Ritter on Real Estate Managing Over $1 BILLION In Assets With Max Sharkansky
In today's episode of Ritter On Real Estate, we interview Max Sharkansky. Max is the co-founder, managing partner, and oversees all aspects of acquisition, disposition, and property analysis for Trion Properties.
Since the firm’s founding in 2005, Max has led the acquisition, renovation, and disposition of more than $1,200,000,000 in mismanaged, distressed, or under-valued multifamily assets yielding an average IRR in excess of 25%. Trion currently has over $1,000,000,000 of assets and approximately 5,000 multifamily units in its portfolio.
Max, along with partner Mitch Paskover, initially formed the Company to acquire properties in Los Angeles. Max led Trion in the execution of several acquisitions in the firm's first two years of existence, exiting the portfolio prior to the economic crisis. With cash on hand and no resources tied up in workouts, Max led an acquisition strategy of targeting distressed debt secured by multifamily REOs, which led to the ultra-successful campaign of the acquisition of 20 properties throughout the downturn.
Since the recovery, Trion has shifted strategies to the acquisition of value-add properties where value can be created through extensive renovations, hands-on management, and improvement of operating efficiencies.
Max's ability to identify then acquire distressed multifamily properties and his expertise in the marketplace have been instrumental in the success of Trion Properties. Welcome to the show, Max!
Key Points From The Episode:
- Max’s early days in real estate as an agent in 2005.
- How Max learned that true wealth is in owning real estate.
- Purchasing his first multifamily deals.
- Foreseeing the stock market crash in 2007. Exiting his properties before it got super bad.
- Investing in debt vs investing in properties.
- Having over $1,000,000,000 in managed assets.
- Insourcing vs outsourcing, how to grow a team.
- Max/s advice for new investors.
- Acquisitions and capital need to be the top priority for new investors.
- How Max analyzes deals.
- Why it's super important to build relationships when financing properties.
- Explaining Bridge debt. How Max structures debt for his investments.
- Max’s prediction on where interest rates will go in the future.
Books mentioned:
- Atomic Habits by James Clear
- The Real Estate Game by William J. Poorvu
How To Contact Max
- Trionproerties.com
- max@trionproperties.com
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Production by Outlier Audio