All Forum Posts by: Robby Sanchez

Hello everyone,

I’m reaching out to this forum because I’m looking for the right financial partner to join me in scaling a proven and successful business in the real estate rental industry.

For the past 7 years, I’ve been actively involved in the home rental market. My journey began with smaller properties, and over time, I’ve successfully grown my portfolio to include an apartment complex and several multi-family homes. These properties are fully operational, generating steady cash flow, and managed efficiently to maximize returns while maintaining tenant satisfaction.

Now, I’m ready to take the next step: scaling the business to acquire larger complexes, expand into new markets, and diversify the portfolio further.

@Robby Sanchez Calling property managers who know the market(s) that you're looking in will produce the best results.  Keep in mind that a rule of thumb is simply a rule of thumb.  It doesn't mean that every property will fit that rule of thumb.  Too many people get caught up in this thought when they underwrite deals.  Also make sure that you're using 
"per unit" numbers for your rules of thumb because this is much more accurate than simply looking at the expenses as a percentage of the property's income.

Hello all,

I am trying to do my first deal/buy my first MF property but I haven't been able to move the needle.

I am focusing on Small MF (2-4 units), with a value-add strategy. I have been cold calling direct-to-seller and working with brokers to find deals.

I don't understand how properties, in East Boston, for example, are trading at around 5.3 cap when rates are around 6.5%. I was cold calling an off market property and the guy laughed at me because I asked if he would take somewhere around an 8 cap (obviously i didnt say this, I gave him a ballpark number) and he shared with me that these properties are trading at 5.3 cap. I just dont understand how people are buying at such low caps ? Aren't they losing money? Can someone please explain how transactions are being made? (other than the seller financing stuff because I've asked and nobody seems to be interested)

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 Took me about a year. But the classes are at your own pace and some states don't require a liscence. 

 How long did it take for you to become a licensed inspector?
I considered encouraging my son to do that.

@Don Konipol @Joe S. @V.G Jason @Chris Seveney @Nicholas L. @Stuart Udis @Robby Sanchez @Nick B. @Charles Seaman

Thank you all for the feedback! I truly appreciate it.

I want to reword my thoughts:

I now know I can't just raise millions of dollars because I want to. I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.

Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.

However, and this is where I start overthinking,  I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal. Now, I am currently interning with a boutique developer in Boston focused on multifamily and my plan is to not only learn from them but also try and do my first deal in partnership with them. So i'll either find the deal or find the money.

What do you guys think of this?

Am I rushing too much? The thing is I've been learning about real estate for almost 2 years and still haven't bought my first property and it's driving me insane . And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible.

@Lorenzo L.! I'm in a similar step in my multi family journey currently. Have you listened to the multi family wealth podcast? The host is based out of Boston! That podcast has so many gold nuggets and great advice. As far as finding deals, my plan is to start a mailing campaign and go the wholesaling route. I recently was able to find a great mentor who was willing to mentor me with underwriting amd alot more. My plan is to find him great deals and build up enough capital to invest in my own deals. Keep in touch and let me know what happens! Good luck!