Joe Fairless Pod Cast

Trevor Mcgregor -recommended by Joe Fairless

JF1312: Apartment Syndication Advice To My 22-Year-Old Self #FollowAlongFriday - by Joe Fairless

. . .

Just listened to another Youtube interview where Joe Fairless was talking about how his deals work:

• Looks for a 5 year internal rate of return of 20% to partners.
• 8% preferred return to investors
  
• last deal $5k per unit fix up
• Rent increase $75 per unit after fixup
• Wants a stabilized apartment 1980 or newer
• with a value add component

To get started Joe says the steps are:

• Education, establish a foundation
• Set your goal
• Get good at underwriting deals
• identify 1 or 2 markets
• Build your brand with investors with your website, business cards, logo
• Start investor conversations
  
• Get verbal commitment of interest for 130% of the money you need because some will drop out
• Look for deals
• Build relationships with brokers
• Run the numbers on 100 properties
• Start making offers
• Do your due diligence
• Close on property
• Do Asset Management - he visits once a month even out of state