The Best Ever CRE Show JF3828: Multifamily Value-Add Strategy, Secondary Market Analysis, & Boiler System Emergency Management ft. Grant Reigner
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Feb 26, 2025 Grant Reigner, founder of Peak Three Properties, shares his journey from small residential investments to commercial multifamily success, focusing on Indiana markets. He details acquiring a 41-unit apartment in Kokomo, utilizing creative financing methods like seller financing. Grant discusses the challenges of a nine-month closing and an unexpected boiler failure. He emphasizes the importance of secondary market selection, value-add renovations, and building contingency funds to navigate uncertainties in the leasing market.
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First Deal Auction
- Grant Reigner's first real estate deal was a single-family home bought at auction in 2019.
- Though nerve-wracking, it proved his deal-making ability and gave him confidence.
Shift to Commercial
- Grant shifted to multifamily quickly due to its efficiency and partnered to overcome funding limitations.
- He later transitioned to commercial deals to enable full-time real estate.
First Commercial Deal Challenges
- Grant's first commercial deal, a 41-unit building, took nine months to close due to various obstacles.
- Challenges included broker issues, bank withdrawals, and seller impatience.