MAKE IT RAIN: MULTIFAMILY REAL ESTATE INVESTING FOR MILLENNIALS

69. Justin Fraser | Path of Progress Investing & Asset Management

Justin Fraser, is an apartment syndicator and asset manager, responsible for managing multiple apartments across the country.

Justin Fraser has been a real estate investor since 2014 when he bought a single-family home as a rental property. For years, Justin flipped houses and owned single-family rentals until May of 2018 when he formed 88 Real Estate Capital and closed on his first apartment syndication, raising over $600K for the deal.

By September 2018, Justin exited his corporate job as a Project Manager and jumped full time into real estate investing. He found some excellent partners and is an active member of 6 apartment complexes holding over 1000 units. Justin built an asset management business, responsible for running the business of these apartment complexes.

THE MULTIFAMILY JOURNEY FOR WORKING PROFESSIONALS

Failing Forward with DeRosa Group Asset Manager Justin Fraser

This week we interview Real Estate Investor, Coach, Mentor, Speaker, Syndicator and DeRosa Group Asset Manager Justin Fraser. Did I mention Justin is also the host of one of my favorite new podcasts, True Multifamily?

This episode is packed with stories you won't hear on other podcasts! Justin shares with us his first major syndication, and how things got off to a rough start!

But, instead of giving up he worked hard to get the asset stabilized and back on track for his investors. He also talks about some things he's going to do to make it right with his investors, which is something every Limited Partner should look for in a GP group.

If you want REAL stories that don't always focus on what goes right, but what can go wrong, then check this episode out!

BUSINESS FOR GOOD

Episode 11 - Real Stories of Asset Management with Justin Fraser

EPISODE SUMMARY

Joining Megan Lamke in this episode of the Business For Good Podcast is Justin Fraser. Let’s hear from Justin as he dishes on the details about some awesome financial practices in the field of real estate investing that have allowed him to make money work for him and how he expresses his sentiments as an individual who cares deeply about other people’s financial success.

EPISODE NOTES

Justin Fraser is an apartment syndicator, asset manager, and real estate investor, responsible for managing multiple apartments across the US. He’s a general partner in six apartment complexes holding over 1,000 units. He also hosts his own podcast - TrueMultifamily, a show where he shares his learnings and experiences in the business of apartment investing and the real work involved after closing the deal. 

Justin has been in the business of real estate since 2004 and it all began when he bought a single-family home as a rental property. He then continued to flip houses and own single-family rentals until he formed 88 Real Estate Capital in May 2018 that got him to close his first apartment syndication deal worth $600K. This prompted him to leave his corporate job as a Project Manager in September 2018 and went full time into real estate investing where he found excellent partners that allowed him to build an asset management business responsible for running the business of his over 1,000 apartment complexes. 

Get more insights, tips, tricks, and best practices through storytelling by real asset managers and owners by listening to the True MultiFamily podcast at https://www.truemultifamily.show/

You can learn more about Justin Fraser on the following links:

• LinkedIn - https://www.linkedin.com/in/fraserjm/

• Facebook - http://www.facebook.com/TrueMultifamily

• YouTube - https://www.youtube.com/channel/UCY-7an_oDZfzYARORGigovA

• Instagram - https://www.instagram.com/truemultifamily/

• Twitter - http://twitter.com/JustinFraser

ASK ME HOW I KNOW:

MINDSET & MULTIFAMILY REAL ESTATE

Justin Fraser: Advice and Pro-Tips of an Asset Manager

Get your pen and paper, you're going to want to take notes on this one.
Justin Fraser is a man of experience when it comes to being an asset manager and has withstood the test of all kinds. From strategy to executing the plan all the way to a happy tenant, Justin shares his “ask me how I know” experiences.
It's not just looking at numbers, an Asset manager needs to want to invest, and be ok with going above and beyond. Whether a class A, B or C, all tenants deserve a 5-star experience. Invest in the amenities, have communication and host fun events. Keep the feeling of home with safety and security.
Keep in mind though, you want to start strong and do things right. With pro tips from Justin remember to have humility and be transparent when things get rough, it most likely won't go as bad as you think. Having a great team that is willing to be creative thinkers helps to keep the momentum moving forward.
Are you on top of what's happening with your properties? Or celebrating too soon?
When should you visit your property? And how involved do you need to be?
Why is it so important to have a GREAT bookkeeper? And keep finances clean and organized?
What should you prepare for in 2021?

Some elements you can control and others... well, having the right mindset will get you through.

HOW TO SCALE COMMERCIAL REAL ESTATE

Top Notch Real Estate Asset Management with Justin Fraser

Justin Fraser is based in New Jersey, invests in Kentucky and the Carolina’s, and currently holds about $55M in asset management in just a little over 1,000 doors, with an expertise in Asset Management. He runs his investment company with the purpose of syndicating apartment building purchases and providing above-average returns to investor partners.

[00:01 – 05:50] Opening Segment

• Let’s get to know Justin Fraser

• Justin talks about his background

  • Getting into real estate and finding his way into multifamily

• Justin’s transition from single-family small portfolio to multifamily syndications

• Getting his first deal across the finish line

[05:51 – 10:25] Getting that first deal across the finish line

• Finding his balance sheet partner

• Building up momentum

[10:26 – 22:29] 88 Real Estate Capital and Real Estate Asset Management

• What 88 Real Estate looks like today

• Property management

• Justin’s role as an asset manager

• Finding the right property management company

• The future for 88 Real Estate Capital

[22:30 – 25:22] Final Four Segment

• Justin’s advice to aspiring investors

• Meet and talk to as many people as possible that are doing what you want to do

• How he stays on top of his game

• His way to make the world a better place

• How to reach out to Justin– links below

• Final words

Tweetable Quotes:

“Meet and talk to as many people as possible that are doing what you want to do. Ask questions, build relationships, because those will be the people that will help you to where you want to go.” - Justin Fraser

“At the end of the day, I was really focused on bringing on whoever I needed to bring on to the team to get the deal done. I was more worried about getting the deal done, than getting rich off my first deal.” - Justin Fraser

“There are a thousand things you need in this business, if you want to get into multifamily. So figure out what they are, then get to the next step, just bring the people on. You’re not going to be able to do it all yourself, you can’t, especially when you get into the larger properties.” - Justin Fraser 

Resources Mentioned: 

• 88 Real Estate Capital

WEISS ADVICE

Asset Management with Justin Fraser

Justin has been an active real estate investor for 7 years. He started with single-family properties doing fix and flips, and in 2018, he founded a multifamily syndication business called 88 Real Estate Capital.

With his real estate experience and the mission to learn and spread knowledge from other real estate experts, Justin started his podcast called True Multifamily. He talks about all things "asset management" and brings in guests to share their expertise.

[00:01 – 10:44] Opening Segment

• I introduce and welcome our guest, Justin Fraser

• The value that podcasting has brought for us

  • Widening your network and a platform to continuously learn and share knowledge with others

• Justin gives a quick plug to PodMAX

[10:45 – 21:53] Asset Management

• Justin talks about asset management

  • The asset management process

  • The difference between asset management and property management

• What excites you about real estate?

• Justin shares what he looks for when finding a partner

[21:54 – 23:06] Goals for 2021

• Justin talks about his goals for 2021

[23:07 – 31:30] THE FINAL FOUR

• What's the worst job that you ever had?

  • Working at Burger King when I was 14 years old

• What's a book you've read that has given you a paradigm shift?

  • The Miracle Morning by Hal Elrod

• What is a skill or talent that you'd like to learn?

  • Being a better handyman

• What does success mean to you?

  • Success for me is the alignment of what I'm good at, what I enjoy doing, and doing what I can to support my family.

• Get in touch with Justin. See the links below.

• Final thoughts

Tweetable Quotes:
"My skill set is aligned with what makes me money and what I enjoy doing." – Justin Fraser

THE ROAD TO FAMILY FREEDOM

From 3 Single Family Homes to 1000 Multifamily Units with Justin Fraser

Justin Fraser – Multifamily Asset Manager and Host of the True Multifamily Show, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Justin is an apartment syndicator, asset manager, and real estate investor, responsible for managing multiple apartments across the country.

A real estate investor since 2014 when he bought a single-family home as a rental property. For years Justin flipped houses and owned single-family rentals until May of 2018 when he formed 88 Real Estate Capital and closed on his first apartment syndication, raising over $600k for the deal.

By September 2018, Justin exited his corporate job as a Project Manager and jumped full time into real estate investing. He found some excellent partners and is an active member of 6 apartment complexes holding over 1000 units. Justin built an asset management business, responsible for running the business of these apartment complexes.

He is also the host of True Multifamily, a podcast about the business of apartment investing, showcasing the real work that happens after a deal closes. His goal is to share insights, tips, tricks, and best practices through storytelling by real asset managers and owners.

In this episode, we talk to Justin about the partners he had to bring on in order to close on his first large multifamily deal, the details of what’s involved with being an asset manager, why he likes it when a tenant skips out on rent, the key to gaining knowledge in almost every real estate strategy.

THE MULTIFAMILY TAKEOFF

Episode 48: 1,000 units in 2 years and best practices for asset management with Justin Fraser

How quickly can you build a multifamily portfolio of 1,000 apartment units? Today’s guest was able to do it in just 2 years! Think you can do better? Listen in and see how our guest was able to scale so quickly.

Today’s guest is Justin Fraser. Justin bought his first single-family rental 6 years ago. He started with using his own money, then moved on to borrowing private money to buy more single-family homes. The cash flow was decent, but he soon learned the power of multifamily.

A guest speaker at his local meetup by the name of Matt Faircloth told his story of success with multifamily. Justin knew this was an opportunity to learn and grow. He added value to Matt by offering to locate, fund, and manage a multifamily property if Matt would lend his knowledge and expertise in the deal. Matt agreed, and that sparked a working relationship between the two that would lead to man more deals being closed over the next two years. Matt talks with us about how important it is to add value to others and ensure you and your partner’s skill sets complement each other.

We also get into the details of Justin’s specialty, asset management. Specifically, how he tracks and improves on tenant leads, how he manages his property manager, how he vets each member of the property management team, how he tracks the property’s capital, and so much more.

This episode is jam-packed with inspiration and asset management best practices. Don’t miss it!

GOING LONG PODCAST WITH BILLY KEELS

Episode 31: How To Go From Full Time Employee To Successful Asset Manager

In the conversation with today’s guest Justin Fraser, you’ll learn the following:

• [00:40 - 03:09] Justin’s profile, in Billy's guest introduction.

• [03:09 - 08:37] The backstory of how Justin got to where he is today.

• [08:37 - 13:20] What Justin learnt from managing properties himself, and how that knowledge and experience has helped today in investment syndication and asset management.

• [13:20 - 16:19] Justin's mission of sharing his knowledge and approach to asset management with others.

• [16:19 - 25:16] The positive impacts of having a mentor to guide you, how it works, and what to do to get yourself a good one (and what not to do!)

• [25:16 - 30:18] About Justin's own family support system, and how a husband and wife with busy schedules can make their marriage and family life run smoothly and stress-free.

Here’s what Justin shared with us during today’s conversation:

• Favourite European City: Reykjavik, Iceland.

• He currently lives in Central New Jersey.

• Best thing to happen in the past 24 hours: Enjoying a sunny day playing with a soccer ball, football and baseball with his 3-year-old son - a proud Dad moment!

• A mistake Justin would like you to learn from so you don't have to pay full price for it: He got himself the wrong property manager, and even though the person was vetted etc they didn't have the experience in managing the same larger sized properties in the same locations, which turned out to be of great importance, as the property manager didn't have the relevant experience and for that reason, he failed.

• Book Recommendation: Traction, Gino Wickman.

Be sure to reach out and connect with Justin Fraser by using the info below:

www.truemultifamily.show

www.88realestatecapital.com

Social media: @Justin Fraser

Podcast: True Multifamily

DISCOVERING MULTIFAMILY

Discovering Multifamily Episode 11: Scaling in Real Estate By Partnering With Justin Fraser

In this episode, we discuss the importance of partnering in commercial real estate, specifically with multi-family, with Justin Fraser of 88 Real Estate Capital.

THE MULTIFAMILY REAL ESTATE EXPERIMENT

MFREE 012: What does an asset manager do in multifamily real estate syndications? with Justin Fraser

Listen to Justin Fraser, the host of the True Multifamily podcast and the asset manager who works with Matt Faircloth, as he dives into how an asset manager oversees multifamily portfolios.

Justin has been a real estate investor since 2014 he started by flipping houses and owning single-family rentals until May 2018 when he formed 88 real estate capital and closed on his first apartment syndication, raising over $600 thousand for the deal.

Around this time he was laid off from his corporate job as a project manager and jumped full-time real estate investing.

He found some excellent partners and is an active member of 5 apartment complexes holding 675 units. In 2020, he launched True Multifamily which is a podcast that highlights the real-life stories, struggles, and successes of multifamily property owners, so you should definitely check out the True Multifamily podcast.

MILLENNIAL MILLIONAIRE REAL ESTATE PODCAST

#6 with Justin Fraser: No money no problem - Invest with other people's money

In this episode, Jonathan Farber interviews Justin Fraser on his strategies and successes in the real estate industry. Justin was involved in real estate while he was working full time and then turned it into high gear when he got laid off. He didn't let rejection stop him and surrounded himself with the right people to get incredible results.

Things you will learn in this episode:

• 8:00 - Commercial brokers only work Monday-Friday

• 9:05 - Finding properties, getting rejected and staying firm on an offer

• 12:35 - Private money & owner financing

• 18:03 - What do I say at networking events

• 19:28 - I need to work with bigger units and here's why

• 21:25 - How to get started and jumping in

• 22:27 - What is house hacking

• 23:54 - How to get into the door with credibility

• 26:40 - Have the capital and deciding which route to go

• 29:29 - Working with a partner or I need to know that guy

• 33:47 - What could you do if you focused on this full-time

• 37:42 - Be a small part of a big deal

• 40:12 - Everyone playing their part and do your job

• 41:35 - Raising capital and what that looks like

• 44:33 - Need something that is scalable to find investors

• 46:36 - Some investors are not always the right fit

• 49:42 - What does a typical day look like

• 52:07 - Websites, apps and planning to be successful

ENTREPRENEURS CIRCLE PODCAST

CAPITAL HACKING PODCAST

Capital Hacking Episode 8: Growing & Maintaining Human Capital with Justin Fraser

Justin Fraser is an entrepreneur and real estate investor. He is the owner and operator of 88 Real Estate Capital, Liberty Property Investing, and partner in On Air Brands. As Erik tips the food delivery guy, Justin talks to us about how he and Erik became business partners through the Bigger Pockets community, and how human capital is the the most essential component to any business. Justin also gives us tips on networking, finding the energy to go to meetings, and how to maintain professional relationships beyond starting a new venture.

Reference Links:

Justin on social:

Instagram: @justin_88realestate

Facebook: justin.m.fraser

YouTube: https://www.youtube.com/channel/UCY-7an_oDZfzYARORGigovA

Bigger Pockets

https://www.biggerpockets.com

Real Estate Guys Radio Podcast

https://realestateguysradio.com/

Grant Cardone’s 10X Growthcon

https://10xgrowthcon.com/

CASHFLOW NINJA PODCAST

Cashflow Ninja Episode 589: The Blueprint To Go From Real Estate Newbie To Real Estate Success with Justin Fraser

My guest in this episode is Justin Fraser. Justin is an apartment syndicator and asset manager, responsible for managing multiple apartments across the country.

Interview Links:

True Multifamily

BEST REAL ESTATE INVESTING ADVICE EVER SHOW WITH JOE FAIRLESS

JF1448: From Single Family Flips To A 40 Unit Syndication with Justin Fraser

Justin has been an investor for 4 years, but only recently went away from flipping homes. He decided he wanted to move into large apartment communities, and did it! If you want to do the same thing, hear what he did to complete his first syndication, so that you can do the same! If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!

Justin Fraser Real Estate Background:

• Real estate investor since 2014

• In May of 2018 he closed his first apartment syndication, raising over $600k for the deal

• Based in Milltown, NJ

• Say hi to him at https://www.88realestatecapital.com/

• Best Ever Book: The Due Diligence Handbook

RENTAL INCOME PODCAST WITH DAN LANE

Rental Income Podcast with Dan Lane Episode 180: He Survived An Eviction & His Tenants Flooding His Rental With Justin Fraser

Justin talks about how did all the right things with buying his rentals but had a few bad things happen to him in his first two years. He had to evict his first tenant and his second tenant flooded his property. On this episode, we talk about what happened, and what he learned.

THE REAL ESTATE SYNDICATION SHOW WITH WHITNEY SEWELL

The Real Estate Syndication Show Episode 9: Key Factors That Can Help You Find Success in Real Estate Syndication with Justin Fraser

In this episode, Whitney interviews Justin Fraser, Owner, 88 Real Estate Capital. Justin shares the various factors that have helped an inexperienced real estate investor like him find success in the syndication business. Would experienced syndicators be interested in partnering and mentoring complete newcomers? Does having the backing of an experienced syndicator help you get investors on board? We discuss the other KEY factors that have contributed greatly to Justin’s professional success. Tune in to learn more!

In this episode, you will learn:

1. Why real estate syndication is a better alternative to flipping properties

2. How to get an experienced syndicator to partner and mentor you

3. The art of raising capital for real estate syndication projects

PURCHASE TO PROFITS - REAL ESTATE INVESTING PODCAST

His First Multifamily Real Estate Syndication with Justin Fraser

Justin Fraser has been investing in real estate since 2014, and just closed on his first apartment syndication in early 2018. He’s also known to be a sledgehammer enthusiast.

THE BROKE IS A CHOICE PODCAST

The Broke Is A Choice Podcast Episode 13: Justin Fraser

Justin Fraser has been a real estate investor since 2014, when he bought a single family home as a rental property. He then formed Liberty Property Investing to flip houses and hold rental properties. In May of 2018, Justin formed 88 Real Estate Capital and served as the Key Principal in closing on his first apartment syndication, raising over $600k for the deal.

Justin recently left full time employment as a PMP-Certified Senior Project Manager, where he was managing projects in excess of $1 MM, and has started an Asset Management business with over 400 units under management. Justin also runs the local REIA- South Jersey Investors Association - Princeton, which regularly has over 50+ attendees. He has been a speaker at the Project Management Institute Global Congress, and regularly speaks at local real estate investing meetups. Justin has been featured on multiple investing podcasts and is always willing to talk real estate with whoever will listen. Justin also coaches new investors on how to get started with their first real estate deal. Justin is always looking for partnership opportunities and to add rockstars to his team.

ARTICLES

MEET THE TOP 10 REAL ESTATE EXPERTS TO FOLLOW IN 2022 (Excerpt)

From the Bay Area to NYC and Southwest Florida, these real estate experts provide top-tier quality service to their clients and make a difference in their communities.

TOP 10 RISING COMMERCIAL REAL ESTATE PODCASTS OF 2021 (Excerpt)

The commercial real estate market continues to be the #1 strategy for smart investors. More than ever, aspiring entrepreneurs and passive investors are choosing this path to achieve their goals.

Commercial real estate can offer cashflow and a path to financial freedom IF you do it right. The IF is really important, because investing in this world has huge, often hidden, pitfalls.

Before diving in real headfirst, it’s important that you are well-versed in the field and have a solid base. This will help you avoid a lot of mistakes, and put you on the right track. Below, are the top 10 real estate podcasts that will help you do just that!

3 TOP REAL ESTATE INVESTORS SHARE THEIR BEST INVESTING SECRETS (Excerpt)

See how these top real estate investors figured out how to grow their real estate portfolios in a hurry.

How is it that some real estate investors are able to grow their portfolio with one successful investment after another while others are still struggling to turn a profit on their first single-family rental? We wanted to find that out directly from the investors who have been growing their portfolios at an incredible rate.