Listen Date: 9/2020, Source
- Rony Philip of Kingley Acquisitions
- He buys and operates multifamily in Atlanta and San Antonio
- Multifamily is much easier to scale over single-family because you can accumulate units faster and sell in bulk at a more favorable equity multiple
- To be successful you must take action
- “What it takes. Pursuit of Excellence” book recommendations
- Join a mastermind group and be open to pay to be a part of a quality group
- For new grads, he suggests joining a big brokerage shop and being an analyst in investment sales and then slowly investing as an LP in deals with sponsors and in markets you want to be in.
- If not that, join a sponsors team that you want to learn from
- Diverse employers and job growth are very important for markets he considers
- If your a GP raising money, it’s very important to understand your LP and their goals and expectations up front and what is their investment timeline
- Establishing trust is very important
- It’s very important to avoid sounding desperate but still establishing a sense of urgency
- An experienced team is very important so make sure you have complementary skill sets