Multifamily Legacy Podcast in the NY City Podcast Network

099: Tip Of The Iceberg: Going From Passive Investing To Owning Multifamily Units

Going from more than 1 500 passive investments to actively closing more than 170 units and a goal to reach 50 million assets under management in the next year that s just the tip of the iceberg Today s guest is Gary Lipsky CEO and founder of Break of Day Capital Knowing how to manage people having a steady hand and being a solutions-oriented person led him to the multifamily space Topics on Today s Episode Perfect Storm Applying years of experience skills and lessons learned led Gary to multifamily space Pull the Trigger Education and partnerships provide time and money to invest personally and professionally in owning multifamily properties Meetup Host What happens What do you learn from others And why do others seek Gary s advice Build in Buffers Rates and terms can change nothing s perfect and things can always go wrong Don t Chase Deals Stay patient steady and true to your numbers to get deals CapEx Negotiation Needed Who s going to pay Who s fault is it Realistic vs Best Case Scenario Over-perform rather than under-promise give investors what they expect Raising Capital Email list meetups Webinars and meaningful relationships Multifamily Game Too good to be true Find educate understand and invest to overcome fear Due Diligence Take action don t work in silo and partner with others every deal looks sexy get to know operator and go beyond memorandum before investing Links and Resources Mentioned Gary Lipsky Gary Lipsky s Email Break of Day Capital Break of Day Capital on YouTube MultiFamily Masters Meetup Fannie Mae Kahuna Investments Multifamily Legacy Podcast on YouTube Multifamily Legacy Podcast on Facebook Quotes Everything I have done in the past has led up to this moment The lessons learned the mistakes all the hard work has brought me to this point Gary Lipsky Knowing how to manage people having a steady hand and kind of being a solutions-oriented person really led me to multifamily Gary Lipsky Deals money people resources those are all the things that show up at meetups Corey Peterson Dealing with a seller who is a pain in the ass from the beginning it s not going to improve Gary Lipsky Don t forget to download my Free Workshop Quickstart Video Series and if you like what you have heard please leave a review on iTunes Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family Click here to visit this podcast episode