Today’s guest is Jonathan Barr started in acquisitions of single-family higher-end flips. Eventually, he got into ground-up developments and repositioning of multifamily buildings. Jonathan has been involved in 400+ projects during that period. When it comes to multifamily, he has been involved in property management, leasing, and construction and has a good grasp of the business as a whole.
Let’s listen to Jonathan to learn more about multifamily and expanding your network.
[00:01 – 07:01] Opening Segment
Let’s get to know Jonathan Barr
Jonathan talks about his background
Grew up in a real estate family
Why he did not want to work with his parents in real estate at first
The reason he wanted to join real estate and do it differently than his parent
Scaling in multifamily
[07:02 – 16:20] Multifamily Investing in Kansas City
Advice for investors to scale in multifamily and take the leap of faith.
Find a good mentor or coaching program.
What’s appealing about the MidWest and especially Kansas City
What is the practical difference between owning the 1920s property vs. owning a 1970s property?
The considerations and factors that are influencing the decision-making process of investing in the area.
The essential aspects of long-distance investing.
The downside of not being close with your investment property.
If you are interested in multifamily and want to review a sample deal, check out our special download of a sample deal package on casmoncapital.com/sampledeal, and join our mailing list to get tips and exclusive investment opportunities.
[16:21 – 29:50] Expanding Beyond Your Personal Network
Jonathan shares some tips to identify your market and go through the screening process to find the right team members.
Jonathan talks about the process of building a multifamily company with his brother and bring it on another investor in Oklahoma City.
Overcoming the challenge of building a new network.
Jonathan talks about the future goals of his company.
The key insight of building rapport to convince other future investors and partners.
How to connect with Jonathan
See links below
[29:51 – 35:49] The Bullseye Round
“Be disciplined and have the checklist for everything, so you don’t miss anything.”
Twitter and CRM
Most Recommended Book:
The Psychology of Money by Morgan Housel
Walking to clear his mind
Finding a new location to invest
Wish I Knew When I Was Starting Out:
I wish I went larger sooner and not being in fear of that
Best Place to Grab a Bite in LA
How to connect with Jonathan.
See links below
“The people that are actually working on your property have to be high quality even if you need to pay them a little bit more; it’s worth it.” – Jonathan Barr
“To vet team members, you just need to talk to at least 3 PM, contractors. Vendors to get references and connect to a network with other investors that are in the area that not only can they refer people to you but they could also be potential partners..” – Jonathan Barr
“Just think outside of the box and see what the opportunities are available for us.” – Jonathan Barr
Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING AND REVIEW, and be sure to hit that subscribe button, so you do not miss an episode.