Mon, 9 July 2018
Whether you are looking to become a multifamily syndicator or money raiser, it is difficult to get your foot in the door if you’ve never been involved in a deal. So, how do you build a resume without any experience or capital to speak of? The answer lies in partnerships with someone who’s done it before!
Danny Woodford is a Managing Partner at Mission Bay Investments, a multifamily investment firm with properties in the Mid-Atlantic, Southeast and Texas markets. Mission Bay is focused on value-add opportunities of 100-plus units, and the firm has closed on five deals of nearly 1K units to date. Prior to real estate, Danny served in the military, working to develop the space capabilities of the United States. He holds a master’s in real estate development from George Mason University.
Today, Danny joins me to explain what inspired him to retire from the military and pursue real estate. He walks us through his initial single family business model and the AHA moment that motivated his transition to multifamily. Danny offers the details of his first two multifamily deals in Richmond, Virginia, sharing the reasons why he continues to source deals despite the challenging market. Listen in for Danny’s insight around bringing a deal to a potential partner and learn how to build your multifamily resume by teaming up with someone who’s been there!
What inspired Danny’s shift from the military to real estate
How Danny found the time to get educated in real estate
Danny’s initial business model
Why Danny made the transition to multifamily
Danny’s first multifamily deal
Danny’s second multifamily deal
Why Danny is finding deals despite a challenging market
The value of partnering as a money raiser
Danny’s advice for aspiring multifamily investors
How to bring a deal to a potential partner
What Danny is looking for in money-raising partners
Connect with Danny
Call (661) 816-0335
Direct download: MB_119_-_Building_Your_Multifamily_Resume_Through_Partnerships__With_Danny_Woodford.mp3
Category:Commercial Real Estate -- posted at: 2:19pm EDT