Making Money in Multifamily Real Estate Show: Recent Episodes
Dave Morgia
This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that has helped them achieve their success so far.
While I have truly enjoyed hosting the show over the last several years. I have found it a good time to stop producing episodes.
As our real estate business develops and changes. I have to be very careful with where I spend my attention and energy. And unfortunately, I think the podcast is one of the things that I don't think I can continue without sacrificing other areas of our business.
I am super, super grateful for what the show has given me over the last several years, including a lot of my own education. A lot of great relationships that I've built.
I hope that in turn, the show has given you some value, whether it's something you learned, someone you ended up reaching out to, whatever it may be.
I'd like to thank you for listening and if we haven't connected and you want to stay in touch be sure to reach me at david@davidtravis.com or through our website davidtravis.com.
Thank you
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
IntroductionCaleb Johnson is the founder of Red Sea Capital, which was founded in 2022. Red Sea currently has 86 units under management across Oklahoma, New Mexico, and Arizona. Caleb is also the host of the From Trial to Triumph podcast.
Highlights(0:07:17) - Sourcing commercial properties and alternative investments like short term rentals
(0:12:21) - A Hawaii STR opportunity and underwriting STR deals
(0:28:35) - Caleb emphasizes the importance of showing both the risks and rewards to potential investors when raising capital for alternative investments like Airbnb's in Hawaii.
(0:35:45) - The challenges of raising capital on your first deal
(0:55:40) - Caleb's networking strategy and its role in helping him land more deals in real estate investing Connect with Calebhttps://redseacapitalgroup.com/
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
IntroductionMatt Williams is a seasoned investor with over 22 years of experience in real estate. Before making his mark in real estate, he began his career as a mortgage broker. In addition to being a successful investor, Matt has also spent the last 13 years sharing his knowledge as a public speaker.
Highlights
(0:06:35) - Silicon Valley Bank's and the tech industry
(0:09:02) - Analysis of Fed funds rate hikes and the impact of mortgage-backed securities.
(0:18:15) - Discussion on the FDIC reserves and advice on how to pick a strong bank
(0:33:13) - Examination of the consolidation trend among US banks and the potential risks of a centralized banking system.
(0:39:02) - Analysis of the warning signs missed before SVB's collapse
(0:46:35) - Some positives outcomes that could follow these events
Connect with MattInstagram
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
IntroductionVessi Kapoulian Founder is the Founder of DBA Capital Group which focuses on operating multifamily investments under both a JV and syndication model. DBA's Portfolio consists of GP 161 units across seven properties, totaling $13M in AUM
Highlights
(0:06:40) - Thorough market research and focusing on factors like median household incomes, poverty rates, and crime rates.
(0:15:40) - The significance of exit caps in the valuation of properties
(0:18:30) - Why you should revisit insurance premiums throughout the investment sale process
(0:24:53) - Vessi shares resources and advice for underwriting success, including the use of deal analyzers and the importance of networking with other investors.
(0:27:40) - "Fall in love with the numbers, not the deal."
(0:31:20) - Overcoming challenges and pursuing growth in business. Vessi shares a personal story of a challenging deal and how she overcame the obstacles.
Connect with Vessihttps://dbacapitalgroup.com/
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
IntroductionVessi Kapoulian Founder is the Founder of DBA Capital Group which focuses on operating multifamily investments under both a JV and syndication model. DBA's Portfolio consists of GP 161 units across seven properties, totaling $13M in AUM
Highlights
(0:06:40) - Thorough market research and focusing on factors like median household incomes, poverty rates, and crime rates.
(0:15:40) - The significance of exit caps in the valuation of properties
(0:18:30) - Why you should revisit insurance premiums throughout the investment sale process
(0:24:53) - Vessi shares resources and advice for underwriting success, including the use of deal analyzers and the importance of networking with other investors.
(0:27:40) - "Fall in love with the numbers, not the deal."
(0:31:20) - Overcoming challenges and pursuing growth in business. Vessi shares a personal story of a challenging deal and how she overcame the obstacles.
Connect with Vessihttps://dbacapitalgroup.com/
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
IntroductionTom is the Chief Investment Officer for Belrose Storage Group. Belrose specializes in acquiring underperforming self storage facilities in the Eastern US. Before Storage, Tom had a background in corporate finance and 25 years of real estate investment experience
Highlights(0:00:22) Tom talks about his journey from corporate finance to real estate investment and shares how he and his partner found self-storage to be the ideal asset class
(0:07:33) The importance of leveraging talents and building strategic partnerships, and challenges in the acquisition process
(0:12:18) Navigating the fluctuating interest rates when looking for loan terms
(0:18:52) The importance of having lenders and deals lined up is discussed. Tom shares his insights on self-storage as a reliable asset class in good and bad times, and the value-add opportunities implemented by Bellrose Storage Group
(0:29:44) Understanding the supply and demand of the market when acquiring a new facility, and the impact of effective marketing and how small-scale owners' operations can affect rent rates.
(0:34:22) Tom shares a story of how his team overcame obstacles and improved business strategies. He talks about the resilience required in times of uncertainty and the significant role technology has played in maximizing operating efficiency.
Connect with Tom:https://belrosestoragegroup.com/
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Introduction
Drew Breneman has been investing in real estate since he was 19 years old where started in the single family space. He went on to get his degree in real estate and urban land economics and then worked for several national real estate development firms. He then went on to co-found three companies; Breneman Capital in 2005, Black Hawk Investment Group in 2008, and Dwell in 2019, which focuses on Chicago real estate investing and property management. Drew is also the host of the Brenman Blueprint podcast
Highlights:
(0:00:11) - Drew's start at 19 years old to the founding of three companies and a successful podcast
(0:13:40) - Drew talks about transitioning from investing in Chicago to investing in other markets, and shares his strategies for keeping up with new business and getting an edge in the markets.
(0:22:22) - Real estate investment structures and financing
(0:34:02) - Overcoming shyness, emphasizing the importance of curiosity
(0:38:07) - The host shares his own experiences in real estate investment, offering practical tips and emphasizing the importance of networking and keeping things simple.
(0:13:40) - Drew's future investments, focusing on markets that are trending positively and sharing strategies for finding deals that make sense.
(0:22:22) - The conversation delves into the specifics of the deals Breneman makes, including the types of properties they purchase and the strategies they use to increase cash flow.
(0:22:22) - Debt lending environment is examined, a dive into five-year fixed Fannie loans
Connect with Drew:Drew's WebsiteDrew's Podcast - Breneman Blueprint
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Rama Krishna is the host of the Multi-Family AP360 podcast and author of Creating Wealth Through Passive Apartment Investing. Rama shares his journey from single-family to multi-family real estate investing, revealing invaluable insights on selecting the perfect location, establishing trust with brokers, and building a solid track record.
Learn how to continuously assess and improve various aspects of your real estate business, including implementing effective systems and processes, hiring reliable property management companies, and forming partnerships with the right people. Rama also tackles the challenges of finding suitable partners and capital in the current market, providing valuable advice on how to approach deals with multiple options to secure the ideal partner.
Highlights:(0:00:20) Rama Krishna discusses his transition from single-family to multi-family real estate investing and the importance of selecting the right location.
(0:10:58) The importance of assessing and improving various aspects of the real estate business, such as systems and processes.
(0:15:16) The discussion focuses on market factors impacting investors, like interest rates, capital exit strategies, and rent projections.
(0:20:12) Rama shares his thoughts on bridge debt, agency debt, and loan assumptions when evaluating deals.
(0:22:45) The challenges of finding suitable partners and capital in the current market are discussed.
(0:24:34) Establishing trust with brokers and building a solid track record.
(0:29:37) The importance of networking and building strong relationships in the multi-family real estate market.
Connect:Rama's Podcast
Rama's Book
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Chris Stout, the principal at Stout Cap. With two decades of experience in residential construction and over a decade of experience as a multifamily investor, Chris shares his expertise on identifying well-maintained properties and development opportunities, as well as the benefits of a construction background in the industry. Learn valuable insights into his preference for 2000s builds and how staying ahead in real estate acquisition is essential for success.
We discuss various loans available for residential construction and multifamily investment, and the importance of underpromising and overdelivering when it comes to fiduciary responsibility. Chris enlightens us on how fixed rate bridge loans and lines of credit for capital expenditures can help investors stay ahead of the competition. We also delve into the significance of staying in touch with brokers and doubling down on relationships in order to succeed in this competitive market.
Join us as we explore the emotional roller coaster of entrepreneurship and the key to pushing through difficult moments. Chris shares his personal experience of cold feet before closing a deal and the importance of buying the right thing. We also touch on market volatility, the need to stay persistent when making decisions, and how understanding the explanations for various opportunities can help increase the chances of success. Don't miss out on this informative and engaging conversation with the highly experienced Chris Stout!
Highlights:0:03:37 - Investing in Development and Newer Builds
0:09:55 - Skepticism in Business Decisions
0:17:06 - Staying Ahead in Multifamily Brokerage
0:22:34 - Investing in New Construction Projects
0:25:22 - Proving Yourself Before Securing Investors
0:33:19 - Rules for General Partnership Equity
0:36:16 - Overcoming Fear in Real Estate Deals
0:42:30 - Learning From Past Investment Mistakes
0:47:40 - Pivoting to New Asset Classes
Chris' Website:
StoutCap
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Welcome to the show, where I, Dave Morgia, dive deep into the world of real estate investing with James Nelson, a top sales professional with over 25 years of experience. Throughout this episode, we discuss James' extensive background in investment sales brokerage and how it has given him unique insights into real estate opportunities. We explore the importance of building strong relationships with brokers, understanding their perspective when it comes to private placements, and how to create systems for scale in order to remain competitive in the ever-changing real estate landscape. We also delve into the inner workings of a unified sales team at a brokerage firm and the challenges faced when transitioning to a new brokerage firm while fostering a strong team culture. Finally, we tackle five key questions that provide insights into success, overcoming challenges, and continuous growth in the real estate industry. Join us as we uncover the secrets to success in real estate investing and learn from James' wealth of knowledge and expertise. Don't miss this captivating conversation!
Chapters:
(0:00:10) - Introduction to James Nelson and his extensive experience in real estate investment sales brokerage.
(0:06:47) - The importance of building strong relationships with brokers and understanding their perspective in private placements.
(0:14:25) - The inner workings of a unified sales team at a brokerage firm and its advantages for the investor experience.
(0:18:17) - The challenges faced when transitioning to a new brokerage firm and the importance of fostering a strong team culture.
(0:21:07) - The impact of market changes on sales teams and the importance of staying informed in times of uncertainty.
(0:31:26) - The key to success in the real estate industry, including tenacity, learning from failures, and maintaining consistency.
(0:40:43) - Reaching James Nelson and accessing his content, including his book and podcast.
You can reach James Nelson by visiting his website, https://www.jamesnelson.com/ where you can access his podcast, show notes, video series, white papers, and order his book. Alternatively, you can check out his book on Amazon
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Jorge Abreu is an Active & Passive Full-Time Multifamily Real Estate Investor and the owner & operator of 5,814 Doors. Jorge is also the CEO of Elevate Commercial Investment Group and owns a construction company, JNT Construction, that focuses on helping Multifamily Investors with their complete renovations.
During this episode, you will learn about
[00:19] Episode intro and a quick bio of the guest; Jorge Abreu
[01:15] Jorge’s backstory and his passion for construction
[04:00] What Jorge was building up in the early days of his pursuit of construction
[05:35] What factors to consider before committing your dollar to a construction deal
[07:04] Flexibility in the business plan
[09:28] What degree is best for real estate investing?
[10:38] Bumps and obstacles Jorge has navigated in his construction journey
[13:26] A deal that didn’t go as expected due to failure to do correct due diligence
[16:18] The main things that Jorge has witnessed work well in the construction niche
[17:30] Jorge’s 10-year vision with the construction company
[20:31] His process of putting a new deal in the scrutiny funnel
[24:30] Golden takeaway nuggets for investors from Jorge’s experiences
[26:40] Rapid Fire Round
[31:36] How to reach out and connect with Jorge
Notable Quotes ● Before scrutinizing a real estate deal, the most important factor is to look at the market first. If you do not like the market, wasting time on other processes is unnecessary. [20:31]● Be persistent in achieving your goal. It will always pay off well [26:51]● Building your credibility may take a lot of work. You may be forced to speak at events or on a podcast. Once you crack that code, your growth will exponentially grow. You better be ready! [29:40]● Whatever you are starting, be yourself. Do not put yourself in the shoes of someone else. People are attracted to your uniqueness. [30:50]
Connect With Jorge AbreuCompany’s Website 1: https://www.elevatecig.com/
Company’s Website 2: https://jntconstruct.com/
LinkedIn: https://www.linkedin.com/in/jorgelabreu/
Linktr.ee: https://linktr.ee/jorgemultifamily
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Mike is a business partner at Next Gen Ag, an agriculture consulting firm specializing in farm transition and legacy planning. He and his wife are also the founders of Farm Raise Capital, an investment platform for professionals and the Ag community. Mike started investing in the late 2000s in single-family and small multifamily and later transitioned to passive syndication investments. He has 3500 units across the US between self-storage and multifamily, and as of late, he has been a general partner in 174 multifamily units in Florida and Texas.
During this episode, you will learn about;
[00:28] Episode intro and a quick bio of the guest; Mike Downey
[01:30] Mike’s background and how he got into the real estate game
[05:34] Mike’s learning curve from the beginning to real estate syndications
[9:11] Limited partnership and how Mike advocates that in multifamily and self-storage
[12:34] How Mike handles people investing passively in their syndication deals
[16:27] The opportunity that Mike created that allowed him to leave his W2 job
[18:30] How Mike runs his family farm transition planning firm and multifamily business
[20:09] Leveraging the equity in family farms and getting into the cash flow
[23:34] The tax bills and benefits and how you can leap from them
[25:37] What inspired Mike to do business in the farm and real estate spaces
[22:38] Rapid Fire Round
[35:01] How to reach out, connect and learn more about Mike
Notable Quotes ● There is risk in everything and every investment, but as a limited or a general partner, you are leveraging the expertise of others instead of putting everything on your shoulders. [07:33]
● “If you don’t make a decision and a career change by the time you’re 40 or 45 years old, you will probably never do it.” [19:35]
● The pursuit of a goal is better than actually getting there; try to have a list of the next thing. [30:29]
● To make a decision to grow, look at it as a 2 to 3 years commitment that you have to grid through and be driven. [33:01]
Resources MentionedMike AHA moment one page read: http://whatwealthmean.com/
Connect With Mike DowneyCompany Website: https://www.nextgenag.us/
LinkedIn: https://uk.linkedin.com/in/mike-downey-ba6a9410
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Stuart Keller is the Senior Vice President of Investor Relations at Lloyd Jones, a global real estate investment firm with subsidiaries in development, construction, and senior living operations. Its focus is senior housing, multifamily, and, most recently, the hospitality industry.
Stuart brings his fifteen years of experience in operational leadership, asset management, and financial analysis to the firm's syndication division. This division allows accredited investors to participate in institutional quality real estate ownership. Most recently, Stuart led the firm's asset management division, overseeing more than $500m in acquisitions, dispositions, and the financial stewardship of the firm's portfolio of 5,500 units throughout the United States.
This episode:
[00:30] Episode intro and a quick bio of the guest; Stuart Keller
[01:23] Current real estate market sentiments and where the market may be going
[05:10] What Stuart speculates about multifamily cap rate compression
[07:00] The demographic shift caused by Covid 19 and why we must be paying attention
[08:20] How Stuart has been doing to better the senior living space
[11:51] His group’s process in evaluating the risk-to-reward opportunities before investing
[15:42] How Stuart and his team have been sourcing their deals
[18:11] How the company used to source deals earlier on
[20:53] Ensuring an investment follows the right route despite the prevailing cap rates
[24:16] Stuart’s advice when investing in the senior living space
[26:55] Golden takeaway nuggets for investors in this niche
Notable Quotes ●The most successful real estate investors have mastered the secret of focusing on a niche, whether based on the location or the process of finding deals. [15:20]●Once you map out your real estate investing niche, hire market experts with the knowledge you do not have. They will shorten your success route and help you scale faster. [17:06]●Your successful investing approach should factor in what your competitors are also doing. [20:58]●The biggest distinction that you will get from multifamily to senior living space is that you will get a 20% turnover. In multifamily, the leases you get will be few and dependent on the cost of the lease. [24:40]● Where senior living is today is where multifamily was ten years ago. [27:21]
Resources Mentioned The E-myth* Book Series by Michael Gerber: https://www.amazon.com/Michael-E-Gerber/e/B001I9OR5G/
Connect With Stuart Keller* Company’s Website: https://lloydjonesllc.com/investment/ * LinkedIn: https://www.linkedin.com/in/stuart-keller-cam-27547b37/ * Email: skeller@lloydjonesllc.com
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Real estate investors need to manage their portfolios well in order to maximize their benefits. This means identifying declining properties, reviewing the expenses, and comparing them with the returns for new properties. Investors must also find a way to identify the properties that are worth holding onto long-term and those that can be sold to generate profit. One of the investment tools to scale up your investments is the 1031 exchange. A 1031 exchange is a tax deferment program that allows an investor to sell certain properties without paying taxes on any profit at the time of sale and then reinvest those proceeds in other properties as long as they have invested the money into similar types. Join this conversation with Alex Olson and learn more about this investing tool.
Alex is a Senior Real Estate Broker for 1031 Exchange Buyers looking for Off Market Multifamily and NNN Investments. He helps clients identify and close real estate transactions in the Kansas City market, St Louis Market, and the states of Kansas and Missouri. If you are participating in a 1031 exchange or are ready to buy in the KC, STL, MO, or KS, Alex would love to speak to you. Similarly, you will enjoy learning about your real estate goals with your existing apartment buildings and how we can improve your financial position in your real estate investments.
During this episode, you will learn about:
[00:32] Episode intro and a quick bio of the guest; Alex Olson
[01:28] Alex’s backstory on how he got started in commercial real estate investing
[03:50] Real estate experiences that motivated him to focus on 1031 Exchange
[06:46] Current real estate market sediments and what you need to know before investing
[10:53] Why 1031 exchange is less market dependent and its benefits
[12:56] Reasons why most people chose the 1031 exchange
[18:31] Understanding the rules of the game and how Alex helps investors navigate that
[21:42] Preparation criteria that Alex looks for before helping a client start the 1031 process
[25:38] The two main requirements you have to meet to qualify for a 1031 exchange
[27:36] Rapid Fire Round
[34:38] How to reach out and connect with Alex
Notable Quotes * Despite all the noise in the media about real estate, the changes don’t happen overnight. [06:55] * The hardest part for people to understand is that as much as interest rates matter in investing, they don’t actually matter. What matters is whether the numbers, as a whole, make sense to you. [07:43] * Prior preparation is the key to success in 1031 exchanges. The time gap is always short when you start the process. [21:15] * In a 1031 exchange, there are certain requirements that you have to meet. One is that you should have a qualified intermediary. Two, the sale proceeds from the property should be stored in an escrow account that you do not have access to. [25:40] * The best advice for anyone who wants to join the 1031 exchange is to use people that have done them successfully in the past. Also, be as proactive as you can in the front end so that you can have a lot of time in the back end to close that deal. [27:12]
Connect With Alex OlsonCompany’s Website: https://xchangecre.com/
LinkedIn: https://www.linkedin.com/in/aolson/
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Targeting a positive cash flow in a self-storage space is more work than just targeting a deal. You have to look at the ratio of the rent to cost spaces, the quality of the product you are buying, site conditions, the configuration of the building, and replacement cost. The way to survive in your business is cash flow. Cashflow is the key to success in your business. It gets you through the downturn. It pays your operating expenses and your distributions to your investors. Being cash-flow-focused will help you build your financial empire in real estate. In this episode, Jacob Vanderslice will teach you how to cut costs, put a good product out there, and build a cashflow-positive self-storage business
Jacob is the Principal at VanWest Partners, a Denver-based real estate firm, focusing on the acquisition and management of self-storage centers across the United States. They are established and have a track record of currently $195 million in real estate assets. VanWest Partners are driven by the commitment to delivering executed and adaptable strategies with an institutional investment approach. Their goal was to build their brand and drive quality conversations that create more opportunities and gain.
During this episode:
[00:28] Episode intro and a quick bio of the guest; Jacob Vanderslice
[01:31] Being agile and adaptable to scale and remain competitive as a small business
[05:05] A $33 million deal that had an iteration process and the lessons that they learned
[07:12] Jacob’s bet for the economy and its impact on the self-storage space
[10:16] How to shift your business plan to protect your cash flow from economic downsides
[12:31] VanWest’s third self-storage investment fund and their developments
[14:17] Jacob’s advantages in the development market and how they find deals
[16:01] The risk between building versus buying an existing storage investment
[18:27] VanWest development projects and how they are scaling their efforts
[20:16] VanWest investors and the deals they are putting out there for them
[23:48] VanWest focus to grow and scale their portfolio in the next few years
Notable Quotes * Being agile and being adaptive services well in real estate. [01:32] * The model will tell you whatever you want it to tell you; You can lower the revenue and the cap rate, but you’ve to believe what the model is telling you and be committed to executing what it says you need to execute. [06:09] * As long as we’re growing revenue and the operating income, and hitting our business plan with every deal we buy, the rest of the elements in the real estate equation will take care of themselves. [09:05] * Cashflow is king; net worth is not what matters; it’s your recurrent revenue streams that will allow you to survive. [10:23] * Leverage doesn’t make bad deals good, it makes a good deal better, but if the amount is too high and you can’t service the debt, you get a problem [12:02] * Every real estate business needs three things, deal flow, capital and operation, and they go hand in hand. [25:03]
Connect With JacobCompany Website: https://www.vanwestpartners.com/team
LinkedIn: https://www.linkedin.com/in/jacob-vanderslice-02905b16b/
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Responsible investments are essential to a long-term financial strategy. Investors need to understand the basics of finance and investing before attempting to make real estate investments. This can be achieved by getting involved in education, learning how to pick the right investment options, and understanding what makes up a successful investment portfolio. This episode with Whitney Elkins-Hutten will help you learn how to spot great opportunities and avoid bad ones while creating a successful plan.
Whitney is a real estate investor and personal finance trainer whose vision is to help thousands of families on their path toward financial independence. After purchasing her first rental in 2002, hitting a home run, then nearly losing it all on her second deal, Whitney took control and figured out how to invest in real estate the right way. She realized that success must leave clues. So, she studied and used her research, business operations, and training skills and replicated the very personal finance and wealth creation strategies to create financial freedom. Today, Whitney is a partner in $900M+ of real estate assets, including 6,500+ residential units and 1,400+ self-storage units, and flipping over $3M in residential real estate.
Tune in!
During this episode, you will learn about:
- [00:28] Episode intro and a quick bio of the guest; Whitney Elkins-Hutten
- [01:25] Her role as the director of investor education at Passive Investing Company
- [03:25] The 80% of what she does to get people into investing
- [07:17] Bridging the gap between reaching investors online & creating physical trust
- [12:57] The experiences as an educator that necessitated her mode of operation
- [14:51] Preparing investors for a diversified real estate investment
- [20:45] Approaches they are taking to educate investors on the investment trends
- [23:25] The modes of offering education
- [24:50] How Whitney balances her role of investor education with personal and family life
- [27:24] Rapid Fire Round
- [32:01] Wrap up and call to action
Connect With Whitney Elkins-Hutten* Company Website: https://www.passiveinvesting.com/whitney/ * Website: https://ashwealth.com/ * LinkedIn: https://www.linkedin.com/in/whitneyelkinshutten/
About the Show *Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Please consider leaving a review and sharing it with your friends and family, and follow us on Facebook!
Responsible investments are essential to a long-term financial strategy. Investors need to understand the basics of finance and investing before attempting to make real estate investments. This can be achieved by getting involved in education, learning how to pick the right investment options, and understanding what makes up a successful investment portfolio. This episode with Whitney Elkins-Hutten will help you learn how to spot great opportunities and avoid bad ones while creating a successful plan.
Whitney is a real estate investor and personal finance trainer whose vision is to help thousands of families on their path toward financial independence. After purchasing her first rental in 2002, hitting a home run, then nearly losing it all on her second deal, Whitney took control and figured out how to invest in real estate the right way. She realized that success must leave clues. So, she studied and used her research, business operations, and training skills and replicated the very personal finance and wealth creation strategies to create financial freedom. Today, Whitney is a partner in $900M+ of real estate assets, including 6,500+ residential units and 1,400+ self-storage units, and flipping over $3M in residential real estate.
Tune in!
During this episode, you will learn about:
- [00:28] Episode intro and a quick bio of the guest; Whitney Elkins-Hutten
- [01:25] Her role as the director of investor education at Passive Investing Company
- [03:25] The 80% of what she does to get people into investing
- [07:17] Bridging the gap between reaching investors online & creating physical trust
- [12:57] The experiences as an educator that necessitated her mode of operation
- [14:51] Preparing investors for a diversified real estate investment
- [20:45] Approaches they are taking to educate investors on the investment trends
- [23:25] The modes of offering education
- [24:50] How Whitney balances her role of investor education with personal and family life
- [27:24] Rapid Fire Round
- [32:01] Wrap up and call to action
Connect With Whitney Elkins-Hutten* Company Website: https://www.passiveinvesting.com/whitney/ * Website: https://ashwealth.com/ * LinkedIn: https://www.linkedin.com/in/whitneyelkinshutten/
About the Show *Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Please consider leaving a review and sharing it with your friends and family, and follow us on Facebook!
Self-storage facilities have become an increasingly popular option for many businesses, but not everyone knows the basics of what to do before taking the plunge. Systems can help you understand how to get started and also which services you need in order to make your business successful. Join this conversation with Sean Graham and learn from his experience.
Sean is the founder, owner, and operator of Maven Equities and Maven Storage. He is an entrepreneur and investor who focuses on real estate opportunities. Sean manages his own portfolio of residential rental properties while also investing in and developing self-storage facilities. Sean is a licensed CPA with a background in public accounting and private equity.
Tune in!
During this episode, you will learn about:
- [00:34] Episode intro and a quick bio of the guest; Sean Graham
- [01:13] Sean’s backstory of how he got to where he is today
- [02:03] Why Sean decided to move from residential investment to self-storage
- [04:59] How he came to be a full-time real estate investor
- [07:08] Systems he has put in place to get self-storage deals in Michigan
- [09:11] The metrics to check before building self-storage facilities
- [14:19] The journey of finding a VA and training them to his specifications
- [18:10] Continuous refresher of VAs when there seems to be a deviation
- [21:22] How it feels like to detach himself from the business and focus on other things
- [28:11] 5 Key Questions
- [40:58] Wrap up and how you can reach out and connect with Sean
Notable Quotes
- In commercial real estate, you have more control over the value of your assets. [02:31]
- Passion leads to knowledge, and applied knowledge leads to confidence and positive results. [05:34]
- You can force deals, but they will come to backfire on your face. [26:03]
- Your mindset creates your reality. The more you surround yourself with positivity; the brighter your future will be. [37:36]
Resources Mentioned
- Self Storage Income Podcast hosted by AJ Osborne: https://www.selfstorageincome.com/podcast
- Bigger Pockets Podcast: https://www.biggerpockets.com/
Connect With Sean Graham
- Website: https://www.mavenstorage.com/
- Company Website: https://www.mavenequities.com/
- LinkedIn: https://www.linkedin.com/in/sean-graham-cpa-5b3a5443/
- Email: sean@mavenstorage.com
About the Show *Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Please consider leaving a review and sharing it with your friends and family, and follow us on Facebook!
Join the conversation with Brandon Hicks as he shares the strategy he has been using to find success in real estate. Brandon is the founder of Ridgeline Wealth Group, which focuses on purchasing self-storage facilities that meet specific property and market criteria. The company adds value by renovating the property and introducing automation to improve the customer experience.
Brandon began his real estate investing journey in 2020, making several investments in his first year. He is a limited partner in 203 doors with multifamily and a general partner in a 58k sqft self-storage facility. As a problem solver at heart, Brandon has a bachelor’s degree in mechanical engineering and has worked in the Consumer Electronics industry for over 8 years, specializing in new product development. He brings this passion for solving problems into real estate, focusing on acquiring off-market self-storage facilities. Brandon lives in Massachusetts with his wife, Shelby, and their dog, Harper.
Tune in to this conversation, and let’s get the insights!
During this episode, you will learn about;
- [02:37] Episode intro and a quick bio of the guest; Brandon Hicks
- [03:26] Brandon’s backstory of how he got into where he is today
- [06:44] The 80/20 rule in your skill sets
- [07:55] Brandon’s off-market strategy for his self-storage deals
- [13:01] The 5-month logic before calling a deal off
- [14:17] How he was sourcing his leads
- [16:44] The conversion rate of this strategy
- [17:53] Persistence and how long it takes to close a deal with clients
- [25:07] The extent of the tasks by his VA
- [30:44] Challenges and lessons he has learned from phone call interactions with the clients
- [35:23] Rapid Fire Round
- [46:46] Wrap up and how you can reach out and connect with Brandon
Resources Mentioned1. Turning Pro by Steven Pressfield: https://www.amazon.com/gp/product/B0087TUM54/ 2. Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones by James Clear: https://www.amazon.com/gp/product/B07D23CFGR/
Connect With Brandon Hicks1. Website: https://www.ridgelinewealthgroup.com/ 2. Instagram: https://www.instagram.com/realbhicks/
About the Show *Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.
Please consider leaving a review and sharing it with your friends and family and follow us on Facebook!
Join the conversation with Mike Morawski as he shares the lessons he has learned from more than thirty years of real estate investing. Michael “Mike” Morawski is the founder & CEO of My Core Intentions and a 30+ year real estate investment veteran. He has controlled over $285,000,000 in real estate transactions. Mike is also an entrepreneur, author, real estate trainer, public speaker, and personal coach with strong personal resilience and a deep desire to help others live extraordinary lives. He has coached hundreds of real estate investors to fulfill their dreams.
During this episode, you will learn about
- [00:28] Episode intro and a quick bio of the guest; Mike Morawski
- [01:23] Mike’s backstory of how he got into what he does in his space
- [05:35] What he attributes to his quick success in real estate
- [07:32] How the changing market in 2005 created a need for accelerated strategies
- [11:07] Safety nets and key metrics for a successful real estate venture
- [12:25] Mike’s poor decisions that led to a 10-year federal prison sentence
- [13:00] The defining moment in prison
- [16:31] The experiences Mike got in real estate coaching while serving his term in prison
- [18:44] Reinforcements and motivations he had to utilize to keep him going
- [20:55] The investment lesson that Mike will teach forever
- [22:10] Getting the momentum of a support system that stood with him to rebuild an empire
- [24:31] Why Mike accepted the responsibility for the failures of the business as a leader
- [25:46] Book recommendations from Mike
- [30:05] 5 Key Questions
- [37:22] How you can reach out and connect with Mike
Notable Quotes * You should not do a real estate deal until you are at 65% to 75% LTV in that deal. Markets change uncertainly, and you should be able to easily pay your bills when such changes occur. [10:04] * Life is a marathon, not a sprint. [11:12] * We all have defining moments in our lives at different seasons. At that moment could be in jail. [13:00] * Life is all about choices. You can either choose to let time “do you, or you can do the time.” [19:00] * If you can personally improve yourself by just 1% every day, by the end of the year, you will have improved 365%. [19:41] * Be conservative and humble in both your interactions and actions. [21:30] * It’s easy to build and grow something if you already have some momentum behind you. A healthy support system. [22:34] * What distinguishes people from the hurdles of life is how they perceive them and act after the fall. [23:34]
Mike’s Book and Other Resources Mentioned* Exit Plan- Your Complete Guide to MultiFamily Investing and Why you need an Exit Plan before you Buy: https://www.amazon.com/gp/product/1952471206/ * The Winner Within- A Life Plan for Team Players by Pat Riley: https://www.amazon.com/gp/product/0399138390/ * Journal of Business Ethics: https://mycoreintentions.com/wp-content/uploads/2020/12/MFV17.pdf * Steve Jobs Biography by Walter Isaacson: https://www.amazon.com/gp/product/B004W2UBYW/ * Colin Powell Biography: https://en.wikipedia.org/wiki/Colin_Powell
Connect With Mike Morawski* Website: https://mycoreintentions.com/
Join the conversation with Rod Khleif as he shares some proven steps to achieve the success of your dreams. He also shares success tips from his lessons learned from real estate investing. Rod Khleif is a seasoned and passionate real estate investor who has personally owned and managed over 2000 apartments and homes. He has combined his passion for real estate investing with his personal philosophies of self-actualization, goal setting, envisioning, and manifesting success to become one of America’s top real estate investment professionals.
He hosts “The Lifetime Cash Flow through Real Estate Podcast,” where he grants you access to expert real estate investors, syndicators, lenders, property managers, and advisors. These experts share their stories, tips, and advice on how they successfully built their businesses and fortunes through multi-family real estate investing.
Tune in to this conversation, and let’s get the insights!
During this episode, you will learn about;
- [00:42] Episode intro and a quick bio of the guest; Rod Khleif
- [01:10] Rod’s backstory of how he got into multifamily investing
- [06:13] The process of getting what you want in life
- [18:05] Do you have a burning desire for what you want?
- [18:42] Getting rid of the limiting beliefs
- [25:32] Focusing on your goals through meditation
- [27:36] Be careful with your closest people
- [28:49] Rapid Fire Round
- [38:05] Wrap up and how you can reach out and connect with Rod
Notable Quotes
- You must be clear with what you want and why you want it. The mental stage is where most battles are won. [06:19]
- Getting your goals and ideas out of your head and writing them down on paper is important. If they are in your head, they are dead. [07:30]
- Sadly, people spend more time planning birthday parties than their lives. [11:42]
- You need the goals, but the WHY is the driver.” [12:36]
- In your journey to destiny, you must have that burning desire to push through fear and other limiting beliefs. [18:27]
- “Take the first step in faith. You don't have to see the whole staircase. Just take the first step.”—Martin Luther King Jr. [25:05]
- You're the average of the five people you spend the most time with. [27:39]
- The most successful people in the world are the ones that add value. [29:53]
Rod’s Book and Other Resources Mentioned
- How to Create Lifetime CashFlow Through Multifamily Properties: The New Rules of Real Estate Investing: https://www.amazon.com/gp/product/B07RV5ZRQV/
- Top Five Regrets of the Dying: A Life Transformed by the Dearly Departing by Bronnie Ware: https://www.amazon.com/gp/product/B07KNRLY1L/
Connect With Rod Khleif
- Website: https://rodkhleif.com/
- Instagram: https://www.instagram.com/mike.morawski.54/
- LinkedIn: https://www.linkedin.com/in/rodkhleif/
- Linktr.ee: https://linktr.ee/rodkhleif
- YouTube: https://www.youtube.com/channel/UCbb357-0yQw0kdNelWKrSkA/
About the Show
*Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real esta**
Brandon's Background:
- Brandon is the owner and partner of HBG Capital, a vertically integrated real estate firm providing investors with superior risk-adjusted returns and downside principal protection backed by real assets in the residential single-family construction sector in Middle TN, and Commercial Multifamily Acquisitions in the southeast. HBG Capital’s construction arm – HBG Construction, executes ground-up new developments, land development, and residential property rehabilitation in Middle TN.
- Brandon was a former sports medicine medical device sales rep before becoming a licensed GC in TN managing $16 Million+ of new development annually and active ownership in $33 million in commercial real estate. He was featured on the cover of REI Wealth magazine, Realty 411 Magazine, and has been quoted and published in Forbes magazine.
In this episode we cover:
- 3:30 Front of mind in your network
- 4:52 Brandon’s investor and deal workflows
- 9:19 Assessing a person’s character
- 11:09 Where Brandon will partner in the deal process
- 14:48 Working with and waiting on investors that aren’t ready
- 20:22 Recession resistant investing
- 25:20 5 Key Questions
Connect with Brandon:
- https://www.hbgcapital.net/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Stefan's Background:
- Stefan Tsvetkov is the Founder of RealtyQuant (www.realtyquant.com), a company that brings data-driven and quantitative techniques to the real estate industry. On a mission to add massive industry value through education, investment, technology, and analytics.
- Financial engineer turned multifamily investor, analytics speaker, and live webinar host.
- He holds a Master's degree in Financial Engineering from Columbia University, and during his finance career managed ~$90 billion derivatives portfolio jointly with colleagues.
In this episode we cover:
- 05:57 Short Term and Long Term Market Data
- 08:37 Recession odds
- 12:06 Impacts to different market types
- 16:32 Investing locally with macro data
- 21:00 Affordability
- 24:54 Market profiles Stefan targets
- 33:25 5 Key Questions
Connect with Stefan:
- https://www.realtyquant.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Chris' Background:
- Founder/CEO of Evolve Equity
- Chris personally has over a decade's worth of experience in real estate with his background before that as a Production Manager in aerospace, where he has another decade of experience
- Him and his wife Chelsey, who heads investor relations for the team, live in AZ and focus their investing in AZ, with their latest deal in Phoenix
In this episode we cover:
- 01:52 Building out deal funnels
- 08:51 Assumptions on exit caps
- 14:09 Supplementing data
- 18:39 Expenses are more historical
- 22:34 Leverage external partners
- 30:20 5 Key Questions
Connect with Chris:
- chris@evolveequity.com
- https://evolveequity.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Scott's Background:
- Scott is a Chicago native whose career began in 1991 by pursuing his Masters of Architecture from the Illinois Institute of Technology.
- Fast forward to 2012, Scott founded Coda Management Group – a firm who specializes in managing real estate assets. Since its inception, Coda manages a wide range of real estate including single and multi-family homes, retail, commercial warehouse, self- storage and multi-use flex athletic spaces. Currently, their investments total over $55 million.
- Scott has authored High Performance Homes – Navigating the Green Road to Your Dream Home, a book for homeowner’s seeking to incorporate green technology into their home.
In this episode we cover:
- 03:02 Scott's Transition into RE
- 08:52 Good investment metrics for Self Storage
- 14:08 All in costs and risk/reward
- 20:22 Biggest hedge on a proforma
- 23:00 Staying focused on economies of scale
- 26:00 5 Key Questions
Connect with Scott:
- https://www.codamg.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Paul's Background:
- Paul Hassebroek founded Six Four in 2019 after a successful career in the financial advisory and family office field. During the past 10 years, Paul has been through due diligence on dozens of private equity and real estate projects and successfully fundraised $25,000,000 from investors to acquire or build over $85,590,000 of projects.
- Paul’s personal mission statement is to be a “catalyst for growth.” A natural networker and people connecter, Paul loves helping investors identify real estate investments that help them achieve their goals. He also consults with and mentors others who are getting into real estate investing full-time.
- An accomplished and results-driven asset manager, Paul has over 16 years of experience in real estate, finance, and operations. He has strong qualifications in developing and implementing financial controls and processes in addition to productivity improvements and change management.
In this episode we cover:
- 01:25 Paul's Personal Statement
- 05:08 Current Team Structure
- 09:55 Conditioning investors to invest in certain assets
- 14:16 Onboarding new investors
- 17:36 Focus in Florida markets
- 22:14 Building strategic relationships
- 26:21 Institutional investors vs retail investors
- 31:11 5 Key Questions
Connect with Paul:
- PaulHassebroek.com
- SixFour
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Patrick's Background:
- Patrick has fifteen years of experience in active real estate investment: purchasing distressed assets, renovating, and stabilizing for long term cashflow. His portfolio includes controlling ownership over 2729 units in the emerging markets across Texas and the South Eastern United States.
- In addition to his real estate experience, Patrick holds a Bachelor of Science in Mechanical Engineering from University of the Pacific, and a Master of Business Administration and a Master of Science in Engineering from San Jose State University. He has spent 15 years in corporate America working for machine design firms to concept, design, and build one-of-a-kind custom manufacturing automation and robotic systems. In addition to working closely with the technical engineering teams, he travels globally working to negotiate contracts and secure multi-million dollar investment for automation programs. He has been able to leverage his corporate experience and real estate knowledge to help pave the way for future success.
In this episode we cover:
- 02:19 Patrick's Background
- 09:28 1031's and TIC (tenant in common) structures
- 16:58 Older legal structures and syndications
- 22:32 Closing timelines with a 1031
- 30:05 Making sure you have the right terms (on the buy or sale)
- 33:21 5 Key Questions
Connect with Patrick:
- Website
- patrick@investonmainstreet.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Ryan and Warren's Backgrounds:
- Ryan is a NHBA award winning home builder, experienced real estate professional, and entrepreneur. Ryan is the founder of Equity Yield LLC. and has over a decade of experience owning an operating a Midwest based construction, and development company, with a wide range of project experience managing new construction, and value add multifamily projects.
- Warren has 20 years’ experience in finance, insurance and real estate in the USA, UK and Australia, with a focus on deal management, deal execution and project management. He began investing in real estate in 2010 and has experience in both Single-Family Homes and Multifamily Apartments. He is currently invested in over 2,000 units across the South-East and Midwest.
In this episode we cover:
- 04:53 - Targeted Returns
- 07:31 - Division of tasks between partners
- 10:26 - Getting the work done correctly using RFPs
- 12:52 - Capital stacks and leverage constraints
- 18:13 - Deal flow KPIs
- 29:15 - 5 Key Questions
Connect with Ryan and Warren:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Pasha's Background:
- Starting his career in real estate in 2011, flipping homes found at auctions, Pasha has since been involved in over $125 million in transactions across multiple asset types. These include residential homes, boutique motels, the purchasing and management of large multifamily properties, and working with housing programs in vulnerable communities.
- In early 2021, Pasha founded Evoke Capital with the primary objective of helping others achieve financial freedom through real estate investing. His lifelong philosophy is what drives Evoke Capital to excellence – People First. Treating each investment as his own and each tenant as family, Pasha has developed Evoke Capital within nine months to include a portfolio of over 300 units, a mobile home park, and an additional 197 lots under contract.
In this episode we cover:
- 01:53 Pasha's Background
- 06:22 Investing and the education system
- 14:13 Low income opportunities that aren't LIHTC
- 19:44 Stepping into syndication
- 25:19 Having Multiple Coaches
- 30:56 5 Key Questions
Connect with Pasha:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- drum.io/dave
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Eric/Nick's Background:
- Nick is the co-founder and managing principal of Winterspring Capital and has over a decade of experience in all phases of commercial real estate, including asset management, sales, new construction development, and property management. While building his own portfolio, he has also guided many investors down the path of multifamily investment, management, or development. He is an expert on underwriting and asset management in the multifamily space and also the author of the top-rated book “Making Millions through Multi-Family Development.”
- Eric DiNicola, co-founder and managing principal, has a strong financial background spanning over a decade. Eric understands the importance of investment diversification. He began working in public equity in 2010 and moved into the private equity markets where he worked on valuations and capital raising. Joining forces with Nick in 2015, he leveraged his investment experience and expertise to accelerate the growth of our real estate business. Heading up our acquisitions team, Eric leans on his extensive broker network to keep our deal pipeline full.
In this episode we cover:
- 04:43 Opportunistic Investing
- 08:29 Understanding Submarkets within a MSA
- 12:26 Getting buy in from the city and locals
- 18:26 Buy and hold structuring
- 22:11 Lump sum preferred return
- 33:02 Patience involved in investing in Boston
- 36:00 5 Key Questions
- 46:59 Outro
Connect with Eric/Nick:
- Website
- LinkedIn (Eric)
- LinkedIn (Nick)
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Erik's Background:
- Managing Director of Cost Segregation Authority, providing services since 2006
- Prior to joining Cost Segregation Authority, Erik was an Operations
Manager for a multi-million dollar landscaping and design firm in Long
Island, NY. - Since heading west and joining Cost Segregation Authority, Erik has been speaking at local, regional, and national events. He brings with him a passion for identifying cost savings and educating commercial real estate owners on the benefits of cost segregation.
In this episode we cover:
- 02:04 - Explanation of Cost Segregation
- 06:04 - An Example
- 15:22 - The process to evaluate the assets
- 21:44 - The importance of a good CPA
- 29:23 - Can you be aggressive in the valuation?
- 33:25 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 34:59 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 37:43 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 41:27 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 43:15 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Erik:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Divine's Background:
- Divine owns a Website Copywriting business focused on helping real estate investors connect and gain visibility through their sites
In this episode we cover:
- 04:11 - Divine's Investor Only Niche In Copywriting
- 05:24 - Easy, quick fixes you can make to your website
- 08:02 - Determine Your Target Audience
- 14:00 - CTAs and Visitor Experience
- 18:42 - Some Common Fixes
- 21:35 - Unique Selling Points
- 26:00 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 27:38 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 28:16 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 29:54 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 32:04 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Divine:
- https://www.divinewritingagency.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Anthony's Background:
- Anthony Vicino is a serial entrepreneur who has helped build multiple multi-million dollar companies from the ground up by creating efficient systems that scale, utilizing value-based content marketing strategies, and always focusing on providing exceptional end-user experiences.
- He is a Best-Selling Author, Investor, and Small Business Owner who successfully managed his own personal portfolio of multifamily assets spread across the country before joining forces with Dan Krueger in 2019 to create Invictus Capital.
In this episode we cover:
- 02:31 Confidence In The Operators
- 05:53 Rent Control Legislation in the Twin Cities
- 13:24 Outlook in Twin Cities the next couple years
- 16:56 Continuing to do business in tough markets
- 20:45 Investor sentiment on changing markets
- 27:49 5KQ1
- 29:41 5KQ2
- 31:39 5KQ3
- 32:45 5KQ4
- 34:28 5KQ5
Connect with Anthony:
- Invictus Multifamily
- The Passive Investing Book
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Paul's Background:
- Paul is a multifamily and self storage investor based in Nashville.
- He started investing 5 years ago and he currently owns 96 apartments and 160 self storage units.
In this episode we cover:
- 02:30 - Managing Assets By Yourself
09:36 - Changing Investment Criteria When Bringing In Investors
13:28 - Adjusting When Expenses Adjust
17:57 - Return On Capex Dollars
20:32 - Navigating The Future Of The Market
25:36 - Next Iteration of Paul's Business
27:01 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
29:26 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
31:42 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
34:53 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
36:02 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Paul:
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
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Ken's Background:
- Founder of KRI Partners and the KRI Group
- 25 years of RE, banking, PE, and investing experience totaling over $2B in transactions
- Background in accounting/finance and also licenses to broker in OH and FL
In this episode we cover:
- 03:53 - Staying honest in the SEC's eyes
- 07:56 - It's all about experience
- 10:42 - Pay attention to deal structures
- 14:42 - Face time with every investor
- 18:36 - Creating a clear mission throughout the company
- 21:59 - Penny Wise, Pound Foolish
- 25:47 - Divorces with vendors
- 30:09 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 31:01 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 32:14 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 33:05 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 34:04 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Ken:
- https://www.kripartners.com/
- Multifamily Real Estate It's A Total Game Changer (Ebook)
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Mandy's Background:
- Entrepreneur, Multifamily Investor, Mama, Mindset Ninja, Women's Inspirational Leader, Eternal Learner, Coach, Dot Connector
In this episode we cover:
- 01:06 - Mindset Ninja
- 05:32 - Starting a mastermind/group
- 08:16 - Continuing momentum after the initial interest
- 11:07 - Your "Zone of Genius"
- 17:07 - Value Value Value
- 21:37 - Aim small get small, aim big get big
- 28:34 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 29:24 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 30:50 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 32:09 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 32:54 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Mandy:
- https://www.mandymcallister.com/
- https://www.facebook.com/groups/awamgroup/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Juan's Background:
- Founder of Gen Wealth Capital Group
- Has over 900 units AUM totaling $83MM in Texas and Arizona
- Host of the Commit to Wealth Podcast
In this episode we cover:
- 02:06 - How Juan has been managing all of the deal transactions of late
- 05:54 - Getting to the top of a broker's investor list
- 08:13 - Building relationships is a marathon
- 10:49 - Responsiveness can win a deal
- 14:16 - Juan's underwriting workflow/criteria
- 18:51 - Tracking deals and their data using AirTable
- 21:11 - Keeping KPIs on track with systems
- 23:34 - Finding and addressing bottlenecks
- 28:22 - The risk of losing a deal by being too conservative
- 30:26 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 30:54 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 32:21 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 33:51 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 35:30 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Juan:
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Bob's Background:
- Bob Lachance has been an active business owner and real estate investor since 2004. Bob is an entrepreneur by nature and currently owns, operates and manages many different businesses around the world. Bob helped create the top Real Estate Education and Mentor/Coaching program in existence today, FortuneBuilders, INC. Bob also created one of the premiere Real Estate Virtual Assistant Staffing companies, REVA Global, LLC (REVA). Bob is an expert in the real estate investing space and has an incredible reputation for creation, implementation and execution.
- Prior to getting into the business sector, Bob had a successful 8 year professional ice hockey career which allowed him the privilege of traveling and living all over the US and Europe. Bob was also a member of the 1995 National Championship Boston University Ice Hockey Team.
In this episode we cover:
- 02:44 - Bob's foray into real estate
- 05:01 - Creating a virtual assistant outsourcing business
- 08:57 - Building the business out of necessity, and what virtual assistant can provide help with
- 11:21 - How to decide which tasks to hire out
- 16:35 - Document everything you do so it's repeatable
- 18:28 - Assigned dollar values to tasks
- 20:57 - VAs vs EAs
- 24:03 - What onboarding with REVA looks like
- 30:19 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 31:12 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 32:16 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 34:33 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 35:35 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Bob:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Dave's Background:
- Founder and President of Results Enterprises, creator of The Money Partner Formula. Dave has been investing in real estate since 2003
- Host of the Property Profits Real Estate Podcast
- Author of 8 books on marketing and real estate investing
In this episode we cover:
- 03:12 - Dave's introduction to capital raising
- 10:22 - Understanding investor motivation
- 14:59 - Talking to someone who isn't a RE expert
- 20:32 - Communication, communication, communication
- 25:34 - Showing and attracting confidence
- 32:20 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 33:30 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 34:55 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 35:42 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 36:56 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Dave Dubeau:
- moneypartnerformula.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Michael's Background:
- Michael was a high-net-worth insurance producer for about a decade, really at the top of his game there for a fortune 500 company. He transitioned to multifamily after dabbling into single family real estate, in 2015. He is a GP in over 1400 units and that's $74 million worth of assets, and that's across five states, Texas, Minnesota, Wisconsin, Alabama, New Mexico, and that's all through his group, the Granite Towers Equity Group. He is a co-founder of that group, the PE firm there. And just a couple more things about Michael. He is the co-host of the 'Keeping It Real Estate Show', which I love that name by the way, and the author of the Four Steps To Successful Passive Investing.
In this episode we cover:
- 04:02 - Operating/owning across multiple states
- 07:08 - Sizing up a PM group to fit your needs
- 10:47 - Divorcing a PM
- 14:07 - Homerun boots on the ground teams
- 20:57 - Remote calls on property performance
- 23:08 - Favorite KPIs to track a property's performance
- 29:12 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 29:43 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 30:29 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 31:31 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 32:46 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Michael:
- Mike@granitetowersequitygroup.com
- granitetowersequitygroup.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Chris' Background:
- Chris Larsen is the founder and Managing Partner of Next-Level Income
- Chris has been investing in and managing real estate for over 20 years.
- He bought his first single-family rental at age 21, while completing his M.B.A. in Finance at Virginia Tech
- He began syndicating deals in 2016 and has been actively involved in over $400 million of real estate acquisitions.
- In addition to real estate, Chris has invested in equities, oil & gas, and angel investing groups
In this episode we cover:
- 11:56 - Population growth and industries to target
- 15:08 - Digging deeper into zip codes
- 18:57 - Chris' change in thesis
- 25:45 - Chicken or egg - picking your market
- 30:36 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 31:30 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 32:20 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 34:03 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 35:24 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Chris:
- http://nextlevelincome.com
- chris@nextlevelincome.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Steve's Background:
- Steve is the managing partner of Von Finch Capital
- He has raised eight figures worth of capital for a bunch of commercial real estate deals
- He has prior experience flipped over 200 houses
- He is also the host of the Investor Mindset Podcast
In this episode we cover:
- 03:07 - Where Steve found success
- 06:18 - Skills that every successful investor has
- 13:05 - Identifying challenges as opportunities
- 16:14 - The decision making process
- 27:06 - Masterminds with the most value
- 29:55 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 30:34 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 31:12 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 31:53 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 32:55 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Steve:
- https://vonfinch.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Jenny and Steve's Background:
- Jenny and Steve are the founders of Vertical Street Ventures where they have quickly scaled to over 1000 units under managements in less than one year
- Jenny has a background as a Sales Director at Proctor and Gamble for over a decade and focuses on the investor relations and asset management side of the business
- Steve has a background in business consulting and focuses on acquisitions and key strategic partnerships
In this episode we cover:
- 04:08 - A thousand units in 7 months
- 10:15 - Complementary and supplementary roles
- 15:51 - How to structure your meetings
- 21:46 - Being critical and encouraging
- 26:05 - Honesty, honesty, honesty
- 28:51 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 31:07 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 34:06 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 38:03 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 40:06 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with them:
- Website | https://verticalstreetventures.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Mark's Background:
- SMK Capital Management is a family-owned and operated real estate investment company
- Mark has been real estate investor for over 15 years and been involved on pretty much every facet of the deal cycle
- He has been involved in over 120 properties with a combined value of over $1 billion and created and managed over 40 real estate partnerships with investors
In this episode we cover:
- 02:00 - Outsized risk-adjusted returns
- 06:34 - Preferred exits in today's environments
- 12:12 - Pivoting business plans and preserving capex
- 14:28 - Balancing act on lease-ups
- 18:34 - Conversations with Limited Partners
- 24:09 - Three legged stool
- 25:32 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 26:25 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 28:12 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 31:26 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 32:48 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Mark:
- Website | http://smkcap.com
- Email | info@smkcap.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Yomesh's Background:
- Cofounder of Exponential Equity which operates large multifamily and development deals
- Real estate investor for over 14 years in the Charlotte area
In this episode we cover:
- 05:06 - Yomesh's focus on operations
- 08:33 - Course correcting
- 13:01 - Measuring what matters
- 17:32 - Areas for opportunity
- 21:42 - Staff retention on a property
- 25:26 - Growing to be vertically integrated
- 29:24 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 30:14 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 31:56 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 34:48 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 36:12 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Yomesh:
- https://exponential-equity.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Josh's Background:
- CEO of Freeland Ventures & Strategic Real Estate Coach
- 3000+ units operated with over $40MM raised in total
- Host of Accelerated Real Estate Investors Podcast
In this episode we cover:
- 00:03:13 Josh's history impression of today's market
- 00:06:37 Expectation of deal flow in 2021/22 and the JOBS act
- 00:09:41 Underwriting competitively
- 00:12:41 Shying away from your target market
- 00:14:20 Evolution of investor expectations
- 00:22:58 Josh's story of judging a book by it's cover
- 00:28:05 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 00:30:32 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:32:34 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:36:29 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:38:49 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Josh:
- https://freelandventures.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Jeff's Background:
- Executive Vice President of Adivo Contrsuction
- Adivo is a national general contractor with over 50 years of combined construction expertise specializing in the value-add improvements of apartment communities.
- They have completed over 100 projects over that time
In this episode we cover:
- 04:59 - Deep value adds and what you have to look at upgrading
- 14:12 - Highest return of your dollars
- 18:10 - Interiors or Exteriors?
- 21:10 - Don't force the market
- 24:52 - What a full steam ahead project looks like
- 29:44 - Doing (or not doing) business with people who want to cut corners
- 36:58 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 37:24 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 38:34 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 39:58 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 41:04 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Jeff:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Jerome's Background:
- Founder of Myers Development Group where they focus on repositioning workforce housing
- Host of Mid Atlantic Multifamily Investing Conference
- Host of Multifamily Missteps
In this episode we cover:
- 02:45 - Jerome's ideal opportunities in mom and pop sellers
- 06:09 - No need to change strategies post-COVID
- 09:40 - Why Jerome doesn't shy away from recourse debt
- 14:51 - Finding partners organically
- 19:47 - Enjoying the company of those around you in the business
- 23:09 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 23:55 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 25:32 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 28:24 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 30:31 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Jerome:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Beau's Background:
- Founder of Beau Beery Multifamily Advisors
- He works in multifamily brokerage, northern half of Florida
- Has a YouTube Channel Beau Knows Multifamily and his book out Multifamily Investors Who Dominate
In this episode we cover:
- 02:17 - Beau's jump into his own brokerage
- 06:09 - Current market sentiment
- 15:50 - Buying right and becoming more qualitative
- 21:31 - Seller's mentality in today's climate
- 26:01 - Dealing with 'testers'
- 31:15 - Beau's advice on where to invest in the coming years
- 37:57 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 39:04 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 40:04 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 43:07 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 44:49 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Beau:
- Website
- Youtube
- Book
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Sam's Background:
- Founder of Bates Capital which invests in multifamily and development projects throughout the southeast
- Bates Capital owns/operates 750 doors totaling over $100MM
In this episode we cover:
- 02:32 - Intro to Sam's expertise in asset management
- 07:31 - Vetting a PM and their work culture
- 10:36 - What the weekly/monthly meetings with a PM look like
- 16:31 - Clever KPIs to look at when evaluating performance
- 18:52 - The risk of pushing rents too far
- 26:03 - More KPIs and some hacks to reduce maintenance expenses
- 32:07 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 33:38 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 34:26 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 35:22 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 36:29 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Sam:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Hersh and Nick's Background:
- Both active military in the US Navy
- Founders of Raivu Capital
- RaiVu Capital focuses on multifamily and MHP assets throughout the south
In this episode we cover:
- 01:44 - RaiVu's step into MHP
- 05:03 - Coaching investors on the differences in MHP vs traditional multifamily
- 08:56 - Tenant owned vs property owned homes
- 11:26 - Projects Raivu is comfortable getting into
- 13:25 - How exit plans are thought out on any given deal
- 17:54 - The pain points and learning curve Nickand Hersh experienced learning MHP investing
- 24:52 - Future business plans and continuing great partnerships
- 32:18 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 33:24 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 36:04 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 39:01 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 41:39 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
- 31:53 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Hersh/Nick:
- Website | https://raivucapital.com/
- Email | nick@raivucapital.com
- LinkedIn | https://www.linkedin.com/in/nicholasvu
- Email | hersh@raivucapital.com
- LinkedIn | https://www.linkedin.com/in/hershrai/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Gene's Background:
- Founding partner of Trowbridge Law Group
- They primarily deal in 506b and 506c fundraising campaigns.
- The firm has written offerings for more than 5 billion in money raised
- Gene is also a former syndicator.
In this episode we cover:
- 05:59 - Fundraising landscape through COVID
- 07:30 - Benefits of 506b with a large investor pool
- 11:58 - Moving to 506c is less risky
- 13:48 - Raise via 506c is you know you're funded
- 15:57 - Getting sponsors ready for other asset classes
- 17:56 - Deal structure trends
- 21:54 - The risk of overraising
- 24:54 - Protecting yourself from misleading preferred returns
- 27:34 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 28:17 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 29:03 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 30:21 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 31:53 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Gene:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Kent's Background:
- Kent is the managing director and partner at the firm Birge & Held, a vertically integrated multifamily private equity firm based in Indianapolis IN.
- They are one of the top apartment owners in the country with 15,000+ units
- Kent focuses on mid-size multifamily deals in secondary and tertiary markets for the team
In this episode we cover:
- 00:03:03 Targeting under 100 units
- 00:07:03 Match investors' goals with the right deal type
- 00:10:57 Overcoming operational inefficiencies
- 00:16:44 More about PropTech
- 00:19:56 Important metrics in secondary/tertiary markets
- 00:22:27 Don't risk capital you don't need to
- 00:27:22 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 00:28:24 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:28:59 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:31:31 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:35:00 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Kent:
- Website
- Podcast
- Bigger Pockets
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Josh's Background:
- Co-founder of DXE Properties where he serves as the acquisitions and financing lead
- Prior to DXE, Mr. Eitingon founded JAE Property Group
In this episode we cover:
- 00:03:02 Josh's loan assumption deal
- 00:06:17 The deal also involves a TIC!
- 00:11:53 Why this deal makes sense for their business plan
- 00:15:42 Planning CapEx on a longer hold
- 00:21:31 Josh's confidence in their rent assumptions
- 00:25:30 The allure/dangers of interest only debt
- 00:28:50 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 00:29:53 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:31:16 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:34:13 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:35:20 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Josh:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Sterling's Background:
- Founder of Red Oak Development which focuses on single family development and multifamily/hotel acquisitions
- Sterling originally started his RE career in wholesaling and how has 350+ doors under ownership
In this episode we cover:
- 00:02:57 Deciding to consolidate business entities
- 00:05:21 Leaning on your partners' expertise
- 00:08:28 Different business goals for each arm of Sterling's company
- 00:12:42 Key partnerships that's led Sterling to expand
- 00:14:44 Sterling's value prop
- 00:15:56 Assignment of roles to manage a project
- 00:17:59 Calculating your goals
- 00:22:16 Sterling's home run hotel connection
- 00:28:14 Investor expectations across multiple asset classes
- 00:32:13 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
- 00:32:48 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:33:22 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:34:52 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:36:01 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Sterling:
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Vitaliy's Background:
- Co-founder of The Digital Collective which creates standout digital experiences for syndication firms to attract more high net-worth investors online. They help their clients find the perfect mix of a scalable investor acquisition strategy with an authentic message.
In this episode we cover:
- 00:01:50 How do you get a broker to trust you?
- 00:04:20 Starting with brand identity
- 00:08:28 Keep your website "contained"
- 00:12:41 Have a strong value proposition
- 00:17:30 Home Base vs. Landing Page
- 00:20:57 Lead magnets and everyone's style is different
- 00:25:53 5KQ1 - If you could only pick one trade that explains your success, what is that trait and why?
- 00:28:14 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:30:15 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:32:54 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:36:57 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Vitaliy:
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Jose's Background:
- Jose Tello is a Principal at Bayshore Investment Partners with over eight years of experience focused primarily on multifamily and industrial real estate investments. During his tenure, Mr. Tello has overseen the equity structuring, financing, closing, and operations of ten multifamily assets across the Southeast. Additionally, Mr. Tello leads investor relations, acquisitions, and asset management at BIP. Previously, Mr. Tello served as a Senior Associate for a Single-Family Investment Fund based in Miami.
In this episode we cover:
- 00:01:13 Jose's background
- 00:09:50 Jumping straight into 200+ unit acquisitions
- 00:12:49 Getting every team up to speed
- 00:17:48 Leaning on PM to scale better
- 00:25:26 Navigating talks with investors about market changes
- 00:28:45 Not raising for a 'thin' deal just to get a deal done
- 00:31:59 5KQ1 - If you could only pick one trade that explains your success, what is that trait and why?
- 00:32:48 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:35:18 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:38:10 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:40:50 5KQ5 - What have you been focusing on lately to improve yourself or your business?
- 00:38:18 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Jose:
- https://bayshoreinv.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Dylan's Background:
- Founder at the Requity Group out of Tampa, Fla
- $100MM and 300+ units across multifamily and mobile home parks
In this episode we cover:
- 00:06:33 Dylan's foray into MHP
- 00:10:19 Risk adjusted returns
- 00:13:47 Average investment profile
- 00:17:50 The 90 day takeover plan
- 00:20:59 The goal of tenant owned homes
- 00:25:43 What rent-to-own conversion typically look like
- 00:31:50 Biggest takeaways investing in MHP
- 00:34:29 5KQ1 - If you could only pick one trade that explains your success, what is that trait and why?
- 00:35:16 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
- 00:36:25 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:37:10 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:38:18 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Dylan:
- dylan@therequitygroup.com
- therequitygroup.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Kyle's Background:
- Business development at Arize, a real estate tech company that provides smart home tech infrastructure to commercial real estate
In this episode we cover:
- 00:02:10 Most popular proptech for apartment buildings
- 00:04:52 Return on investment
- 00:07:12 Adoption trends
- 00:08:51 Operational efficiencies with this tech
- 00:10:42 Most surprising need from customers
- 00:17:12 What does the future of real estate look like?
- 00:23:51 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:24:11 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:24:54 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:26:22 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:27:32 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Kyle:
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Hemal's Background:
- Hemal is the founder and managing partner of Exponential Equity. Hemal started his real estate investing career in 2012 and founded Exponential Equity to focus on his passion of helping busy families achieve financial freedom through fantastic opportunities in commercial real estate investments.
- Prior to establishing Exponential Equity, Hemal provided management consulting services to several fortune 100 companies across three continents while creating a portfolio of businesses that he scaled and exited including an outsourcing company and a private lending firm.
In this episode we cover:
- 00:02:28 Why Multifamily?
- 00:03:58 Picking investment criteria and sticking to it
- 00:06:16 100 deals a month
- 00:09:19 Leaning on your partners
- 00:11:11 Hemal's superpower
- 00:13:24 Drinking through the firehose
- 00:14:48 Hemal's first passive investments
- 00:17:32 It's Who not How
- 00:19:46 Outsourcing extraneous tasks
- 00:21:43 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:22:49 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:24:22 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:25:57 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:27:27 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Hemal:
- https://exponential-equity.com/
- https://www.linkedin.com/in/hemalbadiani
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Logan's Background:
- Commercial Broker and Expert in 1031 exchanges
- Host of “Compression” and The LiveFree Investors Podcast
In this episode we cover:
- 00:03:37 Logan adding value to 1031 clients
- 00:06:25 Tenant In Common structures
- 00:10:09 5 main benefits of real estate
- 00:12:49 Shortening the curve in a new market
- 00:18:27 What you can do if you sell before your 1031
- 00:21:29 Getting ready for the 1031 sprint
- 00:28:00 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:29:16 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:30:33 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:32:29 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:33:51 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Logan:
- https://www.linkedin.com/in/livefreeinvestments/
- https://www.livefreeinvestments.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Meg's Background:
- Meg founded CA South in 2016 with the idea of bringing to Nashville her sense of design and style of building honed from her days constructing in California. Meg quickly recognized the unique under-supply of residential condos in this market, and began by being focused on this asset class. As CA South raised its first dedicated fund in early 2019, the firm expanded beyond residential condos to include multifamily mixed-use, industrial and office projects, as well as opportunity zone funds.
In this episode we cover:
- 00:01:54 Meg's Background
- 00:03:49 Perspective and approach to COVID
- 00:08:08 Risk profiles in regards to development
- 00:11:06 Relationships that close large deal sizes
- 00:13:31 Meg's deal flow in multifamily
- 00:17:17 Highest ROI capex dollars
- 00:19:11 PM company addition - necessary to scale?
- 00:21:40 Biggest business accelerators
- 00:25:16 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:27:00 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:27:51 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:28:48 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:30:13 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Meg:
- https://casouthdevelopment.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Kam's Background:
- SFH, MFH, and 1031 investor
- Began passively investing in apartment syndications and wanted to find the best deals available
- Founded Park Place Investments to bring the best offerings under one roof
In this episode we cover:
- 00:01:20 Kam/s foray into multifamily
- 00:06:18 Kam's vision for Park Place
- 00:09:30 Gathering feedback
- 00:11:28 Capturing and closing deals
- 00:14:08 Green flags/red flags
- 00:17:31 Creating an inviting and education platform
- 00:25:25 How tech could bring liquidity to RE investing
- 00:28:33 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:28:54 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:30:19 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:31:46 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:32:15 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Kam:
- https://parkplaceinvestment.com/
- info@parkplaceinvestment.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Veena's Background:
- Veena Jetti is the founding partner of Vive Funds, a unique commercial real estate firm that specializes in curating conservative opportunities for investors.
- Veena, also a founding partner of Enzo Multifamily, has over a decade of real estate experience and over $1B+ in real estate assets over her career in both the startup world as well as the corporate world.
In this episode we cover:
- 00:01:57 Taking over the family biz
- 00:05:52 Veena's take on investor relations
- 00:07:29 Growing investor base vs maintaining what you have
- 00:09:45 When to raise funds
- 00:14:01 Setting expectations for potential future deals
- 00:15:41 Strategy shift with COVID
- 00:19:21 Renovation on demand program
- 00:27:18 Investors seem to be diverging
- 00:29:58 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:30:36 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:32:30 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:33:43 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:35:10 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Veena:
- veena@vivefunds.com
- https://vivefunds.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Jake's Background:
- CEO of Groundbreaker, a real estate software platform that helps syndicators be better syndicators
- Former REIT investment manager
In this episode we cover:
- 00:01:11 Jake's interest in starting his company
- 00:04:33 Early stages of Groundbreaker
- 00:07:40 Growing with feedback from customers
- 00:09:18 High level description of Groundbreaker
- 00:12:34 Getting set up in the software
- 00:16:45 Jake's role in the business now
- 00:22:47 5KQ1 - If you can only pick one trait that explains your success, what is that trait and why?
- 00:23:13 5KQ2 - What is the most uncharacteristic thing you've done in your business? And why did you do it?
- 00:24:19 5KQ3 - Can you name a time where you felt like you were not going to end up successful? How did you overcome that fear?
- 00:24:53 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
- 00:26:21 5KQ5 - What have you been focusing on lately to improve yourself or your business?
Connect with Jake:
- jake@groundbreaker.co
- https://groundbreaker.co/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Ryan Murdock, I hope you enjoy it.
Ryan's Background:Ryan spent 10 years in the electronics manufacturing industry before transitioning to real estate investing and property management in 2007. He has extensive management experience in many facets of real estate including retail, office, multi-family, HOA, and especially mobile home parks – including nationwide consulting and turn-around projects. Ryan has been a licensed real estate broker since 2008 and owns and operates a portfolio of residential rental properties.
In this episode we cover:
- 00:02:52 Ryan's background and the skills he brought to RE investing
- 00:05:16 Partnering with Brandon Turner
- 00:07:07 Managing vs Micromanaging
- 00:09:18 Building processes for anyone to adopt
- 00:12:23 Giving up trust to a new partner/hire
- 00:14:25 Focusing on higher level tasks
- 00:16:23 Fighting fires while staying in your lane
- 00:19:59 Giving Feedback on deals
- 00:24:07 Introspective on the business
Connect with Ryan:
- ryan@odcfund.com
- https://odcfund.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Matt Faircloth, I hope you enjoy it.
Matt's Background:
- Matt, originally from Baltimore, Maryland, graduated from Virginia Tech with a degree in Engineering. After playing Robert Kiyosaki’s Cash Flow Game, Matt decided to quit his safe and secure job working as an engineer in a Fortune 500 company to become a full time real estate investor. Under Matt’s leadership, DeRosa has completed over 30 million in real estate transactions involving private capital including fix and flips, single family home rentals, mixed use buildings, apartment buildings, office buildings, and tax lien investments. Matt has an extensive expertise in connecting passive investors to lucrative investment opportunities through syndications, private loans and joint ventures.
- Matt Faircloth is an active contributor to BiggerPockets.com through Facebook Live, teaching webinars, and blogging. He leads the Mentorship Mondays series on DeRosa’s YouTube channel where he answers weekly real estate investing questions
In this episode we cover:
- 00:04:32 'Magic word' to listen for
- 00:06:41 Three tiers of investor relationships
- 00:10:32 Don't let timing deter you
- 00:12:53 Tools to stay top of mind
- 00:19:24 What and how many forms of communication should you try
Connect with Matt:
- Text DEROSA to 66866 for tons of good info and contact
- https://www.derosagroup.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Andrew Campbell, I hope you enjoy it.
Andrew's Background:
- Andrew Campbell is a native Austinite and real estate entrepreneur who broke into real estate investing first as a passive investor in 2009. In 2012 he transitioned into active investing and management of a personal portfolio that grew to 76 units across Austin and San Antonio. He earned his stripes building and managing his personal portfolio before moving into larger multifamily buildings. At Wildhorn, he is focused on Acquisitions and maintaining Investor Relations, leveraging his marketing background to build long-term relationships. Today, Wildhorn Capital controls $175+mm portfolio of over 1700 units in Texas.
Andrew’s background is in Market Research & Brand Strategy, spending time in both advertising agencies and emerging technology consultancies, where he was most recently a Partner at an award-winning app developer. He received a BS in Advertising from The University of Texas at Austin and an MBA from Baylor University.
In this episode we cover:
- 00:02:26 Building brand awareness
- 00:03:59 Solving problems for others
- 00:06:17 Do what you're best at
- 00:09:15 Getting a 'green light' first impression
- 00:11:36 Balancing all relationships
- 00:14:00 What to do when risks don't align
- 00:16:50 Three legs of the stool
- 00:19:07 Attending to everyone who is interested in a deal
- 00:21:31 Deal or Equity first?
- 00:23:23 Why are you trying to raise money?
Connect with Andrew:
- https://wildhorncap.com/
- andrew@wildhorncap.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Jeff Holst, I hope you enjoy it.
Jeff's Background:
- Jeffrey Holst is passionate about real estate investing. He completed his first flip in 2005, while he was in law school, and currently owns and manages properties in Michigan, Tennessee and Georgia.
Jeff is a member of the National Association of Realtors and is an affiliate broker licensed by the state of Tennessee.
He has been involved in hundreds of transactions ranging from single family homes to larger commercial properties such as hotels, grocery stores and apartment buildings.
Jeff graduated early and with honors from Michigan State College of Law where he was the fall 2006 graduating class speaker.
He is licensed to practice law in Michigan and Tennessee. He also holds a Master’s Degree in Business Administration from Grand Valley State University.
In this episode we cover:
- 00:01:55 No bad day philosophy
- 00:07:15 Accepting bad news and finding the positive
- 00:13:18 Affirmations and creating habits
- 00:16:46 Choosing your words carefully
- 00:21:41 How to materialize the positive thoughts
Connect with Jeff:
- https://www.facebook.com/lastlifeever
- https://www.facebook.com/holstjef
- https://www.jeffreyholst.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Andrew Cushman, I hope you enjoy it.
Andrew's Background:
- After obtaining a BS in Chemical Engineering from Texas A&M University, Andrew worked for a large food company for 7 years in a variety of supervisory positions, including Plant Manager where he was responsible for plant operations, maintenance, plant personal, and plant finances. Andrew specialized in turning around underperforming plants and departments and was relocated to various facilities throughout the U.S. to perform this task. In 2007 Andrew left his corporate position to start a business in real estate investment. Starting off with single family properties, Andrew completed 23 single family transactions (purchase, rehab, sell), all of which earned significant profits for both his business and investors. In 2010 Andrew transitioned full-time to the acquisition and repositioning of multifamily properties and has successfully acquired over 1,800 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and trying not to be outwitted by his two young boys.
In this episode we cover:
- 00:02:23 What deals Andrew looks at during COVID
- 00:07:04 Where priorities are for his business to protect his acquisitons
- 00:09:49 Criteria a property must meet to be a 'buy'
- 00:16:51 What to do today to be ready for a deal when it comes
- 00:22:28 Keeping tabs on brokers
- 00:26:06 Metrics that HAVE to be met
- 00:29:03 Underwriting new reserve rules
Connect with Andrew:
- https://www.vpacq.com/
- https://www.linkedin.com/in/andrew-cushman-959471a/
- https://www.biggerpockets.com/users/AndrewC58
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Kevin Heras, I hope you enjoy it.
Kevin's Background:
- Kevin Heras is a co-founder at InvestNext, a software platform that modernizes the way real estate syndicators raise and manage capital. Prior to founding InvestNext, Kevin worked as a program manager at Atrio Systems, a technology consulting firm.
In this episode we cover:
- 00:04:51 Identifying needs for an investment platform
- 00:06:01 Key feedback from sponsors and investors
- 00:09:04 Best practices for a sponsor to treat investors
- 00:14:13 Involving less tech friendly investors
- 00:16:24 Relationship first, investment second
- 00:19:24 Green flags/red flags
Connect with Kevin:
- http://investnext.com/
- kevin@investnext.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Puja Talati, I hope you enjoy it.
Puja's Background:
- Puja Talati has real estate experience including overseeing $240M+ in real estate assets. She has expertise in marketing, strategic growth planning, innovation, and operations. Puja also consults with Fortune 500 companies, lending her marketing and branding expertise. She is a former brand manager at The Hershey Company where she managed and marketed iconic brands such as Hershey’s KISSES chocolates, achieving above growth targets for the $420M brand.
In this episode we cover:
- 00:03:03 Marketing cost efficiently
00:04:25 Timing matters
00:06:13 First steps to start your brand
00:08:30 To hire out or not?
00:10:32 How to manage a content creator
00:14:33 Getting stickiness in your network
00:17:28 Driving people into your funnel
00:19:15 Tools to manage relationships
00:21:00 Where to find and interpret social media data
00:24:48 How much should you commit?
00:27:25 Some free/cheap tools to be cost effective
Connect with Puja:
- investor@jtcapitalgroup.com
- http://www.jtcapitalgroup.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Erik's Background:
- Erik is the Chief Development Offer for Pinnacle Storage Properties. He oversees all facility expansions, renovations and ground-up developments from initial due diligence to entitlements through Certificate of Occupancy. He has successfully managed facility expansion in existing properties as well as a ground-up development.
In this episode we cover:
- 00:02:25 The value add model in storage
- 00:05:42 Mitigating risk on developing
- 00:09:24 Climate vs non-climate
- 00:14:33 Best return on capital expenses
- 00:20:54 Underwriting potential upside
- 00:23:36 Typical return profiles
Connect with Erik:
- pinnaclestorageproperties.com
- ejosterhus@yahoo.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Yakov Smart, I hope you enjoy it.
Yakov's Background:
- Yakov Smart is considered to be the leading expert when it comes to attracting A-List investors and raising capital using LinkedIn. He's the Author of Disrupting LinkedIn and a sought-after authority by top business owners and sales leaders world-wide.
In this episode we cover:
- 00:02:10 Understanding Linkedin
- 00:06:21 Getting your profile ready
- 00:13:23 High dollar per hour tasks on the platform
- 00:18:11 Building a list
- 00:21:41 Automating the right way
Connect with Yakov:
- https://www.linkedin.com/in/yakovsavitskiy/
- http://linkedleads.us/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Dave Spooner, I hope you enjoy it.
Dave's Background:
- Co-founder of Innago, a property management software designed to simplify life for small to mid-sized landlords. He has been involved in the real estate technology space for the last 6 years, working to enhance the way landlords and tenants communicate. In addition to his expertise in content marketing, Dave utilizes his experience with entrepreneurship and management to help landlords achieve sustained success.
In this episode we cover:
- 00:01:33 Intro to Innago
- 00:05:24 Communications and feedback
- 00:06:44 What tenants care about when they have issues
- 00:09:46 The first interaction
- 00:13:15 Showing appreciation
- 00:14:07 Family oriented approach
- 00:17:52 When you ask to pay matters
Connect with Dave:
- https://innago.com/
- dave@innago.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Mike Taravella, I hope you enjoy it.
Mike's Background:
- Previous experience as a CPA having worked for Ernst and Young
- Started investing in RE in Michigan in 2016 and is now the asset manager at Rand Partners
In this episode we cover:
- 00:03:42 Managing the manager
- 00:04:22 Levels of asset and property management
- 00:06:23 Weekly KPIs to look at on a property
- 00:08:54 Getting the right tenant applications
- 00:11:43 Being realistic with your business plan
- 00:14:26 How Mike's team handles feedback from tenants
- 00:15:46 What garners good feedback
- 00:16:59 Fostering a community
- 00:21:06 Day in the life of asset management
Connect with Mike:
- miket@randcre.com
- https://randpartners.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Dan Kennedy, I hope you enjoy it.
Dan's Background:
- Dan has actively invested in real estate since 2011 working on his own single family portfolio
- Principal at Driven Capital Partners which syndicates multifamily and commercial real estate
- Dan previously had a 12 year career as a professional soccer player with the LA Galaxy
In this episode we cover:
- 00:02:16 Dan's goals after his MLS career
- 00:06:02 Educating investors on the risks/rewards of investing
- 00:09:17 Understanding the lifestyle goals of high performance individuals
- 00:13:35 Getting investors 'ready' for a deal
- 00:15:25 Getting the story right
- 00:17:33 Diversifying your portfolio
- 00:20:45 Focusing on bottlenecks
- 00:22:58 Where Dan engages investors
- 00:25:33 Giving attention to everyone
- 00:30:18 What's really important in a deal
Connect with Dan:
- https://www.drivencap.com/
- dan@crivencap.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Charles Seaman, I hope you enjoy it.
Charles' Background:
- Managing Member and Acquisition Manager of Three Oaks Management LLC which invests in the southeast US (Carolinas and Georgia)
- He has 14 years of prior experience working for a commercial real estate investor in NYC. During this time, he assisted the investor with acquiring deals, obtaining financing for them, and managing and leasing them after the deals were closed.
In this episode we cover:
- 00:03:33 Getting deals across the table
- 00:07:58 Maintaining relationships when giving feedback to brokers/sellers
- 00:12:17 Offering terms to win the deal
- 00:13:50 Funding earnest money
- 00:14:51 Moving forward in the closing process
- 00:17:40 Red and green flags
- 00:22:42 Creative ways to increase NOI
- 00:27:22 What to look for when walking the property
Connect with Charles:
- https://www.3oaksmgmt.com/
- https://www.linkedin.com/in/charles-seaman-90b9b932/
- charles@3oaksmgmt.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Travis Chappell, I hope you enjoy it.
Travis' Background:
- Founder of Build Your Network brand which includes a podcast and networking community to help individuals grow their business
- Founder of 30daypodcastlaunch.com which helps grow podcasting platforms to reach and grow their target audience
In this episode we cover:
- 00:04:58 All in from day one
- 00:06:56 Mentorship is worth the cost
- 00:10:10 Resources for online marketing
- 00:13:15 Leveraging facebook groups properly
- 00:16:15 "I help" phrases
- 00:20:14 Choosing your audience
- 00:22:51 Getting to know someone through a podcast
- 00:25:56 Quality, consistent content with context
Connect with Travis:
- http://travischappell.com/makemypodcast
- https://30daypodcastlaunch.com/
- http://buildyournetwork.co/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Doug Fullaway, I hope you enjoy it.
Doug's Background:
- Doug is the President of FourteenPlus which focuses in investing in the senior living.
- He was previously the CEO of Vigilan, one of the largest suppliers of software selling to thousands of senior living communities.
In this episode we cover:
- 00:03:19 How Doug grew his assisted living investor network
00:05:13 Adding value to investors and operators
00:08:03 Different types of assisted living
00:18:59 Niches in senior living for this decade
00:21:18 Underwriting labor on a senior living project
00:24:19 Common mistakes for someone new to this asset class
00:27:54 Where to start to get educated
Connect with Doug:
- dougfullaway@fourteenplus.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Brett Luskey, I hope you enjoy it.
Brett's Background:
- Vice President of Fairmont Management Company
- Fairmont manages 4500 Multi-family units throughout Texas as well as 750,000 SF of office, retail and flex space.
- Brett is responsible for the day-to-day operations of the portfolio, marketing and development, tenant relations, project financial analysis and human resources.
In this episode we cover:
- 00:01:54 Timeline of rent collections
- 00:04:41 When to get 'worried' about late payments
- 00:05:52 Communicating with tenants to make win-wins
- 00:11:01 Having rockstar PM staff
- 00:13:26 Asset and regional managers can make or break a deal
- 00:16:17 Working with sponsors
- 00:20:57 Enjoying a working relationship
- 00:23:10 Red flags
Connect with Brett:
- bluskey@fairmontmanagement.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Antoine Martel, I hope you enjoy it.
Antoine's Background:
- Invests in Memphis, TN and Cleveland, OH and is an expert at brand building and networking
- Martel Turnkey has sold well over $10 million worth of cash flowing real estate
- Book and podcast A Millennial's Guide to Investing in Cash Flowing Rental Properties
In this episode we cover:
- 00:03:52 Progression of network building
- 00:05:55 Consistency and value add approach
- 00:07:36 Getting specific in your networking efforts
- 00:10:37 How to use Instagram to grow your network
- 00:13:44 Zoho CRM
- 00:16:19 People want to talk to you
- 00:18:14 Getting someone into your business systems
- 00:20:13 Intentional actions pay off
- 00:21:54 Tips and tricks for Instagram ads
- 00:23:41 How much is a contact worth to you?
Connect with Antoine:
- https://martelturnkey.com/
- https://www.instagram.com/martelantoine/?hl=en
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Danny Randazzo, I hope you enjoy it.
Danny's Background:
- He has over half a decade of professional experience working as a financial consultant where he advised multi-billion dollar companies to improve their operations and balance sheets
- Principal at Passiveinvesting.com
- Within the company, Danny is focused on asset management, building relationships, investment analysis, planning, and all things finance
In this episode we cover:
- 00:04:36 Tighten up on your criteria
- 00:05:30 Danny's metrics to target
- 00:07:38 Diversifying your portfolio
- 00:11:06 Transitioning into different asset classes due to investor interest
- 00:13:30 Staying in your lane
- 00:17:30 Digging deeper
- 00:22:21 Other players that need to get involved to close
- 00:26:37 You can't plan for everything
- 00:28:47 Staying conservative
Connect with Danny:
- https://dannyrandazzo.com/
- https://www.multifamilyinvestornation.com/
- https://passiveinvesting.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Travis Watts, I hope you enjoy it.
Travis' Background:
- Director of Investor Relations at Ashcroft Capital, a national multifamily investment firm with more than $820M
- He has been investing in real estate since 2009 in multi-family, single-family and vacation rentals.
- Travis previous background is in the oil industry, spending 100-hour workweeks outside in extreme weather while putting everything he had into cash flow investments.
In this episode we cover:
- 00:03:25 Explaining the process of passive investing to someone green to the process
- 00:05:04 Operators - 1. Market - 2. Deal - 3
- 00:06:18 Controlling what you can in a passive investment
- 00:08:40 Networking to find the right operators
- 00:10:18 Hours spent 'passively' investing
- 00:12:51 Getting deal specific
- 00:15:01 Communications with operators
- 00:17:33 Types of metrics on deals Travis looks for
- 00:19:36 Redeploying capital in more deals
- 00:20:56 Expectations during COVID
- 00:22:57 Getting up to speed in the syndication model
Connect with Travis:
- https://ashcroftcapital.com/connectwithtravis/
- https://www.linkedin.com/in/traviswatts1234/
- https://www.facebook.com/travisjwatts
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Ryan Nunes, I hope you enjoy it.
Ryan's Background:
- Ryan was the #1 salesperson leading Oil and Gas Derivative Sales Teams while working at Wall Street banks for 13 years.
- He transitioned to multifamily last Spring and has co-sponsored $34 MM in Assets and is a passive investor in over 2,700 units across Texas, OH, Florida, Phoenix and Georgia.
- He launched Life Changing Capital last year and is a data driven multifamily syndicator that takes an institutional approach to a non-institutional segment of the asset class.
In this episode we cover:
- 00:04:50 Filtering out the noise
- 00:08:51 Disqualifying deals quickly
- 00:13:01 Using all in cost to determine a fair price
- 00:15:45 1% rule
- 00:16:28 How long Ryan spends on an initial screening
- 00:18:23 Handling feedback with a broker on a not so savory deal
- 00:20:16 When to involve the external team members
- 00:22:54 Being candid while asking for info on a competing property
- 00:25:01 Staying conservative and the risk of pushing rents
Connect with Ryan:
- https://www.lifechangingcapital.com/
- ryan@lifechangingcapital.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Kevin Dugan, I hope you enjoy it.
Kevin's Background:
- CEO of Altus Investment Group which encompasses a residential turnkey business and multifamily syndication
In this episode we cover:
- 00:03:50 How LinkedIn can be a useful tool
- 00:06:09 What direction Kevin takes to add value to his connections
- 00:08:15 Keeping consistent on the platform
- 00:10:27 What types of content to provide
- 00:12:36 Tools to keep track of content/ideas
- 00:14:30 Getting engagement
- 00:16:21 Getting better as you go
- 00:17:51 Not getting distracted in social media constantly while also staying engaged
- 00:19:44 Bringing relationships made online to the next level
- 00:22:05 Polish up your profile
- 00:24:47 Some LinkedIn 'hacks'
Connect with Kevin:
- https://www.linkedin.com/in/kevinkdugan/
- https://www.instagram.com/kevinkdugan/
- kdugan@altusig.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Bernard Reisz, I hope you enjoy it.
Bernard's Background:
- CPA and founder of 401kcheckbook.com which helps you with alternative investing, estate, and tax planning
In this episode we cover:
- 00:03:06 The different roads of tax deferral
- 00:06:46 The grey line on 1031 restrictions
- 00:08:19 Facts and court cases to support IRS jurisdiction
- 00:12:10 Leveraging estate planning to defer tax
- 00:13:47 Renting to yourself with an irrevocable trust
- 00:16:23 Death, taxes, and step us basis
- 00:18:58 Weighing your options
- 00:23:12 A family lesson
Connect with Bernard:
- https://www.401kcheckbook.com/
- https://www.agentfinancial.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Steve Wallace, I hope you enjoy it.
Steve's Background:
- 20 years in real estate law across commercial, residential, and bankruptcy law.
- Owns a boutique law firm Wallace Law Group which concentrates in real estate law, bankruptcy law, and corporate law.
- He's licensed to practice in New York, Florida, and Texas
In this episode we cover:
- 00:02:18 When to involve an attorney on a deal
- 00:03:38 How much time is preferred to close
- 00:05:54 No budge items when talking closing terms
- 00:07:43 Closing the gap between buyer and seller expectations
- 00:10:25 Getting eyes on LOI before acceptance
- 00:11:49 Getting the 'best bang for your buck' from an attorney
- 00:13:15 What Steve is seeing in transactions during COVID
- 00:19:23 Popularity of new construction
- 00:22:33 Getting out of a contract when unexpected things arise
Connect with Steve:
- Website
- Youtube Channel
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Adam Levine, I hope you enjoy it.
Adam's Background:
- Founder of Levine Capital
- Experience in Property Management and Hard Money Lending
- Now partnering with TCS Anika Homes to start a real estate fund investing in SFH portfolios nationwide
In this episode we cover:
- 00:03:12 Adding value while getting value
- 00:05:22 Scaling through SFH homes fund investing
- 00:09:03 Not having single points of failure
- 00:10:23 How to buy at scale to create opportunity
- 00:16:41 Different avenues of deal sourcing
- 00:19:57 What refinance/cashout looks like
- 00:23:29 Ending fund once the deal cycle is complete
- 00:29:37 Investing in what you know and are comfortable with
Connect with Adam:
- https://levinecapital.com/
- adam@levinecapital.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Yonah Weiss, I hope you enjoy it.
Yonah's Background:
- Business director for Madison Specs which is a Cost Segregation firm focusing on saving businesses tax dollars through cost seg studies.
In this episode we cover:
- 00:04:09 What is cost segregation?
- 00:07:44 Different amortization schedules on types of assets
- 00:09:18 The cost segregation study process and who has to be involved
- 00:11:22What size property does this begin to make sense?
- 00:19:44 Cutting corners and stories of cost seg gone wrong
- 00:23:18 A few things that you wouldn't think qualify for cost seg
Connect with Yonah:
- https://www.yonahweiss.com/
- https://www.linkedin.com/in/cost-segregation-yonah-weiss/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guests, Vehano Joseph and Nick Contessa, I hope you enjoy it.
Vehano and Nick's Background:
- Founders of Dreamstone Invest out of Atlanta/Tampa which owns $13MM in multifamily real estate
- Vehano has a CPA background, having worked in commercial banking, consumer goods, REITS, and more
- Nick brings an engineering background from residential construction and previously worked for IndyCar
In this episode we cover:
- 00:04:56 Aligning goals and future planning
- 00:08:08 Determining your goals and reversing what you need to do to get there
- 00:11:48 The concept and execution of a retrospective
- 00:15:35 Correcting course when the goalposts drift
- 00:19:20 Focusing on the process and not the results, they will inevitably follow
- 00:21:54 Sticking to your laurels and morals to not picking up the wrong business
- 00:23:33 How to quickly get to a "No" on a deal to move on, and if you can't, it's worth looking into further
- 00:25:30 Nick and Vehano's approach to keep projections conservative
Connect with Nick and Vehano:
- https://www.dreamstoneinvest.com/
- vehano@dreamstoneinvest.com
- nick@dreamstoneinvest.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Ivan Barratt, I hope you enjoy it.
Ivan's Background:
- Founder/CEO of Barrett Asset Management
- BAM controls over 250 million in assets across 3,500 doors
- He's raised over 60 million in equity since 2015
In this episode we cover:
- 00:02:24 Ivan's unconventional start in multifamily syndication
- 00:06:24 Mapping out a vision for his business
- 00:08:35 The value in just starting and moving past your fears
- 00:10:01 How Ivan has vertically integrated his business
- 00:11:00 Not trying to control everything and letting your talented teammates lead
- 00:14:56 Supporting a learning environment while also maintaining structure within a company
- 00:17:06 Taking care of family before investors/residents will always benefit both
- 00:20:34 Vertical integration and the competitive advantage
- 00:23:40 The momentum of paying it forward
Connect with Ivan:
- https://www.ivanbarratt.com/
- https://www.barrattassetmanagement.com/
- https://www.linkedin.com/in/ivanbarratt
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Between the Sheets - A Making Money In Multifamily Mini-SeriesThis mini-series features host Dave Morgia and guest Rob Beardsley as they discuss the philosophies, theory, nuances, and application of underwriting multifamily real estate deals using a syndication model.
Over the course of the series Dave and Rob will cover all the considerations you should be making while underwriting a deal with the intent to challenge your thinking and take a deeper look at what makes a deal succeed or fail.
In this episode the topic of focus is the relationship of cap rates and cashflows
Note: This series is very *visual. The first half of the show will be Dave and Rob discussing the theory behind the current topic. While the second half will entail diving into an underwriting spreadsheet and actually crunching the numbers. If you can, it is recommended you pause after the first half of the show and resume playing the second half on Youtube: https://youtu.be/RhwOhog9w5Y
Reach out to Dave: https://lvaRE.com/
Reach out to Rob: https://lonestarcapgroup.com/
Rob just wrote a book on underwriting! You can find that here
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Bethany Smith , I hope you enjoy it.
Bethany's Background:
- Director of Operations for one of the top residential RE sales teams in Utah and in 2019 went into Multi Family Investing full time
- Her and her husband Nate are currently building a World Financial Group financial services agency
- She is on the leadership team for MultiFamily Masters
In this episode we cover:
- 00:04:22 Bethany's dive into full time RE vs staying part time until she was comfortable
- 00:05:17 How she spent her time to make sure she made the right choice
- 00:07:24 Her best advice to someone starting out
- 00:09:40 The One Thing by Gary Keller
- 00:10:34 Bethany's first visit to walk down a property and key takeaways
- 00:12:55 Finding the right team and market
- 00:20:32 Theory of team dynamics
- 00:23:54 How to reach Bethany
Connect with Bethany:
- https://calendly.com/bethanysmith
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Christopher Corteau, I hope you enjoy it.
Chris' Background:
- Real estate Investor who closed on his first property in 2019 through his company, Cherrybrook Investments
In this episode we cover:
- 00:02:16 Where Chris sourced his deal
- 00:05:24 Negotiations and terms on the property
- 00:09:51 Projections on the value and income of the property post renovation
- 00:13:15 Managing tenant expectations while increasing premiums
- 00:16:49 Adjusting your business plan as unexpected events occur
- 00:20:03 Chris' exit strategy to get into long term debt and cash out his lending partner
- 00:22:19 Finding lenders that tailor debt to investors
Connect with Chris:
- cherrybrookllc@gmail.com
- https://www.biggerpockets.com/users/ChrisC503
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Zachary Beach, I hope you enjoy it.
Zachary's Background:
- COO of Smart Real Estate Coach
- Author of The New Rules of Real Estate Investing
In this episode we cover:
- 00:03:12 Buying and selling on terms
- 00:07:07 Balancing current business vs growth
- 00:08:44 Using buying on terms for multifamily real estate
- 00:13:30 How to figure out terms that will entice an owner to sell
- 00:15:55 The benefits of principal only payments
- 00:23:28 Starting the conversation to get an owner to sell
Connect with Zachary:
- zach@smartrealestatecoach.com
- http://www.smartrealestatecoach.com/
- The New Rules of Real Estate Investing
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Tim Karels, I hope you enjoy it.
Tim's Background:
- Owner of Falls Real Estate which owns and operates over $20MM worth of commercial and Multifamily Real Estate in Sioux Falls
In this episode we cover:
- 00:02:21 Tim's first property and what his team targets now
- 00:04:24 Growing a property management company in tandem with his acquisition business
- 00:06:34 How Tim was able to work on his business and not in it
- 00:11:51 The numbers needed to grow from part time maintenance staff to full time
- 00:13:53 Keeping his businesses separate and not letting one hand feed the other at the expense of investors
- 00:19:52 Keeping business as usual as possible during COVID
- 00:23:05 Starting multiple facets of your business and not being spread too thin
Connect with Tim:
- http://fallsre.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Ellie Perlman, I hope you enjoy it.
Ellie's Background:
- Founder/CEO of Bluelake Capital which invests in MF across the US
- Previous commercial RE lawyer and a PM at Israels largest RE company
- Founder of Ready2Scale, an mentorship program for real estate investors
In this episode we cover:
- 00:02:06 Ellie's pivot from asset/property management to multifamily acquisitions
- 00:05:35 Capital raising honestly and effectively
- 00:06:58 The time it takes for people to be used to 'the new you' and invest with you
- 00:09:41 Prepping investors for your first deal before you even have one
- 00:14:15 A quick raise Ellie and her team had to pull off after another partner failed to bring forward expected capital
- 00:17:52 Maintaining consistent communication with investors
- 00:20:14 Leveraging social media and finding your voice on those platforms
Connect with Ellie:
- ready2scaleinvesting.com
- ellie@bluelake-capital.com
- ellieperlman.com
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Anthony Scandariato, I hope you enjoy it.
Anthony's Background:
- Co-founder and Principal of Red Knight Properties
- 200+ units under management/ownership
- Previous background at Vision Properties where he had experience as an asset analyst
In this episode we cover:
- 00:02:15 Anthony's background in commercial real estate an analyst
- 00:04:18 Translating his skills to MF
- 00:07:57 Systematically tenanting a building
- 00:10:30 Selecting your market and advantages/disadvantages to consider
- 00:12:06 Avoiding the higher price points in the tri-state area to still get deals done
- 00:14:34 Some 'back of the napkin' math that can help you quickly determine how good a deal is
- 00:17:00 How mixed-use properties can be evaluated compared to a MF deal
- 00:18:06 Risk adjusted returns on mixed-use buildings
Connect with Anthony:
- https://redknightproperties.com/
- https://www.linkedin.com/in/anthonymscandariato
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Jamie Gruber, I hope you enjoy it.
Jamie's Background:
- Principal at CF Asset Group based out of Michigan
- Started investing in 2005
- Founder of Multifamily and More network, which has 18 meetups across the country and a podcast that Jamie co-hosts
In this episode we cover:
- 00:02:02 Jamie's first meetup and the goals behind starting it
- 00:03:59 The byproducts of the meetup platform that helped Jamie and everyone else to grow
- 00:05:04 How Jamie structures the cadence and invidual meetups to create more interactions and value
- 00:09:17 The power of chopping up longform content into digestible pieces
- 00:12:17 Barrier to entry when making new relationships and why value add marketing is important to break that barrier
- 00:14:18 Repeating his success with the meetup and brand with other meetup chapters
- 00:17:02 What he does and doesn't keep consistent within the different chapters
- 00:20:15 The huge benefits of internal networking between chapter leaders
- 00:22:48 How to start your building your brand TODAY
- 00:27:13 How to reach Jamie
Connect with Jamie:
- https://www.multifamilyandmore.com/
- https://www.instagram.com/multifamilyandmore/
- https://www.youtube.com/multifamilyandmore
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Between the Sheets - A Making Money In Multifamily Mini-SeriesThis mini-series features host Dave Morgia and guest Rob Beardsley as they discuss the philosophies, theory, nuances, and application of underwriting multifamily real estate deals using a syndication model.
Over the course of the series Dave and Rob will cover all the considerations you should be making while underwriting a deal with the intent to challenge your thinking and take a deeper look at what makes a deal succeed or fail.
In this episode the topic of focus is how COVID-19 has shifted the real estate market.
Note: This series is very *visual. The first half of the show will be Dave and Rob discussing the theory behind the current topic. While the second half will entail diving into an underwriting spreadsheet and actually crunching the numbers. If you can, it is recommended you pause after the first half of the show and resume playing the second half on Youtube: https://youtu.be/-FgJJkOFPC4
Reach out to Dave: https://lvaRE.com/
Reach out to Rob: https://lonestarcapgroup.com/
Rob just wrote a book on underwriting! You can find that here
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Travis Dillard, I hope you enjoy it.
Travis' Background:
- President/CEO of Inflow Communications with 20 years of technical communications experience
- In tandem, runs a RE syndication/investment firm Cadia Capital; they invest in commercial, multifamily, and mobile home parks.
In this episode we cover:
- 00:02:52 Travis' recent deal, a mixed-use building
- 00:06:08 Explaining Main Street Commission and how they fund improvements on properties
- 00:09:27 Specifics on the Interest Buy Out Program
- 00:13:47 Making a proposal to a board or committee to receive this type of funding
- 00:18:10 MCEDD - Mid–Columbia Economic Development District
- 00:19:25 Vertical Housing Tax Credit
- 00:20:35 When in the acquisition process you should be targeting these types of grants and programs
- 00:21:30 Don't underwrite the property assuming you get these funds
- 00:25:11 How Travis' building and business plan is doing today
Connect with Travis:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, David Toupin, I hope you enjoy it.
David's Background:
- Co founder of Obsidian Capital out of Austin, Texas.
- Started investing at 19 years old when he bought a 12 unit apartment complex.
- He has a background in corporate auditing, an investment banking, and today he has owned or sponsored over $50 million worth of real estate.
- Starting a RE tech company, Real Estate Labs, which Is a data driven underwriting model to shorten the time needed to underwrite real estate deals
In this episode we cover:
- 00:02:02 David's experience in underwriting and his spark to create a living underwriting model vs a static excel based model
- 00:05:57 What takes the most time in the underwriting process
- 00:14:20 Fundamentals to look for when underwriting a deal
- 00:16:19 When you should involve a professional opinion for due diligences and renovation expenses
- 00:17:47 Looking at comps and determining the finish of your upgrade
- 00:19:54 Rule of thumb on renovation ROI
- 00:20:35 David's take on pushing market rents and how you can protect yourself if you attempt it
Connect with David:
- Website
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Powell Chee, I hope you enjoy it.
Powell's Background:
- Started investing in 2015 when he purchased a single family property
- Now focuses on larger multifamily acquisitions, all out of state, totaling over 1000 units syndicated
- Runs a successful meetup platform, Multifamily Masters, which now has branches all across the country
In this episode we cover:
- 00:01:19 Powell's interest in RE and his incentive to invest out of state vs in CA
- 00:04:18 The meetups he went to originally and why they didn't meet his needs
- 00:05:27 Starting his own meetup to fix that problem - an out of state multifamily investing meetup
- 00:08:08 Growing this brand in the LA area and pivoting to cater to other states with new meetup branches not in the LA area
- 00:14:44 How Powell began to franchise the meetup brand while keeping it flexible for new chapters to have their own style
- 00:23:04 An example of a typical meetup structure to optimize networking and learning
- 00:27:09 The 2 most important things to do to start a meetup
- 00:32:26 How the MFM family has been able to leverage each other to close deals nationally
Connect with Powell:
- https://www.facebook.com/powellchee
- powell@multifamilymasters.com
- https://multifamilymasters.com/
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/multifamily
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Mo Karney, I hope you enjoy it.
Mo's Background:
- Mo was formally in the financial services/wealth management area before pivoting to real estate full time.
- He spent 5 years building his portfolio with small 2-4 unit deals and now has transitioned to 50+ unit deals.
- Has nearly 200 units and another 171 under contract.
- He focuses on making sure his projects have some form of value-add component along with cash flowing from day one
In this episode we cover:
- 76 unit deal deep dive on a site unseen property found over Loopnet
- How to get Loopnet to work for you instead of assuming it's where deals 'go to die'
- Pricing effects in Midwest markets vs 'Major Metros'
- How COVID-19 allowed him to save on his debt through local lending
- Managing due diligence and managing risk during COVID-19
- Leveraging relationships with Insurance Brokers to help find the right policy for your property
- How the property has fared under his acquisition during this turbulent economic period
Connect with Mo:
- Bigger Pockets
Connect with Dave:
- Schedule a call
- Website
Other ways to listen/watch:
- https://lnk.bio/lN3D
Follow or Subscribe:
- Facebook Group
- Youtube
If you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Joseph Bramante, I hope you enjoy it.
Joseph's Background:
- CEO of TriArc Equity which invests in heavy value add multifamily in the Houston area
- Started investing in real estate In 2011 after learning his coworkers owned properties
- Background in Civil Engineering
In this episode we cover:
- What type of properties his team targets
- His first deal and how the scope of the project changed drastically and what Joseph did to make it work
- A current deal of TriArc's which Included 37,000 budget of capital expenses per door
- Bringing in partners to help decide budgets (general contractors and property management)
- Determining finish levels for your units and going over marker comps to figure out what the market commands
- How curbside appeal can help attract new tenants
Connect with Joseph:
- https://www.triarcrep.com/
- info@triarcrep.com
- https://www.linkedin.com/in/josephbramante/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@lvare.com
Between the Sheets - A Making Money In Multifamily Mini-SeriesThis mini-series features host Dave Morgia and guest Rob Beardsley as they discuss the philosophies, theory, nuances, and application of underwriting multifamily real estate deals using a syndication model.
Over the course of the series Dave and Rob will cover all the considerations you should be making while underwriting a deal with the intent to challenge your thinking and take a deeper look at what makes a deal succeed or fail.
In this episode the topic of focus is IRR Hurdles and Promote Structures. Here's just some of things the Rob and Dave will be diving into:
- Defining compounding and cumulative returns on a pref
- Advantages of a Promote
- Advantages of a waterfall structure
- Why/how a passive investor should evaluate a deal from a sponsor's perspective to see where their incentive lies
- How vertical integration of a company could change the way they structure a deal (less focused on cashflow from CoC)
- Deep dive into the numbers, covering all of the above on Rob's underwriting model
Note: This series is very *visual. The first half of the show will be Dave and Rob discussing the theory behind the current topic. While the second half will entail diving into an underwriting spreadsheet and actually crunching the numbers. If you can, it is recommended you pause after the first half of the show and resume playing the second half on Youtube: https://youtu.be/KeMDGDnQy7A
Reach out to Dave: https://lvaRE.com/
Reach out to Rob: https://lonestarcapgroup.com/
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Eric Upchurch, I hope you enjoy it.
Eric's Background:
- Was a Special Operations Aviation crew member in the military and has his Masters in Aeronautical Science
- Co-founder of Active Duty Passive Income which helps active duty and veteran military members invest in real estate using the unique advantages they have through the military
- Owns/manages 500 doors between his own properties and syndicated properties
In this episode we cover:
- What qualifies you to use a VA loan
- The type of properties that you can buy using a VA loan
- Simple strategies to make this process work for you multiple times
- Finding the right agents that will help you find an investment vs a primary home
- Eric's history using VA loans to his advantage
Connect with Eric:
- https://www.activedutypassiveincome.com/
- eric@activedutypassiveincome.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Michael Mandel, I hope you enjoy it.
Michael’s Background:
- Former commercial broker in NYC
- Founder/CEO of Compstak
In this episode we cover:
- How Compstak was born
- What makes a good comp or a bad one
- How different sources from comps (excel, email, paper) can be an indicator of the value of your comp
- Narrowing down your criteria when searching to remove the noise
- Markets, submarkets, and how much they matter
Connect with Michael:
- https://compstak.com/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Jens Nielsen, I hope you enjoy it.
Jens' Background:
- Founder of Open Doors Capital
- General Partner on 650 syndicated doors
- Limited Partnered on 14 syndicated deals covering multifamily, mobile home parks, and self storage
In this episode we cover:
- Why Jens decided real estate was the path to financial freedom
- Jens' decision to do long distance multifamily investing
- How his background in IT has helped him structure his business
- How to build business structures around relationships, which is one of the hardest things to make repetitive and automatic
- Jens' take on the market today and how many deals he Is looking at to get a deal closed
- What Jens' workflow looks like to effectively get responses back to brokers or owners on deals
Connect with Jens:
- https://opendoorscapital.com/call/
- jens@opendoorscapital.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Ira Singer, I hope you enjoy it.
Ira's Background:
- 25+ years in construction
- Principal at Mosaic Construction where he leads business development, marketing strategy, and business relations
- offices are based out of Chicago, Illinois; Northbrook, Illinois and Milwaukee, Wisconsin
- Previous guest on the show, you can find him on Episode 14
In this episode we cover:
- How Ira and his team are handling current projects while also looking forward to potential projects
- How the current projects underway aren't affected from an economical standpoint
- Managing the work on site while also following health and safety guidelines to prevent spread of COVID-19
- Communication with the asset owner/manager and how that has/hasn't changed during these times
- Difference between the client facing reports vs the internal reports and why each needs to be tailored
- Why now is a great time to begin the pre construction work on an asset/project before you close
Connect with Ira:
- ira@mosaicconstruction.net
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
In an attempt to learn more about how successful business and real estate professionals think; I ask every guest of the show my 5 Key Questions. These questions are meant to give you, the listener, a glimpse at what makes a successful real estate professional tick on both a personal and business level. This round of 5 Key Questions is answered by yesterday's guest, Rob Beardsley, I hope you enjoy it.
Rob's Background:
- Principal at Lone Star Capital Group focusing on large multifamily acquisitions in Houston, TX
- Extensive real estate experience through his family's numerous real estate businesses including development, construction, sales, and investment
- Previous guest on Episode 3 and the Between the Sheets miniseries
In this episode we cover:
- Current market uncertainty - how the market is going through a 'wait and see' period and prices are not reflecting any anticipated down market shift
- Why it makes sense to wait on behalf of your investors, and back out of any deals that don't have the proper contingencies
- How the best thing to do right now is make/build on relationships to make sure the right partners are in place
- Looking for assumable loan deals and why it makes sense to buy these vs. non-assumable debt
- How to shore up operations to make sure you aren't overspending during a period where property income could be lower
- Working with tenants to find the best solution to keep them housed while still getting paid
- Focusing on 'economic resistant' tenants
- Navigating the COVID related relief programs and what can/can't apply to your expenses
Connect with Rob:
- https://lonestarcapgroup.com
- rob@lonestarcapgroup.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Matt’s Background:
- Seasoned RE investor, starting in single family over two decades ago
- Syndicated over 200 units in multifamily real estate
- Limited partner in syndicated deals totaling 2,000+ units
- Executive of a Fortune 100 Company
In this episode we cover:
- Matt’s start in real estate in single family, and how he discovered multifamily
- Why he chose masterminds, meetings, and passive investing to shorten the learning curve on multifamily investing
- Choosing a mastermind group or meetup that suits your needs - it is not a one size fits all scenario
- How to find partners in these settings
- Matt’s first syndicated deal as a general partner and big lessons learned
- How he adjusts his target market and properties based on his equity investors
Connect with Matt:
- matt@kartaequity.com
- https://kartaequity.com/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Braden's Background:
- Owns 12 units and a seasonal adventure business in Colorado, Wheelies and Waves
- Focuses on lifestyle design, travels seasonally between CO for the business and across the US when the business is seasonally closed
In this episode we cover:
- Braden's emphasis to create a lifestyle that he enjoys and to figure out a way to get to that lifestyle
- His first/most important talk with a local real estate expert and how that person helped him start on the right path
- How he realized after his first deal he was out of capital and needed to go find other people's money
- Braden's hard lesson learned about lining up equity to close on a deal, and how you should always have more capital available to you than you need
- How 'skin in the game' matters for a deal when you are bringing in an equity partner
- How Braden translated his Ideal lifestyle into real measured goals In real estate to fund that lifestyle
Connect with Braden:
- bburton@wheeliesandwaves.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Between the Sheets - A Making Money In Multifamily Mini-SeriesThis mini-series features host Dave Morgia and guest Rob Beardsley as they discuss the philosophies, theory, nuances, and application of underwriting multifamily real estate deals using a syndication model.
Over the course of the series Dave and Rob will cover all the considerations you should be making while underwriting a deal with the intent to challenge your thinking and take a deeper look at what makes a deal succeed or fail.
In this episode the topic of focus is Terminal Valuations. Here's just some of things the Rob and Dave will be diving into:
- Options to consider as far as an exit strategy
- Why you should have multiple exit strategies as a contingencies
- How to conservatively underwrite a deal's exit (i.e what cap rate you should forecast)
- How income and expenses need to be the most accurate
- Sensitivity analysis on cap rates and NOI and how it affects your exit pricing
Note: This series is very *visual. The first half of the show will be Dave and Rob discussing the theory behind the current topic. While the second half will entail diving into an underwriting spreadsheet and actually crunching the numbers. If you can, it is recommended you pause after the first half of the show and resume playing the second half on Youtube: https://youtu.be/KeMDGDnQy7A
Reach out to Dave: https://lvaRE.com/
Reach out to Rob: https://lonestarcapgroup.com/
Josh’s Background:
- Previous profession as a commercial airline pilot
- Owns 650+ units across Michigan and Ohio
- Owner of Epic Property Management which manages his portfolio and several hundred other doors
In this episode we cover:
- Josh’s start in RE in 2009
- How he decided to get into property management versus hiring it out
- The challenges of growing two business at the same time
- What tasks he decided to delegate and why it’s hard to let go of certain tasks
- The best way to communicate with prospective tenants to align expectations
- How to handle emergency calls and train your tenants to know what is and isn’t an emergency
Connect with Josh:
- https://epicpropertymanagement.com/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Mitch’s Background:
- Real estate investor for over 25 years
- Bought and sold over 2,000 houses in San Antonio, TX area
- Specializes in owner financing properties and selling to home buyers who are not able to get traditional lending
In this episode we cover:
- The term 'Owner Financed Value'
- The benefits of private money lending and how to make sure your lenders are taken care of
- How he brings together interested home buyers and interested private money lenders to be $0 down in a deal
- The benefits of this model versus lease to own or renting apartment
Connect with Mitch:
- https://1000houses.com/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Steeve's Background:
- Founder of Velocity Capital real estate syndication company
- 2,000 doors under management
- Previous experience in IT/Management
In this episode we cover:
- Steeve’s background in IT and how he got interested in real estate
- The RE business model he used before coaching, and the one he used after
- Lessons learned from passively investing in syndicated deals
- Growing a business while still working a full time job
- Blocking out time to be more effective
- Finding/attracting a partner by displaying complimentary skills
Connect with Steeve:
- https://velocitycap.com/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Joel's Background:
- Principal of JFH Capital Group
- Invests in commercial multifamily in Indiana and Southwest Michigan
- Finds ways to creatively finance properties to be low to no money down in deals
- Looking to scale up into larger properties (80+) for the benefits of scale
In this episode we cover:
- Joel's start with a 4 unit house hack
- His first commercial deal, a 16 unit which involved the seller carrying a second on the property.
- His strategy on this deal and why he chose a shorter amortization length
- The straightforward approach he took to get this deal closed with the seller and lender
- How local lending can really be advantageous to find something that fits your needs
- How that local lender saved the day as the 'backup' option Joel intended to use to finance
- How to properly assess rental comps and sales comps in a smaller market that has less data
Connect with Joel:
- https://www.jfhcapital.com/
- joel@jfhcapital.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Eric's Background:
- Investment Banker and Venture Capitalist
- Founder/CEO of Alto IRA
In this episode we cover:
- Eric's difficult experiences with solo/self directed investing early on In his career
- How he took those struggles to motivate him to launch Alto IRA
- Using alternative investments to buy real estate
- What types of real estate are available to pursue with a program like this
- The importance of charging expenses on a property to your IRA and not a personal account
- The limitations of acquiring a family members property
Connect with Eric:
- http://altoira.com/
- ericsatz@altoira.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Brian's Background:
- Managing Partner of Arc Equity Group
- 3 deals closed In 2019 across 176 units
- Commercial RE Broker, with $600MM transactions
In this episode we cover:
- Brian's path from insurance to brokerage to multifamily investing
- Why Brian chose to invest as a limited partner before diving into the sponsor side of a deal
- Some surprising things he learned from those first few passive deals
- How he has used his relationships from brokerage to help grow his RE business
- Maintaining relationships and why that matters over many other things In this business
- Structuring contact with investors and brokers to stay at front of mind when they think of getting involved In a deal
- Insights from his experience as a broker to help leverage a broker's motivations
Connect with Brian:
- bkoch@arcequitygroup.com
- https://arcqquitygroup.com/
- https://www.meetup.com/MultifamilyMasters-com-Chicago-IL/events/
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Garrett's Background:
- Former NFL pro for the New York Jets
- Paramedic in Sacramento, CA
- Real Estate Broker and Real Estate Investor with 43 doors owned between him and his partners
In this episode we cover:
- Garrett's background and what attracted him to real estate
- Determining if long distance investing makes sense for you
- An overview of his first deal and how he found his partner
- A deep dive of his latest deal and how he found THAT partner
- Some lessons on being taken seriously when trying to grow your business
- Why you should consider having a backup plan for debt you want to place on an acquisition
- Implementation of a laundry facility and how to measure it's viability in your market
- Treating real estate as a team sport and how that can launch you into the next level in this business
Connect with Garrett:
- gmcintyre71@gmail.com
Connect with Dave:
- https://www.lvare.com/
- dave.morgia@longviewacquisitions.com
Between the Sheets - A Making Money In Multifamily Mini-SeriesThis mini-series features host Dave Morgia and guest Rob Beardsley as they discuss the philosophies, theory, nuances, and application of underwriting multifamily real estate deals using a syndication model.
Over the course of the series Dave and Rob will cover all the considerations you should be making while underwriting a deal with the intent to challenge your thinking and take a deeper look at what makes a deal succeed or fail.
In this episode the topic of focus is General Partner Structures, namely; how and why a deal is structured to split profits between the operators and passive investors. In order to properly structure a deal you have to be very aware of the pros/cons/risk/reward of every aspect of the deal from every point of view.
Note: This series is very *visual. The first half of the show will be Dave and Rob discussing the theory behind the current topic. While the second half will entail diving into an underwriting spreadsheet and actually crunching the numbers. If you can, it is recommended you pause after the first half of the show and resume playing the second half on Youtube: https://youtu.be/7ieThDgWCOU
Reach out to Dave: https://lvaRE.com/
Reach out to Rob: https://lonestarcapgroup.com/
Grant’s Background:
Grant started his real estate career in 2004 with some single family housing. Didn't really go exactly as planned. He kind of bounced out of that after a little while, but then in 2014 he began investing more heavily along with his new wife, Monika. And pretty much in line with most real estate investors, the business was growing, but definitely not as fast as Grant and Monika and wanted to, so he kind of is speeding up that process. And they're looking to target higher unit size properties and commercial multi family, which before that was really more residential, multi family, and some smaller commercial. And then fast forward to last year; they just closed on a 20 unit complex. During this whole process, Grant had quit his job of 23 years and became a Director of Operations for Epic Property Management. Then decided to quit that job, and now he's a realtor in down river area in southeast Michigan.
In this episode we cover:
· Grant’s history in RE, covering property management, brokerage, and acquisition
· The lessons he learned from his first couple single family deals
· How you can be ‘the friendly landlord’ and still not be a pushover
· Shifting mentalities to propel success in this or any business
· Balancing a business partnership with a spouse
· The importance of letting everyone know what you’re looking for – you’ll never know where you’ll get help!
· Seller financing and the passive income benefits that the seller has been really enjoying
· All of the extra work that goes into cleaning up a mom and pop operation to run at a more professional level
Connect with Grant:
· https://warringtoncapital.com/
Connect with Dave:
· https://www.lvare.com/
· dave.morgia@longviewacquisitions.com
Darrin Gross
Making Money In Multifamily Show
Show Notes
Dave Morgia is joined by the insurance broker at Leonard Adams and real estate investor Darrin Gross to give us valuable information and practical advices on insurance market, variables, risk, coverage, submarket, business insurance companies, property types.
Darrin shares his knowledge and experience in the insurance area to help you become a better investor with his advice and recommendations to understand the operation of the insurance market, the variables that affect it, the risks and their importance in the real estate market.
The things you will learn in this episode:
- Insurance in real estate market
-
Variables that influence the insurance market
-
Risk vs Coverage
-
The importance of having a good policy
-
Property types
-
The importance of insurance in loans
Guest's Website: http://jdarringross.com/
Dave Morgia’s Website: http://longviewacquisitions.com/
Martin Perdomo
Making Money In Multifamily Show
Show Notes
Martin Perdomo, inspired instructor, speaker, philosopher, and entrepreneur visited the making money with the multifamily show to tell us about his strategic and motivational vision on the real estate business.
Dave Morgia interviews our guest who gives us a wide variety of advices to achieve success on real estate business. strategy, seven levels, goal setting, financially free and more.
The things you will learn in this episode :
-Real Estate strategy
- Seven Levels
-Scheduled for success
-
Goal setting workshop
-
Financially free
-Passive income
-
Inspirational speech
-
How to be successful in real estate
-
Find your Passion
-
Overcome obstacles
-
Visualization
-
Infinite cap rate
-
Value add properties
-
how to use loans to create your own money.
Guest’s Website: https://www.elitesalesconsultinggroup.com/martin-perdomo/
Dave Morgia’s Website: http://longviewacquisitions.com/
Dan Handford
Making Money In Multifamily Show
Show Notes
Dan Handford, managing partner of passiveinvesting.com, visit the making money in multifamily show to discuss the benefits offered by passive investments and their importance to achieve financial freedom. This episode deepens and explains in detail all the issues related to this type of investment.
Our guest of this episode tells us about all elements present in passive investments, like: Monthly distributions, investment relationship, preferred return, consistent cash flows, limited partners, monthly report.
The things you will learn in this episode:
-
Passive Investments
-
The importance of a mentor
-
Monthly distributions
-
investment relationship
-
Preferred return
-
Consistent Cash flows
-
Limited Partners
-
Monthly Report
-
Property’s Metrics
-
Permanent Communication
-
KPI’s
-
Financial Freedom
Guest’s Website: https://www.passiveinvesting.com/
Dave Morgia’s Website: http://longviewacquisitions.com/
Dave Morgia is joined by the investor, entrepreneur and author, Angelo Christian, CEO of Christian Financial to guide us in the world of financing and loans for real estate investments.
On this episode, you will receive advices and recommendations on loans, financing, 100 percent financing, interest rates, how to capitalize on financing, by the hand of one of the top producing loan originators in the country. Who has helped tens of thousands of people with his influential coaching.
The things you will learn in this episode :
-Real Estate funding
-Alternative Funding
-
Funding to invest
-
Limits of traditional funding
-
Proprietary loan program
-
100 percent financing
-
Bridge loan
-
Seller’s risk
-
Buyer’s Risk
-
Interest rates
-
Non-recourse loans
-
The sellers note
-
How to capitalize on financing
-
Hard money fund
-
Airbnb funding
-
Get funds for your investment
Guest’s Website: http://officialangelochristian.com
Dave Morgia’s Website: http://longviewacquisitions.com/
Dave Morgia is joined by the experienced real estate investor Darin Garman to give us important practical advice on the management of multifamily, acquisitions, relations with tenants, agreements, based on all his years of experience.
Get ready to learn everything you need from a real estate investor with more than 25 years of career and also know more about his exciting story, when he left his stable job as a security guard to follow his dreams and achieve success in the real estate world.
The things you will learn in this episode :
-
Multifamily Deals
-
How to Communicate with owners
-
Acquisitions
-
Relationships
-
the process to buy a property
-
How to keep residents
-
How to talk with residents
- What you have to do after buying your multifamily
-
Tenant - owner relationship
-
Rents
-
Be able to raise rents
-
investors
Guest's Website: https://daringarman.com/
Dave Morgia’s Website: http://longviewacquisitions.com/
Michael Ealy, CEO and founder of Nassau Investment visited the Making Money with the Multifamily show to give us all his knowledge in the real estate market and recommendations on deals, property management, increased profitability, and an example of success in the business of real estate.
Dave Morgia interviews our guest who gives us a wide variety of recommendations and advices to achieve success and increase the profitability of our properties, including return on investments, related profits, real estate deals, and property self-management.
The things you will learn in this episode:
-Expectations of investment returns.
-
Rates and related earnings
-
Return rates
-
Financing agreements and percentages
-
Direct performance
-All about real estate deals
-
Cost reduction to increase profitability
-
Vertical integration
-
Property self-management
-
Construction management
-
Increase in profitability and profits
-
The importance of accounting for property management
-
Relief agreement
-
Invest in your relationships
Guest’s Website: https://nassauinvest.com/
Dave Morgia’s Website: http://longviewacquisitions.com/
The investor and owner of Common Sense Capital Solutions, Kay Battle visits us to discuss about her experience in the multifamily market and guide us on the financing alternatives and opportunities present in this magnificent market.
The things you will learn in this episode:
-
Recognizing opportunity in the real estate market
-
Tips to deal with remodeling and contractors
-
Differences between residential and commercial properties
-
How to manage multifamily properties
-
Opportunities in the multifamily market
-
Value added opportunities
-
How to balance the administration and the business plan
-
Types of lending partners
-
Financing options
-
Financing to buy
-
Rehabilitation financing
-
How real estate loans work
-
The evaluation of a loan
-
Short term loan
-
Long term loan
-
Projection of the final price of a project
-
How a lender evaluates a project
-
What tools are used to evaluate a project
-
Types of credit
-
When to buy properties
Guest’s Linkedin: https://www.linkedin.com/in/kenitrabattle/
Guest’s Website: https://cscapitalsolutions.com/
Dave Morgia’s Website: http://longviewacquisitions.com/
Dave Morgia is joined by Ray Hespen, CEO and co-founder of Property Meld, to discuss the innovative property management and maintenance automation tool that his company brings to the market.
Our guest of this episode tells us about how his new tool facilitates the process of property management and revolutionary issues such as automatic service verification, maintenance automation, and big data applied to real estate that are part of a technological evolution in the market .
The things you will learn in this episode :
-
Maintenance automation
-
Maintenance as a process
-
Maintain your property from your phone
-
Automatic verification of service problems
-
Solve property maintenance issues in just minutes
-
Tenant communication preferences
-
Tenant's happiness
-
Lower rental turnover
-
Automation to increase rental renewal.
-
Factors that make a tenant happy
-
The importance of efficient maintenance
-
Optimal repair time
-
Demand for repair and maintenance
-
Big data applied to property maintenance
-
Retention of tenants
Guest’s Email: ray@propertymeld.com
Property Meld’s Email: sales@propertymeld.com
Dave Morgia’s Website: http://longviewacquisitions.com/
Today's guest on the Making Money in Multifamily Real Estate Show is Anthony Griffin
In this episode we cover:
-
Anthony’s former employment and the skills he learned there
-
The story of when he realized the skills he brought to that job made him underpaid
-
What type of assets that Anthony’s team targets
-
Anthony’s ‘Building from hell’
-
How to find reputable contract services and ensure you’re getting a capable persona to improve your property
Quotes from the episode:
-
What we've done primarily is we've stuck to the office market and as you can tell with the things going on with, I think it's WeWork with how they thought that cohabitation space was going to be real big and it didn't turn out like that. Office to me is at a point where you are starting to die off. People are working at home more. Companies are not investing as much in office space as they used to. They still make good money as far as the ones I've had, but when they do lose a tenant, it takes a really long time to replace a commercial office tenant. So what we are starting to do is we've sold a couple of properties off. I've still got my first one. I'll probably never sell it. We are starting to look for multifamily in our market now. The Jackson metro market is at best, we've got a lot of C and D properties. We don't have very many A properties unless you go out in our suburbs. So I'm starting to look at the Bs and Cs and C plus properties. I'm mainly looking at investing for cash flow
-
The way I learned how to do all of the things I had to deal with, with building houses, I went out to job sites. The best place to go find a really good contractor or a good sub, find a brand new neighborhood being built. 9 times out of 10 only decent contractors are going to be working for a general contractor. But now if you find a house in the middle of a bad neighborhood and somebody is working on it, they may not always be the best contractor. And you've got to ask around for that person. But if they are working on new construction, generally, they have already been vetted by somebody and you can see their work. Always check their work though.
Reach out to Anthony:
- htttp://griffinconstructionandroofing.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
- Web: http://longviewacquisitions.com
- Email: dave.morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Todd Dexheimer
In this episode we cover:
- A deep dive on a recent acquisition Todd has taken down, a distressed 120-unit with 70% occupancy
- How Todd secured seller financing on the deal, and why he even went for that route in the first place
- His conversation with the seller which helped him find out his motivation for selling was both a personal and business decision
- What type of tools you can offer in a seller financed deal that could help entice the seller or make him/her feel secure on their side of the deal
Quotes from the episode:
- I did a seller financing and the guy, he had a distressed property, but that wasn't his problem. His problem was what he wanted him to spend time with his grandkids, so we came up with a solution. He still liked the cash flow, but he wanted to spend time with his grandkids and his daughter. So that was an easy solution for him. What I did was I showed this guy what his, what the amortization table looked like, what his interest would be and how the setup was for the seller financing. That allowed him to really understand, okay, what does seller financing mean? Because I think a lot of people, that's the confusion, is that hey, let's do... Will you do seller financing? Don't ask them. First of all, don't ask them if they are doing seller financing. Tell them to do seller... Tell them they are doing seller financing and why. That's what you've got to do with when you are trying to solve somebody's problems. You have to communicate clearly with them.
- Look, I mean if you are setting up seller financing, set stuff up like that. Set things up that aren't going to hurt you, that you know that look, there is zero possibility, zero possibility that I'm not going to keep this thing for a year or whatever it is. It would be crazy for me to even think about refinancing or selling in less than a year. Well, then make it an interest only and guarantee that you are going to pay them a year's worth of interest. That makes them feel warm and fuzzy inside. But it does nothing negative to you.
Reach out to Todd:
- http://venturedproperties.com/
- http://coachwithdex.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
- Web: http://longviewacquisitions.com
- Email: morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Carlos Gutierrez
Carlos is a real estate investor and entrepreneur. He began his real estate career as an agent in the North Virginia area, grossing over $30 million in sales over three years. He then expanded his career with multiple simultaneous capital expenditure real estate rehab projects throughout the Northern Virginia and South Carolina areas. Since then, he has continued to grow accumulating multifamily and he has predominantly single handedly grown a real estate family portfolio with investments of over 450 multifamily units in the Southeastern area of Virginia
In this episode we cover:
- Carlos’ history in real estate, starting with an interest in flipping which led to brokerage and now multifamily investing
- His first deal, which was found by Carlos always looking for opportunities
- What it’s like to talk to a ‘Mom and Pop’ owner and expectations with those talks
- Local banks and how motivations that they have can extend beyond just numbers
- What happens once you actually close the deal!
Quotes from the episode:
- “We were able to actually get a good relationship with a local bank who kind of wanted to invest in this area because they were seeing the area growing and getting better. So they had... Not only were they able to lend on it, they wanted to see the area get better. I would say it was like a C, minus C area that was growing into a C plus area. So we were able to create a relationship with that bank. That bank, even though it wasn't the greatest terms, it worked for us at the time. They did, I think it was 5% interest, 20 year amortization, five-year call, I believe it was and no prepayment penalty.”
- “It's funny because this deal, you spend so much time and effort putting the deal together then that you kind of put, especially your first one, that you kind of put everything else behind you and you don't put like, what do you do after you buy the deal, finding the contractors, putting all the contracts together, getting all the leases, leasing all the units up, working with the rehab crew, working with the bank to get them to release the rehab money, all that stuff. In the beginning I knew kind of what I was getting into with flipping because that's kind of the same deal, but it's at such a bigger... It's such a bigger a construct that you kind of forget about it. And that's what I've kind of learned over the years of doing it. Like putting all the steps together so they kind of go flawlessly. With this first deal, I was working so hard to get the deal under contract and get it closed that I kind of put everything else to the side, not thinking ahead. “
Reach out to Carlos:
- Email: carlos@cg4rproperties.com
- Website: http://cg4rproperties.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
- Web: http://longviewacquisitions.com
- Email: morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Mark Roderick
Mark is one of the leading crowdfunding and FinTech lawyers in the United States He has in depth knowledge of capital raising and securities law. He represents many portals and other players in crowdfunding. He has a blog at Crowdfundingattorney.com. It provides readers a wealth of knowledge for legal and practical information. He also has a crowdfunding event across the country and represents industry participants all over, all around the world.
In this episode we cover:
• The history between crowdfunding and real estate capital raising • The process of verifying an accredited investor and common practices used in the industry • The liability of a sponsor once you verify an investor’s accreditation • Different sections of the tax code and how they can be used to fund a deal • What you should to as an investor to vet a sponsor in a fundraised deal Quotes from the episode:
• “Dave Morgia: So just to be clear, Mark, if you are taking that step, whether it be verified investor or some other company vetting the investor, if you are taking that step to validate their accredited status, as a sponsor or a general partner, how much responsibility do you have after that point as far as that goes? Mark Roderick: Zero is the practical. That's the thing. You are not required as the GP to use Verify Investor. You can do it yourself. You can ask the investor for his or her tax returns or for a letter, to get a letter from his or her accountant. Some people say, "Well, I'd rather do it myself". Terrible idea, because if you make a mistake and it screws up your whole deal, now everyone can sue you and say you weren't careful enough, your assistant lost the piece of paper. So you assume liability for making a mistake whereas if you get the third party to do it, you are, you [inaudible 12:59], you collect your $200, you have absolutely no liability. So it is a no brainer to use the third party. "A tax return is only a moment in time. When you look at a business, especially a small business, and how they operate the bank statement. Their weekly and monthly is indicative of how they operate the business.””
• “Well, that's a great question. If you are a non-accredited investor, and you were investing in a Regulation A deal, what you are investing in is not the project. You are investing in the sponsor. So you want to look at the sponsor's track record. So in a Regulation A offering, it's required to give all kinds of information about the sponsor's track record. You want to look at that and make sure it's a positive. And then you really want to Google the sponsor, because it's all about the sponsor. A first time sponsor that you don't know, I would not invest. They may be a terrific, but you are not going to be the sponsor's Guinea pig. So if you get a sponsor who has been successful and I know a bunch of them, that's what you are investing in. And understanding that real estate is unpredictable, that's the basis that I would invest in.” Rea
Today's guest on the Making Money in Multifamily Real Estate Show is Leslie Smith
Leslie Smith led the launch of Silver Hill Funding, LLC and oversees sales and operations for the entire small-balance commercial lending division. An experienced financial services professional and thought leader with more than 20 years in the industry, she has been instrumental in leading multiple initiatives that expanded companies into international markets, as well as developing systems and programs to drive operational productivity and efficiency.
In this episode we cover:
- The details of a small balance commercial loans
- How her business differs from a Fannie Mae or freddie mac loan debt partner
- What types of properties her loan team can give debt to
- What a local bank may or may not be able to provide for you on your first deal
- Non bank lenders
- Using this type of lending to cash out/refinance an already exiting property you own
Quotes from the episode:
- "Their requirements when you're talking about the occupancy, the experience you need, the type of property, the location of the property, and how they underwrite are the clear differences between them and us."
- "A tax return is only a moment in time. When you look at a business, especially a small business, and how they operate the bank statement. Their weekly and monthly is indicative of how they operate the business."
Reach out to Leslie:
- https://commercialdirect.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
- Web: http://longviewacquisitions.com
- Email: dave.morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Dave Foster
Dave has over 20 years of experience in all phases of real estate investing from large scale institutional and residential development to small boutique real estate investments such as historical and ecologically sensitive projects, fix-n-flips, rental portfolios, and vacation and resort property development and management. He specializes in discovering multiple ways for each investor to create portfolio enhancing strategies using the power of the 1031 exchange.
In this episode we cover:
- How Dave started in this area of real estate and how his first property motivated him to use this tool
- The concept of a 1031 exchange
- The role of a Qualified Intermediary and how they protect you by using the tax code and handling the transactions correctly
- The challenges of getting the transactions (sometimes multiple) done in the allotted 45 day time period and how to best prepare for it
- The theory behind transacting on both sides of a deal in the same cycle of a market
- Fractional interest and how it could help you ‘get out’ of the active investing game later in life
- Tenant in common structures
Quotes from the episode:
- “When you do it the right way, you don't have to pay tax on the gain. It gets deferred indefinitely and you don't have to recapture depreciation. That gets deferred indefinitely. So the idea is that's going to add 20% to 40% onto your profit every time and you are going to use that money to invest for yourself. So you are getting the benefit of the deferred taxes as long as it goes, which when you start looking at that compounds you returned that just fuels your investing career with octane to get you where you want to get to go. So that was where I started doing that over 20 years ago and haven't looked back since.”
- “So as an investor you have a team around you that is the people that are the people that get you where you need to get to, your realtor, your accountant, your attorney, your painter, your property manager, all of those folks that are indispensable. One additional piece is the Qualified Intermediary for the 1031 exchange. And all they do, just like all your painters going to do is paint. All the QI is going to do is manage the 1031 process. So they are both required by the IRS, but they are also your guide to keep you straight. You use the service of a third party and then there are some timing restrictions. You've only got 45 days to shop around. You only have 180 days to close on your new property. You can't touch the proceeds. They have to be held by the Qualified Intermediary. It has to be investment real estate, so real estate that you hold with the intent of using for productive service”
- “If it's a sellers’ market, people want to say, “But Dave, no one is going to let me buy a property and contingent on selling another property”. That may be true in a sellers’ market, but don't forget that when you are doing a 1031 exchange, you are not just buying that property. You are also selling another property. So why not sell your new, your old property using a contingency that allows you to locate your new property before you close on the sale. If it's a sellers’ market, those buyers are going to be much more willing to go along with you. So on either side, the buyer or the seller, you can use contingencies. You can also go into contract for your new property using it as long a due diligence period as possible or as long a finance contingency as possible. Those are fairly normal.”
Reach out to Dave:
- http://the1031investor.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, p
Today's guest on the Making Money in Multifamily Real Estate Show is Heidi Nelson
Heidi started in single family investing and has moved into multifamily investing. She currently owns a six unit and 43 unit and is in the process of acquiring more properties. She also buys local businesses, all of which are from purchases and seller financing. She is based in San Benito, California.
In this episode we cover:
- Heidi’s story of her first business purchase and where she is today in her RE acquisitions
- How to find and attend to a business/property owner’s interest to create a situation where they would be willing to part with their asset
- The way Heidi structures deals to be in for ZERO dollars her deals
- How she protects her partners due to the fact that they are the ones risking their capital
- Explanation of a deed of trust
Quotes from the episode:
- “I don't ever deal with vacant properties, non-performing properties. I like properties that are underperforming, but theat are a hundred percent occupied. We will do one turnover at a time, maybe two if they have back to back plumbing. But that way you don't have all of them vacate at once and you are sitting there, you know, feeding the lions every month”
- “We renegotiate each deal that comes up and we say, okay, what do you want? Okay, well what are you putting in? At the end of the day, I put in nothing and they put in everything, but they are happy because they are taking a first deed of trust. That's one way of doing it. Another way of doing it was negotiating seller financing that we were able to refinance out within about three months and give that seller his money back. So there are different ways that we have worked and made this partnership work between us. But it sure makes it a lot easier in my opinion, when I'm dealing with one other person. I'm making them safe. I'm creating security for them.”
Reach out to Heidi:
- Phone: 408-500-5000
- Email: yourrealtorheidi@gmail.com
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
- Web: http://longviewacquisitions.com
- Email: morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Spencer Hilligoss
Spencer is an active syndicator, real estate investor and executive leader for two real estate businesses. His own company, Madison Investing has co-sponsored deals totaling more than 3000 units, valued at over $328 million. He also is a technology leader with a 13 year track record of building high performance teams across five companies; three of them which are unicorns valued at more than 1 billion dollars
In this episode we cover:
- Spencer’s early investment/retirement plan, which was to max out his available retirement plans through work
- The assumptions you are making when you make this type of savings plan
- Company 401k matches and why they are the exception
- Once you decide to stop using a 401k as your retirement vehicle, how to continue to be tax advantaged through the process
- The difference between a self directed IRA (SDIRA) and a traditional or Roth IRA
- What it takes to change your mindset to get away from traditional retirement vehicles such as 401ks and IRAs
Quotes from the episode:
- There are a couple of key assumptions that you will even hear regularly socialized, but we don't pressure test them enough, Dave. We can talk more about this in a moment. That's my monologue here, which is take this one comment, which is your taxes will be lower when you retire, the implication that somehow our income, if we are putting our funds in there, will be taxed at a lower rate than currently. And so there are a couple of assumptions baked in there, right? You've got an assumption that you are going to be poor. It's a dramatic phrasing, but that is in fact what they are saying in essence, which is, you are going to be making a lower income; your tax rate will be lower. Therefore, it's a good idea to defer. If you are doing a traditional, you are not doing a Roth, that's the implication.
- I just think there is massive mindset switch. I mean at its core, we can talk about all this technical stuff all day, Dave, but in the end there was a very big kind of scary moment when I had to sit there from my own account and I had to say, am I going to make that change on this website down from whatever it was, 12%, 13% contribution taken out of my own paycheck every two weeks and I'm going to put that at zero. And you know, there is that moment of questioning like, am I making a terrible decision? I mean, it's a real question. You are sitting there hearing all this noise, all this education that we are fully indoctrinated into. We get bombarded that stuff.
Reach out to Spencer:
- Website: http://madisoninvesting.co
- Email: spencer@madisoninvesting.co
Today's guest on the Making Money in Multifamily Real Estate Show is Chris Prefontaine
Chris is a real estate investor with over 27 years experience in the field. He is the founder of the Smart Real Estate Coach and host of the Smart Real Estate Coach podcast. He lives in Newport, Rhode Island with his wife Kim and their family. Chris operates a family business with his son, Nick, his daughter Kayla, his son in law, Zach.
In this episode we cover:
- Chris’ business model of buying properties via lease purchase or owner financing
- Why his ideal transaction is buying a seller financed property that’s owned outright
- How he has expanded his team via coaching
- The three paydays he gets from the properties he buys
- How he qualifies a renter to make a win-win situation
- Where he finds these deals in the first place with sellers willing to do seller financing
Quotes from the episode:
- “The first one is, when I type a property, I'm going to put in a tenant buyer. This is not a renter who has some glorified ambition to buy a house. This is something that legitimately, like a self-employed person who wasn't reporting taxes or not enough income and taxes, so they might need some time, some seasoning, the bank calls it, or at someone that got a divorce or a death in the family, a legitimate credit ding, but they can afford the house in every other way except for credit. That's a prime candidate for us or someone again, that just needs time to get qualified, but they already make great money.”
- “We seek leads in the expired listings that didn't sell with realtors, the for sale by owner listings. They are out there on their own trying it and the for rent by owners, very, very easy prospect list. Those are the three places we live without doing mailings or anything. We have virtual assistants call them and then we call the cream of the crop. Now, what do we look for in there? I want to stress, Dave, these are not people that are all stressed out. Do we get some people stressed out? Literally go take my home. I can't afford... Yeah, but the free and clear for example, in other scenarios are just people looking for a different, better, more lucrative path. And so what do we look for motivation wise? Well, it's no different than like an auto mechanic or a doctor or an attorney. We solve problems and the problem can be just money. Hey, we want all the money, right? We provide solutions for people that are not there conventionally. “
Reach out to Chris:
- Website: http://smartrealestatecoach.com/
- Free book: http://freesrecbook.com/
Today's guest on the Making Money in Multifamily Real Estate Show is Jeremy Roll
As founder and president of Roll Investment Group, Jeremy manages over 1000 investors who seek passive manage cash flowing investments in real estate and businesses. Jeremy is also the cofounder of For Investors By Investors, FIBI, a non-profit organization that was launched in 2007 with the goal of facilitating, networking and learning among real estate investors and a strict no sales pitch environment
In this episode we cover:
- Jeremy’s background and why he got started in passive investing
- His approach to passive investing, which is not as common compared most passive investors
- Why cashflow is king and how it mitigates your risk better than anything else
- A couple examples of deals that he could never refuse
- Ways to vet a sponsor on a deal, and some green/red flags to look for
- How to look at a sponsor’s proforma and makes sense of the line items in it while keeping a conservative mindset
Quotes from the episode:
- "First of all, when I evaluate a deal as a limited partner or a passive investor, I consider the sponsor to be the most important consideration. I consider the property to be the second most important consideration. Of course, the property is extremely important, but when I'm making a bet on somebody, I'm essentially giving up control, because I'm a very small piece of a bigger deal. I have a very small vote and my vote is going to count, but not very much. So I need to try to figure out who am I making a bet on to actually execute on this business plan.”
- "One quick thing you can do is if you are not used to doing the line by line on all the expenses, for example you can take a look at the expense ratio, which can tell you a lot and it's very important. The expense ratio will vary depending on the age of the building, what exactly is being paid for in terms of utilities by the owners, where the building is located due to climate, such as cold climate versus warm and a lot of other factors. Even some locations have much higher utility costs than others just based on where you are in the country and the cost associated with that.”
Reach out to Jeremy:
- jroll@rollinvestments.com
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Nathan Tabor.
Nathan is a real estate expert who has the following accomplishments:
- 26 properties flipped in nine years
- Grossed over 52 million in sales
- Raised over a million dollars from investors and has consulted on deals worth over 200 million
In this episode we cover:
-
A couple of sticky situations Nathan has been in
-
How to avoid those situations and some other common pitfalls seen when performing due diligence on a property
-
How he audits rent roll vs collected rent each month
-
How to correctly underwrite late fee income on a stabilized property
Quotes from the episode:
-
"I'm not just looking at rent rolls. I'm not looking at leases. I want to see bank statements. I don't care if it's residential or commercial. Show me, if you say, I'm collecting $500 a month, or I'm collecting $5000 a month, great, where are you putting that money? And if the bank statement shows they deposit $300 a month, where is the other $200? Oh well, its cash and I just put it in my pocket. Well, I've learned, having done the deals I've done and consulted on the deals, you can't trust that. You've got to assume that that money is not coming in, because… I learned this the hard way. Just because a rent roll says that Dave is paying $500 a month because that's what his lease says he should be paying does not mean that Dave is paying $500 a month. It means that his lease says he should be paying that much. And I learned that the immensely hard way."
-
"Another number on income that I don't count and a lot of people do is late fees. They will say, “Oh, well they are collecting $6000 a year in late fees”. Well, late fees means that a property is not stable because if someone is paying late, that means you are chasing your money. So if you stabilize the property and put it in a good management team, what's going to go away? There are late fees, but if you've used $6000 at a 10% cap rate, that's a $60000 value on the property that if you do your job right is going to go away. So why would you give credit upfront to a seller for something that eventually is not, shouldn't be there if you run their property correctly."
Reach out to Nathan:
http://nathantabor.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Jason Yarusi.
Jason is an active real estate syndicator and real estate investor. Jason founded Yarusi Holdings, a multifamily investment firm with over 450 units under management in 2016. The firm repositions properties through operational efficiencies, moderate to extensive renovations and complete rebranding. Jason also hosts the Real Estate Foundation, a podcast serving to help real estate investors take massive action through learning from the steps and miss-steps that many industry pros have taken along the way. He is also the founder of the New Jersey Multifamily Foundation Club with over 2000 members that focuses on real estate syndication and multifamily investing.
In this episode we cover:
- Jason’s target market and why he and his wife Pili have chosen to expand their market
- His latest deal, a 32 unit, which is smaller than their typical deal but it was too good to pass up
- How to set up property management and construction partners up for success with the right conversations
- How to structure the conversations to keep everyone’s time well spent
- Pivoting, Green programs offered by institutional lenders and why they may benefit your property’s business plan
Quotes from the episode:
- “We are very specific with what we are looking for. We also now give them a good guidance on what we believe is going to our business plan. But we also want to align with them to make sure that I'm saying here is our business plan. Do you feel you can implement this? Do you feel this is going to work in this market? Do you feel this is going to work with these tenant bases? If you do, great. How else can we add to this to make it more of a fluent process? Or if it doesn't work, why not? What pivot should we make in our business plan to make sure this aligns with what we are looking to do to accomplish this to meet the return for our investors?”
- “Any of your large format, so a Fannie or Freddie, will have some kind of loan improvement where you can get some kind of discount on your interest rate because they are looking for the environment to be better and it's helping the performance of your property over time and ultimately improving the value. So for you to do these items that are going to help for the durability of the product and also help you cut down on your costs from any of utility costs, generally it's in their interest.”
Reach out to Jason:
- http://yarusiholdings.com/
- Instagram: @jasonyarusi
Today's guest on the Making Money in Multifamily Real Estate Show is Ira Singer.
Ira leads new business development, estimating construction production, project management, and the management of trade partner and vendor relationships for Mosaic Construction. As a relationship builder with over 20 years of experience in construction, Ira develops new opportunities through his various roles in the company and community.
In this episode we cover:
- Ira’s background in construction and where he is today
- The concept of design builds
- Exterior renovations to consider when first approaching a property
- Interior packages that tenants appreciate
- Site amenities that can really improve community feel
Quotes from the episode:
- “We are big believers in making sure that the exterior of the building is really weatherproof and has an aesthetic appeal. That is where the greatest amount of initial visibility comes for a potential renter. There are tremendous products on the exterior, regardless of the region of the country that provide maintenance free, a long-term warranty and aesthetic enhancements. We are looking at what I started my business in, in the windows, the doors, the siding, the stone, the gutters for water management, roofing, all of these different product classes have different levels of enhancement, different levels of cost, and ultimately provide a facelift to an asset that gets people interested in coming to the building.”
- “But if you are walking into a community space, we have found that in the entry way, having a buzzer system, an intercom system that allows you to enter via the use of a smartphone. Using technology right out of the gate is really smart. It speaks to an upgrade in the space right off the bat. Long-term finishes that have a rich color, so flooring because… Again, climate depends. But if you are walking in to a cold space, based on the season, you want to have a walk off mat, so you are not tracking any type of snow, debris in. Clean surfaces for flooring, nice railing details if there is a stairway versus a new elevator cab if there is elevator to the building. We have found that a wall accent in the space of the lobby when you walk in is a nice eye-catcher. So those are some of the common area initial right when you come in the front door upgrades that really make sense and give the potential renter a sense that the space has been improved.”
Reach out to Ira:
- Email: ira@mosaicconstruction.net
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Aaron Chapman.
Aaron’s primary business is loan origination; he works with people ranging from those purchasing their first home, building their dream home or investing in multiple properties for long-term cash flow. He is presently ranked number 14 in an industry of over 300000 licensed loan originators for transactions closed annually. With a very positive and focused mentality Aaron has exploded his business over the past few years. Dave brought Aaron on to discuss how to shape your mentality to treat your operations as a business, no matter how small you may be starting out.
In this episode we cover:
- How Aaron realized he was limiting himself and what changed
- Making your mindset acknowledge that every transaction is an investment
- Why you have to understand the concept of compound interest
- How he individualizes the attention given to each new client to ensure their business plan will fit them
- Why and how he becomes involved past the loan origination phase with said client
- How he is teaching his kids how to invest and make good business decisions
Quotes from the episode:
- “The power of compound interest that is then coupled with the power of inflation, you actually nullify one with the other. The real estate investor is the sole person on the planet that I have found that takes advantage of both and can use them both to their advantage. Nobody else gets to do that.”
- “It's all about the team. You get the right team and then you get the right asset that has some sort of desire to be rented and then that asset starts to pay for itself. That's the main goal, getting something that pays for itself.”
Reach out to Aaron:
- http://aaronbchapman.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Today's guest on the Making Money in Multifamily Real Estate Show is Greg Dickerson.
Greg is a hyper talented guy with over 20 years in the business. He has bought, developed and sold over $250 million dollars in real estate, built and renovated hundreds of custom homes and commercial buildings and started 12 different companies from the ground up. Greg is an expert on the topics of entrepreneurship, real estate development and all aspects of real estate investing.
In this episode Dave brought Greg on to discuss how he leverages good leadership skills and intentional behavior to grow his business to where it is today.
In this episode we cover:
- Greg's first business; a handyman service which he slowly hired out work for until he put himself in a position to manage
- Why developing your self and other skills and education is critical to succeeding in any business
- How Greg is able to find motivated team members
- What he does to make them thrive in his environment
- Some hiccups with taking talent from the competition and why it's ok to do so
- Greg's book recommendations on Management
- How to identify and leverage team members strengths
- How he approaches feedback and why the approach matters
Quotes from the episode:
- “A lot of people have the, "Don't work in your business, work on your business". Well my philosophy has always been you work on the people in your business so that they work on the business for you.”
- “If you've got a Tom Brady, you don't put him at center, you don't put him at wide receiver. You put him at quarterback. You don't worry about filling in the weak spots. You take his strengths and you run because you are only going to have Tom Brady so long.”
Reach out to Greg:
- http://gregdickerson.com/
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Jason is a real estate investor from Erie, Pennsylvania who owns and operates over 900 rental units with his wife, Nadia. They have built their portfolio over the past several years owning everything from single family homes to large 80 plus unit apartment communities. He started his business while maintaining a day job in medical device sales, which he was able to retire from in 2012. His most recent syndication was a 205 unit deal in quarter four of 2018. In this episode Jason and I talk about:
- Finding individual with a drive to learn in this business, even if that means they will eventually move on to start their own.
- Grooming and training these individuals to become a tier above an average employee; one that can make decisions without your guidance because they know the business
- Examples of Jason's own employees and an explanation as to why you need to know your employee's motivations.
How to reach Jason:
Email: jasonperoATyahoo.com
Website: http://limitless-estates.com
Phone: 814-397-8030
Facebook: https://www.facebook.com/jason.pero.7
LinkedIn: https://www.linkedin.com/in/jason-pero-70aa9a6/
_______________________________________________________
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
Kyle Mitchell and his wife Lalita Patipaksiri found themselves taking 7 hour road trips in order to make an impact on their market in Phoenix and Tucson, AZ. Their commitment to this arduous process was rewarded when after 6 months of making great connections within their market, they closed on a 42 unit property in a great area of Tucson. In this episode Kyle and I talk about:
- His process and commitment to driving every month to get acquainted in his market and the people in it
- Why the quality of the Regional manager for the Property Management company you select is the most important factor
- Keeping on top of property work orders and deficiencies in order to keep tenant living situation the highest priority
- Why solidifying your partner relationships and operating agreement before signing on a loan is critical to the bank
How to reach Kyle:
Email: kmitchellATlimitless-estates.com
Website: http://limitless-estates.com
Phone: 562-833-5010
Podcast: https://podcasts.apple.com/us/podcast/passive-income-through-multifamily-real-estate/id1451849159
Meetup:https://www.meetup.com/MultiFamilyMasters/
_______________________________________________________
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
In this episode Mo and I discuss his current real estate ventures, which involves portfolio purchases of small multiplex properties: duplexes, triplexes, quadplexes, and sometimes larger. We get into talking about:
- How he goes about sourcing deals of these types,
- Why hard money lending is the best financing option to close these deals
- His philosophies on maintaining the properties and business by leveraging property management relationships.
How to reach Mo:
Email moATgreyhillcapitalholdings.com
Website: http://greyhillcapitalholdings.com
Phone: 347-944-2121
_______________________________________________________
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
In this episode Ben Leybovich and I discuss how to breakdown the different aspects of rental income. We cover what you should do to make sure you are predicting your property's income as accurately as possible and why it's so important to do so.
How to Reach Ben:
Website: http://www.justaskbenwhy.com/
Email: ben@justaskbenwhy.com
Bigger Pockets:
https://www.biggerpockets.com/users/justaskbenwhy
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
Brian Burke is President / CEO of Praxis Capital Inc, a vertically integrated real estate private equity investment firm. Praxis operates on multiple platforms, currently managing active syndications for the acquisition of multifamily, single family, and opportunistic residential assets in US growth markets.
Brian has acquired over $400 million in real estate over a 30-year real estate investment career including over 2,500 multifamily units and more than 700 single-family homes, with the assistance of proprietary software that he wrote himself. Brian has subdivided land, built homes and constructed self-storage, but really prefers to reposition existing properties.
As a recognized expert Brian has been a frequent speaker at real estate forums and conferences; including the SF Bay Summit, Opal Family Office & Private Wealth Management Forum, the Keiretsu Real Estate Forum and the Institute for Private Investors. He has also served as co-host and real estate expert on the Fox News Radio show, "The Best of Investing".
How to Reach Brian:
Website: http://praxcap.com/
Bigger Pockets:
https://www.biggerpockets.com/users/cirrusav8or
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
Lennon is the founder/principal at BLD Capital Group, a boutique investment firm focused exclusively in multifamily real estate.
Alongside his investment partners and investors, he has been involved in the acquisition of over 1,500 units of multifamily real estate with an approximate market value of $150 million.
A full-time investor based in Miami, FL, Lennon is also the founder of The Multifamily Investing Club, a knowledge-sharing and networking platform for local multifamily real estate investors.
He is a Co-host of Se Habla Real Estate, the first ever real estate investing podcast in Spanish and Author of the Passive Multifamily Real Estate Investing book.
Lennon was born and raised in Venezuela and moved to the US in 2010.
How to reach Lennon:
Website: http://bldcapitalgroup.com/join
Instagram: https://www.instagram.com/themultifamilyinvestor/
Email: contact@bldcapitalgroup.com
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
Whitney Sewell, founder of Life Bridge Capital LLC works with accredited investors to improve their investment returns via the exceptional opportunities that multifamily syndication offers. He and his wife Chelsea have two adopted sons with their third adopted child on the way. Investors receive exceptional returns financially while impacting the lives of orphans and families.We have now invested in over 900 doors valued over $120 million. Whitney hosts The Real Estate Syndication Show, a daily podcast, interviewing experts providing cutting-edge tools and strategies of the syndication business. Their motto is: making a difference one investor, one child, at a time.
How to reach Whitney:
Website: http://lifebridgecapital.com
Email: whitney@lifebridgecapital.com
Phone: 540-585-4338
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
Kenny has been investing in multi-family real estate since 2010. Soon after, he co-founded Wolfe Investments (originally Wolfe RE Mgmt) in 2012. He has been involved in over $130MM+ worth of commercial real estate transactions throughout Texas, Colorado, Louisiana, Oklahoma, and Ohio. Kenny is passionate about ensuring the success of every investment for his loyal investors. Prior to co-founding Wolfe Investments, he served as CFO for Twin Cities Development, LP. Kenny has a BBA from Baylor University and an MBA from the University of Texas at Arlington. When he's not scouting for new deals, he enjoys discovering new vegan restaurants, rooting on the Broncos, and spending time with his wife kids.
How to reach Kenny:
http://wolfe-investments.com/
https://www.facebook.com/wolfeinvestmentsllc/
https://amazon.com/Investing-Dream-Acquire-Multi-Family-Financial-ebook/dp/B07BTKDD9Q?sa-no-redirect=1
Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
With a background in business and computer science from Carnegie Mellon University, Rob leads the underwriting and structuring function for Lone Star Capital Group. Prior to co-founding Lone Star, Rob had extensive real estate experience through his family's numerous real estate businesses including development, construction, sales, and investment. Additionally, Rob enjoyed a data analytics stint with a global retail company in NYC with annual sales over $50,000,000 where he implemented database and reporting solutions. Rob also actively publishes articles and whitepapers about real estate capital markets, multifamily strategy and deal structuring.
How to reach Rob:
http://lonestarcapgroup.com
rob@lonestarcapgroup.com
Thank you for taking the time to listen. If there is something I can do to help you or your business or would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: hhttps://www.instagram.com/longview_acquisitions/
Forrest is one of the principles of our syndication company Longview Acquisitions. Forrest just closed on his first Real Estate deal, a 6-unit in Collinsville, Illinois. He goes into detail how he found and executed the deal, and explains what you can to to keep a positive mentality that will keep you laser focused in your business.
How to reach Forrest Knight:
Email: forrest.knight@longviewacquisitions.com
Instagram: https://www.instagram.com/forrestknightjr/
Thank you for taking the time to listen. If there is something I can do to help you or your business or would like to introduce yourself, please get in touch:
Web: http://longviewacquisitions.com
Email: dave.morgia@longviewacquisitions.com
Instagram: https://www.instagram.com/longview_acquisitions/
Thank you for taking the time to listen. If there is something I can do to help you or your business or would like to introduce yourself, please get in touch at http://longviewacquisitions.com or email me at dave.morgia@longviewacquisitions.com