EP140 How The Power of Persistence Helped Them Close on a 144-Unit Apartment Building with Justin Richards and Aaron Lenartz
By the time you listen to this episode, Justin Richards and Aaron Lenartz will have closed on a 144-unit Class C Apartment Building in Memphis Tennessee. And they'll have raised $1.3 Million from investors to do so. I thought it would be interesting to sit down & talk with them about what they went through to find, inspect, and acquire this property while its fresh in their minds.
What you're about to hear is the nuts & bolts process from two investors and syndicators who have learned a great deal from the experience of closing their first large apartment syndication. We'll talk about the importance of broker relationships, Best & Final offers, what it means to be a lifestyle investor, working with attorneys, and securing a bridge loan to complete necessary repairs.
You'll also learn how Justin and Aaron were able to be taken seriously as investors even though they'd never closed a deal this large. They also share the process they went through to raise $1.3 Million from qualified investors, as well as the amount of their own money they had to put up along the way.
Justin and Aaron host a meetup group every third Wednesday of the month at the Buffalo Wild Wings in Wyoming, MI on 44th Street. Their next meetup is this Wednesday, September 19th, 2018 at 5:45. You can find out more information by going to https://www.meetup.com/Think-Multifamily-Real-Estate-Investing/events/253982654/
And you can contact Justin and Aaron through their website: