Description

I had the pleasure of speaking with Joseph Bramante. He is the co-founder and CEO of TriArc Real Estate Partners, a wholly integrated multifamily investment company. He purchased his first multifamily property in the US in 2011, sight unseen, while working as a business team lead for ExxonMobil in Papua, New Guinea. Today, along with his business partners, he has grown a portfolio of over 1100 units, increasing NOI (net operating income) by over 80% on average within 48 months post-acquisition. 

Let’s jump into Joseph’s story and get expert advice from a real estate pro! 

Things you will learn in this episode:

[00:01 - 04:29] Opening Segment

• How to get in contact with Joseph 
  • See links below
• Joseph talks about his career background
• Joseph shares the beginning of his journey in real estate
  • The ‘take action’ mindset

[04:30 - 22:59] Idea of Lose and Losing 

• Joseph talks about his first deal with 26 units
  • It took 6-9 months to find the deal
  • Didn't have any experience with multifamily before 
• He partnered up with a friend that did not have any experience as well
  • Leading himself and his friend based on the information he got from books
  • Do the same due diligence as buying a house
• Joseph talks about some missteps that he took
  • Did not have the detailed plan upfront before he closes the loan
  • Had some scope growth
• If you are interested in getting into multifamily or scaling your current business;
  •  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!
• Joseph talks about the AC process of getting a permit
  • Missed the submission of environmental 

[23:00 - 38:19]  Fixing it with the Right People 

• Joseph talks about the local rose group that he joined
  • He got a mentor and got some help
• He cashed up his 401K
  • Doubled his original investment
• Still on the mindset of saving his money and making real estate as a side job
  • Almost lost everything with loan 

[38:20 - 42:44] Closing Segment

• What are your words of wisdom to our listeners?
  • “You never gonna know or be ready until you do it.”
• Joseph talks about the Cap rate compression he got on his first deal
  • Compounding affect 
• Part of his success was getting the right team around him
• Final words from me

Tweetable Quotes: 

“Make sure you at least 80-90% of your detail plan before closing the loan  .” - Joseph Bramante.

“Make sure to distribute some of your savings to make an artificial paycheck to yourself .” -  Joseph Bramante

“It is not a one-man show; you have to bring in people to partner with you.” -  Joseph Bramante

You can connect with Joseph on LinkedIn, and you can also visit the website atwww.triarcrep.com or email him to info@triarcrep.com

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Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.