All Forum Posts by: Jeff Greenberg

I am not sure what the current price is. We meet three of 4 times per year, plus we are adding some zoom meetings in between. The combined group controls over 3.5 Billion in CRE.

PM me and I can give you contact info

I am in a Mastermind with Rod Khleif and many awesome investors such as Tim.

Hey @Ali Boone haven’t seen you in a while.  Thanks for the mention. @Brian Ung come join us next Sat.  @Will Barnard haven’t seen you in a while.  I hope all is going well.

Contrary to the cutthroat relationships in the stock market, most CRE investors that I know have an abundance mentality. Most, as you can see by the participation in this forum, and perfectly willing to share.

There is an aspect of CRE that is unfair that you can very much take advantage of. That is insider trading. You can't do that in the stock market, but it is highly encouraged in the CRE space. It is all about networking, not just what you know, but who you know. Use that to your advantage and expand your network.

@Andre Jernigan When I started out the only one that was really out there was the Real Estate Radio Guys.  I know that I am looking 15 years back

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $10,300,000
Cash invested: $3,000,000

225 B- C+ Property

What made you interested in investing in this type of deal?

It was a great Value Add opportunity

How did you find this deal and how did you negotiate it?

One of my team members received it from a broker

How did you finance this deal?

A bridge lender

How did you add value to the deal?

We used our standard underwriting tools

What was the outcome?

We still have the property. We are following the plan to upgrade and improve it.

Lessons learned? Challenges?

Always go the extra mile on your due diligence. Every penny you spend on DD could save you real dollars in the end.

Typically in CRE we work with a mortgage broker. Now that may not be true in the smaller multis. A relationship with a local lender in a small bank might be able to help push things along. My first deal was with a two-branch bank that wanted the seller/Builder out and us in the deal. It was a great help that they liked us. With the larger deals, it is more the relationship with the mortgage broker that understands what you have to offer. With that said, the deal and your strength is important. The greatest part about CRE is the combined strength of your team. If you need to boost the overall networth, liquidity or experience, you add team members to qualify. Sure you will have to give up something. As they say, a small piece of the pie is better than all of nothing.

@Andre Jernigan The dilemma that you have now is the reverse of what I had in the beginning.  That being so many podcasts to choose from.  Starting with Joe's and his syndication training podcasts you are on your way.  Depending on what aspects of the business you choose.  Jake and Gino, Michael Blank, Kevin Bupp, Whitney Sewell, Rod Khleif all have great podcasts.  There are so many, you need to see who really speaks to you.

Tim is an awesome guy and anyone with the opportunity to mentor with him should jump at the chance.  I am in a mastermind with him and his energy and integrity seem endless.