Multifamily Missteps Hosted by Christy Keeton
Are you tired of the "rainbows and butterflies" approach in multifamily investing, where everything unfolds seamlessly, and everybody wins? You never see “behind the scenes” reality.
If you resonate with our perspective, acknowledging that true insights emerge from navigating mistakes and challenges, then you're in the right place.
Join Christy Keeton, your host, as she dives into the missteps and lessons learned encountered by active apartment operators.
In these episodes, we embark on a journey to dissect and analyze the pitfalls within the multifamily project life cycle, focusing on the crucial stages of Finding, Funding, Fixing, or Flipping a project.
Instead of glossing over setbacks, we shine a spotlight on them, providing a valuable learning experience for our audience. Each episode concludes not only by revealing how the issue at hand was rectified but also by sharing other priceless lessons derived from the experience.
It's an unfiltered exploration of the multifamily investment landscape, revealing the intricate tapestry of challenges and solutions that make the journey worthwhile.
Multifamily Missteps Hosted by Christy Keeton
They Cut My Loan Proceeds - Brian Briscoe
Today I had the pleasure of speaking with the CO-Founder and Marketing Manager of Four Oaks Capital, Brain Briscoe.
Let’s dive into Brian’s misstep story and how to come back from a cut in loan proceeds when you’ve overextended yourself.
[00:01 - 05:25] Opening Segment
- Brian Briscoe gives us his background story from Marine Corp to Multifamily Real Estate
- Contact Brian through Four Oaks Capital or contact directly at brianbriscoe@fouroakscapital.com
- Michael Blanck Coaching Program
[05:26 - 11:13] How to Launch
- Brian talks about the value of mentorship
- Brian shares how he launched himself into his first deal
- Don’t buy into the people teaching that you can start with zero down
[11:14 - 31:30] They Cut My Loan Proceeds
- Brian talks about overestimating the proceeds in the loan of his Franny May deal in the Scarborough area
- Brian walks us through how he was able to negotiate back up and fix the situation
- Changing the GP/LP split
- Brian gives us valuable advice about how to avoid this kind of situation
- Underwriting without assumptions
[31:31 - 34:57 ] Closing Segment
- What are your words of wisdom to our listeners?
- “Sharpen your pencil on everything” and “verify all assumptions”
- How long did it take you to close this deal?
- “The seller measured everything in business days to about 6 months.”
- Final words from me
Tweetable Quotes:
“Sharpen your pencil on everything...When you’re going through your underwriting or projections make sure there are no assumptions in there.” - Brian Briscoe
You can connect with Brian on LinkedIn, and Facebook, and definitely check out the Four Oaks Capital website.
LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.
If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!
Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.
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