Deferred Sales Trust Client shares his experience
David Sloan is a multifamily syndicator and specialist and he’s focused on value add multifamily throughout the United States. He’s a seasoned attorney with tremendous hands-on experience in real estate. And he formerly worked with the General Counsel of Sunstone Hotel investments, which is a publicly-traded read. And that role, he managed all legal functions, including securities, manners, and real estate transactions.
David Sloan formerly had a real job and was at a larger company. And in 2014, and 2015, he started to dabble a little bit with one of his current business partners, Jordan Fisher. And they’ve grown their platform to over $200 million now. And assets we’ve taken, Nike deals full circle, that’s purchasing, stabilizing, and selling, we have another seven assets that they currently own. And they have two more under contract, which is their Spanish Oaks deal in Las Vegas.
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Deferred Sales Trust Client shares his experience and his new Multifamily Deal with David Sloan
Brett:
I’m excited about our next guest. He is a multifamily syndicator and specialist and he’s focused on value add multifamily throughout the United States. In fact, he’s a seasoned attorney with tremendous hands-on experience in real estate. And he formerly worked with the General Counsel of Sunstone Hotel investments, which is a publicly-traded read. And that role, he managed all legal functions, including securities, manners, and real estate transactions. And now he’s a principal for next wave investors, and he oversees the firm’s acquisition and investments to ensure accuracy, legality, and efficiency, please welcome to show with me, David Sloan. Hey, David, how are you doing?
David:
Good. Thanks, Brad. That’s quite the introduction.
Brett:
Hello, thank you so much, and for being on the show and absolutely looking forward to diving in a little bit about your story. And can we start right there? Would you give our listeners a little bit more about your story and your current focus?
David:
As Brett indicated, I have formerly had a real job and was at a larger company. And in 2014, and 2015, started to dabble a little bit with one of my current business partner, Jordan Fisher. He had, you know, decade-long or so experience in the multifamily asset class, we both had a mutual interest in continuing his you know, and my investment and multifamily. We’ve been doing this since 20, really, since 20, early or late 2014, early 2015. So this is when your call it six or seven, however you want to look at it. And we’ve grown our platform to over $200 million now. And assets we’ve taken, I believe Nike deals full circle, that’s purchasing, stabilizing, and selling, we have another seven assets that we currently own. And we have two more under contract, including one that we’ll talk about today, which is our Spanish oaks deal in Las Vegas.
Brett:
Beautiful, David, thanks for that overview. And that’s fantastic. And before we dive into that deal, and some of the philosophies on multifamily investing, I want to take a step back and help the audience to get to know you a little bit better, David? And this is the question. The question is this, I think we’ve all been given certain, you know, gifts in this life, some people call them strengths and superpowers, I believe their God-given gifts, but I gave these gifts are given to us to be a blessing and help to others. So I’m curious, David, what’s the gift? Maybe you are the strength that you believe you’ve been given? And how does that help how you help people today?
David:
I would say strength is just the practical aspect of investing here and just take deals. There’s the theoretic and you’re sitting behind a computer, and how can you financial engineer to make a project or to make returns work. And then there’s the practical aspect, which is, I guess applies to a lot of people that invest with us is, they don’t have experience doing this. That’s why they’re investing with us or people like us. And just practically letting them know that. Here’s what we do. There’s really no rocket science to it. What it is, is just understanding where there’s potential value to be unlocked. Going out after you understand what kind of value or potential upside there is, finding investors explaining to them that look, yes, you can go with a bunch of different companies. However, here’s that here are the things that that we focus on. Number one is being transparent, letting people understand, here’s what we’re doing. We are buying, we are renovating, we are stabilizing. We have experience with doing this. We’ve done this before. Matter of fact, and this particular deal we’ll talk about later, we’ve done it right around the corner, many times. And so I think that brings that to the table helps and helps people just get comfortable with this investment. At the end of the day, these are all we’re all making bets. We’re making bets that you know we can make not only the asset stronger, that we will have some sort of an exit within 357 years down the road. So again, I think our strength is explaining this to people and very understandable terms also being accessible and how Having very clear and consistent reporting to investors, which is something that we have that some of, you know, some of those investment companies like ours out there lack, we’ve made a significant investment in our back office, we have, depending on, you know, where we are in our growth stage anywhere from five-plus accountants that are on staff. And that’s something we really focus on again and helps us with transparency.
Brett:
Beautiful love that. Yeah, love, transparency, love the clear communication and reporting. And so let’s dive right into multifamily investing. When did you become fascinated or really excited about helping others achieve wealth through multifamily investing?
David:
At first, selfishly, we were investing with our own money. And then as we realize that our own money can only go so far, you start to bring in friends and family into these deals. And then, as you continue to grow, and you, you know, we are vertically integrated, integrated, we self-managed as well. And the only way really to get to a breakeven point is to grow on the management side. And so as we grew, we were capital constrained, we started to work with friends and family and now that we’ve proven this time after time, that we can, you know, have a rich, adjusted manner, continue to grow our platform, and at the same time continue to really provide outsized returns to our investors. It’s rewarding, I think that you know, anytime we have a new deal, anytime we’re raising money, we’re always very nervous to take any dollar, to be honest, because the worst thing that that I would hate to have somebody that I know or relative, someone in our neighborhood, someone’s you know, so another one of our kids, parents, entrust us with their money and not be able to provide a return on that. So it’s the most rewarding thing to grow together and to make money with your friends and family. But it also puts the pressure on really to perform.
Brett:
Yeah, absolutely. Right. As the tide rises, and you get to do a great job, everybody, everybody wins. And that’s the power of the syndication, right, everyone can put a percentage of their wealth into a deal, sharing the risk, and then also share on the upside. So what are some questions that potential clients ask you, David, and for next wave investors?
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