Affordable Housing Multi Family Syndicator. Generating Market Returns *&* Community Impact. ($180MM AUM) + Tweets on a decade in the housing BIZ + #REtwit
1. Always be honest about the numbers you share. It doesn’t serve the community to have BULLSHIT values/profits/returns/ projections circulated.
Jan 31, 2023 • 7 tweets • 2 min read
How I secured my first 1mm+ investor
I used to have a client come into a @D1Sports I managed in 2013.
Super Quiet -Never asked for much just came in/worked out/showered/ left.
At renewal I asked him what we could do better. He mentioned the cleanliness of the bathroom. 🧵🧵
B/c he was so easy and came to the same class each day,I decided to make sure he got this 1 thing.
I scheduled our cleaner to come in each day before his class and i checked it manually everyday I was there, right before he got there.
Jan 18, 2023 • 11 tweets • 2 min read
Learn the multi family jargon.
Here is a BASELINE of
10 terms w/very simple examples you need to have a firm grasp of as you enter the space.
They are simple, not easy. 🤓
Early on, We did a lot of studying as we broke into the space, as always, “do what you have to do!”
1. Cap rate: The ratio of a property's net income to its purchase price.
Ex. An apartment building is purchased for $1,000,000 and generates $100,000 in net income each year. The cap rate is 10% (100,000 / 1,000,000).
Though I rarely buy single family homes anymore, for a time, it was all I did. Here are couple things that I learned
🧵🧵🧵
#1 SF Investing Tip- Set up a “buying farm” Robert Allen explains this well here. Easier to know everything about 1 area than chasing deals all over your city.
I was first exposed to @moseskagan a year ago via YouTube, he was interviewing @Keith_Wasserman. Sure, big ASS names but the conversation was different. It was thoughtful. Every inch @REconveneLA was just that.
After cornering @Nick_Keesee at a bar.😂
What most of us don’t talk about is how painful underwriting deal after deal is, particularly when you have the capital and operating ability while still bringing good energy to each new opportunity.
