From a Triplex to 308 Units of Commercial Multifamily - with Justin Elliott | TLS082

In this episode, Justin Elliott talks with us about his experience investing in a triplex and a duplex and then transitioning to large commercial multifamily and the challenges and wins he's experienced along the way. He shares some great strategies and tips about how to get in on your first commercial multifamily deal. 
 
>>>Interested in partnering with us on future opportunities? Connect with me at CanovoCapital.com.

WE DISCUSS:

• Justin's background in the corporate world and his experience in the medical device sales world. 
• His transition into real estate and buying a triplex. 
• His frustrations and challenges of managing his triplex. 
• How he refinanced his triplex and bought a duplex. 
• Why he started to think about doing bigger real estate deals. 
• The importance of finding a mentor/partner that has more experience to help you through your first couple deals. 
• The importance of learning how to underwrite commercial multifamily. 
• How he started to build his investor network. 
• How he found his first commercial deal (a 29 unit apartment building)
• What his role was in the first deal.
• We dive into the details of his 29 unit in Augusta Georgia in the summer of 2020.
• His biggest mistake
• His biggest win
• His best advice for someone just starting.

KEY QUOTES:
"Figure out where you'd be valuable and go bring it to a GP team"

ABOUT OUR GUEST:
Justin graduated from Miami University with a degree in Finance.  After college, Justin spent 10 years working for a Fortune 500 service company where he became a General Manager with complete responsibility for growth and profit in Maple Grove, Minnesota.  Since then Justin has been a top rep selling Medical Devices and has started two successful sports marketing companies.  

Justin began investing in multifamily in 2016.  In his first two deals, Justin was able to increase the value of his assets by 40% providing a great transition into real estate.  Today Justin owns 228 apartment units and focuses on real estate syndication finding high yield passive deals for people looking to diversify from typical Wall Street Investments. 

CONNECT WITH OUR GUEST:
www.elliottmultifamily.com
Elliott's Meetup

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