Axel Ragnarsson
@multifamwealthMultifamily investor/operator | 500+ units. Active investors can buy our "7-Day Multifamily" program and passive investors can join our investor list below:
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My episode on the @BiggerPockets Multifamily Mentors show went live today, check it out! Such a great experience to go from learning the basics of REI on BP over 6 years ago to coming on the show and talking about how we’ve grown to 300+ units. #retwit Link in thread —>
Why New England is the best
My experience of rejection in regions of the US: •California: Nobody says no. They just go quiet on you. The "West Coast No." •Northeast: They tell you no to your face, then tell you to go F yourself. •South: They tell you yes, smile broadly, then never hear from them again.…
The CEO: multifamily investors The armor: Their PM company
Body armor company demonstrates their stab protection on their CEO
Building a robust pipeline of deals is challenging in the beginning because no one is bringing you deals. You have to scrape and claw to get the first few deals done, but once you’ve got a few closed, people know you and start sending you deals… and it compounds from there.
Fun to do this every once in a while, as it shocks non-northeast investors. Ages of properties we’re under contract to buy right now: - 1880 - 1900 - 1895 - 1980 Funny to think many investors consider 80s construction as “older”, when it feels new to us (and residents)
Great interview with @credealjunkie coming the second week of September. Andrew has extensive experience in multiple facets of the multifamily sector (and is a great twitter follow)!
First podcast appearance yesterday, really enjoyed it! (and only sweated through one shirt) Thank you @multifamwealth for the invite - great conversation and looking forward to the episode dropping in a couple weeks.
I’m always alarmed at how often investors’ are surprised to discover how we find deals.. “can you actually find multifamily deals direct-to-seller?” We’ve done 33 deals DTS in the last 3 years (275+ units). We just signed a 72-unit from a mailer. It’s more than possible
The more a sponsor/GP discusses macroeconomics when marketing a deal, the less an LP should be interested. Need to communicate the deal, biz plan, market, and ability to execute. If you see “buy land, they aren’t making anymore of it” in a deck, the deal should be an auto-pass
In real estate, there is an inverse relationship between how much time you spend in excel and how much money you make
Please take note. I’ve received at least 15 DMs saying “you don’t understand how important modeling is” It doesn’t matter long term
“A personal identity” Yeah that should pay the bills
This is the fundamental issue with most people’s rent vs. buy analysis. Yes, you’d have spent the same money, and wouldn’t have accumulated equity. However, you’re leaving out $$ earned by investing the down payment vs. tying up $$ in a house, not to mention transaction costs.
Alternatively, if you were renting for 3 years, at $2,000/mo, you'd still have spent $72,000, and you have zero principal pay down, and zero equity growth.
A periodic reminder that 80%+ of successful multifamily operations is driving and managing revenue (minimizing vacancy, maximizing income). Considering the majority of your expenses (taxes/ins/contract services) are fixed, increases in revenue drop straight to NOI.
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Who to follow
-
CRE Cole
@cre_cole -
Jason Richards
@SimpleCRE -
Ryan Auger // Industrial & Storage
@redwood_ryan_a -
Babak Ziai
@BabakZiai -
Michael Lewin | CRE
@LiferRealestate -
Jonathan Barr
@Jb2Investments -
Jaret N. Turkell (Deal Crush)
@JaretTurkell -
Dylan Marma
@DylanMarma -
Mason Fiascone
@MultifamMason -
John Plumstead
@johnplumstead -
Alexander Pryor
@_apryor -
Perry Solem
@PerrySolem -
Nick Keesee
@Nick_Keesee -
Ground Up Grind
@groundupgrind -
David Ellebrecht
@davidellebrecht
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