JF3383: 15 Deals in 15 Months: How to Build a 600-Unit Multifamily Portfolio ft. Ross McArthur

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7 • 996 Ratings

🗓️ 9 December 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ross McArthur, co-founder of Follow the Deal Investments, shares his journey in CRE investing, from being terrified to invest in a four-unit property in 2020 to closing 15 deals in 15 months to establish a 600 unit portfolio today. Key Takeaways Treating Real Estate Like a Business: Even if investing is just a side hustle for you, treat it like a business, not a hobby. This means organizing your operations, setting up dedicated email accounts, and implementing proper accounting and tracking software from day one. Strategic Team Building: The key to building a great team is hiring where you’re weak. You don’t have to hire a full team at 40 hours a week right away. Ross shares the transformative impact that hiring a part-time CFO and partnering with a real estate-focused CPA has had on his business and overall bottom line. The Power of Cash Out Refinancing and Local Banks: Ross increased his portfolio by 100 units in 12 months by utilizing the cash out refinance method and building relationships with local banks who gave him favorable financing terms. In today’s environment, having a good relationship with your local credit union may make the difference in getting a deal done or not. Applying a Sales Process to Your Investing Business: Ross has developed relationships with several key brokers in his market. He calls each of them several times a month to review their pipeline, analyzing new deals and returning to ones he may have passed on previously. This gives a steady pipeline of deals to underwrite and off-market access to potential properties. Ross McArthur | Real Estate Background Follow the Deal Investments Portfolio: Multiple multifamily properties in Indiana Based in: Indiana Say hi to him at: LinkedIn followthedeal.com Best Ever Book: The Decision by Kevin Hart Greatest Lesson: You have to treat real estate investing like a business, not a side hobby. And that means having some form of accounting and tracking software, having a specific email set up, basic things to keep yourself organized like a business. Sponsors CRE Daily BV Captial BAM Capital Syndication Attorneys Learn more about your ad choices. Visit megaphone.fm/adchoices

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1:21.8	So many people jump in, treat it like a hobby, and guess what?
1:26.8	There's a saying if you treat it like a hobby, it's gonna pay you like a hobby.
1:29.6	If you treat it like a job, it's gonna pay you like a job.
1:32.0	So treat it like a job in a business and it will definitely make
1:36.2	your life a hell a lot easier and it'll help you scale.
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