WS1594: Amassing $1M Worth of Multifamily Portfolio | Corey Chonsky

Published: March 3, 2023, 8 a.m.

Investing in real estate requires thorough underwriting, strategic partnerships, and continuous market research. Corey shares his background in commercial real estate and his success across multiple states in multifamily investing, making him produce a portfolio of over $1M.\xa0

Fair Winds Capital Investments also exemplifies these qualities by taking calculated risks and exploring new markets while learning from their experiences. Tune in as Corey shares his company\u2019s debt financing strategies and the company's growth plans and predictions about the future of the economy. Listen now!


Key Points From This Episode:\xa0

  • Corey\u2019s background and where he is at today.
  • Corey\u2019s military background and transition into real estate.
  • Corey discusses his move from single-family rentals to commercial real estate and the mental shift to make that change.
  • How Corey was able to continue investing in real estate without a significant amount of capital and by getting into syndications and partnerships.
  • Why asset management is something that Corey excels at and is his strength as a real estate investor?
  • Corey talks about his team and the co-founders of Fair Winds Capital Investments.
  • The typical cost of a deal, the money on Corey\u2019s recent projects, and the amount of equity in debt.
  • What is Fair Winds finding in the world of debt today?
  • Corey shares about the contract they broke during their due diligence in Houston and why.
  • The places Corey is looking to invest in today other than Houston.


Tweetables:

\u201cI'm definitely on board with partnerships and invested dollars, my own dollars and bringing it all in together to take down a good deal.\u201d - Corey Chonsky

\u201cFor us, we wanted to get as much capital as cheaply as possible. And we went with the blended approach.\u201d - Corey Chonsky

\u201cI'd much rather have partnerships involved in taking down a property than just me trying to do it all on my own.\u201d - Corey Chonsky

\u201cThe blended approach to financing allows us to get as much capital as cheaply as possible, reducing the blended rate as much as possible. With the current market conditions, bridge loans could be around 7-7.5%, but with the blended approach, we can get capital at a lower rate.\u201d - Corey Chonsky


Links Mentioned in Today\u2019s Episode:

Rich

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