Max Sharkansky is the co-founder and managing partner of Trion Properties, a multifamily investment shop. Max has a large west coast presence in California and sent Omar a DM through twitter, that him and his investors are dying to buy property in Florida. Six months later, he was buying a $108 million property from our team in Orlando. Max started as a broker, before starting to buy his own multifamily properties. What started as a 12 unit investment, is now a portfolio of about 6,500 units valued at roughly $1.5 billon.
In this conversation, we discuss how to transition from brokering to buying your own properties, scaling a real estate private equity fund, how Max is underwriting properties in today’s environment, where he thinks multifamily valuations are headed, and more.
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- 0:00 - Intro
- 1:42 - Max’s background
- 5:10 - Beginning career as a broker at Marcus & Millichap
- 8:50 - Buying his first deal and competition
- 11:47 - Beginning to raise capital and building Trion
- 14:22 - Navigating the 2008 market
- 17:27 - Growing portfolio of notes
- 21:42 - Decision to go in-house for property management & constriction
- 27:42 - First deal and connecting through twitter
- 31:16 - Transition from LA to Miami
- 34:54 - Trion Properties payroll
- 35:42 - Trion Properties portfolio
- 37:42 - Lessons learned from Trion Properties
- 41:25 - Current market conditions and interest rates
- 49:03 - Growth of Florida and Miami market
- 52:52 - Current investment opportunities
- 55:22 - Closing statements on Miami
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