Our guest, Sarah May, is an aerospace engineer. While working, she saved money with her husband and business partners. They bought a duplex, saved some more, and bought a triplex. They kept doing it until they had built a portfolio of properties. In 2016, she decided to change careers. She learned about syndication, joined an investment club, got a coach, and then started Regency Investment Group in the same year.
In this episode, Sarah discusses ways of finding great deals in the most unlikely places – like a diamond in the rough. She talks about her project, which required much work and value add but worked well in the end. Sarah emphasizes the importance of communication and gives tips on communicating effectively with sponsors. She also leaves some tips for the budding limited partners analyzing a deal.
Key Points from This Episode:
“That’s one of the things I love about the business, as you take the worst property on the block and then make it the place everyone wants to live. And the tenants are proud to live there now, excited to bring their friends over, you know, the community improves, because now instead of this eyesore property, now you have something that’s appealing and a nice home for people to live.” [00:06:31]
“One of the things we like to do when we have a new property is send out an email to all of our potential investors laying out the whole business plan and why we’re doing what we’re doing, and the financial projected returns for them, they choose to invest with us. And so, it really was just a matter of being very clear on our communications, and also setting the vision for the property.” [00:10:48]
“The communication, I think, is key and just making sure you set expectations, and everybody knows what the plan is for the property.” [00:11:55]
About Sarah May
Sarah is a managing partner for Regency Investment Group, where her focus is on identifying and acquiring multifamily properties with the goal of providing strong financial returns for Regency’s investors. Regency focuses exclusively on multifamily apartment communities in Colorado with a value-add component.