PODCAST EPISODE

40 | Creative Financing and Local Lending Lead to Home-Run Deal with Joel Florek

Making Money in Multifamily Real Estate Show

19-03-2020 • 34 mins


Joel's Background:

  • Principal of JFH Capital Group
  • Invests in commercial multifamily in Indiana and Southwest Michigan
  • Finds ways to creatively finance properties to be low to no money down in deals
  • Looking to scale up into larger properties (80+) for the benefits of scale

In this episode we cover:

  • Joel's start with a 4 unit house hack
  • His first commercial deal, a 16 unit which involved the seller carrying a second on the property.
  • His strategy on this deal and why he chose a shorter amortization length
  • The straightforward approach he took to get this deal closed with the seller and lender
  • How local lending can really be advantageous to find something that fits your needs
  • How that local lender saved the day as the 'backup' option Joel intended to use to finance
  • How to properly assess rental comps and sales comps in a smaller market that has less data

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