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It takes years of experience to become an expert at due diligence leading up to closing and then implementing a value-add strategy through construction, renovation, and repositioning.  In this episode, Wayne talks to Jorge Abreu, CEO of Elevate Commercial Investment Group and owner of JNT Construction. Jorge is a full-time active and passive multifamily real estate investor with 1,720 doors on the general partner side and more than 1,400 doors on the limited partner side. Topics on Today’s Episode: Due Diligence Inspection Process:  Gather information Schedule due diligence Hire professionals and manpower Inspect each unit Outsource leases to third-party property management company Inspection Tools: Software apps (HappyCo), phones, tablets, and power packs Most overlooked due diligence aspects and issues include: Drainage Plumbing and Sewage Storm damage  Retrade or Renegotiate? Goal is to not retrade, unless issue is found, but not disclosed Cost Per Door: Ask a lot of questions to get accurate numbers to make appropriate offer Property Must-haves: Rebranding depends on budget and reputation for curb appeal Full Renovation Costs: From $5,000 for affordable housing to $10,000 for all inclusive Competent Contractors: Effective communication of change orders is critical for success Risk Management: Safety first—insurance coverage is necessary in case of claims Why actively invest? Transform properties to build up community, portfolio, and wealth Why passively invest? Returns and tax benefits are positively great Equity and Experience: If you need help, seek partnerships and teamwork   Links and Resources: Jorge Abreu’s EmailJorge Abreu on LinkedInElevate Commercial Investment GroupJNT Construction HappyCoWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

Are you passionate about personal and professional growth? If you are on a mission to help other people capitalize on the benefits of real estate investing, you’re not alone.  In this episode, Wayne talks to Sandhya Seshadri, founder and CEO of MultiFamily4U. Sandhya knowledge of the multifamily space and local neighborhoods makes her an ideal “boots on the ground” asset manager for Dallas properties. Sandhya has invested as a limited partner, key principal, or general partner in more than 3,500 doors; totaling $200 million in assets. A leader in the equities markets for 20 years, Sandhya shifted to commercial real estate due to tax advantages and ability to force appreciate assets.  Topics on Today’s Episode: Why shift from stock market to multifamily? Reduce tax burden, produce passive income How? Bonus depreciation, cost segregation, and real estate professional designation Syndication Concept: Immediate access to money and multifamily mastermind investors COVID and Cash: Real estate is less liquid than stocks and cash, not short-term safety  Passive Investments: 75% suspended distributions will be made up; 7% average return Eviction Rule: What landlords can and cannot do if tenant does not pay rent Multifamily Metrics: Before investing in deals, do you know, like, and trust sponsors? Passive to Active: Understand underwriting, find mentors/partners, perform due diligence Property Portfolio: People don’t witness systems, processes, and pain of syndication Third-Party PM: Set expectations for renting units, retaining tenants, and collecting rents       Links and Resources: Sandhya Seshadri on LinkedInSandhya Seshadri’s Email: multifamily4you@gmail.comBonus DepreciationCost SegregationReal Estate Professional DesignationEnhanced Qualified Retirement Plan (eQRP)Centers for Disease Control and Prevention (CDC)Fannie MaeFreddie MacT12Wayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

How can you be active in your community and give back to the military? Help active, veteran, reserve, and others in the military reach their financial freedom goals by investing in real estate. In this episode, Wayne talks to Tim Kelly from Active Duty Passive Income (ADPI) and Kelly Housing Group. Tim is a real estate investor and educator, best-selling author, speaker, and Chief Petty Officer for the U.S. Navy. Tim is pursuing his dream of owning and operating multifamily real estate by investing in apartments, mobile homes, and storage facilities.  Topics on Today’s Episode: House Hacking: Benefits of long-term buy-and-hold real estate align with financial goals Network Connections: Build relationships to analyze, own, control multifamily properties  Thank You for Your Service: 1 percent of the 1 percent serve in the military Real Estate Pattern: Pass the time by continuing to learn and grow personal finance  Education: Find all the ways you can create generational wealth in real estate VA Housing Assistance: Seek loans to purchase properties and investment opportunities Military House Hacking Book: Rehab, refinance, and create cash flow multifamily assets Self-Manage: Do all the hard work, then pass it onto PM professionals to get time back Efficiency Tools: Time management, documentation, screening tenants, due diligence Balance: Educate others, pursue acquisitions, and pick up skills by emulating success Deliver Value: More you grow, more you can give; more you give, more you receive ADPI’s Three Pillars: Learn, network, and take action Perfect Partnership: What you know, who you know, and who knows you to close deals Lessons Learned: Failure is stepping stone to success; choose how to respond Scalability: Straight shot to increase net worth, wealth, income, quality of life; no regrets General vs. Limited Partners: One is not better than the other to analyze deals Mailbox Money: Become owner to produce income, tax benefits, equity, time, freedom  COVID Impact: Invest in workforce and affordable housing to thrive and survive   Links and Resources: Active Duty Passive Income (ADPI)Kelly Housing GroupMilitary House Hacking by Tim KellyTom Kelly on LinkedInTim Kelly on InstagramTim Kelly on FacebookTim Kelly’s Phone: 847-910-9161VA Housing AssistanceFHA Loans  BiggerPocketsRich Dad Poor Dad by Robert KiyosakiGoogle DriveTenantCloudRent ManagerU.S. Securities and Exchange Commission (SEC)USAA: Insurance, Banking, Investments, and RetirementWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

How can you target stabilized properties to buy a cash-flowing asset and drive value through improved operations? Implement your own systems and deploy your experienced staff to replicate the business model across new acquisitions.  In this episode, Wayne talks to Bruce Petersen, a.k.a. The Apartment Guy. Bruce is a serial syndicator of large multifamily properties ranging from 120-292 units throughout Central Texas. Bruce won the Austin Apartment Association’s Independent Rental Owner of the Year for 2016 and the National Apartment Association’s Independent Rental Owner of the Year for 2017. Also, he’s the author of Syndicating is a B*tch: And Other Truths You Haven’t Been Told. Topics on Today’s Episode: Why write a step-by-step guide? Free means someone’s trying to sell you something Stress of Syndication: What to expect and what can make a difference Coach/Mentor: Teach me how to invest in apartment complexes as a syndication Syndication: Learn from someone with experience to scale faster and safely Know, Like, and Trust: Start a meetup, attend real estate events, and build relationships Think Like a Millionaire: Save money but still live an abundant life, not a frugal one Location and Loan Parameters: Where to find deals based on what you want Relationships: Don’t be a moron, but respectful, professional, and mindful of others’ time Non-Disclosure Industry: Don’t trust or believe everything you are told What you’ll need: 30% down payment, 2-10% closing costs, and rehab funding  Property Goal: Double or triple soft commits for enough money Operations: Lenders may require third-party over in-house property management  KPIs: Owner’s packet with income statement, rent roll, and P&L balance sheet Passive Investors: There is no guarantee when making the right decision/projection Aspiration for Autistic Adult Space: Buy/build property for affordable, safe place to live  Links and Resources: Bruce PetersenSyndicating is a B*tch: And Other Truths You Haven’t Been Told by Bruce PetersenDave RamseyU.S. Securities and Exchange Commission (SEC)Wayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

Interested in investing in multifamily, single-family, or vacation rentals, but not sure where and how to get started? Consult with someone who has behind-the-scenes experience in the asset class of your choice.  In this episode, Wayne talks to Travis Watts, a full-time passive investor and director of investor relations with Ashcroft Capital. Travis educates others by sharing passive investment strategies to achieve and maintain wealth in real estate. Topics on Today’s Episode: Real Estate Investing Background: Dumb luck, prep, and guidance at garage sales Great Recession and Career Focused: Real estate on sale, so find off-market deals Gaining Momentum: Get a roommate and check to pay mortgage Active vs. Passive: Hands-on or hands-off real estate investing Lessons Learned: No spare time to read 52 books a year and find sponsors/operators Analysis Paralysis: Too much focus on ROI rather than value-add experience Target Markets and Trends: Right deal, right market, and right sponsor to lower risks Risk Tolerance: Opportunistic, core, and value-add asset classes Mistakes Made: Diversify portfolio by experimenting, doing what you know/understand Under Promise and Over Deliver: Invest in or take discounts by banking on cash flow  Publicly Traded vs. Private Placement: Always have paperwork reviewed by attorney Education and Network: Align interests and philosophies with like-minded people Four Steps to Financial Freedom by Being Frugal:  Make as much money as possible by doing your best Live on as little of that income as possible for a period of time Take margin from earnings and invest it all Avoid bad debt or pay off loans sooner than later  Links and Resources: Consultation with Travis: https://calendly.com/traviswatts/consultation?month=2020-08Connect with Travis: Understanding Real Estate Private PlacementsAshcroft CapitalTravis Watts on LinkedInRich Dad’s Prophecy by Robert KiyosakiPonzi SchemesBiggerPocketsRule 506 of Regulation DWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

You’re never too young to follow your passion and entrepreneurial spirit by starting your own business and building a brand in real estate.  In this episode, Wayne talks to Matt Teifke, broker of Teifke Real Estate (TRE) Homes and part-owner of Stone Oak Property Management. Matt has a Master’s Degree from Texas A&M and began his career at 18 years old because he’s passionate about value-add real estate opportunities. Topics on Today’s Episode: Value, Value, Value: Capture leads and make money on every aspect of real estate  Family Business: Create balance and merge work/wife relationship as a lifestyle Education Foundation: Set yourself up for success and always strive to be better  Challenges: Finding and figuring out creative ways to obtain real estate financing/lending Preparation: Constantly build relationships and investor base to raise capital Follow Up: How can you add significant value for investors, buyers, and sellers? Matt’s take on the Buy-Rehab-Rent-Refinance-Repeat (BRRRR) Strategy Wholesaling: What it is and why it’s important when finding value-add deals MLS Access: Know and learn the market to make money Contractors: Properly vet and perform due diligence; meet onsite and walk the property Partnerships: Set clear expectations and protect yourself by planning exit strategy   

Passionate about helping people, but ready for a career change with financial growth? When what you think is normal can be taken away, consider real estate investing. Do great work to make great money.   In this episode, Wayne talks to Dave Seymour of the hit home improvement show on the A&E network called, Flipping Boston. After 16 years as a firefighter and paramedic, Dave launched his career as a real estate investor and quickly became one of the nation’s leading experts in both residential and commercial transactions. Dave describes himself as a blue collar guy in a white collar world who wasn’t raised in financial intelligence. Topics on Today’s Episode: Lessons Learned: Trading time for money and following somebody else’s financial plan Keeping Up with the Joneses: Average American’s amount of debt is extraordinary Financial Illiteracy to Intelligence: Losing everything forces Dave to figure it out Past, Present, and Future Mantra: If you say you’re going to do something, do it Favorite Asset Classes: Single-family to multifamily isn’t sexy but creates cash flow Go Big or Go Home: Post-COVID opportunities to take down multiple assets in areas Partner Up: Be available, accessible, and transparent to bring in accredited investors Data-driven Statistics: Multifamily/commercial real estate outperforms stock market Secret Sauce: Finding deals takes time to build relationships with brokers and bankers Good, Bad, and Ugly: Educate, then execute; know what you know Learn and Grow: Always look for value adds in real estate and people Bottom Line: If real estate is not part of a retirement plan, the plan’s broken Passive vs. Active Investors: What to look for and expect to not be a real estate victim  

If you’re interested in real estate investing, which space suits you best? Single-family, multifamily, senior living, or student housing? Real estate is a great way to diversify and expand your wealth.   In this episode, Wayne talks to Jeff Greenberg, CEO and Managing Member of Synergetic Investment Group (SIG). Jeff has invested in multifamily and student housing assets in various markets for several years. It’s about knowing and trusting who you are dealing with.   Topics on Today’s Episode: Banks, Prices, and Time: Reasons why Jeff shifted from single-family to student housing Student Housing: Stabilized or value add, which direction to go?  Finding to Fundraising Deals: Jeff’s seeking high-quality deal sponsors for partnerships  COVID Changes: Student housing is recession resilient, it may not be pandemic resilient Multifamily vs. Student Housing: Similarities/differences involve location, safety, turnover Social Media and Marketing: Depends on properties and available options Rental Rates: Student housing based on affordability, not square footage or amenities Value-Add Strategies: Increase rents via renovations, furnishings, WiFi, and security Joint Cooperation and Acceptance: Support from campuses to provide safe environment Financing: Some lenders hesitant about student housing, others willing to provide loans Real Estate Investing: Be sufficiently funded to cover unexpected events, (i.e., COVID)  Due Diligence: Protect yourself by learning and researching passive and active investing  Links and Resources: Jeff Greenberg’s EmailSynergetic Investment Group LLC (SIG)Fannie MaeFreddie MacPassive Investing in Commercial Real Estate by James KandasamyThe Hands-Off Investor by Brian BurkeWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

Is it possible to raise capital in the COVID-19 environment? It takes sourcing new investors and maintaining relationships with current ones by being a trusted resource.  In this episode, Wayne talks to Andrew Lucas, Director of Capital Markets at Trion Properties, which maximizes investor returns by increasing net operating income through heavy renovation and aggressive lease-up.  Topics on Today’s Episode: Extensive Experience: Finance, investor relations, commercial/residential real estate  Risky Decision: Team up with high-growth entrepreneurs or startup your own shop? Organic vs. Progressive Growth: Friends and family money to robust investor network Funds: Raise and allocate property investments to reduce risk and increase returns  Resident Experience: Increase renovation value by repurposing property amenities COVID-19: Double-down on communication efforts with investors, residents, network Equilibrium: Navigating natural obstacles of raising capital and acquiring properties Debt vs. Equity Funds: Money and no loans, or loans and no money Real Estate Relationships: Be transparent, engaging, available, ethical, and dedicated Investment Markets: Be an inch wide and a mile deep vs. a mile wide and an inch deep Keys to Success: Different markets require different learning curves and due diligence Routine Habits/Best Practices: Create structure, culture, and pay attention to details  Links and Resources: Andrew Lucas on LinkedInTrion PropertiesWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

With a strong work ethic and positive attitude, you can achieve your hopes and dreams of becoming a successful multifamily investor and syndicator.  In this episode, Wayne talks to Vinney (Smile) Chopra with Moneil Investment Group. A mechanical engineer turned successful real estate investor and syndicator, motivational speaker and teacher from India, Vinney believes in everybody’s ability to shape the world through positive thought and selfless actions.  Topics on Today’s Episode: The Good: Start small and stay the course to achieve financial benefits The Bad: Inability to scale up quickly and purchase more apartments with own money Syndication: Pulling and raising money legally for a common goal to make profit Drawbacks: No track record, no bank loans, no money to buy properties Due Diligence Problems: Don’t cut corners; costs more and causes trouble  What’s in the best interest for investors, residents, team members, and vendors? Communication: Personalized presentation and full disclosure of property/asset Happy Family: Monica and Neil equal Moneil brand to leave behind legacy wealth Syndicators must keep five plates spinning in the air:  Build superb teams Build investor lists and relationships Understand underwriting and analyze deals Loan qualification Property takeover and management Passive Investing: Limit principals, request track records, and review criteria to buy  Syndicator Succession Plan and Systems: What happens if…?  Silver Tsunami: Shift to assisted living space to meet demographic demand  Links and Resources: Moneil Investment GroupVinney Chopra’s Mentorship ProgramlApartment Syndication Made Easy by Vinney (Smile) ChopraVinney (Smile) Chopra PodcastsRule 506 of Regulation DAppFolioWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast  

If you don’t have time or don’t want to make time to invest in real estate, can you still make money investing in multifamily properties while reducing/shielding your tax liability? It’s possible and legal.  In this episode, Wayne Courreges talks to Dan Handford with PassiveInvesting.com and Multifamily Investor Nation. Over the past 12 months, Dan and his team have invested more than $136 million in multifamily properties with a capital raise of $50 million to purchase those assets. Also, Dan and his wife, Dennae, host the Tough Decisions for Entrepreneurs Podcast.  Topics on Today’s Episode: Multifamily Side: Dan’s motivation to move from passive to active investing Real Estate Professional Classification: Offset all income to reduce taxable liability Multifamily Investing Mentor: Hire lifeline and pay for direct access to acquire assets ABCs of Asset Classes: Dan chooses A and B+ with value-add multifamily properties Investor Pools: Never passively invest without considering capital preservation at play Would of/Should of: Start ability to find investors earlier and raise money to secure deals Due Diligence: Building relationships with brokers, making investor lists takes time/effort Lessons Learned: Always have more reserves and extra funds than expected Overlooked Aspects: Underwriting can make returns look good, but unrealistic Post-COVID Pros and Cons: Cashflow, renovations, rent defaults, and occupancy rates Pandemics: Create marriages, divorces, and babies that drive demand for place to live      Links and Resources: PassiveInvesting.comMultifamily Investor NationTough Decisions for Entrepreneurs PodcastCoStar Market AnalyticsApartments.comWayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

Get ready to hear active and passive investors share their stories about the good, bad, and ugly aspects of real estate investing. The Untold Stories of Real Estate Investing Podcast is hosted by Wayne Courreges. In this episode, Wayne talks to James Kandasamy with the Achieve Investment Group.  James has syndicated nine multifamily properties valued over $130 million. Also, he’s the author of Passive Investing in Commercial Real Estate: Insider Secrets to Achieving Financial Independence. If you’re interested in multifamily syndication, seek guidance from James through his Achieve Academy Mentorship Program.   Topics on Today’s Episode: Achieve Academy Mentorship Program: Be an operator, raise money, manage assets James’s Journey: Started by acquiring single-family properties; shifted to multifamily Why single-family investing? Produces better returns, deals everywhere⁠—one at a time Why multifamily investing? Scale wealth faster, syndication opportunities, higher value  Single-family Pitfalls: Flips are stressful but profitable; contract management Multifamily Pitfalls: Difficult to find deals and build relationships with brokers Most Overlooked Aspects: Roof condition, sewer lines, tenant demographics/occupancy  Lessons Learned: Conduct thorough inspections and perform due diligence What should passive investors know? Construction, competition, cashflow, and capital COVID-19: Adapt and take operations approach by filling vacancy of existing properties  Foundational Success: Real estate is fun, takes work, and adds value to people’s lives   Links and Resources: James Kandasamy’s EmailText “achieve” to James Kandasamy at x38470Achieve Investment Group Achieve Academy Mentorship ProgramPassive Investing in Commercial Real Estate: Insider Secrets to Achieving Financial Independence by James KandasamyJames Kandasamy on LinkedInJames Kandasamy's Multifamily Investors Group on FacebookJames Kandasamy’s Achieve Wealth Through Value Add Real Estate Podcast Fannie MaeFreddie MacClass A, B, and C HousingThe Miracle Morning by Hal Elrod Wayne CourregesFree Passive Investor eBook by Wayne CourregesThe Untold Stories of Real Estate Investing Podcast

Hello listeners- This is Wayne Courreges your host for the Untold Stories of Real Estate Investing. I am excited to launch our podcast to share the good, bad and ugly of real estate investing. This podcast is focused on hearing the raw truth from experienced investors and operators. We will get to know each of our guests in a way that helps us learn from their successes, but also take us to a more vulnerable place in learning from their struggles and failures. I truly believe that as we hear all aspects of real estate investing, we will benefit from avoiding mistakes and piggyback on what works to ease our investing path. In doing so, we make our businesses stronger to help our tenants, residents and employees, along with protecting and growing our investors wealth. The show is for both active and passive investors. Active investors get tactical advice and experiences to help their investment process, while passive investors can hear from deal sponsors and learn questions/advice that can help them evaluate opportunities to invest in. We will hear from operators and investors in all real estate asset classes ranging from institutional to non-institutional owners. A new podcast episode will launch every other week starting in June 2020. For the weeks we did not post a new podcast, check out our blog focused on multi-family investing at www.creipartners.com/blog. You will find our podcast page and information on my company, CREI Partners. For some background on me, I was born and raised out of Austin, TX. In 2003, I enlisted in the United States Marine Corps and was stationed with 1st Tank Battalion in 29 Palms, California and then transferred to the 1st Marine Air Wing in Okinawa, Japan. I was fortunate to earn my Undergraduate and majority of my master’s degree while in the Marine Corps. I didn’t have much of a life after work! My passion for real estate began in High School, and I was very eager to transition to a Commercial Real Estate company. I participated in a military recruiting event where private companies were hiring former military. I went to this particular recruiting event due to CBRE being an employer. I remember going into the interview and telling the Managing Director she can stop all other interviews as I was her guy. I received an offer to start with CBRE in June 2007. I have been part of the CBRE team for the past 13 years managing commercial real estate properties. I am currently an Associate Director in Austin overseeing approximately 2 million square feet of office and retail space. I am fortunate to enjoy what I do with CBRE and my clients taking care of their real estate assets, while pursuing my side passion of owning and growing investor wealth through multi-family investments. I control the investment life cycle and investor relations as the Lead Sponsor and General Partner. I have three kids ages 8, 7, and 5. I have been married to my amazing wife, Jennifer, for nearly 11 years. I am a Cubmaster for a Cub Scout Pack in Spicewood, TX and stay active in the Rotary Club of Austin. I started this podcast to help others but also to learn alongside each of you. Real Estate is my passion and we will have a lot of great discussions and aha moments. Look forward to having you join us on our next episode of the Untold Stories of Real Estate Investing. Hope everyone stays safe and well!