Building a Strong Partnership and Portfolio with Kristine Jefferson, Episode 184
An almost $2MM rebuild of a single-family home pushed Kristine Jefferson to transition into multifamily. The only problem was she knew that she wanted a partner for apartment investing to compliment her skillset. She found her teammate at a real estate meetup and focused on building a strong partnership that has led to a multifamily portfolio of 1400 units.
Her firm, Mission Bay Capital Partners, specializes in multifamily acquisitions and syndications. In this episode, Kristine shares what she learned from those single-family deals and how the skills transitioned into multifamily apartments, how to build strong partnerships, and how they scaled their portfolio of 1,400 units.
Kristine started in single-family fix flips, raising money primarily through private funds.
How an almost $2MM tear-down and rebuild of a single-family property pushed Kristine into Multifamily: “Why am I going through this for one door when I could be doing multiple doors?”
How Kristine made the leap from single-family to multifamily. Her journey included: Going to meetups, a mentor, educational programs and a lot of drive.
Why Kristine felt it was important to get a partner for her multifamily business.
The qualities to look for when searching out the perfect partner.
How to form a strong partnership. Tip: Do a deal together before making the partnership formal.
How to build a solid business foundation to enable growth.
Target Markets: Georgia, North Carolina, South Carolina. Most off-market acquisitions. Focus on secondary and tertiary markets.
What to look for and what to avoid when investing in smaller markets
Best practices when talking to investors and raising capital (investors are more concerned about the market vs. the property)
Analyzing metro markets and their sub-markets: Sometimes you have to take a microscopic look to ensure a good investment
Key advice on raising capital: Know the deal inside and out and remember raising money starts before you have the deal.
Why it’s important to focus on the opportunity that you are creating for others
Partner: Download our Sample Deal Package
Tear down rebuild/monster: pushed her to MF - time & money suck
Investor Deal Room (online investor portal)
Most Recommended Book:
The E-Myth Revisited
Morning routine: Lunch for the kids, a walk for the dog, gym, reading, and prioritizing day
Wish I Knew When I Was Starting Out:
Wish she started when she was 23
Advice for Smart, Driven College Student:
It’s hard work: You get out of it what you put into it. Stay true to yourself.
Best Place to Grab a Bite in Northern Virginia Fairfax (DC)
Teddy & The Bully Bar