144-Unit Ascend at Stone Mountain: Insights from Apartment Investor Chris Lento

Date
2024-05-10

In the edition of the Multifamily Investor Nation podcast, hosted by Dan Hanford and Whitney Elkins-Hutten, they are joined by Chris Lento, a masterful multifamily investor and former mechanical engineer, who now helms EM Capital, based in Boston.

Chris Lento discussed his transition from a career in engineering to full-time real estate investing, driven by a growing passion for multifamily properties. He provided an in-depth look at EM Capital’s latest project, Ascend at Stone Mountain, and highlighted the meticulous strategies involved in its acquisition and renovation. The episode offers valuable insights into the multifamily investment sector, touching on due diligence, financial strategies, and effective property management.

 

Key Highlights

  • Career Transition: Chris’ shift from engineering to real estate investing. The pivotal moment that led him to pursue investing full-time.
  • Ascend at Stone Mountain: Overview of the 144-unit complex in Stone Mountain, Georgia. Detailed account of acquisition and comprehensive renovation strategies.
  • Due Diligence: Thorough inspections and evaluations of each unit. Focus on critical elements like roofing, drainage, and structural integrity.
  • Financial Strategies: Securing a bridge loan with a capped interest rate. Ensuring financial stability amidst market fluctuations.
  • Multifaceted Challenges: Managing legal issues and insurance obstacles across different states. Importance of a proficient property management team.
  • Investment Insights: Effective capital raising and strategic deal structuring. Practical advice for active and passive multifamily investors.

 

Chris Lento’s appearance on the podcast is a treasure trove of practical advice and seasoned experiences, offering a vivid glimpse into the dynamic and demanding world of real estate investing.

Connect with Us:

Connect with Chris Lento: LinkedIn

Listen to the Full Episode: Available on Apple and Spotify.

Join our investor community by signing up here.

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