All Forum Posts by: Jeffrey Donis

Hey Luke, as already mentioned there are several courses/mentorships that you can choose from. Each vary in price and some will be a better fit depending on what your goals are (some focus on smaller assets while others tend to focus on larger deals). I am apart of a group called Thinkmultifamily and have enjoyed my experience. If there is anything I can do to help when it comes to explaining how I made my decision and narrowed down my search, feel free to reach out! Best of luck with everything. 

Hey @Juwan Parker. 

There are two ways you can find multifamily deals. One way is to build relationships with brokers. You can try cold calling them, and give them your investment criteria. They may not trust you at first, but if you call them consistently, and give them feedback on any deal they send you, they'll warm up to you overtime. Make sure to let them know why a deal doesn't work for you, if it doesn't. If you get the chance, tour a property with a broker. Meeting them in person is a great way to build rapport with them. 

A great book about broker relations is "Multifamily Investors Who Dominate" by Beau Beery. 

Another way to find deals is to network with other multifamily investors and co-sponsor on their deals. You can meet investors at multifamily conferences, like the Fire Summit with Think Multifamily. Many times, lead sponsors are willing to partner with other investors. You just have to build the network and bring them value. 

Let me know if you have any questions at all. Good luck!

-Jeff

Hey @Cameron McNulty. I hope you're doing well, man.

When I first started investing in real estate, I had this misconception of real estate as what you see on HGTV (flipping) or being a realtor. But, investing in real estate has so many different paths, there's something for everyone.

I'd start by asking yourself what your interests are. If you like numbers, consider working on a team as an acquisitions person. You can underwrite deals.

Or, if you like working with people, you could be a capital raiser for multifamily syndications. I'm in the multifamily syndication space, so I may be a little biased, but there truly is something for everyone. 

If you're interested in multifamily syndication, which is what I do, consider attending the Fire Summit in Texas. It's this Thursday. You'll meet other syndicators and get a great idea of the different options you have in multifamily real estate. 

Learn more here: https://thinkmultifamily.com/f...

Let me know if you have any questions about multifamily, or real estate, at all. I'm happy to help!

Best,

-Jeff

@Morgan Warfield. Hey! Welcome to Biggerpockets!

I think it's awesome that you're eager to start investing at such a young age. I'm 20 and shared a similar reason for getting into real estate at an early age. 

Some tips from one young investor to another:

Advice: 

-Invest in your network! We wholesaled for some time, and when we moved into the multifamily space, we invested into joining mastermind groups, and attending networking events. If there's one thing you get from this post, let it be this: Real Estate is a people business, and investing in relationships will have an INFINITE return. 

A great event coming up is the Fire Summit by Think Multifamily (if you're looking to learn more about multifamily real estate and apartment syndication). My brothers and I are part of their group, but you don't have to be a member to attend the events. They're event would be a good place for you to network, find potential mentors, learn about apartment investing, and make some good friends. Here's some more info: https://thinkmultifamily.com/f...

Books You Should Read: 

-Rich Dad Poor Dad (Robert Kiyosaki)

-ABCs of Real Estate Investing (Ken McElroy)

-Best Ever Apartment Syndication Book (Joe Fairless)

-Think and Grow Rich (Napoleon Hill)

-The 10x Rule (Grant Cardone)

Types of Investing:

-Wholesaling- Not really investing, but a great way to build liquid capital to invest. A wholesaler contracts a home with a seller, then finds an interested party to buy it.

-Buy and Hold (houses)- buy a house, rent it out to a tenant and use their rental payments to pay down the Principal Payment + Interest Payment + Tax Payment + Insurance Payment. You pocket the difference.

-Flipping- EX: You buy a property below market value. Improve the condition through renovations. Sell it at the new value. Make the difference. 

-Apartment Syndication: (my personal favorite) -- you raise money from "passive" investors and buy apartment buildings. 

**these are very broad overviews, but they're enough to spark interest to help you see what you might want to look into more. 

People I should contact:

-You can reach out to me if you'd like! I'd love to help in any way I can.

-Direct message ANYONE you see on social media who you'd like to connect with. The worst thing they can do is not answer. In my experience, the majority of real estate investors are GO-GIVERS, meaning they are eager to help others. Also in my experience, the majority of investors are EAGER to help newer investors, especially when they're young. 

Good luck!!!

-Jeff

Hey @Jonathan Bell. It's nice to connect with you!

My brothers and I are apartment investors. We're in the NC market area. Let me know if you want to chat!

Also, we'd love to meet you in person. We'll be attending the Fire Summit event in Frisco, Texas in December. It'll be a great opportunity to network and meet a ton of syndicators. You should check it out! https://thinkmultifamily.com/f...

 Good luck!

-Jeff

Hey Matt,

Unfortunately I am not allowed to share it but I am sure you can visit their website- Thinkmultifamily.com - and learn more about it. 

@Steffany Kluttz, I'm happy to hear that you're looking to get into Multifamily. It seems like you're headed in the right direction. My tips would be to look into different groups and pick one that fits your needs

1. As @Brian Pownall mentioned above, Dax over at Heritage Construction has a great tool to help with Cap Ex items during the underwriting stage. Our acquisition manager uses it to get a ballpark figure for certain repair items. See the link below. 

https://www.capxact.com/#/logi...

2. I'd say that with the right network and mentor, going bigger is very doable.

3. I'm a member of the Think Multifamily group which is based out of Dallas, Tx. When I was first looking to get into Multifamily, I knew that investing in a mentor would significantly cut my learning curve. I did a lot of research into various groups, and found that with Think Multifamily, I could go bigger faster. They offer education, access to the members of the group who are very collaborative and helpful, and direct access to Mark Kenney himself.

4. For the DD aspect, your local PM can usually help by doing lease audits, and physical DD. Personally, we've used Heritage Construction for our Physical DD process. We usually engage a PM company during the underwriting stages to get their thoughts/feedback on the property, area, market, and financials.

Feel free to reach out to me if you have any questions, or if I can help out with anything! Best of luck!

-Jeffrey

Hey @William Moya. That's a great question.

It'd depend on if you want an "active" or "passive" role in the investment, but I'd encourage you to look into investing in apartment syndications. 

Apartment syndications can yield high returns and apartments have proved to be historically resilient. 

If you're interested in learning more about apartment investing, or if you want to network with people in that space, consider attending the Fire Summit in 2021. It's hosted by Think Multifamily, and it's going to have a ton of education AND great investors and operators. you can go, learn more about the industry, connect with like minded people, and see if it's something you'd like to explore. 

https://thinkmultifamily.com/f...

Let me know if you have any questions. Hope that helps.

Good luck!

Congrats brother! Keep up the great work. 

Hey @Justin Woods

Yes, it is definitely possible to get involved in apartment syndications without experience. I was able to get into my first deal after joining my mentorship group. You just need to connect with a mentor and a network of investors who you can learn from. Make sure to find a mentor who you can partner with and reach DIRECTLY. When my brothers and I were starting out, we found Think Multifamily, and by building relationships with other people in the group, we were able to get into our first apartment syndication deal. 

Let me know if you have any questions about how to find a good mentor, what to look for in a good mentor, or how to get started. 

Anyone can succeed in this space, if you know where to look! Best of luck, Justin!

-Jeff