Broker Stood Us Up+ A Day of Shopping for Apartments in Charlotte

[Dan Handford]

Spent an entire day in Charlotte this past Monday looking for apartment complexes to acquire (150-300 units). Brandon Abbott and I toured/shopped 11 true off-market, non-brokered properties in the morning. Then we met with 7 multifamily brokers (we were suppose to meet with 8, but 1 stood us up) in the afternoon.

Of the 11 properties we shopped, we found 2 possibilities that fit our investment criteria. We are actively talking with these owners and will hopefully have more news in the next couple of weeks.

To round out the day, we hosted our 3rd monthly Real Estate Investors meetup from 6:30pm to 8:30pm.

On the ride home, we analyzed and underwrote a deal that came to us that morning while driving around. That deal we are bullishly looking at and will likely win the contract. NOTE: special thanks to our driver, Jason Earwood, which allowed us to be able to move around so quickly and always had a cool suburban to come back too.

Hoping to have another $20mil closed by the end of the year.

Stay tuned!

[Omar Khan]

@Dan Handford Good stuff. Looking forward to hearing more. 

@Hadar Orkibi Do you think it is the best and highest use of your time? We rely on brokers but always happy to learn of more efficient ways for deal sourcing (target: 100+ units).

Looking forward to seeing you in October.