Kenny Wolfe is the President of Wolfe Investments and has been investing in multifamily since 2010. He currently owns over $250M of commercial real estate with 4500 units in Texas, Louisiana, Oklahoma and Ohio. He also owns commercial retail properties in three states and some ground up development as well. In this episode, Kenny talks about alignment of interest between the syndicator and the investor, investing in downtown metro areas and investing for cash flow, appreciation or both.
Kenny discusses how he bought into two passive deals to learn the ropes in order to be a syndicator and the benefits of using networking to find sponsors and to get started.
Kenny talks about structuring his deals for the long term by aligning interests with his investors by eliminating acquisition and disposition fees and not paying a preferred return. He also mentions how bringing property management in house has given him better control over managing the assets.
Kenny discusses the three different types of assets he investing in:
1. Development focusing on appreciation
2. Existing multi-family properties focusing on cash flow and appreciation and
3. Commercial triple net leases focused on cash flow.
He also has recognized that because of the pandemic, there are great deals to be had in downtown metro areas and has purchased multi-family properties and conversions in downtown Cleveland, Dallas and Atlanta.
Podcast Kenny recommends:Old Capital Podcast
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