172: Breaking Into Apartment Investing with a 100-Unit First Deal with Jonathan Twombly

Have you ever dreamed of owning large apartment complexes? If so, don’t miss this powerful interview with Jonathan Twombly, a real estate investor whose very first deal had over 100 units! You’ll learn why Jonathan skipped the “small deal phase” and jumped right into big deals — and how he’s gone from nothing to over 400 units in the past several years. This show offers an incredibly realistic view of what it actually takes to break into the apartment complex market! In This Episode We Cover:How Jonathan got out of the law industry and into real estate investingThe partnership that changed his lifeHow you can always find deals within 100 milesThe details of Jonathan’s first dealWhat to do when someone cancels the dealHow financing contingency worksHow he structures his dealsTips for establishing yourself with brokersThe due diligence list to show to brokersThe importance of asking your friends for introductionsWhy you should focus on the relationship aspect of investingThe details of Jonathan’s first successful dealWhy you should consider buying the “unsexy” propertiesTips on looking for dealsHow he makes money through syndicationHis strategy on making 400-unit dealsHow he manages propertiesWhat you should know about underwriting a dealThings he would done differently if he started all over againAnd SO much more!Links from the ShowBiggerPockets on Google Play10 Things To Do Before Doing Your First Deal (blog)Books Mentioned in this ShowThe Wall Street Journal. Complete Real-Estate Investing Guidebook by David CrookLogistics Clusters by Yossi SheffiThe War of Art by Steven PressfieldThe 4-Hour Workweek by Timothy FerrissTweetable Topics:“You don’t know what the heck you are doing, but you’ll figure it out when you start somewhere.” (Tweet This!)“If you are a new investor, it’s not about how much money you have but about how many deals you have closed.” (Tweet This!)“Persistence is 90% in business and then the other 10% is not being an idiot.” (Tweet This!)Connect with JonathanJonathan’s BiggerPockets ProfileJonathan’s BlogJonathan’s Company Website