True Multifamily

About True Multifamily

Real Stories of Asset Management

Publisher

Justin Fraser

Category

business

Language

en

Explicit

No

First episode

2 Dec 2019

Latest episode

31 Mar 2022

Latest episodes

97 episodes in the feed.

1. 

   31 Mar 2022

   E97: He bought $20 million worth of real estate in 100 days!

   John Casmon joins True Multifamily to talk about the power of creating a business plan and constantly evaluating it to make sure you are making decisions based on, not just what you see at the property, but also what you see in the market. John also discusses the importance of forming strategic partnerships as you’re trying to scale your business. Coming from corporate America, John spent 15 years in advertising and marketing for large brands like Nike, Coors Light, Mountain Dew, and General Motors. He then slowly started building up his own personal multifamily portfolio. Eventually, he began working with other investors, scaling into real estate full-time. Last year, John did about $20 million worth of real estate in just 100 days – and he continues to grow and look for his next opportunity! Here are some power takeaways from today’s conversation: John’s thought process around his decision to exit some of their assets The power of partnerships and what the transition looks like Dividing up roles and responsibilities Forming strategic partnerships that play specific roles on the team Building a business plan The two layers of rental comps Leveraging the feedback loop Asset management from an operational perspective Episode Highlights: [05:14] The Power of Partnerships If you don't have a lot of experience coming into real estate, it makes sense to align yourself with other people who are more experienced than you. Be open to becoming a part of the team instead of being the one in the driver’s seat. Additionally, it’s crucial to be able to develop those relationships and understand who you're partnering with initially. It’s crucial to do deeper due diligence on the property, your business plan, and your partners. There are a lot of different ways you can structure things. Maybe you need to raise some capital for the deal or play some other roles in marketing or investor relations. Whatever that looks like, make sure you can deliver on those roles and tasks and that you're delivering for the overall deal. [15:33] Building and Executing a Business Plan An essential step in creating your business plan is to continually evaluate your interest rates, the current demand, or rent growth. Always be looking at these different factors and adjust accordingly. Look at what opportunities are there, your current rents, and your current occupancy. Look at what vacancies looked like over the last year. Based on all that information, you can then start to figure out where there might be an opportunity and then from there formulate your business plan. It's all hypothesis until you go out and do it. You’ve got to go execute it and once the market responds, get some of that feedback and continue to adjust your business plan accordingly. Resources Mentioned: Casmon Capital (https://www.casmoncapital.com/) Podcast: Multifamily Insights (https://podcasts.apple.com/us/podcast/target-market-insights-multifamily-marketing/id1269346577)

2. 

   17 Jan 2022

   E96: Justin Fraser & Matt Faircloth - They transformed an apartment complex and doubled investor's money along the way!

   Real estate investor, author, and syndicator Matt Faircloth of the DeRosa Group joins Justin Fraser to talk about the challenges and triumphs of selling the DeRosa Capital 8, Douglas Square Apartments – from dwindling occupancy due to management’s poor communication with tenants, to refinancing the property twice, and ultimately, making the decision to sell the property making it a win-win situation for everyone involved. This property was a 4-year hold that they invested $2M in CapEx renovations and increased Net Operating Income (NOI) on the property by 8x. Matt Faircloth is the co-founder and president of the DeRosa Group, a real estate investment company that specializes in buying and renovating residential and commercial properties. In this episode, Matt imparts some great insights into selling and buying a multifamily property and some important lessons from being on the seller's side of things. Here are some power takeaways from today’s conversation: 2 main challenges prior to selling the DeRosa Capital 8, Douglas Square Apartments Conversation tips with your tenants Strong local presence in a management company How they raised occupancy during COVID times Using a broker with a big, national reach when selling a property Buyer interview tips for multifamily Episode Highlights: Building Strong Local Presence as a Management Company A lot of people buy real estate thinking that they can just pull out as much as they can out of it without putting stuff into it. When you’re looking to renovate a property to increase rent, don’t just email your tenants or put notices on the door saying their rents are going to go up or they can just move out, because that will certainly drop your occupancy rate. There’s definitely a better way of handling these conversations with tenants in a more humane way. Using a National Brand Broker When Selling a Property It's important for you to talk to all brokers when you go to buy a property. But when you go to sell, using a national brand is important because they have a deep mailing list and they know how to run a “multiple bids” scenario for you. Buyer Interview Tips for Multifamily There are things that are going to come up and you can't have a perfect property that you're going to retrade somebody – meaning renegotiate the price and renegotiate the terms. There are more next-level things that are going to happen and issues that may come up. Now, good buyers have a nice contingency and construction budget. It pays to ask about their construction budget and their contingency because it's good to know that they're going to roll their sleeves up and renovate the place, and not just cross their arms and hope the cash flow comes in. For buyers out there, make sure you have a healthy construction budget and a contingency of "just in case" money. That way, when you go to those interviews, it’s going to make that seller more comfortable knowing that you got a place to go for things that are unexpected. Resources Mentioned: DeRosa Group (//derosagroup.com) Matt Faircloth (https://www.instagram.com/themattfaircloth/)

3. 

   9 Dec 2021

   E95: Why you should tell The American Dream to eff off!

   High school business teacher Dan Sheeks joins True Multifamily to talk about his latest book, First to a Million: A Teenager’s Guide to Achieving Early Financial Independence. The book is written for young people where he introduces the idea that you don't have to work till you're 65. Teaching the basics of investing such as passive income and real estate investing, Dan offers various options for building wealth and achieving early financial independence. Dan also shares the 4 mechanisms that lead to early financial independence, which has nothing to do with being rich. Here are some power takeaways from today’s conversation: About the book and its target readers Why you should tell the American Dream to eff off Why financial independence has nothing to do with being rich How to achieve early financial independence Episode Highlights: Why You Should Tell The American Dream to Eff Off The book challenges the typical mindset of Americans and what society has told us that we have to do. The typical American Dream is to graduate college, get a good job, get married, have 2.3 kids, a dog, and a white picket fence. You work till you're 65 then you can retire and live a good life. There's nothing wrong with that path. It has worked for millions of people, and it's a very noble way to live. But there are also other options that don't require you to work until you're 65. Why Financial Independence Has Nothing to Do With Being Rich The overall happiness of someone starts declining after you get past that point "having enough plus a little extra" because there are a lot of responsibilities that go with it. Financial independence is not about owning private jets, five houses, going on the most expensive vacations at five-star resorts. Financial independence is having enough plus a little extra – so that you are doing and enjoying everything that makes you happy in life. And so, the main benefit is getting your time back or the option to spend your time as you would choose, versus having to go to work five days a week, 40 hours or 60 hours a week until you're 65. Then you could use that extra time to engage in the things that make you happy. How to Achieve Early Financial Independence Dan recommends doing the 4 mechanisms that lead to earning early financial independence: earn more, spend less, save the difference, and invest your savings wisely. Track your income and expenses. If you're saving 30% to 50% of your income automatically every month, you reach early financial independence. And the first step to being able to do that is to know what's coming in and what's coming out. Resources Mentioned: SheeksFreaks LLC (https://www.sheeksfreaks.com/) Book: First to a Million (http://www.amazon.com/Dan-Sheeks/e/B093K6CCNS) Episode 54 with Dan Sheeks (https://www.truemultifamily.show/episodes/054-sheeksfreaks)

Reach and audience

Public platform figures. Ratings count people who left a rating, not total listeners.

Apple Podcasts (US)

5.0 / 5

22 ratings

Contact True Multifamily

Guest appearances

Books guests

Based on episode analysis; this does not confirm that the show is currently accepting guests.