Raj Tut is joined by Kurt Hunter, Managing Partner of STRAQR Investment Funds. Kurt, along with his partners, has raised over $100 million from investors and leveraged it with conservative debt to buy 2800+ apartments, 3000+ residential lots, and several hundred acres of land. His company's unique fund structure and strategy of buying in tertiary markets has allowed them to have great success since formation. Kurt is very thorough in his underwriting process and has a unique lens from which he views apartment deals.
Kurt moved to St. Louis from a small town to pursue his entrepreneurial endeavors - and it has paid off. He is very candid and open in sharing his strategies and insights that have helped STRAQR become a force in the multifamily world.
On this episode, Raj and Kurt discuss:
⚫ His experience growing up in a small town
⚫ Experimenting with entrepreneurship as a student
⚫ Deciding to jump into entrepreneurship in a bigger city
⚫ Early experiences with smaller multifamily
⚫ Forming STRAQR and buying residential lots
⚫ Pivoting the strategy to go solely into apartments
⚫ How he underwrites and performs due diligence on acquisitions
Topics:
00:00 Intro
01:36 What STRAQR is
04:19 Growing up in a small town and starting an eBay company
06:58 Moving to St. Louis and starting in real estate
10:13 The last recession compared to today
13:43 How he met established people to partner with
15:26 The ability to jump on opportunities
16:30 Fund track record
18:40 Acquisition criteria and target
22:39 Asset management strategy
27:40 Operating in tertiary markets
30:03 Expense creep
32:18 What STRAQR is currently looking for
36:15 Due diligence and value-add
42:27 IRR as as metric
43:11 The most lucrative deal thus far
47:09 Why their fund structure works
50:12 Where we're headed in the next year
54:55 Apartment supply
56:20 Hole In One - Kurt's advice for you to improve your life and business
Support our Sponsors:
Storyboard Living - If you are looking to sell a multifamily property in the St. Louis region or Southern IL/MO please email deals@storyboardliving.com
Follow Storyboard Living on LinkedIn - https://www.linkedin.com/company/storyboard-living/
Raj Tut on Social Media:
Twitter: twitter.com/ItsRajTut
LinkedIn: https://www.linkedin.com/in/rajtut/
Instagram: instagram.com/ItsRajTut
TikTok: https://www.tiktok.com/@itsrajtut
YouTube: https://www.youtube.com/ @ItsRajTut
Learn More about Kurt Hunter:
http://www.straqr.com/
Leave a review on Apple: https://podcasts.apple.com/us/podcast/country-club-conversations/id1709895268
Leave a review on Spotify: https://open.spotify.com/show/4ovakj2lJMS7GLqgBdt766
#business #businessideas #multifamilyindustry #realestate #motivation #multifamily #entrepreneur #entrepreneurship #rajtut #raj-tut
