Tue, 14 August 2018
What is the quickest route to financial freedom through real estate? Do not pass Go. Do not collect $200. Go directly to… Multifamily. But how do you overcome a lack of experience and capital to accelerate the timeline and jump straight into apartment building investing?
Josh Eitingon is the founder and manager of JAE Property Group, a real estate investment company specializing in 50- to 150-unit value-add multifamily properties outside the New York metro area. With the guidance of a coach, Josh made his first multifamily investment in 2012, and now he is up to eight deals. He began his real estate career while working as a software developer, eventually joining a Long Island investment group where he led the acquisitions team in securing $100M in real estate. Today, Josh is a full-time investor in his own right.
Josh joins me to discuss the early investment in a coach that facilitated his shortcut to multifamily. He addresses how he overcame a lack of experience to do his first 20-unit deal and the personal guarantee he made investors to raise $200K for the renovation. Josh explains what he loves most about multifamily investing, describing the challenge of finding a formula to optimize each new property. Listen in for Josh’s advice around investing in your own deals, choosing the right location, and scaling up a multifamily business.
How Josh got started in real estate
Why Josh invested in a coach
Why Josh went straight to multifamily
How Josh overcame a lack of experience and money
How Josh overcame his reluctance to do the first deal
The factors for success on Josh’s first deal
How Josh raised $200K for the deal
The additional risk of raising money in debt
How Josh’s first multifamily deal played out
Josh’s subsequent multifamily investments
What’s next for Josh
What Josh loves about the business
The challenges of scaling a multifamily business
Josh’s advice for aspiring multifamily investors
Josh’s AHA moment around location
Josh’s top mistakes
Connect with Josh
Free eBook: The Secret to Raising Money to Buy Your First Apartment Building