MB 196: How to Align with a Sponsor to Do Your First Multifamily Deal – With Anthony Metzger
So, you don’t have real estate investing experience. And you don’t have any money of your own to invest. What if I told you that in two short years, you could be closing on your first deal of 200-plus units? That you could be fielding calls from brokers at Marcus & Millichap? That you could be building your own multifamily brand?
Anthony Metzger spent 10 years in the wine industry, working as a sommelier and winemaker in the US and Europe before setting his sights on multifamily real estate. After his brother introduced him to The Deal Maker Blueprint Training & Certification at the end of 2017, Anthony got busy underwriting deals and reaching out to brokers. Two short years later (in a joint venture with Nighthawk Equity), Anthony has closed on his first deal, a 218-unit multifamily property in Little Rock, Arkansas.
On this episode of Apartment Building Investing, Anthony joins me to share what inspired his interest in multifamily and walk us through the experience of doing his first deal. He explains how learning the language of real estate gave him credibility with brokers and how consistent practice analyzing deals and talking to brokers built his confidence. Listen in to understand how the Nighthawk Equity team supported Anthony in the buyer’s interview and learn how to align yourself with a lead sponsor to do YOUR first multifamily deal.
Key Takeaways
What inspired Anthony’s interest in multifamily
- Listening to Grant Cardone and Robert Kiyosaki
- Always been entrepreneur, hungry for project
Anthony’s initial real estate goal
- Partner with Nighthawk Equity to do first deal
- Didn’t want to raise money until experienced
How things changed for Anthony once his first deal closed
- Taking calls from Marcus & Millichap
- Brokers approach with off-market deals
How Anthony got brokers to take him seriously
- Learned language of investing from The Deal Maker Blueprint Training & Certification
- Genuine in building relationships with brokers
Anthony’s advice on demonstrating confidence with brokers
- Prepare with script based on underwriting
- Practice on ‘throw away market’
Anthony’s interaction with the broker on his first deal
- Several calls to discuss deal + ask questions
- Spitball ballpark number, asked to draft LOI
The ideal time to bring on a joint venture partner
- After verbal agreement but before signed LOI
- Support in buyer’s interview, include JV terms
What to expect from a buyer’s interview
- Seller talks to everyone who made offers
- Choose person most likely to close deal
Anthony’s approach to aligning with a lead sponsor
- Build relationship at events, bring deals
- Respect time by adding value (inside track)
What’s next for Anthony
- Do second deal
- Build own multifamily brand
Anthony’s advice for aspiring multifamily investors
- Learn to underwrite + practice making offers
- Network to build relationship with sponsor
Connect with Anthony Metzger
Email [email protected]
Resources
Michael’s Free First Deal Training
Anthony’s Wine Documentary: The Pink Grape
The Deal Maker Blueprint Training & Certification
Michael’s Syndicated Deal Analyzer
Michael’s Deal Maker Mastermind
