In this episode of the Journey to Multifamily Millions Podcast, we let you be in the passenger seat for an insightful conversation with our guest as he shares stories from his years of experience in commercial real estate lending.
I interview Russell Nova, a Principal at Cornerstone Capital Group and MTN Investment Group, who shares insight on crucial aspects that are key to success in the multifamily market and lays out some strategies for gaining access to funding.
The discussion covers how different financing options can reduce risk and increase returns. Also discussed are some common mistakes made by investors that could have been prevented by utilizing better financing & rate caps, how they affect your investment strategy, and the importance of designating an investment goal and having an exit plan.
Key Points From This Episode
🗝️ The competitive advantage of Cornerstone Capital as a debt and equity provider
🗝️ Why investors must identify their investment goals
🗝️ The importance of rate caps in today's environment
🗝️ The red flag every investor should look out for when choosing a market
🗝️ How multifamily is not a get-rich-quick game, it's a get wealthy over time strategy
Notable Quotes
- "The Real work doesn't start until you close" - [Russell Nova]
- "No matter what, our main objective is to ensure that every sponsor gets to the closing table" - [Russell Nova]
- "If you ask me or any other investor or any other operator, a 35% return in 18 months is healthy on its own" - [Russell Nova]
- "What a rate cap does is it's a yield bond that protects you against any kinds of increases in the rate" - [Russell Nova]
- "Debt is not to be feared, debt is to be understood" - [Russell Nova]
- "The problem with tertiary markets is that you don't necessarily know if they're going to grow" - [Tim Little]
- "Once you get into it, you'll realize that it's not about the 'now', it's about later… you're building for the future" - [Russell Nova]
Resources
Watch on YouTube
Connect with Russell Nova
👉 Connect with Tim
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https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497
