Kyle Wallitner, co-founder and managing member of Greenlight Investment Group, is a GP on over 10mm in commercial real estate. Over the last few years Kyle has demonstrated a strong track record of profitable acquisitions and exits in the commercial residential real estate space.  

As co-founder, Jeff Drasin has been crucial in the success of Greenlight's ability to effectively scale to over 200 units in 2 years. He has served in the Air Force and holds two Master's degrees, one in Psychology and another in Business Administration.  

The Greenlight Investment Group offers the comprehensive capabilities and deep industry knowledge necessary to help simplify your commercial real estate investing career. In this episode, they will walk us through their turning point when they joined the real estate world, the asset from acquisition to exit, and how they ensure a safe and efficient investing commute for their investors. 

Episode Links: 

https://www.greenlightinvestmentgroup.com/  

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Transcript

Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals. 

 

Michael: 

What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today with me, I have Jeff and Kyle from Greenlight Investment Group and they're going to be talking to us today about what it's like to scale in the pandemic, and then ultimately end up doing commercial multifamily syndications. So let's get into it. 

 

Jeff, and Kyle with Greenlight investments, thanks so much for taking the time to hang out with me today. I really appreciate you both coming on. 

 

Kyle: 

Yeah definitely, appreciate it. 

 

Jeff: 

Thanks for having us, Michael it’s good to be here. 

 

Michael:  

Yeah, totally. So for anyone that might not be familiar with your guys's story, or what green light investments is, would love for you to just give us a quick background and bio about yourselves in the company? 

 

Kyle: 

Yeah, so Greenlight investments. We were right now a small scale investment group we were in small scale syndications, we focus on commercial multifamily 20 unit to 100 unit properties in the Kansas City, Missouri area. 

 

Michael: 

Love it and how did you guys get started? I mean, do you guys have real estate backgrounds yourselves or did you learn about the real estate investing business, like, yeah, I could do this… 

 

Jeff: 

Kyle actually had started, he had some rentals when we worked together at the airport, and I kind of was eavesdropping and I was like, I like what he's doing. And I already had an interest, didn't really know at the time that I had already owned my first rental I was living in it. But I ended up not living beneath my means not having to sell it when I bought my next house and that's kind of got the ball rolling. 

And so Kyle, and I started sort of in earnest, I overheard them talking about it, and I was gonna take a loan out of my 401k to, you know, leverage it to get some kind of asset and so I thought cool, we'll split a four Plex. And I thought, man, we are rich, we just bought a four Plex. And we're always like, we're gonna make 10s of dollars a month. No, it was that it was just such a you know, it's just a very big, you know, triumphant thing. We didn't really, we didn't know how to we didn't know what we didn't know, which was kind of the fun that we were sort of naive. But it was it was a good time and I thought, well, seriously, we're gonna make $700 a month. But we forgot to factor in things like, I don't know, repairs and maintenance, those types of things… 

 

Michael: 

Yeah the litt