All Forum Posts by: Chris Jackson

@Mizy Kalmanson - follow me online. Its been 3 years since this post. Personal growth is fun to watch when one is willing to share. 300 units processed , 600 units in contract. raised over 15M. Team is building, I'm in the lane. Worked 20 years to get here. it's all possible. 

@Yosef Lee  is a great person and deserves all the momentum he is receiving and creating.

A confused mind says no. Synthesis takes away that confusion. 

Sitting across a partner or an investor and knowing how to structure a deal gives you confidence.

Does the deal work with a certain structure? 
Is it too lean?
What does the deal look like if there is major rehab but the bank or bridge loan will finance all the rehab, does the deal still work?

Synthesis multifamily analyzer is one of a kind allowing you to toggle between different types of debt and different partnership structures.

Synthesis also allows you to underwrite faster to know if you are wasting time on a deal.

A confused mind says no, get clarity with Synthesis. 

www.TheMultifamilyAnalyzer.com

@Hadar Orkibi - thanks buddy 

@John Cohen and @Chris Grenzig of Toro
@Omar Khan of Boardwalk
Chris Urso of URS Capital 
Jake and @Gino Barbaro of Rand
Bill Ham
Kyle Jones of TruPoint
Jason Yarusi
Collin Schwartz

@Al-Qumar Atkins - I let my introversion and shyness stop me from real estate investing for 10 years. At the 10 year mark and at the time a full time computer programmer, I decided to change my thinking. 

Since then over the last 10 year from a start at one REI meeting I began my journey and today have raised over 12M, over 500 unit transactions with 7 full cycle multifamily projects under my belt. The largest being over 170 units as the main sponsor, found the deal, raised the money, run the deal and signed on the loan.

Networking is critical to the REI profession. I have found that my introversion is actually a strength when I learned to not fight against it. I learned to use it.

People now think I am BSing them when I say I am an introvert but its the truth. My super power now is very strong relationship building skills. 

My best advice to begin is, do not try to be an extrovert right away and do not listen to extroverts give advice, Im sorry to say there is just not the same empathy level. I talk to extroverts and they say get over introversion by cold calling. Come on man that a sure fire way to feel bad about about yourself in the beginning and end the journey. I can cold call now but I never would have been able to at the beginning of my journey.

Build brick by brick the comfort with networking. Be gentle with yourself. It will take time to build the momentum. Do not expect certain extrovert results quickly. I never gave up and continued my journey.

This is the greatest timing I could ever think of to begin the journey. So that when you have put in the work on learning your chosen real estate investing asset class coupled with your personal growth journey you will be ready to take advantage and not miss a 10 year window.

Good luck fellow introvert. See you on the other side. :)

@Rohan Anthony Soltau - it starts with step 1. Go to a meetup or REIA where there are many people interested in the same thing as you. I want you to go up and introduce yourself to one person. Thats all. Ask them what area of real estate they are focused on, ask about when they started, what they do for a living now, how long they have interested in real estate. It creates a conversation. Thats it. They will ask you questions and dont expect to be jonny best answered ever. Just complete step 1. then thats it.

Dont expect to be joe handshake to everyone now.   

Allow yourself the step 1 victory. Then the next time there is a meeting go do it again. Maybe talk to 2 people. then do it again.

Its a slow process. Allow yourself to have the process and allow yourself to feel like an idiot

@Kyle Trotman - you are overthinking it. Don't give up so quickly. I sucked on the phone. What you are doing is Tommy-Boying the situation. You are acting like every lead is a pretty little pet. Then you crush the little pet by trying to close every one.

Have a cadence of important bullet points to get to. Ask questions. At first dont try to be johnny closer. Just talk to people and developer your own style. You probably have an inner closer waiting to come out. Mess up 50 calls before you hand off the phone to someone else. you need time to get better

@Kameron Holloway - as a reformed introvert, here are some questions you can ask. 

"How can I help you?"

"In what areas are you looking for help?  In finding deals or finding money?"

"how did you get started?"

"how long have you been investing?"

"what areas of real estate are you focusing?"

@Joshua Williams - reformed introvert here.

So 64 units is a different game than even a 5 units. Yes its commercial but when you add in the fact that you don't have the equity to take it down on your own you are getting into partnership,JV, syndication world.

You also mentioned you don't know the next steps on how to finance it and raise the equity. 

I would say your next step is to educate yourself. I know that's the go in 1 ear and out the other answer. However in order to raise money, finance it and ultimately run it you do need to know if you have a good deal on your hands. I know it can be exciting to actually get a seller on the phone and have them want to sell an off market property to you. But you do need to understand the mechanics of this 64 unit machine start to finish.

You have the equity structure set up (down payment, initial capX needs, reserves) partnership and returns structure set up with within your OA, your operating agreement with your investors. That does mean you need to raise money and in order to raise money you need to know how you are going to set this up. Also how many investors will you need? Do you have access to a capital network that can be one funder or many?

Then you have the debt financing, you need a loan. is this a bridge loan or a perm loan. Both of these debt arms will ask you where your equity is coming from and thus you go back to step 1 the equity.

Then you pull that off and you had to know this was a good deal from the numbers on a 64 unit deal and the capital needs in order to pull off your business plan. Which take you to the step before step 1 which is, is this actually a good deal and are you able to understand that it actually is a good deal.

My parting advice first is Kudos!, you are an introvert who contacted an owner and got them to give you a price. You have conquered what people that are educated cant pull off or are not willing to pull off which is to a seller. Sounds like you are less of an introvert or an inner extrovert fighting to come out. 

But now you need to make sure you can pull all this together before you enter into what I call the tommy boy stage. Dont rush into this on excitement only to tommy boy it. Search pretty little pet tommy boy on youtube.   

Now there are good education programs and I am not going to point you to one so you know my post is authentic. Go get educated and then take down 64 unit deals. Or find someone that knows how to figure out if the deal is a good one and you get put into the deal and get a small finders fee and get to say you found a 64 unit.

Good luck