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How to Track and Cut Apartment Expenses with Chris Wise, Ep. 769

Multifamily Insights

Release Date: 12/02/2025

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Chris Wise is a Navy veteran, attorney, and founder of Wise Capital—a property technology company focused on upgrading Class C multifamily housing through in-house AI, IoT, and data systems. By combining real estate ownership with smart software development, he’s redefining operations and improving tenant experiences across older multifamily assets. Based in Louisville, Kentucky, Chris brings a unique blend of military discipline, legal expertise, and tech innovation to the multifamily investing space.

 

 

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

 

 

Key Takeaways

  • How Chris transitioned from Navy to law to real estate

  • The North Star guiding his career pivots: social impact

  • Why predictive maintenance is essential in Class C properties

  • Using IoT and internal tech to reduce costs and extend asset life

  • Real examples of tracking power and water consumption to prevent failures

  • How in-house product development helps maintain affordability

 

 

Topics

From the Navy to Real Estate: A Career of Purpose

  • Chris’s path from Navy service to law school and legal practice

  • How his passion for social impact shaped his professional pivots

Solving Problems Through Technology

  • Founding a software and marketing firm to solve internal inefficiencies

  • Learning to code and build tools to reduce costs for small businesses

The Rise of Wise Capital

  • How Chris combined real estate and tech to launch Wise Capital

  • Why Class C properties were the ideal target for smart upgrades

IoT and Predictive Maintenance in Action

  • Identifying failing systems before they break: water, power, HVAC

  • Using public product data and power consumption to monitor appliances

  • Replacing $0.10 fuses instead of full appliances

Reducing Costs Without Raising Rents

  • Keeping rent stable by slashing expenses through innovation

  • Why many “smart” solutions don’t make sense financially—and how to build better

Vertically Integrated Operations and Property Management

  • Why Chris keeps property management in-house

  • Hidden costs in third-party management that eat into NOI

Common Missteps in Value-Add Projects

  • Misplaced renovation priorities (e.g., ignoring plumbing or sinks)

  • Focus on function, pride of living, and true ROI over cosmetic updates

 

 

📢 Announcement: Learn about our Apartment Investing Mastermind here.

 

 

Round of Insights

Failure that set Chris up for success: A marketing collapse at his former law firm pushed him to learn coding and product development. Though the failure cost mid six-figures, it laid the foundation for his current proptech innovations.

Digital or mobile resource recommended: Time-tracking or auditing tools—anything that helps buy back time, provided it’s actually reviewed and used intentionally.

Book recommended most in the last year: Buy Back Your Time by Dan Martell.

Daily habit that keeps him focused: Wakes up at 4:30 AM to get centered—no screens, focuses on personal health, calendar prep, meditation or prayer before engaging with others.

#1 insight for managing your expenses: Track everything down to the penny. Understand your P&L deeply, including the small charges and hidden costs across all line items.

Favorite restaurant in Louisville, KY: Kern’s Corner.

 

 

Next Steps

  • To learn more, check out Chris’ LinkedIn page.

  • Audit your expenses before chasing higher rents

  • Explore internal data solutions before investing in overpriced sensors

  • Re-evaluate your property management structure for hidden fees

  • Focus on functional, meaningful upgrades—not just cosmetic ones

 

 

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