Today we are very thankful to have Ramana Korada, co-founder and managing partner of Raven Multifamily, join us on the show! Through Raven, Ramana and his partner Venkat Avasarala acquire B and C class multifamily assets and have syndicated an impressive 2,700 units in three different markets over the last three and a half years.
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Today you’ll hear exactly what that looks like as far as fundraising, underwriting, communications, exiting out, and building relationships with brokers and sellers. Ramana also spends some time telling us about how having a better knowledge of lending would have gone a long way earlier on in his career, and weighs in on some of the factors he considers in order to know a good deal when he sees one. Ramana has achieved great success in the multifamily business, particularly in fundraising and winning broker respect, which you will hear more of in the interview. The high standards of transparency and consistency in his track record show that he knows how to close deals, so tune in and hear how.
Key Points From This Episode:
- How Ramana went from IT to investing in strip malls and then multifamily syndication.
- Some of Ramana’s successes, such as hitting 11 syndications with 2,700 units.
- A consideration of fundraising issues in Ramana’s 280-unit Arlington property.
- How Ramana used underwriting to boost investor interest in the 280-unit.
- Raven’s business principles: no selling, clear communication, and clear expectations.
- The role that successfully exiting three properties played in securing Ramana’s success.
- How Ramana’s reputation for closing deals quickly led him to hear about an off-market deal.
- Tips for building a good relationship with brokers/sellers, such as having a good resume.
- Ramana’s experience working with JLL, which ended very well.
- What Ramana wished he knew earlier on in his real estate career: lending.
- The biggest challenges Ramana faces in syndication: finding good deals.
- A way Ramana has recently improved his business: streamlining broker/investor relations.
[bctt tweet=”After I found this mentor in Dallas, I felt like multifamily is the way to go because, at the end of the day, everybody has to live under a roof. — Ramana Korada” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Ramana Korada
Ramana Korada is the co-founder and managing partner of Raven Multifamily which acquires B and C class multifamily assets in landlord friendly and growth markets. Raven Multifamily syndicated 2700 units in three different markets in the last 3.5 years. Ramana Korada is passionate about adding value to investors as well as providing a safe, clean environment to tenants.
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