Apr 6, 2021
Banks provide the majority of capital for apartment acquisitions, so you might expect that they have systems and processes to evaluate deals and determine if they want to make a loan. Considering the sheer volume of deals they review, they’ve been able to create shortcuts to determine the level of risk a deal poses. James Eng from, Old Capital believes investors can learn from this approach.
James Eng has over 15 years of experience in commercial real estate lending, starting his career as a loan underwriter at GE Capital Real Estate. In 2015, he joined Old Capital where he is currently the National Director.
He has worked with hundreds of investors to help them acquire over $1BN in multifamily properties totaling over 14,000 units nationwide. James combines his finance, risk, and investor background to find the best loan for clients and to be an indispensable advisor throughout the life cycle of a deal. In this episode he shares the three things he examines closely on a deal, insights on the Dallas-Fort Worth market, and the importance of branding and content creation.
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Growing up, I thought being a doctor, lawyer or attorney would grow my balance sheet, but turns out you can invest in commercial real estate and make good money for yourself.
Not until you have tribal knowledge of a market do you become a real estate expert in that market.
December 2020 had the highest amount of multifamily sales in 10 years!
Show me a comp in a one to two mile radius that is already getting the rents you're projecting, and I’m comfortable with that.
When we had the layoffs at GE, many went to find similar jobs, where I looked at it as an opportunity to do something else.
Most Recommended Book:
The Most Important Thing (Howard Marks)
The Purple Cow (Seth Godin)
Walking twice a day
Entrepreneurship and small business
Wish I Knew When I Was Starting Out:
Be willing to fail
Be willing to take a role with no salary to learn the business
Best Place to Grab a Bite in Frisco, TX
Get in Touch with James: