Scaling from Flips to Apartment Complexes with Jeremy Porto
Welcome back to the Passive Wealth Strategies show. Today we meet our guest Jeremy Porto to talk about Real Estate investing, creating and maintaining partnerships, finding the right people and finding the money.
Jeremy Porto has been investing in real estate since 2008. With a civil engineering degree from the University of Virginia and leadership experience as a special operations pilot in the United States Air Force, Jeremy is well suited to handle the high level of detail and focus required to handle our team's negotiations and acquisitions. With over 300 units in 4 different states in the southeast, Jeremy's experience and perseverance positions Astra Equity as a leader in the multifamily space.
[00:01 – 6:33] Opening Segment
- Jereme gives us and introduction about himself:
- An Air Force pilot getting started on single family and multifamily investing.
- Rentals, buying single family, duplexes and focusing on fourplexes.
- Moving to larger multifamily.
- Forming Astra Equity and getting to 75 units.
[6:33 - 8:25] Early Investments:
- Investing in Real Estate while active at the Air Force.
- The stability of having a partner with a W2 and Real Estate Investing.
- Getting started on a few investments.
[8:25 – 26:00] Multifamily as the Main Goal
- Syndicating deals as a medium to larger projects.
- Evaluating deals on their risk.
- Joint Ventures and Syndication
- Decision process when looking at a deal.
- Complementary skills when participating in partnerships.
- Jeremy describes his partners.
- Setting criteria when evaluating a deal.
- Leveraging your network to find the right team and solve problems.
- Jeremy explains how he funds his deals.
- Credit Unions
- Prepayment penalties on Credit Unions
- Lending terms by agencies
- Knowing your lender and establishing a relationship
- Jeremy shares his predictions for the future.
- He shares his vision on uncertainty
- Reference to “ The Black Swan” by Nicolas Taleb
[27:00 – 31:00] Closing Segment
- Quick break for our sponsors
- What is the best investment you've ever made other than your education?
- A fourplex deal in Colorado Springs
- Jeremy’s worst investment
- Jeremy shares a story about buying a single family property with his mother.
- What is the most important lesson that you've learned in business and investing?
- “The team is what it’s going to get it done, not the individual”
- Connect with my guest. See the links below.
Tweetable Quotes:
“Problems get solved by people, whether that’s somebody who can connect you with somebody else, somebody who has capital, somebody that has experience or knowledge that you don’t have. All of these problems get solved by people .” - Jeremy Porto
“Network on volume, put yourself out there , the more people you meet the more deals you do.” - Jeremy Porto
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Connect with Jeremy through LinkedIn or at [email protected]
Visit his website: www.astraeq.com
Resources Mentioned:
- Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth - Larry Lofthis
- The Black Swan - Nicolas Taleb
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