The Founder Shares the Key to a Successful Multifamily Syndication

Date
2024-07-03

In a recent episode of Pivot To Prosperity: Work Less… Make More! hosted by Ginny Bolling, SR/WA, Chris Lento, the founder and CEO of EM Capital, shared his remarkable transition from a 17-year career in aerospace engineering to establishing a successful real estate investment firm. Today, EM Capital boasts a portfolio exceeding $100 million and excels in acquisitions, asset management, and capital raising.

Key Highlights:

  1. Transition to Real Estate:
    • Chris worked in aerospace for 17 years while managing apt buildings on the side.
    • Founded EM Capital in 2018 to focus on real estate full-time.
    • Emphasizes the rewarding and enlightening experience of his career shift.
  2. Current Major Deal:
    • EM Capital is under contract for a $49 million, 268-unit property in Atlanta.
    • Highlights the challenges of high interest rates and a slow market.
  3. Property Management Strategy:
    • Partners with third-party property management companies for daily operations.
    • Focuses on asset management and executing business plans.
  4. Due Diligence Process:
    • Conducts thorough financial and physical inspections of every unit.
    • Collaborates with various vendors for accurate improvement quotes.
  5. Security and Community Improvements:
    • Implements enhanced lighting, security gates, and updated camera systems to improve safety.
    • Ensures a positive living experience for residents, resulting in higher satisfaction.
  6. Challenges and Memorable Experiences:
    • Recalls handling a property inspection with unexpected challenges, such as finding a machine gun in a unit.
    • Stresses professionalism and safety in such situations.
  7. Importance of Partnerships:
    • Values quality partnerships for mutual growth and innovation.
    • Collaborates with different partners on specific deals to fill gaps and drive success.
  8. Future Expansion:
    • Exploring opportunities in industrial real estate to diversify the portfolio.
    • Focuses on emerging markets with strong fundamentals.

 

Chris Lento’s journey exemplifies the power of vision, perseverance, and strategic partnerships in achieving success in the real estate industry.

Connect with Us:

For more insights, visit our website.

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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