Today I met with a local business man named Shaun. We met at Julie’s Coffee and Tea on Park St and discussed my multi-family investment strategy and how it might work for him.
He works for a REIT and helps his company acquire and manage data centers throughout the U.S. His money is sitting stagnant in an account earning almost nothing.
He immediately understood the merits of creating passive cash flow through owning multi-family real estate. He owns a vacation home in Arnold and is looking to continue buying property.
I walked him through cap rates and management techniques. He was a quick study and followed along with the cash flow analysis and underwriting process easily. We decided to drive Oakland together over the next few days and take a closer look at a property on 15th street in Oakland and a 9 unit building on Telegraph. These buildings we have identified as potential targets and or partnerships.
It was great to meet a young professional who immediately saw the benefits of buying commercial real estate and was eager to jump in.