In today’s episode, we are joined by Peter Knobloch to talk about his current work. Peter has always been in real estate in some way or another and shares his passion for the business with us. His particular passion lies in doing the financials on investments, which has continued to drive and motivate him.
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Peter shares with us some insights into the work that he does on his spreadsheets and which factors to include for investors. For him, it is important to take ownership of your spreadsheet. Although it is a great deal of initial work creating one from scratch, if you build it yourself, you will have a better understanding of how it works and the complexities it is trying to convey. Peter not only shares these valuable insights with us but also others such as how to look for the right market, market and property decision making criteria and much more. To learn more from this knowledgeable and passionate real estate investor, join us today!
Key Points From This Episode:
- Peter’s current investment plan and the markets he is choosing to buy-in.
- Some of the techniques Peter has used to increase his deal flow.
- The criteria that Peter uses when deciding on a market to invest in.
- Why it is important to build your own spreadsheet, rather than using someone else’s.
- Why Peter enjoys doing the financial analysis so much and how he goes about it.
- Having an annual rent roll projection does not fully capture the nuances of the ups and downs.
- What Peter has included in his executive summary/dashboard.
- Which information Peter has added to his spreadsheet that most people would not include.
- Understand what an investor needs to know to determine what goes into the spreadsheet.
- Some of Peter’s current property buying criteria.
- Your struggles are simply weaknesses waiting to be turned into strengths.
- Four things are necessary for long-term growth: strategy, structure, people, and processes.
[bctt tweet=”You got to look at every possible source available, both online and cultivating those personal relationships with those individuals. — Peter Knobloch” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Peter Knobloch
Peter Knobloch loves real estate! His dad was a part-time real estate agent and owned 5 units in San Diego, CA which he helped to maintain along with caring for tenants, toilets, and trash. His dad’s parents bought and sold both residential and commercial real estate investments from New York to Cape Cod. Peter is originally from New England; born in Brunswick, Maine but was raised in San Diego, CA since the age of four years. In his early career, he worked for an investment firm that catered to high net worth individuals and it was his responsibility to find, underwrite, negotiate, purchase, acquire debt financing, and create the private placement memorandums for multi-family apartments. Within twelve months, the company had acquired over 343 units with a gross purchase value of just under $14,000,000. They raised approximately $3,500,000 in equity. All properties were “valued-add” acquisitions.
After he left the investment firm, he worked as a senior financial analyst for the CFO for over 3 years at a commercial real estate development company where they built and managed multi-use projects (office, hotel, restaurant, sporting club) valued at over $500 million. His real estate investment expertise includes: investment identification, underwriting analyses, negotiations, acquisitions, development, equity funding, debt financing, asset management, and valuations up to $300 Million. Along with this, his fields and specialties include: CFO/COO/CEO, operational management and consulting, private equity/capital, business/strategic plans, business valuations, business restructuring, and financial analysis/forensics.
10 years ago, Peter and his wife flipped a 3-bedroom condo purchased from a bank out of foreclosure for $50,000. It was a mess!!! They renovated the entire condo for about $20,000: carpet, drapes, bathroom, kitchen, paint, lighting, etc. 18 months later sold it for $150,000 and they did all of the work except the kitchen. He has been very blessed to marry his high school sweetheart and they have six wonderful and amazing children; 4 girls and 2 boys (all planned). They also have six wonderful grandchildren. Peter has been fortunate to travel to over 26 countries and enjoys many outdoor activities, but mostly spending time with family and friends. He has an MBA in Finance and International Business, graduating with Honors. Currently, Peter is actively seeking value-add multifamily apartments across the U.S. for syndication.
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