Accelerated Real Estate Investor 206: Chris Grenzig on Turning a Failed Flip into Multifamily Investing Success
Today, I’m speaking with Chris Grenzig. Chris began his real estate investing journey in 2016 by attempting to flip houses on Long Island NY, but ultimately failed to flip a single property despite spending tens of thousands of dollars and several months trying. Instead of giving up, he shifted his focus to multifamily real estate and started by investing passively in an 8-unit property, then joint venturing on another 100 units worth over $4.5M. Chris’s experience landed him a job with Toro Real Estate Partners, which gave him an opportunity to learn from experienced investors. Over the course of 4 years, he became responsible for overseeing all of their Florida portfolio which consisted of 7 properties, totaling roughly 1,000 units worth $70M. In 2020, Chris’s persistence in the real estate investing game finally paid off as he ventured out on his own and founded JAG Communities — a vertically integrated multifamily investment firm that specializes in creating an exceptional living experience for residents. In this conversation, Chris walks us through his journey, from failing to flip houses to quitting his job and making a way in multifamily real estate. You’ll also hear us dissect his first two deals, including a 16 unit and 24 unit property, along with his 10 year plan for reaching $500 AUM!
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