Tim Lobner
Executive Vice President of Operations | Invitation Homes
Tim Lobner carries many lessons from his days as a naval officer into his current role as executive vice president, Operations Support, at Invitation Homes. One lesson he relies on often is to “collapse to the essential,” meaning that with all that goes on around a person on a daily basis—both planned and unplanned—it’s important to narrow one’s focus to the few things that really matter.
Tim graduated from the United States Naval Academy in 1999 and commissioned as an officer. During his six years as a nuclear submarine officer in the United States Navy, Tim says he found that events that unfolded on a mission were not always predictable or controllable—and the same holds true in business. “But with well-trained personnel that do the little things right at every opportunity,” Tim says, “a leader and their team are well-positioned to react to the surprises that come up simply because they have the bandwidth to focus on the challenge instead of having to exert too much effort on performing the basics.”
Teams that Solve the Problem Once
Today, Tim’s focus is squarely on leading Invitation Homes’ rehab, turn, and maintenance (RTM); procurement; and vehicle fleet operations. He and his team of more than 500 associates conduct all the activities required to maintain the company’s portfolio of 80,000 single family homes. Each year, they respond to 500,000+ service requests from residents and prepare 20,000+ homes for occupancy.
This massive effort of what Tim calls “the big green RTM machine” is successful because he and his team have developed and implemented scalable national programs based on documented policies, processes, and procedures. “Whether in the military or in business, each person has an important role to play toward the success of the team,” Tim says. “And having a documented, consistent way of conducting operations ensures that everyone on the team knows what to expect, when to act, and how everyone’s role creates value for the team and its customers.”
One lesson Tim brought from his time in the military is to solve problems once. “On a submarine, you don’t have the luxury of solving problems many times,” he says. “You need to get things right the first time. Identifying the root cause of an issue and solving the problem once is key.” Using this approach at Invitation Homes helps Tim and his team deliver an exceptional experience for the company’s residents.
Thoughtful Leadership
Tim counts one of his submariner skippers as having a major influence on his leadership style. “He remained remarkably calm at times when others might become unraveled and, in turn, created an environment where our crew could remain focused on performing our jobs despite very real distractions surrounding us,” remembers Tim. “And the direct advice he once shared with me has stuck with me for nearly two decades – ‘never get mad without a plan.’
Tim acknowledges that one major opportunity for veterans transitioning from the military into business is to assess the need for adjusting their leadership style. “What works in the military doesn’t translate perfectly to the private sector,” he says. “I’ve learned that successful leadership in the private sector requires an ability to tailor your leadership and communication styles to a broader audience to develop talent and deliver results.”
A Smooth Transition
Tim’s love for real estate began while he was still in the Navy. As he tells it, he was stationed in Groton, Connecticut, finishing Submarine Officer School when he received orders to report to a submarine based in San Diego, California. Rent in San Diego was high, so he decided to buy a townhouse and offered to rent a room to his best friend.
“My light bulb moment was when I realized that the rent I collected covered roughly 75% of my mortgage and that I was able to use someone else’s money to build equity,” he says. “After that I set a goal of going to business school and pursuing a career in real estate.”
Upon his exit from the Navy in 2005 as a Lieutenant (O-3), Tim received his Master of Business Administration (MBA) from the University of Chicago Booth School of Business.
Tim began his formal career in real estate in 2006 when he took a job as senior associate with Trammell Crow Company. In his six years at Trammell Crow, he also served in a development role, supporting acquisition and development efforts across industrial, retail and office assets.
While he feels blessed to have had the opportunity to work with Trammell Crow, Tim counts the most rewarding experience of his career as taking a chance with Invitation Homes. “In 2012, I left a job I enjoyed with a great company to pursue an opportunity with Invitation Homes, an unknown company at the time,” he says. “I was drawn to the entrepreneurial spirit of the company’s founders and to a business model that not only made sense strategically but also felt more purposeful.”
That sense of purpose, which is a common thread spanning Tim’s military and real estate career, led to one of his proudest moments. “I am incredibly proud of my time serving our country, yet I am equally proud of our team’s efforts at Invitation Homes which culminated in our 2017 initial public offering on the New York Stock Exchange,” he explains. “It was an achievement that our leadership team had been working toward for several years and served to validate our business model.”
As Tim looks to the future, he sees continued opportunity to drive further operational efficiencies into Invitation Homes’ service delivery model and to expand upon the industry-leading “leasing lifestyle” that the company provides to its residents. Wherever the journey takes Tim, he will continue to bring the valuable lessons of focus, process, and team appreciation to his work.
