is a full-service property management company based in Tyler, Texas, specializing in both commercial and multifamily property management services. Established in 2020, the company is locally owned and operated by property investors who understand the significance of maximizing returns for property owners. Their mission is to not only manage properties but also to enhance their profitability.

Mission and Vision

The company's mission is to provide comprehensive property management solutions that increase the bottom line for property owners. Their vision is to be the trusted partner for property owners in East Texas, offering reliable and efficient management services that add value to their investments.

Primary Area of Focus

P&I Real Estate Management focuses on managing commercial and multifamily properties, connecting investors with qualified renters, and handling all aspects of property management, including listings, marketing, leasing, tenant screening, rent collections, and maintenance.

Industry Significance

Operating in the East Texas region, P&I Real Estate Management plays a crucial role in the local real estate market by offering professional property management services that contribute to the growth and stability of the community's real estate sector.

Key Strategic Focus

Core Objectives

• Maximizing ROI: Implementing strategies to decrease maintenance and logistics expenses while increasing net operating income for property owners.

• Comprehensive Management: Providing end-to-end property management services, including marketing, leasing, tenant relations, and maintenance.

• Technological Integration: Utilizing advanced property management tools to streamline operations and enhance service delivery.

Specific Areas of Specialization

• Commercial Property Management: Overseeing office buildings, retail centers, and industrial properties.

• Multifamily Property Management: Managing apartment complexes and residential units.

Key Technologies Utilized

• AppFolio Software: Employing AppFolio to streamline communication between property managers, owners, and tenants, simplify marketing, and fill vacancies efficiently.

Primary Markets Targeted

The company primarily serves property owners in Tyler, Longview, and the broader East Texas area, focusing on both commercial and residential properties.

Financials and Funding

As a privately held company, P&I Real Estate Management has not publicly disclosed detailed financial information or funding history. The company operates with a focus on maximizing returns for property owners through efficient management and strategic planning.

Pipeline Development

P&I Real Estate Management continues to expand its portfolio by acquiring and managing additional commercial and multifamily properties in the East Texas region. The company is committed to enhancing property values and providing quality living and working spaces for tenants.

Technological Platform and Innovation

Proprietary Technologies

• AppFolio Property Management Software: A cloud-based platform that facilitates online rent payments, maintenance requests, and efficient communication between all parties involved.

Significant Scientific Methods

• Data-Driven Decision Making: Utilizing analytics to inform property management strategies, optimize pricing, and improve tenant satisfaction.

Leadership Team

Russell Patterson, SIOR

• Position: Founder and Managing Partner

• Professional Background: A Tyler native with extensive experience in commercial real estate, Russell founded Patterson Commercial Property Group in 2010. He holds a Master's Degree in Education Administration from The University of Texas at Tyler.

• Contributions: Russell has been instrumental in negotiating successful transactions with diverse tenants and is actively involved in the Crohn’s & Colitis Foundation of America.

Cole Ihrig, SIOR

• Position: Co-Founder and Managing Partner

• Professional Background: Cole co-founded P&I Real Estate Management in 2020. He has a background in commercial real estate and holds a bachelor's degree in finance with specializations in real estate and professional sales from the University of Alabama.

• Contributions: Cole oversees the company's day-to-day operations and strategic direction. He is also a member of the Society of Industrial and Office Realtors (SIOR) and serves on the Board of Trustees for Catholic Charities – Diocese of Tyler.

Allen Bell

• Position: Senior Property Manager

• Professional Background: With over 40 years in the commercial real estate business, Allen has managed numerous office buildings and retail centers. He has been actively involved in the local community, serving in various capacities with the City of Tyler and other organizations.

• Contributions: Allen brings extensive experience in property management and community engagement to the team.

Jaremy Markert

• Position: Building Engineer

• Professional Background: Jaremy has over six years of experience in Class A office buildings and holds four EPA certifications. He has worked on over 30 different buildings and properties in the Austin area.

• Contributions: Jaremy is dedicated to continually improving building operations and tenant relations.

Dominic Tucker

• Position: Assistant Property Manager & Leasing Agent

• Professional Background: Dominic joined P&I Real Estate Management in January 2024, marking the beginning of his real estate career. He is pursuing a bachelor's degree in Finance at the University of Texas at Tyler.

• Contributions: Dominic manages residential leasing and assists clients with finding and leasing homes.

Jill Wiggins

• Position: Property Accountant

• Professional Background: Jill has 22 years of experience in financial accounting and office management, having held various positions at Kluber Lubrication in Tyler. She holds a bachelor's degree in business administration from LeTourneau University.

• Contributions: Jill ensures accurate financial oversight and strategic financial planning for the company's diverse portfolio of properties.

Competitor Profile

Market Insights and Dynamics

The property management industry in East Texas is characterized by a mix of local and regional firms offering a range of services from residential to commercial property management. The market is competitive, with companies striving to provide value-added services to attract property owners and tenants.

Competitor Analysis

• Cushman & Wakefield: A global real estate services firm with a significant presence in Texas, offering comprehensive property management services.

• FPI Management, Inc.: Operating across 23 states, FPI Management is a large property management company with a diverse portfolio.

• RPM Living: With a focus on quality service, RPM Living manages over 225,000 units across more than 45 markets in the United States.

Strategic Collaborations and Partnerships

P&I Real Estate Management collaborates with Patterson Commercial Property Group, its sister company, to offer real estate brokerage services, assisting clients in finding investment properties and expanding their portfolios.

Operational Insights

P&I Real Estate Management differentiates itself through its local expertise, personalized service, and commitment to maximizing returns for property owners. The company's use of advanced property management tools and its focus on community involvement provide a competitive edge in the East Texas market.

Strategic Opportunities and Future Directions

The company aims to expand its portfolio by acquiring and managing additional commercial and multifamily properties in East Texas. By leveraging its local knowledge and technological capabilities, P&I Real Estate Management is well-positioned to enhance property values and provide quality living and working spaces for tenants.