Have you ever dreamed of owning large apartment complexes? If so, don’t miss this powerful interview with Jonathan Twombly, a real estate investor whose very first deal had over 100 units! You’ll learn why Jonathan skipped the “small deal phase” and jumped right into big deals — and how he’s gone from nothing to over 400 units in the past several years. This show offers an incredibly realistic view of what it actually takes to break into the apartment complex market!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
Fire Round Sponsor
We just wanted to give a shout out to our podcast sponsor on today’s show: PATLive. PATLive’s team of superstar receptionists will always leave your customers delighted. Every agent goes through a rigorous training course before they can answer calls, and we’ve got quality assurance down to an art.
Learn more by visiting PATLive.com/biggerpockets!
In This Episode We Cover:
- How Jonathan got out of the law industry and into real estate investing
- The partnership that changed his life
- How you can always find deals within 100 miles
- The details of Jonathan’s first deal
- What to do when someone cancels the deal
- How financing contingency works
- How he structures his deals
- Tips for establishing yourself with brokers
- The due diligence list to show to brokers
- The importance of asking your friends for introductions
- Why you should focus on the relationship aspect of investing
- The details of Jonathan’s first successful deal
- Why you should consider buying the “unsexy” properties
- Tips on looking for deals
- How he makes money through syndication
- His strategy on making 400-unit deals
- How he manages properties
- What you should know about underwriting a deal
- Things he would done differently if he started all over again
- And SO much more!
Links from the Show
Books Mentioned in this Show
- The Wall Street Journal. Complete Real-Estate Investing Guidebook by David Crook
- Logistics Clusters by Yossi Sheffi
- The War of Art by Steven Pressfield
- The 4-Hour Workweek by Timothy Ferriss
- “You don’t know what the heck you are doing, but you’ll figure it out when you start somewhere.” (Tweet This!)
- “If you are a new investor, it’s not about how much money you have but about how many deals you have closed.” (Tweet This!)
- “Persistence is 90% in business and then the other 10% is not being an idiot.” (Tweet This!)