Multifamily Madness | Top Brokers on Business Growth and Audience Building
Jan 17, 2024
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Multifamily Madness, a famous anonymous Twitter/X account with over 50,000 followers and who has brokered over 300 multifamily deals, discusses topics such as leveraging social media for business growth, the pros and cons of anonymity in the real estate industry, entering the syndicate business, differences in general partner strategies, career options, time allocation and strategies for brokering and syndicating, and investing in oneself and business.
Maintaining consistency in marketing and staying connected with potential clients is crucial for long-term success.
Using anonymous Twitter accounts can provide valuable connections, allowing for freely sharing insights and opinions without branding restrictions.
Combining a commercial real estate brokerage and multifamily syndication business can create opportunities to attract investors and generate deal flow.
Deep dives
Building Market Share During Downturns
The podcast episode emphasizes the importance of pushing forward and taking market share when others are pulling back. This strategy was successful for the podcast host in 2023, resulting in significant income. It is highlighted that investing in marketing and staying in front of potential clients consistently is crucial for long-term success.
The Power of Twitter and Personal Branding
The podcast guest, known as Multifamily Madness on Twitter, discusses how his Twitter following of over 50,000 followers has become a valuable source of business. He shares that using Twitter has allowed him to connect with potential buyers, sellers, and partners, leading to real estate deals and collaborations. He also highlights the benefits of remaining anonymous on Twitter, as it allows him to freely share insights and opinions without personal branding restrictions.
Syndication and Brokerage Success
The podcast guest, who is both a commercial real estate broker and a multifamily syndicator, highlights the advantages of combining both aspects of his business. By leveraging his brokerage connections and deals, he is able to attract investors for his syndication business and vice versa. The guest emphasizes the importance of investing in marketing and maintaining relationships through events and personal networking to generate deal flow and grow his business.
Efficient Deal Sourcing and Strong Acquisition Criteria
The speaker emphasizes their approach to deal sourcing, highlighting the importance of finding good deals that have strong potential for success. They mention buying properties at a discount and experiencing impressive returns, including double-digit cash on cash returns and appraisals that exceed the purchase price. They emphasize their focus on high-quality deals rather than just the quantity, underwriting hundreds of deals but only executing a few. They also mention their preference for investing in properties in a strong market class.
Importance of Building Experience before Becoming a GP
The speaker stresses the importance of gaining experience and knowledge before becoming a general partner (GP) in real estate deals. They advise younger individuals to focus on learning rather than rushing into buying their own deals. They suggest working for a brokerage or a private equity firm to gain exposure to different strategies, learn from experienced professionals, and reduce risk. They also highlight the value of being a broker in terms of meeting and learning from numerous GPs and gaining insights into various aspects of the real estate industry.
Multifamily Madness is a famous anonymous Twitter/X account. He has over 50,000 followers, and has brokered over 300 multifamily deals. He is the number one broker in Central New York, while also syndicating deals with other operators in different markets.