Looking for Business Partner for Multi-Family

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Looking for Business Partner for Multi-Family

Investor · Phoenix, AZ · Member since 2019 · 14 posts · 4 votes

Hi,

I'm looking for someone to partner with on multiple deals. There's a lot of things I'm looking for in a partner, and I won't settle for anything less. I'm looking for someone who is as hungry and motivated as I am. A business relationship where we can hold each other accountable, share and celebrate our wins, and strategize and grow from our mistakes. If this is something that interests you, and you are looking for a reliable partner for multi-family apartment deals then please take the time to read this. 

What I bring to the table: 

-I have 9+ Years of experience in running a business. After 8 years of running a ticket resale business and growing it from nothing to 25+ employees, I was bought out of my half to pursue real estate investing. I consider myself to be new to real estate investing, but have flipped houses remotely in Arizona for around 9 months now.

-I have some of my own money to invest now (A few hundred grand), and will have more coming in over the next few years. I'm debt free, live moderately, and believe in reinvesting profits back into my properties to accelerate growth/long-term cash flow. 

-I am extremely motivated and hardworking. Real estate Investing is my full time job and I work 45+ Hours a week, every week. First-Hand Experience has provided me the most knowledge, but I've also listened to over a hundred hours of real estate podcasts, read 7 of the top real estate investment books, and talked to many trusted and experienced real estate professionals. In addition, My general business knowledge is pretty extensive and I'm a college graduate with a business management degree. 

-Skillset - I run numbers all day, every day in my head, I can manage people, create and manage systems, make cold, calculated business decisions, negotiate effectively, analyze deals and financial reports, and I have the humility to admit when I am not good at something and find a professional or partner to step in. 

What I'm looking for in a partner:

-Working on real estate full time 45+ hours a week Or have your own money to invest. If I'm going to be putting my time and money into deals, then I would expect a partner to do the same.

-Ability and desire to reinvest profits back into the company short-term. If I'm reinvesting my profits, my partner should be doing so as well.

-If you don't have your own money and only have time, then you'll need to raise some capital from private sources. Ideally, as partners we'll leverage our own money in addition to traditional and private funds to maximize growth and ROI. So if I'm bringing in money, my partner will need to as well.

-You'll need to be self-motivated and a downright hustler. If you're not already successful/wealthy, you have to be willing to live moderately and make sacrifices while the business is growing. 

-You'll need to be charismatic and good at networking/building relationships. This is a key to success in real estate.

If you want to schedule a time to talk, then let me know, either here or privately. If you don't want to partner with me but just want to talk real estate or want to explain another way we could work together, then also send me a message. Thank you for taking the time to read this post.


-William

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Rental Property Investor · Beaverton, OR · Member since 2018 · 88 posts · 155 votes
6y

@William Tomp

What are you goals within real estate investing? What type of real estate? It seems like you have really narrowed down what you want in a partner but what do you want from real estate? Why are you doing this real estate thing? What do you want from life? What is your why, as some might call it?

It looks like you are in Phoenix, you should connect with my brother and partner @Chris Levarek - he/we invest and syndicate in the Multifamily space. But he's actually presented at a couple meet-ups there, and we are always looking for new partners.

No one is smarter than all of us. - Jim Rohn

Otherwise, best of luck.

Respectfully

Ashton

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  • Real Estate Agent · Phoenix, AZ · Member since 2016 · 738 posts · 1k+ votes
    6y

    @William Tomp

    Reading your post, I'm not sure why you need a partner to invest in Phoenix multifamily in the first place.

    You've got money.

    You've got time.

    You've got experience.

    So what's lacking?

    Single family isn't multifamily, so perhaps someone with some syndication experience and managing a commercial multifamily project might be ideal. But besides that it seems to me you've got a pretty good hold on things.

    Most people who post on these forums are missing a major piece of the puzzle (time, money, credit, experience, etc.) But you don't seem to be. 

  • Rental Property Investor · Beaverton, OR · Member since 2018 · 88 posts · 155 votes
    6y

    @William Tomp

    What are you goals within real estate investing? What type of real estate? It seems like you have really narrowed down what you want in a partner but what do you want from real estate? Why are you doing this real estate thing? What do you want from life? What is your why, as some might call it?

    It looks like you are in Phoenix, you should connect with my brother and partner @Chris Levarek - he/we invest and syndicate in the Multifamily space. But he's actually presented at a couple meet-ups there, and we are always looking for new partners.

    No one is smarter than all of us. - Jim Rohn

    Otherwise, best of luck.

    Respectfully

    Ashton

  • Investor · Phoenix, AZ · Member since 2019 · 14 posts · 4 votes
    6y

    @Wes Blackwell thank you for taking the time to reply. You bring up a valid point of why I even want a partner in the first place. I’m not attached to having a business partner at all, and I am happy to continuing to work alone if the right person doesn’t come along. But if I can find the right person to partner with I think we could be more successful together than if we were independent. Here’s why:

    1) In my limited RE experience, I’ve worked with some great people, but ultimately everyone is just looking out for themselves. It’s good having someone else who I can fully trust and have open discussions with. 

    2) The cliche “two heads are better than one”. A partner can find something in a deal I may have missed. Especially in larger complex deals. 

    3) You nailed it on the limited commercial RE experience. The bigger properties can be a little more intimidating and an experienced partner could help a lot there.

    4) My other shortcomings are that I have limited property maintenance/rehab experience and still tend to miss things and Under-budget rehab costs (though I’m getting better). I also still could use some help with sourcing and finding and closing on good leads. If I proceed working on my own, that’s probably where I’d need to put in the most work.

    5) I have my own capital and I’ve made progress getting some private investors to to help fund deals as well, but it’s still limited and someone with access to additional money would also be very valuable.

    I’ve already had a few pretty cool people reach out to me. Even if I don’t partner with them, I always enjoy talking to other motivated people who I may be able to work with down the line. 

  • Investor · Phoenix, AZ · Member since 2019 · 14 posts · 4 votes
    6y

    @Ashton Levarek - Thanks for reaching out. I’d be more than happy to set up a conversation with you and Chris to hear more about the types of syndication/commercial RE deals you guys are doing. 

    There’s a lot to my why and goals. I’ll try to keep it as short as I can without leaving out important aspects.

    Real estate always seemed like the best way to build stability and wealth. I didn’t grow up poor by any means, but my family’s financial situation was very unstable and I never wanted to live like that. Real estate provides a way to earn an income and build wealth through value add and appreciation.

    Specifically, I’m the most interested in apartment complexes. I think buying moderately distressed apartment buildings in B/C neighborhoods, fixing them up, filling vacancies, raising rents, collecting cash flows and holding them for anywhere between 18-72 months before selling for a good profit is the best strategy I have heard of. This is for a variety of reasons including stability, cash flow, value-add and appreciation potential. Flipping houses can help me make some short-term cash, but the main reason I’d flip houses would be to build quicker capital for a multi-family portfolio. 

    My 2020 financial goals are to flip 8 houses and generate 150k profit from those houses. My other goal is purchase at least 24 apartment units. 

    In 5 years - I have the goal of having purchased 1,000 units. I know it’s ambitious, but careful planning and growth can get me there.

    Location wise - I am comfortable flipping anywhere with reasonably priced housing  and market stability/quick growth potential - Phoenix checked those boxes but where I live in Southern California did not. For multi-family I haven’t settled on a city, but have been looking for high cash flows (growing Midwest And Southeast US markets) with moderate appreciation upside in the next 24 months. Afterwards I’d be more willing to invest in complexes at high price points with higher appreciation potential but less cash flows. 

    Great quote by the way, I read Rohn’s “The Power of Ambition” a few years back and it’s one of my all time favorites. 

  • Investor · Phoenix, AZ · Member since 2019 · 14 posts · 4 votes
    6y

    @Ashton Levarek - I hope that answers your questions and let me know if there’s anything else you want to know. Also - I think I mentioned it but I live in California but have invested solely in Phoenix Metro so far.

  • Real Estate Syndicator · Phoenix, AZ · Member since 2018 · 903 posts · 1k+ votes
    6y

    @William Tomp Sounds like you got the plan, the goals and the drive. Let's chat sometime.

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