From a successful NFL career to one in real estate syndication, Brian Leonard joins us to talk us through this transition and how he carved out a niche for himself in the industry. Together with our other guest on the show, Anthony Scandariato, Brian founded Red Knight Properties, a boutique multi-family and mixed-use real estate investment company.
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In today’s episode, you’ll learn how the two of them became partners, what their different roles entail, how they acquired their first property and all the reasons why they have chosen to manage their own properties rather than hiring a third party to perform this function. They discuss the notoriously high-priced markets of New Jersey, how they got a foot in the door, and how they still manage to make a profit. Brain and Anthony also share their thoughts on buying in rent-controlled areas, building relationships with brokers, marketing and hosting successful networking events, and the best strategies for mitigating the impact of the coming recession.
Key Points From This Episode:
- Brian’s transition from a professional football career to a “regular” job and the next step of life.
- Starting the process of educating himself in real estate, particularly multi-family properties.
- How Brian’s sports career and reputation gained him people’s trust in the real estate world.
- How they acquired their first property and what they are focusing on right now.
- The structure of their partnership in terms of roles and responsibilities.
- Why they choose to manage their own properties rather than using a third party.
- How they succeed in making money in the high-priced markets of New Jersey.
- Thoughts on buying in areas that have rent control and its relevance to their business plan.
- Strategies for building strong relationships with brokers, including hosting networking events.
- How they go about marketing their networking events to draw such large numbers.
- Preparing for the possible recession by buying B and C-class properties.
- Learning the various regulatory rules as the biggest challenge in the syndication space.
- Giving back through the Embrace Kids Foundation and more about their involvement there.
[bctt tweet=”There are deals in Jersey, it’s just, you’ve got to find them, you’ve got to know people, you’ve got to have relationships with brokers. — @Brian40Leonard” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Anthony Scandariato & Brian Leonard
Brian Leonard and Anthony Scandariato are the co-founders and managing principals of Red Knight Properties. Red Knight Properties is a boutique multi-family and mixed-use real estate investment company with a track record of building portfolios that deliver dependable cash flow and equity upside. By pooling our capital together, along with a select group of other investors via syndications and joint ventures, we can offer nimble capital for value-add real estate equity investments. Red Knight Properties currently has 65 apartment & retail units under management/ownership in Northern New Jersey and is under contract for an additional 74, totaling 139 units acquired in less than a year. Red Knight Properties also owns and manages in Orange County, New York.
Prior to forming Red Knight Properties, Anthony Scandariato who graduated from Cornell University with a Bachelor’s degree in Applied Economics and Management, worked as an Acquisitions & Asset Manager Vice President for Vision Properties, where he was directly involved and responsible for sourcing, negotiation, and managing the acquisition of $600MM+ of Class A office assets. Brian Leonard graduated from Rutgers University with a bachelor’s degree from the School of Management and Labor Relations. He also played football for the Scarlet Knights, where he managed to win two national football awards in 2006. He was later drafted by the St. Louis Rams in the second round and went on to play 8 years as running-back in the NFL.
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