Are you a new real estate agent or thinking about breaking into the multifamily industry? In this episode of the Midwest Multifamily Exchange, I sit down with Tariq Suboh, owner of Ellsbury Commercial Group, who shares his journey from an insurance agent to a successful multifamily investor and broker. Tariq offers invaluable advice for anyone looking to navigate the multifamily real estate space, from prospecting tips and building a client base to managing a growing brokerage. He also discusses the mindset and habits needed to succeed in real estate, including the importance of persistence, communication, and follow-up.

Join us as Tariq provides a candid look at the challenges of running a multifamily brokerage, the unexpected hurdles he faced, and how his passion for real estate has driven his success. Whether you're just starting out or looking to scale up, this episode is packed with practical tips and insights that you won’t want to miss!

Timeline Summary:

[1:30] - Tariq Suboh's journey from insurance to multifamily real estate.

[4:45] - The founding and growth of Ellsbury Commercial Group.

[10:15] - How Tariq navigates the challenges of rapid expansion and managing a team.

[14:50] - The biggest hurdles in multifamily real estate and strategies to overcome them.

[20:00] - Key traits for success in real estate: Communication and follow-up.

[25:30] - The myths about real estate that new agents should know.

[32:10] - Tools and techniques for effective prospecting in real estate.

[36:00] - Balancing work and family while growing a business.

[38:45] - Tariq's vision for his legacy and the importance of giving back.

Links & Resources:

• Ellsbury Commercial Group: tariq@ellsburygroup.com

Closing Remark:

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In this episode of the Midwest Multifamily Exchange, we dive into the often-debated topic of listed versus off-market multifamily properties. Join me, Brandy Bryan, as I break down the pros and cons for both buyers and sellers in each scenario. We'll explore why some sellers choose to list their properties while others prefer the off-market route, and what this means for your investment strategy. Along the way, I'll share insights on how to navigate both markets effectively, whether you're a newcomer to the multifamily game or a seasoned investor.

From understanding the competitive landscape of listed deals to discovering hidden opportunities in off-market transactions, we'll cover it all. Plus, I'll give you practical tips on building relationships with brokers, identifying potential pitfalls, and finding your competitive edge in today's multifamily market. If you're looking to expand your portfolio or simply understand the dynamics of property listings better, this episode is for you!

Episode Highlights:

[0:00] – Introduction

[1:12] – The role of brokers in listed deals and why building relationships with them is crucial.

[2:49] – How brokers prepare and market listed properties and the competitive nature of these deals.

[4:35] – Why newer investors should focus on properties between 20 and 100 units.

[7:44] – An introduction to off-market properties and the unique opportunities they present.

[10:19] – The challenges of underwriting off-market properties and finding hidden value.

[14:16] – Reasons why brokers might pass on a deal, even if it seems profitable.

[17:47] – Tips for building trust with brokers and why relationships are key to success in multifamily investing.

If you found this episode valuable, please consider subscribing, reviewing, and sharing it with others who might benefit. Your support helps us continue to bring you insightful content each week. Thanks for tuning in, and we'll see you next time on the Midwest Multifamily Exchange!

In this episode of the Midwest Multifamily Exchange, we dive deep into the critical differences between recourse and non-recourse debt. Understanding these two types of debt is essential for anyone looking to grow their multifamily portfolio, especially when deciding how much personal liability you’re willing to take on. I break down the pros and cons of each type, from the flexibility and relationship benefits of recourse loans to the lower rates and non-liability advantages of non-recourse, or agency debt. Whether you’re just starting in multifamily investing or looking to expand your knowledge of financing options, this episode provides valuable insights to help you make more informed decisions.

Join me as I cover the key considerations, costs, and strategies for both loan types, and discover when it makes the most sense to use each one. Plus, I'll share tips on building strong relationships with lenders to secure the best terms for your deals. You won’t want to miss this comprehensive guide to navigating multifamily financing!

Timeline Summary:

[0:00] Introduction to recourse and non-recourse debt.

[1:13] Explanation of recourse loans: personal liability, approval process, and building bank relationships.

[4:30] Pros and cons of recourse loans: flexibility, higher rates, and negotiation tips.

[9:04] Overview of non-recourse (agency) debt: requirements, rates, and the broker process.

[13:10] Key considerations when choosing a broker for agency debt.

[16:03] Cons of non-recourse debt: higher upfront costs, legal fees, and prepayment penalties.

[21:11] Recap on why non-recourse might be the better option for larger deals.

If you enjoyed this episode and found it helpful, please consider subscribing, reviewing, and sharing the Midwest Multifamily Exchange with others. Your support means the world to us, and it helps us continue providing valuable content. See you next time!