Episode 217 - First Time Apartment Buyers Give Advice on Acquiring a 48 unit building in Syracuse, NY.

Julie Peterson with Old Capital speaks with first time apartment sponsors Gary VanBortel and John Bilinski on their recent purchase of a 48-unit building right before the coronavirus hit. These former single-family investors met at a national multifamily conference and decided to become partners in acquiring apartments. This journey took a few twists over a few months. The seller was in legal trouble, title company would not insure title, initial lender backed out, original property manager was too small for the acceptance of Freddie Mac, asbestos in the floor tiles, and, and, …and. Yikes!! Listen to how they overcame these obstacles and succeeded in closing. Oh, by the way…Then coronavirus hits the month after closing. Great story. To contact Gary VanBortel or John Bilinski: RocCapitalGroup.com To contact Julie Peterson: [email protected] Please leave us a 5 STAR RATING on iTunes; if you enjoyed this podcast. Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker’s Real Estate Syndication business with SPI Advisory LLC.