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.
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Resources mentioned in this episode:
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
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