REI129: Multifamily and Opportunity Zones w/ Barrett Linburg
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 4 July 2022
⏱️ 62 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:02.3 | That's kind of the theory, right? |
| 0:03.6 | Is that you can buy condos much cheaper, but then once you roll it up, you get rid of the HOA fee, |
| 0:09.5 | you lower expenses, you run it as an apartment efficiently, you fix the CAPEX, you fix the deferred |
| 0:14.6 | maintenance, you upgrade it. |
| 0:15.9 | Now you can run it as an apartment building and sell it on a cap rate. |
| 0:18.8 | You kind of win. |
| 0:22.6 | In this week's episode, I talk with Barrett Lindbergh, all about investing in multifamily |
| 0:27.6 | real estate in Opportunity Zone investing. Barrett is a co-founding partner of Savoy Equity Partners |
| 0:34.4 | and oversees the capitalization and structuring of the company's investments |
| 0:38.3 | along with deal sourcing. Born and raised in Dallas, he has spent 17 years in the real |
| 0:43.3 | estate industry crossing multiple product types and service lines. Eric started investing in real |
| 0:48.7 | estate in 2012 and enjoys learning about esoteric strategy, which can be implemented to create excellent risk-adjusted |
| 0:55.1 | returns. He has owned over a thousand multifamily units and specializes in transactions with |
| 1:00.2 | complex structures, such as historic tax credits, opportunity zones, low-income restrictions, |
| 1:06.9 | as well as the deconversion of fractured condos. |
| 1:14.6 | Prior to his work on the principal side of the business, Barrett worked as a mortgage broker. |
| 1:19.9 | He primarily arranged debt financing for multifamily properties, but also triple net properties, |
| 1:22.8 | hotels, and owner user spaces. |
| 1:29.5 | Real estate is already a tax-advantaged asset class, but when you couple it with opportunity zones, it can be even better. I also learned about deconversions of condos in this episode |
| 1:35.8 | from Barrett. I had heard of buying small apartments and turning them into condos, but not the other |
| 1:41.1 | way around, so I thought that was really interesting to learn about. |
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