Today’s episode features Matthew Vincent, David Choi, Kevin Romney, and Zach Haptonstall, the experts on finding off-market deals. Matthew tells us how he finds new opportunities with corporate real estate companies and David shares how was it possible for him to source deals as a beginner without a network.
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Kevin also gives us valuable insights as he discusses the off-market deals he has syndicated and explains to us why it’s important to build your network. Keep listening as Zach details the five off-market deals they had and how his people helped to scale his business. Tune in now and don’t miss the opportunity to source your deals on the best way to find off-market deals!
Key Points From This Episode:
- Where to find new opportunities in the commercial real estate market.
- The ways to add value to the people you’re pitching.
- How to start sourcing deals and reaching out to owners without any relationships or network.
- How to gather data and narrow them down to your target market.
- Samples of finding off-market deals and syndicating them.
- What is the importance of building your network and showing up?
- Zach details their five off-market deals under a contract worth $110 million.
- The people Zach have put together for him to be able to scale up his business.
“Once you find the owner that the institutions are probably gonna be pretty quick to put it in an offer, even if they have minimal underwriting data, sometimes they don’t even need to see the operating statement to find a good value because they have the resources to underwrite something without even looking at the place.” – Matthew Vincent
“When brokers talk to me they would hear a young kid on the phone and they didn’t believe what I was saying, so I had to figure out how to source deals direct to sellers and not through my network.” – David Choi
“It would be prudent for you to figure out what data set is most accurate in your market and take that 20 hours, 30 hours of research before going crazy.” – David Choi
“It’s just a matter of getting out, getting in front of people, continuing your education, but also building your network.” – Kevin Romney
“You need to constantly be cranking tours and asking intelligent questions, and then tell a little bit about yourself, and then at the end of the tour, I’ll always try to break into them and try to say, okay, what are the terms? What does it take to win this deal, etcetera, so that they get an idea of who you are, where’s your equity coming from, what’s your criteria.” – Zach Haptonstall
Links Mentioned in Today’s Episode:
About Matthew Vincent
Matthew Vincent is a 23-year-old Real Estate Broker in Anchorage, Alaska. His main focus is on off-market CRE and finding new opportunities with corporate real estate companies. He reads a book a week and peaks mountains every Saturday in the summer months. About David Choi
David is a seasoned real estate professional and serial entrepreneur. Before starting his fully integrated real estate company, David worked for some of the largest development and private equity companies in the country, including Hampshire and Kayne Anderson. David has been involved in the management of private equity portfolios of over $2 Billion AUM and has personally been involved in thousands of real estate transactions. David is an expert in the syndication of capital and creative financing to assemble deals with unconventional and unique capital structures.
Through his extensive experiences in real estate, on both the debt and equity platforms, he was able to find inefficiencies in the traditional acquisition and deal sourcing processes. In 2017, he began developing a proprietary deal-sourcing platform, using a data-driven approach to sourcing and acquiring deals on a national level. Presently, he’s the CEO of Leverage Companies and is actively purchasing, renovating, renting, and/or selling over 100 properties a year. David is also one of the founding partners in Leverage Capital Ventures, a Private Mortgage Origination company, originating over $100+ million in real estate bridge financing in its first year.
David graduated Cum Laude with a B.S. degree in Finance and Real Estate from Rutgers University and is an alumni member of the Rutgers Center of Real Estate Studies.
About Kevin Romney
Kevin Romney Co-founder and Managing Director of Camino Verde Group, Kevin leads the firm’s efforts in the acquisition and disposition of its multifamily assets. Kevin also oversees financial planning, analysis and underwriting. He began his career at Ernst & Young becoming a CPA. A serial entrepreneur, he has built, and sold numerous businesses throughout his career in the contact center, medical, franchise and clean energy industries. As part of this work, he led the build-out and renovation of several commercial and retail properties.
About Zach Haptonstall
Zach Haptonstall is the CEO and Co-Founder of Rise48 Equity where he operates $84,000,000 of Assets Under Management in Phoenix, Arizona.
Zach Founded The Phoenix Multifamily Association, a Phoenix-based organization that holds monthly speaking and networking events focused on apartment investing. Zach is also an official member of the Forbes Real Estate Council, and is a #1 Best Selling Co-Author of “Success Habits of Super Achievers.”
Zach holds a Master of Business Administration from the Colangelo College of Business at Grand Canyon University and graduated Summa Cum Laude with a Bachelor’s in Journalism and Mass Communication from the Walter Cronkite School of Journalism at Arizona State University. He is a former live television news anchor and sports reporter for Arizona PBS and co-hosted a show on Fox Sports Network Arizona.
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