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The Gold Collar Investor

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TGCI 212: What goes behind the scenes in Multifamily Aquisitions

Nov 7, 2022

In today’s show, Pancham interviews Rob Beardsley - principal of Lone Star Capital, and author of “The Definitive Guide to Underwriting Multifamily Acquisitions” and “Structuring and Raising Debt & Equity for Real Estate”.

Dropping out of college was not on his to-do list, but after learning about real estate investing, he knew he made the right choice to not finish his degree and to get started on pursuing multifamily investments and establishing Lone Star Capital with his business partner! Now, he has acquired over $300M of multifamily real estate and has evaluated thousands of opportunities using his own underwriting models.

In this episode, learn what really happens behind the scenes in multifamily acquisitions and acquire essential skills as he shares the importance of the underwriting process and structuring the right debt and equity. Don’t miss out as he’ll also provide worksheets, step-by-step guides, and free underwriting models that could help you get started!

Listen and enjoy the show!

 

Quote:

“It was this idea of taking one unit and going to 100 and then turning it instead of a flip, but into a scalable long-term equity building kind of theme which really resonated with me a lot more and drove me to actually start my company with my business partner.”

Timestamped Shownotes:

  • 0:40 - Pancham introduces Rob to the show
  • 1:54 - On dropping out of college and building Lone Star Capital
  • 6:38 - How business partnerships are similar to romantic relationships
  • 9:06 - Building your underwriting skills and structuring the right debt and equity through his books
  • 13:37 - Understanding debt as the biggest source of risk when investing
  • 17:07 - On looking for new acquisitions amidst current market trends
  • 20:26 - Making investment decisions based on your objectives
  • 29:58 - Taking the Leap Round
  • 29:58 - His first investment property outside of Wall Street
  • 31:05 - What he learned from his investing fears that came true
  • 32:18 - How his investment did not work as expected
  • 35:28 - Patience as an important quality when you first start investing
  • 36:19 - How you can connect with Rob

3 Key Points:

  1. When building partnerships, it’s best if you both have different skills that complement each other instead of having the exact same skill sets.
  2. Identifying quality deals for acquisition and being able to structure the right debt and equity to optimize returns are 2 important skills for a real estate investor.
  3. Understanding debt and the nuances that might make or break a deal is beneficial, and it can be a good approach for passive investors to vet deals.

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