Episode 105:
Venkat Avasarala is a seasoned Real Estate professional. His main focus is Ground Up Development of Market rate Multifamily properties, and acquiring Value-add Workforce housing Multifamily properties in landlord friendly Sun belt states.
Venkat is developing 1500 Multifamily units in DFW, Austin, Phoenix and has also acquired 3600 existing apartment units since 2016.
Venkat is managing $105 Million in Investor equity and has over $450 Million in Assets under management.
For today’s episode we will cover:
[ 00:00 – 06:40] Opening Segment.
- Getting to know Venkat Avasarala.
[ 06:40 – 11:20 ] Deciding on a risk adjusted basis
- Finding opportunities where life takes you.
- How Covid forced people to charge a premium
- Always be flexible with the times.
- Sticking with high growth markets.
[ 11:20 – 17:28 ] The Current Landscape of Real Estate
- Navigating through the post COVID market.
- Challenges in the construction industry.
- The ultimate value-add.
- The new reality to get land.
- Why 10 thousand dollars isn’t enough anymore.
[ 17:28 – 22:56 ] Restrictions of the Multi-Family Space
- The Robinhood Law in Texas.
- Why the Texas government is restrictive about real estate.
- Finding the cash flow positive deals.
[ 22:56 – 30:00 ] Importance of understanding the market
- Why you should invest in Texas.
- Why Lakewood is like Bitcoin.
- Why earning 100k dollars isn’t enough to buy a home in Denver.
- Why you should hold your properties in strategic locations.
- Playing to the strengths of the market.
[ 30:00 – 48:21 ] A deeper dive in the developer side of real estate
- How to attract an investor.
- Selling an idea that existed pre-Covid.
- Lowering investors expectations.
- Prioritizing your investors even when a property underperforms.
- The A market in Texas.
- How to avoid being trapped with a property.
- Venkat’s strategy to avoid being trapped.
- How long is the investment lifecycle with Venkat.
- The parallel between land and toilet paper.
[ 48:21 – 51:52 ] Closing segment
- Rapid fire questions for Venkat.
- Picking out mentors.
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