Eric brings us a fascinating story of perseverance and success in the multifamily space! After his first several offers were rejected at the best and final round, he had the offer for his second acquisition accepted 10 days after he closed on the his first property for a total of 368 units!
Eric has some great tips for those of you wishing to transition from your W-2 gig. First, he was upfront with his company about what he was doing and his expected timeline. He worked over a 12-month period to hand off responsibilities over that timeframe. When the time finally came, it was a true win-win situation where everyone could be happy with the outcome.
Eric also has an amazing story for those of us working with a close relative like a spouse. When he described what he was doing to his future father-in-law Brett Davenport, he found two strong new partners in his new in-laws Brett Davenport and Meaghan Davenport.
If you are wondering where he got the name "Gibby's Capital Investments", I have to say, this is one of the best origin stories I have heard. When he told his future in-laws that he took their daughter to Gibby's on one of their first dates, they told him that was where they went for their first date! After that, there was no question what to call the company. Although Gibby's the restaurant didn't make it through the pandemic, Gibby's Capital Investments is still going strong!
Contacting Eric
eric@gibbyscapital.com
https://gibbyscapital.com/
More on Eric Chadderdon
Eric Chadderdon is a Founder and Managing Partner of Gibby’s Capital Investments, a real estate investment firm with roots in the great state of Texas and now expanding out to Florida as well. Eric grew up in and around real estate in Oregon, primarily in single-family, with some exposure to some multi-family investments as a kid as well. Eric set out to prove to his family that there was a better way to invest in multifamily properties and that's when things really took off for him…When he found multifamily syndications.
Eric has Bachelors of Science in Health Science Studies and also General Business from Boise State University (Go Broncos!).
He spent over a decade in direct sales and management before making the transition full time to multi-family real estate. He managed sales teams across the country and personally has hired and trained close to 1000 sales reps in his career, many of them are top level performers. He has now learned the ins and outs to multi-family investing, acquisitions, asset management, networking, and the process of due diligence. He’s made some of the strongest partnerships with other fast-moving, calculated, and successful real estate investment entrepreneurs.
Eric hopes to be able to continue finding more potential investors for their multifamily deals. Along with that, he wants to be able to inspire new, up and coming multifamily investors with his story of how he we from 0-368 units in his first 12 months in the multifamily space.
