After acquiring 100 single-family homes, Jacob realized that multifamily was the next thing he should target. A 46-unit multifamily investment was all it took for Jacob to kickstart his transition from single-family to multifamily investments. With the possibility of an on-site management unit, better expense ratio, flexibility, and better ROI for investors, multifamily properties have become a popular choice amongst investors in the real estate market.
From starting his real estate career as a sophomore to placing over $50 million into income-producing real estate, Jacob has undergone several ups and downs during his journey. In 2014, Jacob founded Holdfolio, a platform connecting investors and creating partnerships with high-yield investments in the real estate industry, that specializes in equity investments in multifamily deals and single-family rentals. He also created SyndicationPro, an innovative Real Estate Syndication Software that assists in the hassle-free management of capital, leads, and investors.
In this podcast, Jacob Blackett talks about how he switched from owning single-family homes to buying large multifamily apartment buildings, all through real estate syndication.
Listen on to know more about his journey:
Success Tips For Future Investors
- A knack for self-improvement
- Patience and perseverance
- An in-depth understanding of real estate market cycles
- Staying on top of all the resources out there, books, forums, podcasts, etc
- Become a deal maker
- Vision to invest in cash flowing buy-and-hold properties
- Being focussed and proactive
- Association with an established group
Mistakes Investors and Syndicators Make in Multifamily Investments
- Not raising enough capital upfront, preferably more
- Not analyzing a deal and overpaying
- Insufficient research about the area, apartment, terms, and conditions, etc that might result in buying in the wrong area or the wrong property
- Not analyzing the background of the property and the property itself
- Not having a robust plan in place before starting off
- Oblivious to the rules and regulations of the area
- Lacking marketing skills, or not willing to invest in it