FBF #653: Multifamily Investing, Legacy Assets, and so much more! - with Ken Gee
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.9 • 675 Ratings
🗓️ 6 October 2023
⏱️ 29 minutes
🧾️ Download transcript
Summary
Today's Flash Back Friday episode is from episode #378, which originally aired on January 3, 2022.
Ken Gee is a real estate investment expert.
Ken is the Founder and Managing Partner of KRI Partners and the KRI group of companies. Throughout his career, he has been involved in transactions valued in excess of $2.0 billion, much of which has included the acquisition, management, and financing of various multi-family real estate projects as well as playing a significant role as a member of due diligence and transaction structure planning teams for several private equity firms specializing in the small and middle markets.
Quote:
“We analyze the rent roll and try to assess risk to the upside. So the first is comparing what the sellers in place lost to leases—consider that the least risky then we take a look at a more risky bucket of upside…then we take a look at the riskiest of the three which is the value we are going to create with amenity improvements or whatever we are going to do.”
Highlights:
2:03 - Ken tells listeners more about his background in real estate.
06:11 - Ken shares the types of assets his group goes after.
8:42 - Ken discusses what his group does to identify great performing properties.
11:35 - Ken talks about how people can financially model the next few years while not missing out on opportunities.
14:49 - Ken provides insight into the pros and cons of vertical integration.
17:18 - Ken touches on his favorite markets in South Florida.
19:30 - Ken explains buying existing product versus ground-up development.
20:33 - Ken talks about his current investments outside of his group.
22:25 - Ken answers Kevin’s golden nugget question.
26:31 - Ken gives some advice when investing.
Guest Website:
https://www.kriproperties.com/
Recommended Resources:
- Accredited Investors, you’re invited to Join the Cashflow Investor Club to learn how you can partner with Kevin Bupp on current and upcoming opportunities to create passive cash flow and build wealth. Join the Club!
- If you’re a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
- Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
- Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
- Learn more about Kevin’s investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.
Transcript
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| 0:00.0 | Welcome to this week's edition of Flashback Friday. It's your opportunity to get some good review by listening to episodes from the past that Kevin is handpicked to help you along your investment journey. If you like to partner with Kevin and join his team at Sunrise Capital Investors, head to invest with Sunrise.com to learn more. That's |
| 0:22.1 | invest with sunrise.com. Enjoy the show. Now, our guest for this week's show is a real estate |
| 0:27.7 | investment expert Ken Gee. Now, Ken is the founder and managing partner of KRI partners in the |
| 0:33.2 | KRI group of companies, a real estate investment group that specializes in multifamily investments. |
| 0:38.8 | Ken has more than 24 years of real estate banking, private equity, transaction, and principal |
| 0:42.8 | investing experience. Throughout his career, he has been involved in transactions valued in |
| 0:47.5 | excess of $2 billion, much of which has included the acquisition, management, and financing of |
| 0:53.1 | various multifamily real estate projects, |
| 0:55.4 | as well as playing a significant role as a member of the due diligence and transaction structure |
| 0:59.7 | planning teams for several private equity firms specializing in small and middle markets. And so, |
| 1:04.6 | guys, with that, it's my honor to welcome my guest for today's show, Ken Gee. Ken, how you doing |
| 1:10.1 | today? I'm doing great. Thanks so much |
| 1:11.9 | for having me. Yeah, excited to have you here. And as we were talking about before we started recording, |
| 1:15.4 | you are based up in Cleveland, Ohio. Do that correct? We are, yep. All right, excited. But most of your |
| 1:21.2 | assets are down in the Florida, down in the Florida area all across Florida, it looks like. And |
| 1:26.6 | so excited to chat with you about that |
| 1:28.2 | excited to dive into your your business you know exactly you know you know how you built it and |
| 1:34.0 | where you guys are at day what you're focusing on but before we do that Ken I'd like to take a few |
| 1:37.7 | minutes maybe pass a mic back to you and ask that you take you know some time and tell us a little |
| 1:41.6 | more about yourself your background and ultimately how you found your way into the multifamily sector. Yeah, that's a great question. So I grew up in |
| 1:48.7 | Toledo, excuse me, and got my undergraduate from University of Toledo and moved to Cleveland. |
| 1:56.8 | I got my grad, well, when I moved to Cleveland, I became a commercial lender, spent five years |
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