#71 with Josh Eitingon: Left his W-2 and Now Managing Hundreds of Units Under Syndication

Millennial Millionaire Real Estate Podcast

English - September 11, 2020 17:52 - 46 minutes - 84.3 MB - ★★★★★ - 56 ratings
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Previous Episode: #70 with Daniel Weisfield: How to Scale to 30 Trailer Park Units in 3 Years

Next Episode: #72 with Antoine Campbell: Leveraging Virtual Assistants to Scale Your Business & Finding Off-Market Deals

In this episode, Jonathan Farber interviews Josh Eitingon on his journey from building his first syndication while working a W2 to managing a few hundred units under syndication. Josh is an out of state multifamily syndicator based in Long Island, New York. In this episode, we dig into topics like: breaking into large multifamily, how to succeed in the multifamily space, principles of deal analysis, and more!

Top Takeaways:

Stepping into your first large deal - 9:00 - 14:30

Your network is one of your best resources for finding deals

As your network grows into new markets your exposure to deals will increase

Look for a deal in a diverse market and with solid numbers to hedge your bets

A property manager or other experienced partner can provide vital insight on a deal

Don’t be afraid to ask for second and third opinions on the numbers

Any lessons you take away will improve your chances of success down the line

Tips for succeeding in multifamily - 14:45 - 16:45

Market will determine your return and therefore your ability to afford quality management

The relationships you build in your market will make or break your long term profitability

Getting to know all the major players will create opportunities in the future and build goodwill