Getting your second investment

[Jerell Edmonds]

Hey BP, I'm just curious how did you get your second investment property did you partner up ? Did you save up enough to put a down payment ? What strategies did you use or what type of creative finance ? Or better yet If you could start all over again how would you do it the right way ?

[Gino Barbaro]

@Jerell Edmonds

Great question. On our second deal, we brought on another partner, to help with down payment and balance sheet.

Thank God, because when we signed our next deal six months later, our partner was instrumental in helping us with the loan. We are still partners to this day, with over 1,700 units.

We've been able to use refinance proceeds, seller financing, syndication, and selling assets to scale. You have to sometimes swallow your ego, and give up a bit more in the beginning to be able to scale. 

Multifamily is a team sport, and partners and team members will help you scale

Hope that helps

Gino