#09: Where The Multifamily Real Estate Market Is Going and What You Need To Do To Be Protected with Ellie PerlmanJun 26, 2019
As you know by now, I have a lot of great guests and a lot of fun with them. Ellie Perlman is no different. Even Deb, when she finished editing the podcast, called me up and said "I Love Ellie!" And you will too. We get candid about what we think is going on in today's multifamily marketplace.
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Where The Multifamily Real Estate Market Is Going and What You Need To Do To Be Protected with Ellie Perlman
Ellie was leading commercial real estate transactions for Israel's largest developer with transactions valuing over $100 Million. Growing up poor in Israel, Ellie made the decision that's not how she was going to live her entire life. This is when she decided that she was going to be a lawyer.
While her parents weren't able to give her anything monetary, they instilled a belief in her that she could do anything. She understood that you can choose to be a victim, or you can choose to make something of your life. Ellie always knew that she could do better. Many people told her that she was never going to be a lawyer... She graduated in 3.5 years with a masters and bachelors in law with honors.
Ellie eventually moved to California where she had a comfy six-figure salary. Ellie had found her work to easy and became bored with what she doing. While in Israel she had helped to syndicate deals. Eventually, Ellie became the lead sponsor in syndications that are 100 units and above. She invests primarily in Texas and Florida, but is also looking to invest in Georgia.
Because Ellie is the lead sponsor in syndications, she is extremely conservative because she doesn't want to lose other people's money. Ellie even has her team be pessimistic when they think about an exit strategy before investing in a deal. You must be conservative with your cap rate because things can go wrong without you even expecting it or budgeting for it.
For leading the syndications, Ellie takes a 70/30 split. If you're thinking about investing in a syndication that is 100/0, then you should stay away. The investor doesn't have any of their own money in the deal. You want to make sure that each syndication you're apart of, the investor has his own skin in the game.
In this episode we also cover:
- Have far you should invest outside a city
- What a reasonable acquisition fee is
- What happens when you decide to overpay for a property
- Why you're really a marketer
- How Ellie takes her asset management fee
Connect with Ellie:
Links mentioned in the show:
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