True Multifamily

True Multifamily

By Justin Fraser
Real Stories of Asset Management
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E05: Hoan Thai - Managing Risk and Maximizing Scalability by Mastering your Market

True Multifamily

E05: Hoan Thai - Managing Risk and Maximizing Scalability by Mastering your Market

True Multifamily

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E25: Justin Fraser - He has a 100% contactless leasing process!
Justin Fraser of True Multifamily shares what they're doing to get prospects on board without physically visiting the office. Due to the current effect of the pandemic, it’s important to practice social distancing to avoid being infected. Justin walks us through the remote process, keeping both prospects and leasing staff safe from exposure of the novel coronavirus. Justin gives out his prospects and leasing staff more options to work amidst the pandemic such as utilizing multiple ways to do a virtual tour of the property, a personal video tour with the leasing agent via video call, and also utilizing a digital lockbox that allows the prospect to tour the property. Reference Links: True Multifamily Social Media: Facebook Twitter Instagram LinkedIn
11:46
April 7, 2020
E24: Anthony Scandariato - He fought an appraisal and won!
Joining True Multifamily today is Anthony Scandariato, co-founder and managing partner of Red Knight Properties. He breaks down his experience with fighting an appraiser and how he managed his timeline while citing reasonable steps. Anthony discusses the steps he made in preparing himself in fighting the appraiser, showing market comps and working with the income approach. He also discusses his reason behind self-managing properties, sharing with us the pros of overseeing property management, property takeover, and more. Reference Links Red Knight Properties Anthony Scandariato Social Media Website Facebook Twitter Instagram LinkedIn
23:20
April 3, 2020
E23: H Squared Capital, LLC - They met at a conference and became business partners!
Dr. Heath Jones and Hutch "The Marine Investor" of H Squared Capital join True Multifamily to talk about how they met at a conference and how they became business partners! They walk us through how they started becoming conference buddies and eventually becoming business partners with the same goals whether it be raising capital, growing their network, or overcoming challenges. Also, they discuss the importance and power of having an accountability partner to grow your connections, to be the voice of reason, and to take substantial action. Reference Links H Squared Capital Social Media Facebook LinkedIn: Hutch “The Marine Investor” LinkedIn: Dr. Heath Jones
25:51
April 1, 2020
E22: Mike Bonadies - He adds parking and storage to add value to tenants and the property!
Mike Bonadies comes back for the third time to the True Multifamily Show to talk about unique and creative value add strategies. He specifically lays out more ways to add value and increase the revenue on your assets while losing financial stress. Mike talks about looking into electricity and storage as a creative way to add value, increase revenue, and solve more challenges. Mike does not only add value to his bottom line but also adds value to his tenants into cost savings. He shares a couple of real win-win programs for the tenants to save more money and minimize expenses. He also talks about the challenge and stigma of working with tenants to discuss the ways to save more money and how highly beneficial the tenants understand the difference between commercial and residential electric. He also discusses storage and its importance to adding value. He provides examples and numbers for you to know more how to utilize storage to the max. In addition to storage, he states that parking is a huge premium. Reference Links TerraVestra Property Management Social Media Facebook Instagram LinkedIn
21:44
March 30, 2020
E21: Matt Faircloth - He gives you an inside look at how he runs apartments!
Back to back at True Multifamily, Matt Faircloth speaks about his past experience as an investor and how valuable an inside community of investors is important to growth, adding value, mitigation, and preparation. Today’s real estate market changed overnight and to ensure healthy investments, Matt introduces DeRosa Insiders, an inside look of real estate investing and the real-life work investors do in their day to day life. He mentions a lot of benefits of having a community of real estate investors that are striving to grow their business and how DeRosa Insiders shows how good, how bad, or how ugly real estate investing could be. Justin also gives out a promo code to True Multifamily listeners together with Matt giving an exclusive Basket of Goodies that delivers value for every investor. Reference Links DeRosa Insiders The DeRosa Group Raising Private Capital (Book) Social Media Website LinkedIn YouTube
21:13
March 27, 2020
E20: Matt Faircloth - He's taking action and reducing risk during COVID-19!
Matt Faircloth joins True Multifamily to speak about how he is responding to the Coronavirus pandemic with regards to his multifamily properties. First, Matt stays calm and goes into action mode. He created a mastermind group of other property managers and landlords to lean on for support. This group shares strategies and the latest news on the impacts of government programs, lenders, or other impacts on their business. Matt then reached out to property managers to set plans and expectations while also talking to lenders and insurance companies about options. Matt also speaks about what to do if you have a property under contract and how to navigate the due diligence and closing periods. Reference Links The DeRosa Group Raising Private Capital (Book) Social Media Website LinkedIn YouTube
22:53
March 25, 2020
E19: Spotlight Series - Dave Acosta - He bought 48 units with no prior real estate experience!
This episode is part of a special series that features recurring guests to share their fascinating stories, insights, tips, tricks, and best practices on managing multifamily property. Dave Acosta, managing principal and commercial real estate investment manager of Acosta Capital, joins True Multifamily to share his humble beginnings and strategic transition from becoming a franchise development manager to pursuing his love for real estate. He mentions how he jumped right in without any real estate experience by equipping himself with the knowledge and connections needed so he could eventually take action. Dave also talks to Justin about how it all falls down to adding value when you’re looking for a mentor. Reference Links: Acosta Capital Social Media: Website Instagram LinkedIn
32:27
March 23, 2020
E18: Peter Neill - He insists on unfiltered access and stellar investor relations!
Peter Neill, co-owner, vice president, and internal relations at GSP REI, speaks about the importance of physically going to the property and what happens after the close. He tells us his process of working with the investors and the tenants, and how great relations play a huge role in providing the best relations experience. Peter walks us through the importance of retention, the best ways to raise capital, his team structure, and their forms of effective communication. Peter also speaks on the commitment of leveraging relationships, understanding what you’re raising capital for, and staying in touch with your investors to know their questions and hear their perspective. Reference Links GSP REI Social Media Facebook
24:23
March 19, 2020
E17: Dave Van Horn - He runs PPR Note Company!
On this episode of True Multifamily, Dave Van Horn of PPR Note Company discusses his investment journey from managing contractors through his current role at PPR. He also discusses creative ways to get work done, in that payment terms can be more important than price when it comes to effectively managing contractors. Dave also speaks about legacy planning for his business. Reference Links PPR Note Co. Real Estate Note Investing Book Social Media Website Twitter LinkedIn
20:11
March 16, 2020
E16: Mike Bonadies - He chased out Dogfighters and Pimps to turn his property around!
Mike Bonadies comes back to the True Multifamily Show and talks to Justin Fraser about turning a D Class Asset to a C Class Asset and the challenges that come along with it. Mike also defines and differentiates between D Class Asset and C Class Asset, giving Salem City as an example from his own experience wherein the tenant demographic showed dogfighters, pimps, and tenants committing crimes. Throughout all these challenges, Justin and Mike discuss their creative strategies to reduce D Class Tenants while giving an overview of the innovative solutions on working with D Class Assets. Additionally, Justin speaks about how he got creative in dealing with D Class Assets by removing dark areas in the whole property while also allowing the local police department to have discounted rent to manage the challenges in the community. Reference Link TerraVestra Property Management Social Media Facebook Instagram LinkedIn
21:41
March 13, 2020
E15: Dan Butler & Russel Alt - They built a staffing business to support their investment business!
Russell Alt and Dan Butler of CoreAssist join Justin for this episode recorded at PODMAX. They share how they built a Remote Team Staffing Agency out of a need from their own real estate investment company. Remote Team Members are virtual staff that plug into businesses and take on tasks that help promote growth. As their own biggest customers, Russ and Dan give excellent tips on how to bring on staff to help you grow your business. Reference Links: CoreAssist
25:08
March 11, 2020
E14: Dave Wolcott - He creates wealth strategies for long term success!
This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share. Dave Wolcott, Founder and CEO of Pantheon Investments, joins True Multifamily to explain how to leverage real estate investing using The Pantheon Holistic Wealth Strategy. He breaks down the importance of having a big vision and desire to live a life of financial freedom, abundance, and fulfillment. Dave tells a story of how to create a framework within a strategy, building a team that adds expertise in implementing alternative strategies that take action using three simple steps: Growth Mindset Learning & Team Building Taking Action Additionally, Dave covers how to clarify your vision statement, building comprehensive alternative strategies such as the Infinite Banking Policy and Tax Strategy, and taking action in order to continually push through to the next level. For Dave, we’re all constantly in a growth cycle and learning to build time into our schedules to reflect and rejuvenate pushes us to live more intentionally, instead of reactionary. Reference Links: Pantheon Investments The Pantheon Holistic Wealth Strategy Social Media: Website LinkedIn
21:25
March 9, 2020
E13: Mario Brown - He saves the Earth (and money!) with Ratio Utility Billing!
Coming from the Best Ever Conference in Keystone, Colorado, Justin Fraser talks to Mario Brown, Realtor and Investor in Affordable Upstate, adding value and creating growth while maintaining the retention of tenants. Mario also emphasized that investors must keep in mind that the tenants are clients and customers, and creating growth means to provide tenants with affordable housing. Additionally, Mario talks about operational efficiency and juicing income. He gives out a strategy on the raising rents, showing good faith and appealing to the tenants’ side while making the world a better place by using the “Water Conservation Program”. Reference Links Best Ever Conference Affordable Upstate Social Media Website LinkedIn
11:26
March 6, 2020
E12: Mike Bonadies - He bought a False Multifamily: The Triplex That Wasn't
Mike Bonadies joins Justin to discuss his explosive growth with not only his own investment properties but his management company and maintenance company with hundreds of units under management and over a dozen rehab jobs running simultaneously. Mike shares the story of buying a triplex that wasn't actually zoned as a triplex. Despite being taxed as a triplex, looking like a triplex, and functioning as one, it turns out the previous owner never actually went through the proper zoning procedures. Mike stresses the importance of making relationships with the town officials, clerks, council and even the mayor. He showed them successes from nearby towns and shared his desire to turn around this asset in their town. He's taken what could have been a terrible situation and turned it into an opportunity to build relationships with key town officials and even a new source of property leads! Reference Links TerraVestra Property Management Social Media Facebook Instagram LinkedIn
20:59
March 4, 2020
E11: Palak Shah - Her boiler was stolen, but planning and preparedness kept the project on budget!
This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share. Palak Shah, owner and founder of Open Spaces Capital and Open Spaces Women, joins True Multifamily to share her story of having a theft as soon as she closed the property. She mentioned how important contingency is and how her team made lemonades out of the lemons given to them. Palak shares her different approach, providing a long term strategy to provide quality housing when it comes to property management. Upon quitting her job and building her amazing portfolio, she envisioned getting women the support to learn more about real estate and learn more about value add investing, empowering women throughout the process. She was also featured on the BiggerPockets Money Podcast. For Palak, the best way to scale is to find a scalable model and to keep on doing it, providing excellent service to tenants through social impact and profitability. Reference Links: Open Spaces Capital Open Spaces Women BiggerPockets Money Podcast featuring Palak Shah $3,500 per Month From One BRRRR Deal With Palak Shah Social Media: Website Facebook Twitter Instagram LinkedIn
21:04
March 2, 2020
E10: Alex Felice - He bought a 24 unit from across the country by leveraging his brand and blog!
Alex Felice owns a 24 unit property in Fayetteville, NC and talks to Justin about how he bought and managed this property from Las Vegas, NV. He covers how instrumental showcasing your brand online is to building trust and credibility with investors and partners. Alex recommends documenting your process, create content day after day so that one day someone will "binge" you and decide whether to partner with you or lend you money. Alex shares the progress he's made on his property, as well as some tough lessons learned including unit mix and property size and how he would do it all differently next time around. Fall in Love with Alex as I did by visiting his website at www.brokeisachoice.com or find him on Facebook or BiggerPockets.
26:52
February 28, 2020
E09: Justin Fraser - He recaps the Asset Management Presentation from the Best Ever Conference 2020!
On this episode, Justin Fraser recaps what he learned about the Asset Management Presentation by Frank Roessler from the Best Ever Conference 2020. He covers the fine line between a property manager and an asset manager. This is the first conference Justin Fraser went to that has a talk about Asset Management focusing on the oversight and implementation of a multifamily property, the use of asset management to affect real change at a property, and the importance of the asset manager in mitigating risks. Justin emphasized the key roles of the asset manager such as overseeing capital projects, managing and working with staff, lender communications, monitoring key performance indicators (KPIs), and most importantly, making the resident’s life better. He also emphasized the importance of having good relationships with people who are taking care of your property on the ground. On Frank’s presentation, he talked about the tips on juggling multiple assets in different stages and the DOs and DON'Ts of asset management. Reference Links: Best Ever Conference 2020 Social Media: Website Facebook Instagram
16:34
February 26, 2020
E08: Dan Kidd - He Supercharges ROI with Short Term Rentals in Multifamily!
Daniel Kidd is an investor specialist and veteran at Five Pillars Realty Group. Dan shares his story about one of his first deals and how he took an eviction and turned it into a short term rental using Airbnb. He talks about the challenges long term rentals have to face when it comes to living with short term rentals and how he worked around it. Dan walks us through his experience with renovating a trashed property, turning it into a better, aesthetically pleasing place to live in. He also talks about the economics of Airbnb, making the profit of one short term rental unit equating to three other long term rentals. Reference Links: Five Pillars Realty Group http://www.fivepillarsrealty.com Daniel Kidd https://www.fivepillarsrealty.com/about/daniel-kidd/ Social Media: Facebook: https://www.facebook.com/daniel.kidd.1690 Instagram: https://www.instagram.com/realestatewithdanielkidd/ BiggerPockets: https://www.biggerpockets.com/users/DanielK198
15:49
February 24, 2020
E07: Andrew Schena - Owner and Founder of Capital Equity Partners
Andrew is the owner and founder of Capital Equity Partners. He develops and syndicates primarily out of south Boston. As he looks to scale to larger multifamily properties, Andrew talks about scaling the right way. He and his team are currently working through a 28 unit, refining the tools in their tool belt to prepare them to take down another, much larger deal. Some of these tools include rent raising strategies as well as mitigating operational inefficiencies. Reference Links: Capital Equity Partners https://www.capequitypartners.com/
22:36
February 10, 2020
E06: Jason Yarusi - He keeps his tenants happy, cuts expenses, and adds value without raising rents!
Jason Yarusi, multifamily property investor and apartment syndicator speaks about the downside of raising rents upon property takeover. Rather than raising rents on day one, he improves the property from the outside in, making it a better community for the tenants. By focusing on landscaping, signage, parking lots and roofs, then moving onto utility savings, owners can change the perception of the property. Only after he adds value to the tenants, and their maintenance issues are taken care of, will he roll out a rent raise plan. Reference Links Yarusi Holdings https://www.yarusiholdings.com/about-jason-and-pili/ Multifamily Foundation Podcast https://www.yarusiholdings.com/multi-family-foundation-podcast/
18:18
January 6, 2020
E05: Hoan Thai - Managing Risk and Maximizing Scalability by Mastering your Market
This episode is part of a series recorded at PodMAX, an event that connects podcast hosts and entrepreneurs within the real estate space who have fascinating stories to share. Hoan Thai, a rental property investor practicing the BRRRR strategy speaks about mastering your geographic area to maximize scalability and efficiency. Reference Links I Escaped My 9 To 5 https://iescapedmy9to5.com/ Hoan’s Facebook https://www.facebook.com/hoan.thai
21:25
December 24, 2019
E04: Five Pillars Realty - They found the right partners for Multifamily Investing!
Shelby Osborne, Mike Glaspie, and Dan Kidd of the Five Pillars Realty Team explain how they started with a Pentaplex (5 unit) and grew their multifamily partnership to raise capital, find deals, and grow their multifamily investing business. They discuss the best ways to work together, divide responsibilities, and leverage their strengths to create a powerhouse multifamily investing partnership! Check out 5 Pillars on Facebook or Instagram!
25:30
December 2, 2019
E03: Justin Fraser - He added $200k of value with zero investment!
Justin Fraser explains how he negotiated a contract with a Fiber Optic Service Provider to generate an upfront fee as well as recurring revenue for two properties, all at no cost to tenants or ownership, which will add over $200k to the value of the properties. This is an excellent “value add” strategy which takes zero financial investment while adding  an amenity for the tenants. Check out True Multifamily on Facebook! Follow Justin on Instagram!
14:59
December 2, 2019
E02: Jennifer Outland - Her Staff Quit on Day 1!
Jennifer Outland, Regional Manager for Rand Property Management joins True Multifamily today to explain how to take over a property from a place of POWER vs. weakness. She tells the story of how upon takeover of a new multifamily property, her maintenance technicians both quit on day 1, but was still able to establish a powerful presence at the property while beginning the execution of the business plan. Jennifer speaks about the five core values of managing multifamily and how she uses each of these during a property takeover: 1. People First, 2. Growth Mindset 3. Unwavering Ethics 4. Extreme Ownership 5. Make it Happen Jennifer also covers all the tasks that should be done on Day 1 when taking ownership of a multifamily property. Check out Jennifer on social media: LinkedIn Facebook
21:24
December 2, 2019
E01: Justin Fraser - He hired the wrong Property Manager!
Justin Fraser kicks off the premiere episode of True Multifamily with a honest look at the mistakes he made on his 40 unit apartment complex. Justin hired a company that was not the right fit to manage the property, but also took too long to make a change once that mistake was realized. Check out True Multifamily on Facebook! Follow Justin on Instagram!
14:34
December 2, 2019