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Summary
Whether you’re just about to start investing in multifamily or are in your first few months, Chris Pomerleau has some golden advice to offer you on this week’s episode. Find out more about our investing opportunities here www.vonfinch.com/invest
Chris Pomerleau is a family attorney turned real estate syndicator and coach. He entered the real estate industry by investing in single family homes, but later realized the bigger potential in multifamily assets. For years, he worked hard to scale the business, and today, he has over $80 million of assets under management and co-owns Park Ave Capital LLC, a successful multifamily asset firm.
Like many other investors, Chris shifted his career to real estate because he wanted to create more value for the time that he puts into work. And like a lot of our listeners here, he didn’t know much when he started investing in real estate. But with his own experience in the industry, he tells us what we need to know before investing with multifamily syndication.
Chris talks about the best practices that you can apply to your own investing style before striking a deal with a multifamily investor, including how to make sure your business plan aligns with theirs, what to look out for when vetting, and why you need to know exactly what you want before looking for deals. In short, everything that you need to know before you put your money in a multifamily—or pretty much any kind of real estate deal.
KEY TAKEAWAYS
1. Make sure that the syndicator’s business plan is in line with your intention with your money.
2. If you’re looking to grow your money, cash flow on the first day is not the most important thing.
3. Invest with someone that knows what to do when things go wrong.
4. Maintaining an open line of communication with the people at the other end of a deal can go a long way, even if you’re not saying ‘yes’.
5. Know exactly what you want so that you’re ready to jump when you find the right deal.
BOOKS
The Passive Investing Playbook – http://theinvestormindset.com/passive
LINKS
Chris Pomerleau on LinkedIn: https://www.linkedin.com/in/cashflowwithchris
Park Ave Official Website: https://parkaveinvesting.com/
Learn more about investing with Steven at http://theinvestormindset.com/invest
Join the MultiFamilyMBA and get exclusive free training: http://theinvestormindset.com/mfmba
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The Investor Mindset Podcast & President VonFinch Capital
Steven Pesavento has always been obsessed with understanding how we can think better, how we can be better and how we can do better. He is an active real estate investor who curates Commercial Real Estate Investments for clients.
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