In the latest episode of Dealmaker Diaries, host Donald Thomas sat down with Chris Lento, the founder of EM Capital, to discuss his journey from aerospace engineering to real estate investing, his insights on due diligence, market fluctuations, and more.
Key Highlights:
- Transition to Real Estate: Chris began investing in multifamily properties while working as an aerospace engineer. His passion for real estate grew, leading him to transition to a full-time career in the field.
- Importance of the Operator and Property Manager: When evaluating investment opportunities, Chris emphasizes the significance of the asset manager and property manager in ensuring the success of a property.
- Navigating Market Fluctuations: Chris and his team use strategies like rate caps on bridge loans to mitigate the impact of rising interest rates and maintain stability.
- Due Diligence: EM Capital performs thorough pre-inspections and assessments before signing purchase agreements, including lease audits, unit inspections, and environmental assessments.
- Diversification Strategies: Chris advocates for diversifying a portfolio by focusing on larger metropolitan areas with strong job and population growth, and investing in different property classes.
- Building Relationships and Networking: Chris highlights the importance of partnerships and networking within the multifamily industry for knowledge sharing and creating opportunities.
- Future Challenges and Opportunities: The biggest challenge is the volatile debt market, but Chris remains optimistic about opportunities in markets with strong job growth and balanced supply and demand dynamics.
Chris Lento’s journey and insights provide valuable lessons for both seasoned investors and those new to the multifamily real estate sector. From understanding the importance of due diligence to navigating market fluctuations and building strong relationships, Chris’ experience highlights the multifaceted nature of real estate investing.
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Connect with Chris Lento: LinkedIn.
Listen to the Full Episode: Available on Apple and Spotify.
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