JF1376: When Deals Don’t Go As Planned, Try To Fall Forward #SituationSaturday with Ivan Barratt

On Ivan’s third apartment acquisition, everything went wrong and “almost ruined” Ivan. To start with, Ivan paid too much for this 30 unit re-development deal. The deal was very distressed, and in a less than ideal location, but Ivan had faith in the area rebounding. Hear how he handled this situation with terrible tenants that wouldn’t pay, the property falling apart, bad plumbing, bad electrical, just about everything you can imagine went wrong with this place. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!

Best Ever Tweet:

“The worst part was the tenants” - Ivan Barratt

 

Ivan Barratt Real Estate Background:

Multifamily owner, manager, and syndicator who specializes in agency and FHA financed projects Has raised over $24 Million in equity and acquired over 1,800 units since 2014 His companies manage well over $150 million in assets comprising over 2,200 units Based in Indianapolis, IN Say hi to him at http://www.barrattassetmanagement.com/ Listen to his previous Best Ever Advice here: https://joefairless.com/podcast/jf862-landlord-paying-for-utilities-plus-large-multifamily-acquisitions/

 

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