Investor · Virginia Beach, VA · Member since 2011 · 68 posts · 12 votes
Hi All
I'm looking to invest and I've started investigating the multifamily space. Joe's name has come up and I've requested some info from him about current offerings.
Has anyone invested with him? If so, what can you tell me about your experiences?
Specialist · Los Angeles · Member since 2017 · 8 posts · 8 votes
7y
Hello, I've recently invested with Ashcroft (Joe's company). I attended the Best Ever Conference to put a face with the company. I genuinely like Joe and appreciate his transparency. I also read his syndication book, which I recommend. It sheds a lot of light on his approach.
I've been active and passive in real estate. I've had a broker's license for decades and have met a lot of syndicators for all asset classes. Over the last 60 days, I've considered 5 syndicators and passed for one reason or another (too short of a financing term, no concrete plan for worst case scenarios, uncertainty about property aspects, unrestrained exuberance, etc.).
I've also worked at a commercial real estate brokerage creating proforma's and PPM's. I appreciate the clarity, preciseness, and professionalism put into Ashcroft's materials.
The worst experience I've had as an LP was with a group of old school get it done guys who left a lot of money on the table due to their lack of attention to detail.
Joe's organizational structure, public presence, and communication practices were very appealing to me.
My experience has been seamless so far. [Request to contact Removed by Moderators]
Specialist · Los Angeles · Member since 2017 · 8 posts · 8 votes
7y
Hello, I've recently invested with Ashcroft (Joe's company). I attended the Best Ever Conference to put a face with the company. I genuinely like Joe and appreciate his transparency. I also read his syndication book, which I recommend. It sheds a lot of light on his approach.
I've been active and passive in real estate. I've had a broker's license for decades and have met a lot of syndicators for all asset classes. Over the last 60 days, I've considered 5 syndicators and passed for one reason or another (too short of a financing term, no concrete plan for worst case scenarios, uncertainty about property aspects, unrestrained exuberance, etc.).
I've also worked at a commercial real estate brokerage creating proforma's and PPM's. I appreciate the clarity, preciseness, and professionalism put into Ashcroft's materials.
The worst experience I've had as an LP was with a group of old school get it done guys who left a lot of money on the table due to their lack of attention to detail.
Joe's organizational structure, public presence, and communication practices were very appealing to me.
My experience has been seamless so far. [Request to contact Removed by Moderators]
Investor · Virginia Beach, VA · Member since 2011 · 68 posts · 12 votes
7y
Thanks for your recommendation, Cynthia. I actually have already pulled the trigger with Joe since I created this post and so far it's working out great!
Burlington, MA · Member since 2017 · 61 posts · 16 votes
7y
Just wanted to follow up on this to see how your investment is going with Ashcroft/Joe? I am also curious as to what investing with his company is like and if there are any pros/cons.
Investor · Hendersonville, NC · Member since 2013 · 754 posts · 281 votes
7y
I ended up putting about 7% of my assets with Ashcroft. So I'm highly invested, and feeling pretty safe. I mean, the rapidity with which Ashcroft seems to find deals, and the state of Florida cause me a tad bit of concern, but I think they have a good thing going. A friend also invested. I definitely kicked three or four tires before I pulled the trigger on Joe (to mix metaphors).
Investor · FL · Member since 2017 · 247 posts · 245 votes
7y
I have invested in 7 deals with Ashcroft Capital. I have also invested with 12-14 other syndication groups. I have had a very positive experience working with Ashcroft over the past several years and I recently joined their team. Happy to discuss and answer any questions. [Solicitation Removed by Moderators]
I have invested in 7 deals with Ashcroft Capital. I have also invested with 12-14 other syndication groups. I have had a very positive experience working with Ashcroft over the past several years and I recently joined their team. Happy to discuss and answer any questions. DM anytime
Were you unaccredited when you began investing in syndications? Are there any websites/books you recommend for beginners?
Investor · FL · Member since 2017 · 247 posts · 245 votes
7y
@Luis Vaca Good question Luis. I was in fact accredited when I started investing in syndications. I knew that I would need a good amount of capital to start investing in syndications in order to get a solid stream of cash flow. In other words, $150 a month in cash flow was not going to keep me motivated. For many years, I worked a high-paying job while flipping single-family homes and taking on various value-add single-family projects. I also saved the majority of my salary and 100% of my real estate profits during these years. Joe Fairless' book "The Best Ever Apartment Syndication Book" is a great read for anyone interested in investing in syndications or starting their own syndication. It's on Audible and available in Hard Copy. Hope this helps!
Real Estate Investor · Waldorf, MD · Member since 2014 · 592 posts · 320 votes
7y
I've invested in him, not with him. I picked up his books Best Ever Apartment Syndication Book and Best Real Estate Investing Advice Ever. Two of the best books on the market. Unfortunately, I'm not accredited and I don't think he's taking on simply sophisticated investors. Correct me if I'm wrong.
@Cynthia Occelli - They say, "no such thing as a stupid question" so I'll ask, what do you mean by "restrained exuberance" in terms of syndication? Also, what software was used when you were creating proformas?
Specialist · Los Angeles · Member since 2017 · 8 posts · 8 votes
7y
@Account Closed Hi. Unrestrained exuberance meant wildly exuberant in their assessment the upside of their project without awareness or consideration of the downsides and potential problems.
The proforma softwares we used were good ole MS word, excel, powerpoint, and the Adobe suite.
Rental Property Investor · Yorba Linda, CA · Member since 2017 · 9 posts · 3 votes
6y
@Cynthia Occelli.... Hi Cynthia, am thinking of Investing in Ashcroft Capital and Joe Fearless. I’d like to know your experience so far in terms of returns and overall expectation so far. I’m also wondering how they are able to offer a deal after deal every month in what everyone says is the tale end of a current real estate cycle.
How have you verified their holdings ? Hoping it’s not a Ponzi scheme.
Developer · Hamptons / Montauk, NY · Member since 2014 · 58 posts · 20 votes
6y
I invest in many of Ashcroft's deals, and know Joe personally. Can't speak highly enough.
Joe Fairless is as legit, genuine, and passionate a person as you will ever come across. That is reflected in Ashcroft. That also comes through in his books, his podcast, and especially at his Best Ever conference, which is top notch.
@Sanjay Patel they can find those deals because they have a good sized team of talented people in smartly defined roles under a highly effective org structure, they are armed with data, they work their butts off, and they are extremely creative and strategic in their negotiations. Deals that would be mediocre for other GP's could be great deals for them based on their ability to buy smarter and add more value for less money.
For anyone who's on the fence, you could get yourself an early bird ticket to his 2021 Best Ever conference and meet him and his team in person. Aside from a ton of great content and networking, it could serve as a powerful step in your diligence process.
Investor · Boerne, TX · Member since 2017 · 1 post · 0 votes
6y
I am currently invested in 8 different Multifamily Syndications with Ashcroft Capital. The oldest was acquired in June of 2018. I have attended their last two conferences. I am also invested in numerous offerings with 5 other syndicators/sponsors. My experience to date has been perfect. All assets I'm involved with have performed up to or better than their proforma's. Joe has always been very responsive to any question I have ever had. Their communication as a company on current assets, distributions, and reports is fantastic. I have received a newsletter, email updates on each property, and my distribution every month, on time, flawlessly. I also receive quarterly and annual P&L Statements. They have recently launched a portal that gives me access to all my investments, documents and other valuable information. Ashcroft is nearing 1 billion dollars of assets under management so they are not a small player in the non-institutional multifamily market. I'm sure if you reach out to Joe you can get a reference list and then ask references for other people they know who have invested with Ashcroft to get a few levels removed from the original list. It's always a good idea to form your own opinion. It is also important to know that Joe is one on a team of people at Ashcroft. The other primary people are Frank Roessler (the other founder and CEO), Scott Lebenhart, the Director of Acquisitions, and several others I won't bother to list here as you can finding them on their web page and read their bio's there.
Rental Property Investor · MA · Member since 2019 · 8 posts · 6 votes
6y
I pulled the trigger on one syndication investment with Joe and the Ashcroft team in September, 2019. Thus far, it has gone perfectly and I have seen the exact same behavior that @Gregory Boyer describes in his response above. Clearly, it has not been very long since I invested but given @Gregory Boyer comments, other similar comments I have seen, and my experience thus far, I am very confident I made a good choice investing with them. Joe himself has responded to each and every query I have made since I invested and he has done so usually on the same day but never longer than within 24 hours.
I pulled the trigger on one syndication investment with Joe and the Ashcroft team in September, 2019. Thus far, it has gone perfectly and I have seen the exact same behavior that @Gregory Boyer describes in his response above. Clearly, it has not been very long since I invested but given @Gregory Boyer comments, other similar comments I have seen, and my experience thus far, I am very confident I made a good choice investing with them. Joe himself has responded to each and every query I have made since I invested and he has done so usually on the same day but never longer than within 24 hours.
Happy Investing!
Update: After 2 years and 7 months invested (projected a 5 year investment) in this syndication, Ashcroft sold the property. The monthly distributions (on time every month) and profit from the upsell resulted in an APR of 31.4%, (1.8x my original investment). Even better, Ashcroft offered a 1031 exchange to keep my original investment plus the investment earnings invested in a new syndication. This allowed me to avoid paying taxes (for now) on the investment just exited and invest it all on the next one.
I have not had any bad experiences with Ashcroft nor have I seen anyone else report that they have. I strongly suggest them as a GP for value-add apartment syndications!