New Business Venture? Discover How MGA Elevates Your Growth, According to Worth Street Partners

Worth Street Partners 2024 Client Feature

4 min read

In the heart of Dallas, a city known for its vibrant economy and dynamic real estate market, Worth Street Partners is carving out its unique position in the multifamily property management sector. Founded in 2018 by Matthew Flume and Cole Burdette, Worth Street Partners embarked on a mission not just to own and operate multifamily properties but to preserve affordable housing for the workforce.

Today, with over 600 units across six properties, their portfolio has expanded into a comprehensive vision that includes managing these properties through their in-house team, underscoring their dedication to enhancing operational efficiency and maintaining a focus on affordability and community service.

MGA and Worth Street: A Partnership Born Out of Necessity and Vision

Before joining forces with MGA, Worth Street handled everything in-house, from onsite management to backend operations. And like many management teams handling such a wide variety of critical responsibilities, they were getting completely bogged down by these backend operations, like accounting and finance-related tasks. Enter MGA.

The collaboration with MGA arose from a critical need to optimize these daily accounting and finance operations, freeing up valuable time for property managers and allowing them to focus on revenue-generating activities such as rent collection and timely work order management. “MGA has been an integral piece in helping our property managers become more efficient,” Cole says, highlighting the value brought by outsourcing and automating certain processes.

Learn more about how outsourcing your back offices to MGA can help you thrive.

Beyond Accounting: MGA’s Comprehensive Support Fuels Worth Street’s Innovation Through Collaboration

The partnership with MGA has been about more than just efficiency; it’s been about growth, foresight, and building a foundation for the future. Worth Street Partners praised MGA’s proactive approach, from forecasting potential needs to providing solutions before the needs even arise. This anticipatory strategy has been key in developing a flexible, robust framework for Worth Street’s expanding property management company. “Having MGA as part of our network has been powerful for us,” Cole remarks, acknowledging the significance of referrals and the seamless integration of services like a PEO platform.

“Building out this company from scratch, we’ve been flexible in all the processes and adjoining software, and MGA has been a huge value-add for us in terms of capabilities. They know the industry and are well-equipped with technology recommendations, referrals, and so much more. When you start a company, there are many needs that you haven’t thought through, but MGA has done a great job forecasting needs that we might have and offering solutions before we even know we need them. They have a very collaborative yet professional approach.” – Cole Burdette, Worth Street Partners

A Future Built on Trust and Mutual Success

As Worth Street Partners looks toward the future, their relationship with MGA is representative of their growth journey. “It’s more of a partnership than a service,” Cole notes, appreciating the valuable insights and advice received. This collaboration allows Worth Street to focus on business development and expansion while trusting MGA to help manage the complexities of running a growing company.

Worth Street Partners’ story is one of innovation, efficiency, and strategic growth. As they continue to grow and evolve, their partnership with MGA remains a cornerstone of their success, embodying a shared vision for excellence and innovation in real estate management.

MGA Is Not Just a Service Provider but a Trusted Partner to Walk Alongside Your Business

As Worth Street Partners continues to grow and find their footing, they underscore the importance of identifying trusted partners who can facilitate this growth. MGA stands out as not just a service provider but as a partner walking alongside Worth Street, offering insights, support, and solutions tailored to their evolving needs.

Read more about how we work with others in the real estate industry.

Can we help your growing company with needs similar to Worth Street? Or do you have your own set of unique problems we can help tackle? Either way, we are here to make the complex simple.

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April 30, 2024