All Forum Posts by: Adam Lacey

@Germaine Valladares I would start by educating yourself on the multifamily space as much as possible and network with people that are doing deals that you would like to be doing. Once you have the knowledge and a few people that are willing to work with you, you need to bring some value. Finding a deal to partner on or bringing investor capital are probably the two most common ways to get experience investors to bring you into a deal.

@Anthony Torres welcome to BP! There are a ton of different strategies in real estate investing and I explored many of them before deciding to focus on multifamily. For me it came down to the scalability, economies of scale and I saw MF investing as the quickest way for me to leave my W2. I also looked at it this way, I knew I wanted to be in the MF space eventually, so why not put all my efforts into focusing on that from the start.

Not saying thats right, just what I chose. Message me if you want to discuss more. Id be happy to share what I've learned so far.

@Sitaram Koppaka I have spoken with Jim. I have never worked with him so can't vouch for his PM, but can say that he seems like a really good guy and a straight shooter. He has been very helpful in making connections and answering questions. Good luck!

@Jason Turgeon, @Bill B., @Lynnette E., @Nicholas Valente, @Blaine Alger Thank you all for the great responses. There is definitely a lot to consider. Our concept would be to supply the hood, sink, counter and the tenants bring their own equipment. We would help with marketing, online ordering and possibly our own delivery service if the demand is there. I'll let you all know if we decide to pursue.

@Sitaram Koppaka contact Blue Vista. The owner is an investor herself that created a PM company because she was fed up with the lack of good management on her own properties.

Anybody have any thoughts on ghost kitchens (or micro kitchens, virtual kitchens...etc)?

I've been looking into opening a space with 6-8 ghost kitchens (300-400 sf kitchens built for takeout/delivery only). They were trending strong before Covid and now the market seems to have even more demand. Thoughts on the long-term Outlook?

Thanks.

Definitely surprised that Syracuse made this list. That's great for a few upstate NY investors that I know.

@Klint Ruud, If he wants to be an active RE investor, I would consider spending a chunk of it to hire a mentor/coach and then use the remaining to invest once the education and coaching have been curated.

I'm all for investing in yourself and education first.

@Eric Van Deman can you message me that attorney's info as well?

@Jeffrey Donis I agree with your approach, but I would start to make those connections as soon as you can and not wait until you have a good deal. I would pick a few markets (1-4?) and start networking with other investors in those markets that are doing deals similar to what you want to be doing. Find out their criteria (unit count, price, class, value add or turnkey...etc) and bring them deals that match that criteria. I would also make sure expectations are clear. Make sure that they will allow you to be involved in the aspects of the business that interest you.