Investing in 200 Unit Multi Family Apartment Buildings with Ken Gee

 

Episode: Investing in 200 Unit Multi Family Apartment Buildings with Ken Gee

 

Guest: Ken Gee is multi family syndication operator focused on buying & improving complexes in the 200 unit and less B & C market. 

 

Big Idea: The timing & order of renovation of a large multi family asset is critical to the repositioning process.  Spend money on the wrong items, or in the wrong order and your target tenant population will ignore your property.  Investing right will attract them.

 

 

    

Dan Breslin: Welcome to The REI Diamonds Show with Dan Breslin. Your source for real estate investment, Jewels of wisdom.

Welcome to The REI Diamond Show. I’m your host Dan Breslin, and this is episode 196 on investing in 200 unit multifamily apartment buildings with Ken Gee. If you’re into building wealth through real estate investing, you are in the right place.

My goal is to identify high-caliber Real Estate Investors and other industry service providers, invite them on the show and then draw out the jewels of wisdom, those tactics mindsets, and methods used to create millions of dollars and more in the business of the real estate. Ken Gee is a multifamily syndication operator focused on buying and improving complexes and the 200 unit unless B and C markets throughout the United States. Ken and I in this episode discuss the timing and order of renovation of a large multifamily asset and how that’s critical to the repositioning process. Spend money on the wrong items or in the wrong order and your target tenant population will ignore your property, damaging your returns. We also cover Tax Strategies, Market Selection, and how to vet a syndication operator through a third-party financial review. Please enjoy this conversation with Ken Gee.

All right. Welcome to The REI Diamond Show, Ken. How are you doing today?

Ken Gee: Doing great. How about yourself?

Dan: Fantastic. Good time of year here in mid-summer and things are going well. The economy still holding together and stock markets up, right?

Ken: That’s right. Yes, sir.

Dan: At the moment. Cool. So, Ken. Can you give our listeners a little bit of background history? So, what your career was? What has it developed into now in the real estate space?

Ken: Sure. So, my career is actually taken a number of turns over the years. I initially got my finance degree from Toledo, Ohio, and became a commercial lender for 5 years with a small Regional Bank, or well, at the time was small, it’s large now. And then, after about 5 years of that, I decided I wanted to be a CPA. So, with that, I got my CPA license and spent 7 years at Deloitte, in their tax practice, do an MA work. Working with a lot of private Equity Funds, had a lot of fun doing that. And then, at some point here, I bought some Cessna Pilot Centers. Most people don’t make the jump from accounting to flying airplanes, but I did. It was a lot of fun. We owned 3 Cessna Pilot Centers for a number of years, and really enjoyed that business. But all through that time, I jumped into real estate back in 1997, and have not looked back since.

So, it’s all we do now — a hundred percent apartments. We were a vertically integrated real estate company. We do our own investments. We raise money syndications and funds, as well as do third-party management.

 

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

 

Resources mentioned in this episode:

https://www.KRIpartners.com/

 

Ken & I Discuss Investing in Multi Family Syndication:

  • How to Vet an Operators Financial History

  • Interest Rate Risk

  • Priority of Renovation Items

  • The Power of Procrastination Before Renovation

    

Relevant Episodes: (There are 196 Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Passive Investing in Apartment Syndications with Camilla Jeffs

 

Episode: Passive Investing in Apartment Syndications with Camilla Jeffs

 

Guest: Camilla Jeffs is the founder of Steady Stream Investments a company focused on providing investment opportunities in large multi family and senior housing communities.

 

Big Idea:  When investing in syndications, choosing the right Operator is as important, if not more than selecting the right market.  While you’re technically investing in an apartment deal, you’re really investing in the people running the deal.  By this line of reasoning, your ability to select profitable investments hinges on your ability to select people with whom you’ll invest.

 

 

    

Dan Breslin: Welcome to the REI Diamonds Show. I’m your host, Dan Breslin. This is episode one hundred and ninety-five on Passive Investing in Apartment Syndications with Camilla Jeffs.

Camilla Jeffs is the founder of Steady Stream Investments, a company focused on providing investment opportunities in large multifamily and senior housing communities.

When you’re investing in syndications, choosing the right operator is as important, if not even more important, than selecting the right market or asset. While you’re technically investing into an apartment deal, you’re really investing in the people who are running the deal. It’s probably obvious. But by this line of reasoning, your ability to select profitable investments hinges on your ability to select the right people with whom you will invest.

Camilla brings her background, her experience in the corporate HR world, her ability to select professional talent to the apartment syndication investing business. She also acts as a general partner on her deals. We double click on her investment team, selection process, favorite asset classes, and markets to invest and more during this episode.

Let’s begin.

All right. Welcome to the REI Diamonds Show, Camilla. How are you doing today?

Camilla Jeffs: I’m doing great, Daniel. Thank you so much for having me on.

Dan: Yes. Absolutely. I know a little bit about you. But for anybody who may not recognize the name, could you kind of go through – we’ll call it – the origination story?

What did you do before real estate? How did you find real estate? How did real estate investing evolve into Steady Stream Investments in your business model today?

Camilla: Yes. Perfect. I started real estate investing when I was quite young. I got my first property at the age of twenty-two. It was a house hack that we did.

We didn’t know about it. It wasn’t a cool term back then, house hacking. We just figured out we want to own our own place, but we didn’t have enough money to own our own place, basically.

So we bought a home that had a basement apartment in it. We rented it out. It worked out perfect. We only paid about one hundred dollars a month in rent to live there. It even had a pool in the backyard. It was so cool.

 

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

 

Resources mentioned in this episode:

www.SteadyStreamInvestments.com

 

Camilla & I Discuss Passive Investing:

  • Investing in 100 Unit+ Apartment Deals

  • Market with the Most Promise

  • Identifying the Biggest Risk in a Syndication Deal

  • Understanding Whether You should consider Syndication Investing

    

Relevant Episodes: (There are 195 Content Packed Interviews in Total)

 

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.