All Forum Posts by: Chris Salerno

I am interested in acquiring self storage business. Looking for leads, pros, cons and financing information.

Hello all! I am a managing member of a multi-member LLC that currently invests in SFHs using a BRRR strategy. We are early in our business life but also have full time jobs that we are contractually tied to long term, so we can't drop everything and focus 100% on growing the business. However, that all starts to change in the next 5 years.

Our long term goal is to focus on syndicating 100+ unit multi-family deals and capture both syndicating fees as well as have equity stakes. In 7 years, we would like to lead a syndication as General Partners. I think our strength is that we will be able to bring cash to the deals. Our focus on executing a BRRRR strategy now will produce the net worth that we can leverage later for these syndication deals.

What advice would you give us to get ready to transition from SFH investing to syndication from now thru year 5? I know having cash available will be key, but can't be our only strength if we want to lead deals. What skills to learn, networks to build, and experience to gain would help round us out and set conditions for success? Thank you for your advice.

Fully gutted 12 unit apartment - I don’t live close by and will not be able to babysit the project. Is this an investment I should jump into? Has anyone hired a GC to do a project that you won’t be able to be there? Does anyone know how much the following work would cost?

About the property:

It is selling at $185k and after it is fully finished, it would be worth $400-500k. It is fully gutted as in no walls, heating, plumbing or electric. It’s 8k sq ft 13 bedrooms.

@Chris Salerno My business goals for 2020 are:

-$50M in MF volume 

-Speak at 4 large live events

-Write a book

-Surround myself with at least 5 people who are doing bigger things in multifamily than I am

-Hire at least 1 full time employee

-Create enough income for my wife to leave her full time W-2

I’m looking to GP at least 4 deals with a $37.5 Million dollar value in 2020 and continue to KP for others and more LP investing. 

Good morning everyone! I hope everyone has had a great holiday season up to this point and continue to do so up through the new year. As I sit here and reflect about accomplishments, people I’ve met, and all things that have happened in the past year I can honestly say I never would have imagined I’d be where I am now. Of everyone I have connected with one common denominator of their success has been the importance of having and writing down clear goals and having a clear vision of the future you want to have. Something that helped me tremendously was the BP Intention Journal. I’ve always written goals down however it wasn’t until this journal that I started being intentional about daily tasks and goals to make sure I’m being productive as opposed to simply busy  

This year I’ve come up with two separate lists of goals for the year, one of which being personal goals and the other being real estate/ business goals. With that being said I want to list a few of my real estate goals for 2020:

1.) Purchase a duplex or a SFH we can convert into 2 units here in Fort Wayne, IN to househack for the next year or two. My future fiancé (she doesn't know when I'll be proposing this spring :) ) and I have sat down and come up with our goals for the year and decided this would be a great way to lower our expenses as we save up some more capital for both of our business endeavors.

2.) Read atleast 30 books. I hadn’t thought to read more this year until October of this year and was able to get through 12 so I figured why not aim for one a week? A quote I admire is “An investment in knowledge pays the best interest.”

3.) Help Syndicate/ Raise capital for 3 deals with partners. This coincides with a goal I have listed below with respect to building relationships with private lenders and passive investors.

4.) Build relationships with atleast 5 Private lenders/ passive investors. I will continue to strive to build meaningful relationships with other investors. I look forward to connecting with other like-minded individuals over the course of the next year and if possible helping one another get one step closer to our goals.

5.) Help 10 people reach one of their goals this year whether it be a personal goal, financial goal, or real estate goal. I believe having someone to help hold you accountable to your goals is incredible and can inspire you both. Any chance I can help add purposeful value to others, I gladly will and look forward to it!

This past year has been entertaining and full of surprises and continued clarity. I’m excited to start the new year off and get the ball rolling early in the new decade! What are some of your goals for the next year whether it be growing your current portfolio, transitioning from SF to MF, or learning how to make your business more efficient?

I’m interested to hear some of your goals as well!  @Yonah Weiss @John Casmon @Michael Ealy @Michinori Kaneko @Felipe Mejia @Danny Randazzo @Chris Salerno @Ben Grotzke @Abel Curiel 

@Chris Salerno one of my goals for 2020 is for @Adam Balsinger and I to do a deal with you.