100+ Unit Apartment Syndication with Stephanie Walter

 

Episode: 100+ Unit Apartment Complex Syndication with Stephanie Walter

Guest: Stephanie Walter is the Founder & CEO of Erbe Wealth.  Stephanie began investing in single family homes in Colorado while owning & operating her insurance agency business.   She has since exited that business and sold all of her single family rentals to focus solely on larger commercial real estate syndication deals.

Big Idea:  Recognizing the Opportunity to Sell Appreciated, Low Cash Flowing Deals and Transitioning to Larger Apartment Syndication Deals. Stephanie and I discuss her decisions to exit both single family rentals AND her insurance agency business to focus solely on larger, less active-truly passive commercial real estate deals.

 

 

    

Dan Breslin: Today’s guest Stephanie Walter is the founder and CEO of Erbe wealth, Stephanie began investing in single-family homes in Colorado while owning and operating her insurance agency. She has since exited that insurance agency business and sold off all of her single-family rentals to focus solely on larger commercial real estate syndication deals. Today we are going to dive deep into those decisions, her investment selection process, and a few big recent wins, and of course, an upcoming deal. So let’s get started. So I did a little research on you and your background, and I figured that we could begin with your sale of the insurance agency, what led up to that what your thoughts were, how you emotionally changed chapters, let’s say, and then got on to the next place that you currently are.

Stephanie: Yeah, well, I’ve had my agency since 2006, so about 16 years. And before that, I was actually an insurance adjuster for eight years. So my whole working life, I’ve been involved in insurance in some way. And I do love it. But I also love real estate. So I used to buy and hold single-family homes and really, really loved doing that and actually became more curious. In 2016 I joined a group of people that do some education, great education, about kind of how to buy larger commercial properties through syndications. And that was in 2016. And from there, there was really no looking back I found a partner and group of people I like to work with and found that I really liked raising money. And from that just ended up working with a lot of really wealthy people and learned a lot from watching the way that they handled their finances and started changing the way that I was viewing my finances and 2018 started selling off my single-family rentals and investing that money into these syndicated deals where we were getting double-digit returns and that allowed me to replace my income in the matter of a little over two years. I sold my agency and December 2020 and so now I’m retired but I am still raising money occasionally once or twice a year for a deal and I like to talk to people about kind of changing their views on money because it was life-changing for me. Because I’ve been able to retire and now I can spend a lot more time with my family.

Dan: Congratulations on the sale. That’s pretty cool. I imagine that must have been… I don’t know. I mean, was it a decision brewing for a year, six months? Did you just wake up one day and say, “Hi, we got to get going here.” This is too much weight. Was it the daily responsibility of you running and managing a team? What was it that led up to the sale, I guess?

Stephanie: I like to work a lot. I’m a nerd that way. But so I really like what I was doing. But as I continue to invest in these deals, and the money came in, and eventually it replaced what I was making in my insurance agency, all of a sudden, I was like, well, it would be nice not to be having to work every day and not having and being able to take a vacation. I hadn’t taken like, over a week’s vacation since 2006. So then, my eyes were opened a little bit more. And it was a little bit emotional to sell it. But, this is the direction that I’m going. And I really love helping people get into these syndicated real estate deals. And but yeah, it definitely was emotional. Because you get very close to your clients over 16 years. And just kind of that’s your identity.

 

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.ErbeInvestmentGroup.com

 

 

Stephanie & I Discuss Commercial Real Estate Syndication:

  • Owning, Operating, & Exiting 100 Unit+ Apartment Deals

  • Luxury Single Family Home Development

  • Exiting a Successful Insurance Business

  • Exiting Single Family Rentals for Larger Deals


    

Relevant Episodes: (There are 190 Content Packed Interviews in Total)

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

Investing in Multi Family Properties-150 to 300 Unit Deals with Chris Larsen

 

Episode: Investing in Multi Family Properties-150 to 300 Unit Deals with Chris Larsen

Guest: Chris Larsen is the founder & managing partner of Next Level Income. He’s been investing in multi family property deals since 2016 and raised more than $15 million over $150 Million in acquisitions.

Big Idea: Buying High Quality Assets when No One Else Wants them Can Generate Huge Wins. Chris’ company is focused on identifying high yield passive investments ranging from real estate to oil & gas leases.   Specific to oil & gas, Warren Buffett recently amassed a HUGE position in Chevron leveraging this same principal.  Everyone was selling off oil due to the Pandemic and the coming of electric cars.

Big money can be made if you know what you’re doing.  On this episode we discuss this principal as well as dive into his asset selection process, favorite multifamily markets, & some risk mitigation strategies that served Chris well during the recent pandemic.

 

    

Dan Breslin: Chris Larson is the founder and managing partner of Next-Level Income. He is been syndicating multifamily property deals since 2016 and raised more than $15 million over $150 million in acquisitions. Chris’s Company is focused on identifying high yield passive investments ranging from real estate to oil and gas leases. All in this episode, we dive into his asset selection process, favorite multifamily markets, and some risk mitigation strategies that served Chris well during the recent pandemic, as well as some other topics. Let’s get right to it.

All right, Chris Larson. Welcome to the REI Diamond show. How are you doing today?

Chris Larson: Dan, I am great. I am excited to be here with you. Thank you.

Dan: Nice. It is always looking forward to this high-volume multi-millions of dollars raised and you know conversations I get to have with guests like you, but you know for anyone who does not know your name already maybe does not know about your podcast. You kind of want to talk about maybe the evolution of your career, starting with let’s say you are first deal and then ending with your current business model Chris.

Chris: That sounds great. So I love real estate, I set off to be an investor when I was really a teenager. It is kind of a long story short. I race bicycles. I started racing when I was 14, and I will never forget that feeling of freedom I had when I first left my neighborhood on my bicycle. And it really instilled in me this ability to kind of go where I wanted to and do what I wanted, and when I was younger that meant racing my bike. And I got my driver’s license, I was excited to get my driver’s license so I could drive to races outside of the state. And so I was traveling, when I was 16 years old, up and down the East Coast across the country, and plans raced even at a national level. Until I was in college, and at that point, I want to be a professional cyclist.

I went to Virginia Tech I was doing an engineering degree and no I did not want to be an engineer, but I also did not want to be poor. And if anyone knows anything about cycling, they know those bike racers are pretty poor unless you are racing in Europe, which is a very very small portion. You just do not make a lot of money, like a lot of professional sports. So I was entrepreneurial. I would do different things in college, but I quit cycling after my best friend, my training partner my roommate, passed away. He had a massive brain hemorrhage. And spend another year kind of poured my heart and soul into the sport, but I realized I was not happy. I still wanted that sense of freedom and I thought well, I am not going to race my bike anymore. I am not going to be an engineer, What am I going to do?

I started day trading in the stock market in the late 90s, which there are a lot of similarities today Dan, in my opinion between the market than in the market now. This is very exciting also very stressful. So here you take a junior, 20 years old in college making $5,000 a month day trading but could not sleep at night. And one morning at 3 a.m, I just remember thinking, what the hell am I doing? And I start, I kept reading books. I have always been an avid reader and I started learning about real estate.

 

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.NextLevelIncome.com

 

Chris & I Discuss How to Avoid Capital Gains Tax:

  • Multifamily Property Market Selection

  • Upcoming $100 Million Deal

  • The Power of Purpose in Your Life & Career

  • Reasons Why Larger Deals Offer More Control


    

Relevant Episodes: (There are 187 Content Packed Interviews in Total)

 

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

Financing Million Dollar Deals Post Covid with Anton Mattli

David & I Discuss:

  • Post Covid Commercial Real Estate Market

  • How this Compares to 2008

  • Deals which are Difficult to Now Finance

  • How Underwriting will View Your Deal


Listen Now:

Google Play

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Relevant Episodes: (There are 163 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.PeakFinancing.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

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REI Diamonds Show with Abhi Golhar on Attracting Off Market Deals & Scaling to Larger New Construction Tract Developments in Atlanta Georgia

Off Market Deals

Abhi & Dan Discuss:

  • Adjusting Your Buy Formula Depending on the Market (You’re Probably Doing the Opposite Right Now)

  • Finding a 92 Unit New Construction Development Deal

  • Easiest & Often FREE Method for Building Deal Supply Pipelines in Your Market

  • Why Atlanta is Currently the “Perfect Storm” Market for Growth

 


Listen Now:

Resources Mentioned in this Episode:

Real Estate Deal Talk Radio-Abhi’s Radio Program

www.RealEstateDealTalk.com

Do You Know Anyone Else Who’s a Real Estate Investor?  Or Trying to Become a Real Estate Investor? Do You Think they’d Also Enjoy this Episode?

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Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

REI Diamonds Show with Dave Lindahl on Multi-Family Investing in Emerging Markets

Multi-Family Investing

Dave & Dan Discuss:

  • Timing the Real Estate Market

  • Selecting the Right U.S. Market at the Right Time

  • Vacant Apartment Complexes-Worth the Time & Effort?

  • Best Markets in the U.S. right now & Why


Listen Now:

 

Mentioned in the Show
“Ultimate Partnering 8”  Dave’s event in Boston (I’m attending August 19-21)

www.UltimatePartnering8.com

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REI Diamonds Show with Kathy Fettke on Market Cycles, Private Lending, & Land Development

Emerging Market

Kathy & Dan Discuss:

  • 3 “Must Have’s” of Selecting a Winning Market

  • Government Manipulation of the Market

  • #1 Thing to Offer to Mentors GUARANTEED to Get their Attention (NOT a Check)

  • For Married Investors-How to Navigate the Start-Up with Your Marriage in Tact


Listen Now:

Resources Mentioned in this Episode:

More Info at www.RealWealthNetwork.com

Recent Popular Episodes

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REI Diamonds Show with Michael Freedman on Verifying, Reducing, or Even Eliminating Flood Zone Designations on All Kinds of Real Estate

Single Family Homes

Michael & Dan Discuss:

  • How to Remove a Property from a Flood Zone without Moving the House

  • Correcting Flood Policy Premiums & Why No Agent Does this

  • Dealing with Blackstone on Single Family Homes

  • How to Get a Free Evaluation of the Current Flood Zone Designation Status


Listen Now:

Resources Mentioned in this Episode:

More Info at www.AmeriFloodSolutions.com

 Recent Popular Episodes

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REI Diamonds Show with Phil Falcone on How to Become Rich in Commercial Real Estate

Commercial Real Estate

Phil & Dan Discuss:

  • Cap Rates & How they Affect Price

  • Thinking About a Piece of Real Estate as a BUSINESS

  • Changing the Rules of Monopoly & then Playing in Real Life

  • Knowing How to Identify a REAL DEAL


Listen Now:

Resources Mentioned in this Episode:

Sign up for free at his website www.Addicted2realestate.com

 Recent Popular Episodes

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John Cohen on Real Estate Financial Planning & Large Multifamily Properties

Multi-Family Properties

John Cohen & Dan Breslin Discuss:

  • Transitioning from Single Family to 100 Units + Multifamily
  • Raising Money the RIGHT Way
  • Hedging Against Interest Rate Risk
  • Business Model for a $10 Million Multifamily Deal

Listen Now:

More Info About John Cohen at:

JC Property Group, INC

www.JCPropertyGroupInc.com

Recent Popular Episodes

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What Effect Will Interest Rates Have on Your Real Estate Investing?

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Mark Ainley on Pulling Back the Curtain of a High Volume Turn Key Rental Business

Turn Key Rental

Mark Ainley & Dan Breslin Discuss:

  • EASY Tenant Application Verification “Silver Bullet”
  • Choosing the “Right” Blocks to buy (in ANY City)
  • Breaking into the Industrial Brokerage Space
  • 5 Components of a Turn Key Rental Business

Listen Now:

More Info About Mark Ainley at:

GC Realty & Development

www.GCRealtyInc.com

www.GCRealtyInvestments.com

 

 Recent Popular Episodes

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