The Multifamily Wealth Podcast #33: Building a Portfolio Of Small Multifamily Properties In a High Priced Market With Willie Mandrell
This is a great episode for those looking to build a rental portfolio in a higher-priced market! Willie Mandrell shares how he used numerous financing strategies to acquire properties in the Boston, MA area, and how the listeners can develop a strategy that will allow them to scale in an area with higher price points. We also discuss why it is important to be well-known in your market and how it relates to finding deals and building relationships with lenders.
Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.
Are you looking to invest in real estate but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners partners with passive investors looking for the returns, stability, and tax benefits investing in real estate offers, but not the work - join our investor club to be notified of future investment opportunities.
Show Notes:
2:30 Willie shares how he got into real estate and how he purchased his first deal.
8:45 We discuss how Willie built a strategy and expanded his portfolio after his first FHA deal.
13:50 Willie talks about how relationships with banks and lenders are essential in getting the best financing.
15:12 We discuss why asking questions is critical to success in real estate.
18:40 Willie shares how he finds and structures deals. Also, we talk about what Willie looks for in a deal.
25:16 We discuss how Willie finances his deals with commercial and private lending.
27:00 Axel and Willie discuss the benefits of building a relationship with local banks.
31:38 Willie shares details regarding a few of his most recent deals.
36:48 We discuss the benefits of renovations within a higher price point market.
42:45 We discuss the differences between investing in high vs lower price point markets.
50:15 Willie shares his biggest business-related failure.
52:20 We discuss what Willie would do differently if he was starting his business again.
CONNECT WITH WILLIE:
https://www.linkedin.com/in/wjmandrell/
Connect with Axel:
Follow him on Instagram
Connect with him on Linkedin
Learn more about Aligned Real Estate Partners