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 syndicating 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? 

Do You Think they’d Also Enjoy this Episode?

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Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

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

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?

Share the link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

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

Recent Popular Episodes

 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.


Leave a Reply & Remember to Mention Your Geographic Market.

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

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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Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

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


Leave a Reply & Remember to Mention Your Geographic Market.

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

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?

Send them this link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

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


Leave a Reply & Remember to Mention Your Geographic Market.

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

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?

Send them this link and tell them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out 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?

Leave a Reply & Remember to Mention Your Geographic Market.

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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Are Turn Key Rentals a Hot Product in YOUR Market?

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TRUMP STYLE CHRISTMAS

This is the year of Happy Holidays.  2015 was a great year for the Diamond Equity Investments team.  We welcomed new partners, new buyers, & many new wholesalers in Chicago, Philadelphia, & Tampa.  The economy is stable, if not, growing, and the general feeling is that things are good in real estate again.

I’m celebrating the good times with a Trump Style Christmas:  

  1. Helicopter ride to check out the Chicago Christmas lights, check.
  2. Big huge pile of Christmas presents for friends and family, check.
  3. Drones for the upcoming drone show, check.

Now I just need to build a few buildings and put my name on the side-in the most prime pieces of real estate that exist in the country.  A man must have a strong vision of the future to wake up and work as hard as I do, right?

Will the Good Times Roll through 2016?
This is the big question on everyone’s mind.  I’ve invited Paul Sloate, an economic forecaster & financial advisor to high net worth individuals, to give his prediction for the state of Real Estate in 2016.  Keep an eye out- this episode will be published early in January.

Lessons I’ve Learned in 2015
2015 was a big year for me personally.  I’ve had a few new life experiences and watched as my business has taken flight to new heights-thanks to people like you who continue following our progress, buying & selling deals with us, lending us money, & just being here and a part of the Diamond Equity Investments family.  You’re appreciated.

1. How to Be a REAL Dad-Up until this year, my daughter lived in Chicago; 700 miles away from me back in Philadelphia.  As a result of a few key people joining my team-Jon Potter, George Beatty, Howard, & Craig-I was able to move to Chicago and finally become a real Dad.

Before the move, being a father was a part-time, few times per year piece of my life.  When she visited at holidays, and over the summer, I could try being a dad.  It was great that I could have her in my life then.

But now  that I’m here, I am just 15 minutes up the road from where she lives with her mom.  She comes over on the weekends and I see her 5-6 days per week.  Because I’m now present, I’ve learned quite a few lessons in fatherhood and am blessed to finally have a much more fulfilling & active presence in her life.

2. I Don’t Need to Physically SEE Houses to Make Deals-For a long time, I believed that I needed to see every house in order to make the deals.  Once I opened up my mind to invite other people to participate in my deals, my vision and my ability to work many more deals exploded.

In the beginning, I didn’t want any partners.  I thought I could do everything myself and didn’t trust other people to get the job done.  Thank God the RIGHT PEOPLE came into my life and I learned to trust & guide them to better results.  They have also brought their high intelligence to the table and guided me to better results.  I guess I finally understand Napoleon Hill’s mastermind principal.  The efforts of multiple people committed to the same cause creates a multiple of the results, not a sum.

3. The True Value of High Caliber People-This year I’ve been blessed to forge new
relationships & even realize some relationships I’ve had with High Caliber people.  I used to think of everyone as though that had equal capabilities.  As though with a little guidance, anyone could become a great performer in their field.

Now I realize that the great people in my life MADE A DECISION TO BE GREAT.  It didn’t happen by accident, they built their skills, networks, and abilities to the degree which they are now considered great.

This is very rare in the world-to find truly great people.  Now when I meet a high caliber person, I do my best to add value-to bring something to the table-in order to build my relationship with that person.

In the past, I am embarrassed to admit, I used to think that the only thing I needed was private money.  It was always the burning question in my mind-“Could this person fund my deals?”  How crass.  Now the question burning in my mind is “How Can I Add Value, or Do Something to Help this Person become Even More Successful?”  Which brings me to my next lesson:

4. The Power of Tithing-I learned the power of giving away money years ago.  At a mentor’s suggestion, I donated money to church & charity-even bums on the corner.  This was supposed to be a signal of prosperity to the Universe-“I have so much money that I can give it away freely-with no fear of running out”  It was also taught to me that I would receive the money back in another form.  Like the donation was a seed and the harvest was the return-of that donation-by God.  And that’s exactly what happened.  I donated $300 and low and behold-I receive an unexpected check for $10,000 on a deal I was working.  A check that wasn’t due to me for another 8 months!!

This year I learned the power of giving my time, energy, & information.  The power of giving value.  This is why I created the REI Diamonds Podcast-to create more prosperity within the REI Diamonds family.  I am constantly receiving feedback thanking me for the great advice, tips, & strategies that are discussed on the show.

I sell nothing on the Podcast.  My guests and I are freely giving away valuable information-like a tithe.  As a result of the Podcast, I’ve been contacted by several high caliber successful people and built relationships as a result.

People contact me about funding my deals using their IRA accounts/investment accounts as a result of hearing the REI Diamonds Podcast.  Interesting how that works-I used to look for people to fund my deals, and now that I look for ways to add value to as many people as possible, the people who fund my deals come looking for me.

It’s been the Year of Happy Holidays!!
The one size fits all, politically correct statement for this time of year.  Happy Holiday’s & Happy New Year 2016.  May your Holiday Season be filled with Joy, Prosperity, & Peace and you Achieve ALL of Your Goals in 2016!!  Thank you for being a part of the REI Diamonds family!!

-Dan Breslin

P.S.-Below is a Short Clip from the Trump Style Heli-Ride over Chicago.  ( I know-Donald Trump’s  Helicopter is a whole lot nicer-but the views were absolutely stunning !!)

P.P.S.-Ready to Download “Become a Wholesale Real Estate Master”?  The download
instructions are in the Atomic Buyers List Audio.  Go to www.AtomicBuyersList.com & listen to the audio to claim your copy now.  Limited to 25 downloads-not trying to create too much competition!