JF3428: Blueprint for Building a 900+ Unit Multifamily Portfolio ft. Farris Gosea

The Best Ever CRE Show

Best Ever CRE

Entrepreneurship, Investing, Business

4.7 • 996 Ratings

🗓️ 23 January 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Farris Gosea, the founder of Farris Gosea Capital, talks about scaling his multifamily portfolio to 920 units, including the challenges he’s experienced along the way from finding great maintenance technicians to implementing better systems. Key Takeaways Scaling in Real Estate: Farris emphasizes the importance of transitioning to larger properties and why it’s critical to have a long term mindset prior to scaling. Financial Strategies and Management: Farris shares insights into his approach to financing and managing his properties, including self-management strategies, and the benefits of using professional property management software. He also highlights the importance of maintaining control over operations and the strategic decision not to raise external capital for his investments. Maintenance Challenges and Deal Sourcing: Farris discusses the challenges faced in scaling a real estate business, particularly in maintenance and staffing. He provides tips on finding good deals, focusing on off-market opportunities, and his criteria for identifying profitable investments. Farris Gosea | Real Estate Background Founder of Farris Ghosea Capital Portfolio: 920 units Based in: Schererville, IN Say hi to him at: rentalincomepodcast.com/group ellsburygroup.com farrisgoseacapital.com Greatest Lesson: TSet aggressive goals, and have a longterm mindset. Then work backwards from there. Sponsors BAM Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Did you know that within a decade women will hold $30 trillion in investable assets?
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0:56.6	That's Invest Her, H-E-R, Con.com, promo code 100 best ever to get $100 off your ticket.
1:05.0	Quick disclaimer, the views and opinions expressed in this podcast are provided for
1:09.0	informational purposes only and should not be construed as an offer to buy or sell any securities or to make or consider any
1:16.4	investment or course of action. For more information go to best ever show.com.
1:21.6	Set a goal that's well above what you think
1:24.8	you want to achieve this year or in the future.
1:26.9	And also look 10, 20, 30 years down the line.
1:30.1	And then work backwards from that goal and say,
1:31.6	okay, what do I need to do today? what do I need to do this month to achieve that?
1:35.6	Welcome to the best ever show, the world's longest running daily commercial real estate
1:40.2	podcast. Our hosts interview commercial real estate experts every day to get
1:45.0	you the best advice ever with none of the fluffy stuff. Hello best ever
1:49.3	listeners welcome to the best real estate investing advice ever show.
	...

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