Investors are known for following the money, but for busy property owners and managers, taking care of the back office can take time away from other priorities.  Kenneth and Rachael Wick, founders of HigherPoint Investing, have always been passionate about connecting investors to the right investments and building their clients’ financial legacies. But when they started their own multifamily investment firm, they found that relying on traditional property management processes didn’t perfectly suit their needs. 

Realizing the need for a more stable solution, the Wicks were recommended to use Ascent for their Minnesota-based real estate investment firm. Both natives of the state and with54 years’ combined experience, the couple began investing in real estate in2004. Their investment properties have included multifamily and single family homes. Their top priority is to acquire large multifamily properties through syndication which have above average returns for their investors.  

Rachael said they were impressed by Ascent's ability to have control over invoicing, as well as Ascent’s expertise in keeping a close eye on every penny going out and every cent coming in. "We switched to a property manager that would allow us to use Ascent. I have faith now that the reports are being done correctly," said Rachael.

Working with Ascent has proven to be a positive experience for Higher Point Investing."Ascent is really good to work with in terms of making sure it's done quickly and correctly. We aren't accountants, but we are glad we don't have to be accountants," said Ken.

For Higher PointInvesting, being able to collaborate with the professionals at Ascent has been a highlight for the company. Through Ascent, the Wicks have been able to discuss financials and make sure they are in alignment with their projected investment goals. "I personally like being able to call and talk through what category we should classify our expenses as,” said Ken. “It keeps us in line with what we had projected to our investors." 

Ascent generates end-of-month financial reports, which the Wicks say has added a professional touch to their books. “Reports are comprehensive and of high quality, reflecting a whole other level of professionalism,” said Ken. "We understood budgets prior, but through our partnership with Ascent, we have been able to put together an even more comprehensive budget. We also now have a clearer picture of where our funds are going."

Without Ascent, the Wicks said they would not have been as up to date with their financials as they are now. "I like to see where the money is going and the technology that Ascent uses helps us keep an eye on financials. It helps assure that our investors are happy," said Ken.

Ken said that HigherPoint Investing’s partnership with Ascent Multifamily Accounting has provided them with more peace of mind, accurate financial reporting, and a heightened level of professionalism, “With the help of Ascent, we have gained a clearer understanding of our financials which has allowed us to make more informed decisions and keep our investors satisfied, “said Ken.

Keeping up with a fast-growing company and new industry can be challenging, which is why Ascent serves as a reputable resource for up-and-coming property owners and managers to succeed. For more information on outsourcing your back office and scaling your operations with Ascent’s help, call me at 702-467-0789 or email meat mike@ascentmfa.com.