Get Off the Sidelines - Justin Britto

Multifamily Missteps Hosted by Jerome Myers

Wisdom comes from experience and learning from mistakes. Perhaps for those starting in multifamily investing, being a bit more conservative at first and taking calculated risks is the way. Do not take for granted the relationships you are developing along the way as this may turn out to be more valuable than what you are earning. My guest, Justin Britto, talks about how he became an investor, what mistakes he has made in the past, and how he has learned from them. He also shares advice for aspiring investors.

[00:01 - 05:40] Opening Segment

• Observing a lot of demand coming in from both buyers and renters
• How the economy in Phoenix has been growing rapidly
• The aim to mitigate risk and make money for investors

[05:41 - 16:12] Transparency is Always Key

• Broker relationships to move quickly and efficiently in the private capital market
• Independently analyzing deals and owning a property management company
• Gaining trust despite a lack of track record - transparency is key
• Tactics to employ for saving money on renovations through system integration

[16:13 - 25:44] Addressing the Barriers to Get Started

• Fear as a limiting factor in the ability to invest in day trading stocks
• How relationships can be more valuable than money
• Opt for your own financing if possible for a lower interest rate on a purchase
• You don’t need a perfect partner - do the work and put in the effort

[25:45 - 27:24] Closing Segment

• Keep the fortitude so you won’t have to turn back
• Final words

Tweetable Quotes:

“The important thing in the situation for me is just being transparent with the investors and just letting them know along the way, hey, this is what's going on.” - Justin Britto

“Don't wait. You don't need to have the perfect team in place. You don't need to have the perfect partner in place to get started. It's just put in the action, put the footwork in, and do your due diligence research, and you'll figure stuff out along the way.” - Justin Britto

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