Ep. 129: Getting Started in Multifamily with Kent Ritter

Kent Ritter is a native of Indianapolis, who began investing after successfully exiting a consulting firm with his partners. In seeking a place to invest the proceeds, he turned to multifamily and began the education process. To date, Kent has invested in over 1,000 multifamily units and he shares why he picked passive investing to start instead of buying his own 50 unit. He also talks about the Indy market and the strategies he employs to finds investors.   Partner: Download a Free Sample Apartment Deal Package     Key Insights Background in management consulting, focusing on operational improvement Started his own consulting firm, sold it in, and started looking for areas to invest the proceeds Looked into buying a 50-unit, but realized there were more benefits in acquiring a larger property The best property management firms don’t want to manage a property with less than 75-units Find sponsors who will be transparent and provide access on the inner workings for the deal As a passive investor, know your basics and ask about specifics, especially financing and renovations Indianapolis – great for multifamily, stable, and affordable Indy: 2nd largest city in the Midwest, 14th largest city in the US Kent’s market criteria: major markets, growth (population and job), business-friendly, employment mix, supply, amenities Sub-market: Hamilton county is expected to double by 2050, Hendricks is expected to grow by 84% by 2050, the median income is $66k Indiana voted 8th best state for business tax   Salesforce and Infosys have placed HQ in Indianapolis – attracting more tech jobs Tips To Grow Investors: Create your investor persona Kent’s Personas: Wealthy/Accredited Investor, Interested Active Investors, Busy Professionals, Retirees Where to find investors: local charity and political events, local meetup, REIA groups    Bull’s Eye Tips:   Most Recommended Book: Pitch Anything by Oren Klaff   Most Recommended Digital/Mobile Resource: Contactually   Daily Habit Meditate   Wish I Knew Starting Out Syndications   Current Curiosity Macro-economics   Best Place to Grab a Bite St. Elmo’s Steakhouse     Connect with Kent: Email: [email protected] Website: hudsoninvesting.com (Coming Soon)   Leave us a review and rating on Apple Podcasts or Spotify. Be sure to check out more info at TargetMarketInsights.com.