Hi Fastlane friends,
Here’s an idea I want to bounce off you all in the hopes that you can come up with something better than what ChatGPT has given me today:
I initially had the brilliant idea to start a property management company (hustle) and try to scale this to a couple hundred units or so. My thought here is this would give me more credibility as an operator to say I’ve got a portfolio of x units, as well as good local relationships with mom and pop investors to source deals and raise money from. I’d take that resource and use it to raise capital to start buying units in a JV type structure with these investors. This seems like a quicker and cleaner route to a portfolio of assets than waiting to take the cashflow from one to invest in the next. I also view GP style investing as more of a business model than just solo investing which is just investing.
My big issue with this is I don’t have strong enough conviction in the residential market in my area to go all in on that for several years.
So does the brain trust here at Fastlane have any ideas for the general model of: 1) Provide key service to asset owners 2) Leverage relationships and experience for credibility and capital and 3) Invest as an owner in said assets, ideally using other people’s money.
This could definitely apply to other RE classes like self storage or STR but again kind of a narrow bet and more reliant on market dynamics. I’ve always liked the idea of pursuing more of a true “business”, but still want something with some exit value as an asset.
First post here so for context, I’m in my 20s with a background in RE development and banking. Also, acknowledging that I totally handwave scaling a property management venture to hundreds of units in this scenario.
Thanks!
Here’s an idea I want to bounce off you all in the hopes that you can come up with something better than what ChatGPT has given me today:
I initially had the brilliant idea to start a property management company (hustle) and try to scale this to a couple hundred units or so. My thought here is this would give me more credibility as an operator to say I’ve got a portfolio of x units, as well as good local relationships with mom and pop investors to source deals and raise money from. I’d take that resource and use it to raise capital to start buying units in a JV type structure with these investors. This seems like a quicker and cleaner route to a portfolio of assets than waiting to take the cashflow from one to invest in the next. I also view GP style investing as more of a business model than just solo investing which is just investing.
My big issue with this is I don’t have strong enough conviction in the residential market in my area to go all in on that for several years.
So does the brain trust here at Fastlane have any ideas for the general model of: 1) Provide key service to asset owners 2) Leverage relationships and experience for credibility and capital and 3) Invest as an owner in said assets, ideally using other people’s money.
This could definitely apply to other RE classes like self storage or STR but again kind of a narrow bet and more reliant on market dynamics. I’ve always liked the idea of pursuing more of a true “business”, but still want something with some exit value as an asset.
First post here so for context, I’m in my 20s with a background in RE development and banking. Also, acknowledging that I totally handwave scaling a property management venture to hundreds of units in this scenario.
Thanks!
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