There’s a saying in real estate that ‘you make money when you buy.’ And while that may be true for single family rentals and flips, apartment buildings are a little different.
In multifamily, you make money when you add value. When you execute your business plan. When you stick to your budget and achieve projected returns.
So, what does successful asset management look like in today’s market?
Jonathan and Paula Nichols are the cofounders of Apogee Capital, a multifamily syndication business that helps people invest in commercial real estate.
Jonathan and Paula began their investing journey in 2018, and by 2021, they had built a portfolio of 183 units worth $15.6M. The Nichols also serve as mentors with the Michael Blank program.
On this episode of Financial Freedom with Real Estate Investing, Jonathan and Paula join us from Deal Maker Live to share their top takeaways from the conference and explain why 2024 is a year of opportunity in multifamily.
Jonathan and Paula offer advice on raising capital in the current market and discuss why relationships are crucial in the team sport that is syndication.
Listen in for insight around the characteristics of successful mentoring students and find out what it takes to manage multifamily assets well in 2024.
Key Takeaways
Jonathan & Paula’s top takeaways from Deal Maker Live
- Meet new people and hear their stories
- 2024 = year of opportunity in multifamily
What the data says about deal flow in 2024
- Increase in number of deals that pencil
- New debt starting to make sense again
Paula’s insight around raising capital in 2024
- Build platform, share opportunities on social
- Reach out to friends and family
- Meet potential investors where they are
Paula’s keys to getting started in multifamily
- Due diligence to find right partners
- Don’t fear taking action
Why relationships are crucial in multifamily
- Focus on your strengths (team sport)
- Find experts to do things you’re not good at
What traits Jonathan & Paula see in successful mentees
- Refuse to quit, take consistent action
- Take time to build network
Paula’s tips for successful asset management
- Be budget conscious
- Be proactive about turning units
- Execute business plan creatively
Connect with Jonathan & Paula Nichols
Connect with Michael Blank
Apartment Investor Network Facebook Group
Email [email protected]
Resources
Learn More About Deal Maker Live
Access Michael’s Apartments 101 Masterclass
Schedule a Call with Michael’s Team
Explore Michael’s Mentoring Program
Join the Nighthawk Equity Investor Club
Review the Podcast on Apple Podcasts
Financial Freedom with Real Estate Investing by Michael Blank
