Navigating The Multifamily Market in the Next 6-12 Months with CEO Jorge Abreu

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Will the multifamily market continue to thrive in the next 6-12 months, or will the pandemic bring it to a standstill?

Jorge Abreu has been Investing in Real Estate for over 15 years now. He started in Single Family, small Multifamily properties and eventually worked his way up to large 100+ Unit Multifamily properties. Before entering into Large Multifamily acquisitions Jorge had wholesaled over 200+ Single Family Properties. Fixed & Flipped over 150+ SF. Developed and completed several new development projects, over $20 Million in ground up construction.

He also started and built a Construction Company bringing in over $30 Million in yearly revenue & growing. He is now an Active & Passive Full Time Multifamily Real Estate Investor. Jorge and his company Elevate currently have 6,849 Doors and $500M under management. The assets are located throughout Texas, Oklahoma, Georgia and South Dakota.

Jorge is the CEO of Elevate Commercial Investment Group and JNT Construction. JNT Construction focuses on helping Multifamily Investors with their Due Diligence & Full renovations. Strong points are Locating Deals, Due Diligence, Executing CapEx, New Development & Raising Equity.

His goal is to reach 10,000 doors by the end of 2022 by creating strategic partnerships & implementing the proper systems in place for scalability. He is focused on continuing to grow his network and locate more Co-GP Partners, Passive Investors and also clients for his construction company. And always looking forward to adding value and helping others reach their goals.

In this episode with Jorge Abreu, you will learn:

1. How to capitalise on the real estate down cycle in a buyer's market.
2. Strategies for raising equity for larger multifamily investments.
3. How to leverage engineering skills for success in the real estate business.

Some key points:

(02:06) The next 6 to 12 months in the multi-family market
(04:19) Jorge raises capital from a mixture of sources
(05:42) The market's are changing and so is Jorge's investment criteria
(07:51) Smaller markets tend to fare worse during recessions
Jorge's take on investing in Class A vs Class C during a recession
(09:17) Many sellers are staying with their peak recession pricing expectations. What would be the trigger to get them to come down in price?
(12:46) How Jorge started in the business: single family and small multifamily properties
(15:01) How did Jorge go about building an investor list?
A mix of meeting people on the ground and automation
(19:46) Jorge's construction company
Mostly value-add projects, but also a bit of ground-up construction
(21:53) The multi family business is filled with people from engineering backgrounds
(23:33) Jorge's key to rapid business growth: cancel the noise and focus
(24:22) Another key to rapid growth: building a great team.
(28:01) How have the roles and responsibilities within the company changed as its grown?
(28:45) Jorge's 5 year vision: building the portfolio and vertically integrating all aspects of multifamily
(29:22) How to reach out to Jorge

🌎Reach out to Jorge Abreu
LinkedIN https://www.linkedin.com/in/jorgelabreu
IG: https://www.instagram.com/jorgemultifamily/?hl=en

🌎Reach out to Jonathan Twombly
LinkedIn: https://www.linkedin.com/in/jonathandtwombly

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Make sure to also check some of our previous episodes:

Going From Working In Hospitality To Multifamily Investing & Hotel Conversions With Charlie Rushton

Hotel Conversions To Multi Family Housing With David Peters

🎤 Podcast production Everglade Media