Success in Multifamily: Building Deal Flow and a $40 Million Portfolio with Jason Lee

Join Taylor Loht as he sits down with real estate investor Jason Lee to discuss the intricacies of building broker relationships when investing in commercial multi-family real estate. With a $40 million-plus portfolio in San Diego, Jason shares his strategies for success and the lessons he has learned from his clients. Learn how to stand out from other buyers, target active brokers looking to build their client list, diversify and make money in this industry. Discover how Jason has been able to purchase off-market properties at a discounted rate, fix them up, and then resell them for double what he bought. Tune in to this episode as they discuss strategies for breaking into the commercial real estate industry!

[00:01 - 07:30] Opening Segment

• Building relationships with brokers is vital to successful multi-family investing
• Give the broker information about yourself and your current buying situation
• Let the broker know that you are well-capitalized and have the capital to place

[07:31 - 14:29] Making a Million Dollars in Equity: How to Capitalize on Starting Relationships in the Commercial Real Estate Market

• Take brokers out to lunch to build relationships and stand out
• If investing outside of the area, use technology to meet face-to-face or visit the market
• Target brokers who are younger and hungry and active on the phones
• Invest in properties that need to be rebuilt and convert existing inhabitable space into legal units

[14:30 - 25:34] Transactions Slowing Down in San Diego Real Estate Market as Interest Rates Rise

• Buying properties off-market at a low valuation and fixing them up to sell for double the price
• Learning from high net worth clients that it's essential to buy in all markets and be aware of current sales comps
• Transactions have slowed down due to sellers being well-capitalized with little debt

[25:35 - 28:15] Closing Segment

• Jason's best investment: buying a four-unit property during the pandemic for $975,000 and selling it for $2 million
• Jason's worst investment: hiring a nightmare contractor
• The most important lesson learned: valuing relationships over money

Quotes:

"The more info they give me about themselves and about their current buying situation, the more I want to help them because they're giving me something to work with." - Jason Lee

"You have to meet face-to-face. We have to know who you are, and you know what you stand for and what you're looking for." - Jason Lee

"No matter how good a deal is, some side of your brain is always going to think it's too risky, and you just gotta follow your gut and go with it." - Jason Lee

"You have to see how a person acts in the bad times and not only the good times because when things go south, and you see some sort of challenge faced with you or your potential partner, that's when you kind of see their true colors come out." - Jason Lee

Connect with Jason!

• Email: [email protected]

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