Ritter on Real Estate Building A 72+ Unit Multifamily Portfolio with Chris Grenzig
In today’s episode of #RitterOnRealEstate, we interview Chris Grenzig. Chris is the Founder of JAG Communities & JAG Capital Partners which is a vertically integrated multifamily-focused investment firm based in Jacksonville, FL.
Chris started investing in real estate in 2016 by attempting to flip houses in Long Island, NY. After months of failing, he attempted out-of-state flips, purchasing tax deeds, and finally found his footing in multifamily.
Chris's joint ventured on just over 100 units, before joining Toro Real Estate Partners as their head of Florida operations. Toro purchased 4000 units worth $300 mil, with 1000 units in Florida over 4 and half years. Chris eventually left Toro in Nov 2020 to start his own company which owns and manages small to mid-sized apartment complexes in the Jacksonville, MSA. JAG Communities currently owns and manages 60 units worth $6+ million, with a 10-year vision to scale to $500 million AUM.
Key Points From The Episode:
- How Chris's investment Journey started failing from flipping.
- Moving from his full-time job to real estate full time. Buying his first couple deals.
- How Chris landed in multifamily. Multifamily versus flipping.
- The power of forced appreciation.
- What Chris's focus is on now investing wise. Why he loves Florida for the long term.
- Working for a big-name versus himself.
- How to prioritize what's important. Time management tips for investors.
- How to deal with brokers organic conversations leading to getting deals done.
- Stang top of mine with real estate brokers.
- Chris's 10-year vision.
Books Mentioned:
- Clock Work by Michael Michalowicz
- Who Not How by Dan Sullivan
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Production by Outlier Audio