Making Money in Deep Value-Add Properties with John Warren, Ep. 482
John Warren owns 154 apartments in the Chicago MSA, and he also manages a total of 189 units. John is the managing broker at Forte Properties, Inc, and he runs a team of four agents that focuses on helping investors buy, sell, and manage their residential investment properties. We talked to John about the competition in the 12+ units space, deep value-add properties, keys to scaling your portfolio, and much more! Announcement: Click here to join me and other top real estate investors for the Midwest Real Estate Networking Summit! [00:01] Opening Segment John talks about his background; Being an agent and investor at the same time; [04:45] Buying Criteria and Deep Value-add Properties What investing in 1 to 4 units looks like today; Competition in return criteria in the 12+ units space; John’s buying criteria; Deep value-add properties VS. Light to medium value-add properties. [11:18] Scaling a Portfolio Understanding the risks before getting into deep value-add properties; Find the right people to work with; Keys to scaling your portfolio; JV Partnerships and deal structures; Advice for new investors; Announcement: Download Our Sample Deal and Join Our Mailing List [24:24] Round of Insights Apparent Failure: A flip he did in 2017. Digital Resource: Appfolio Most Recommended Book: How to Make it Big as a Real Estate Agent Daily Habit: Doing a modified version of the miracle morning. #1 Insight for Growing a Multifamily Portfolio: Always look out for other people. Best Place to Grab a Bite in Chicago: Freddies Contact John: You can email John by clicking here. Episode 75 with John Warren Tweetable Quotes: “Good deals are made, not purchased.” - John Warren Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.