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Episodes
Tuesday Nov 17, 2020
Mistakes To Avoid When Evaluating Multifamily Syndications with Josh Satin
Tuesday Nov 17, 2020
Tuesday Nov 17, 2020
Today our guest, Josh Satin, is a very experienced multifamily and mobile home park investor. As the Director of Acquisitions at Gelt Inc., he has been involved in the acquisition of 3,300 units valued at nearly $530 million. He was also instrumental in helping to start Happy Homes Communities. Since HHC’s inception in 2017, Josh has been involved in the acquisitions of eight mobile home parks totaling over 1,000 spaces.
[00:01 – 05:01] Opening Segment
- I talk briefly about great values that await you in this episode
- I introduce the guest, Josh Satin
- Josh talks about his background and investment experience
- Former Professional baseball player for the New York Mets
- He started with passive investment on Real Estate in 2010
- Worked with Gelt Inc. since 2016
[05:02 – 16:16] Tips on investing
- His early years as a passive investor
- Josh talks about the advantage of being an educated investor
- Things to look at when investing
- Growth assumptions
- Exit cap
- Budget for reserves
- Josh talks about the role of debt in their investments
[16:17 – 22:07] Passive investments
- The importance of checking the numbers and business plan as a passive investor
- Things to look for in passive investments
- Track record
- Their motivation and effort
- Network and relationships in the market
[22:08 – 30:51] Closing Segment
- Quick break for our sponsors
- What is the best investment you've ever made other than your education?
- His First Investment
- What is the worst investment you ever made?
- Mobile Home Park in Pennsylvania
- What is the most important lesson that you've learned in business and investing?
- Relationships are everything
- Connect with Josh. See the links below.
Tweetable Quotes:
"Overpay if you have to for quality assets in quality locations, but don’t stretch one ounce for mediocre deals in bad locations.” Josh Satin
“You can make deals look better or worse based on your exit cap.” - Josh Satin
“Every passive investor, if they can, checks the numbers. What their plan is to get that return, and how risky that plan is to get that return.” - Josh Satin
“Relationships are everything, especially in our business. Because anyone can learn how to underwrite deals. Anyone can learn how to figure out if a location is growing. But not everyone can build relationships in order to win deals and make deals happen.” - Josh Satin
Resources Mentioned:
Connect with Josh, send him an email at Josh@geltinc.com
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