Preston Spainhour is a Multifamily Apartment Syndicator with over 670 units and $63 Million (AUM). His passion is to help busy professionals retire early with passive investments while partnering with investors to acquire cash-flowing multifamily assets.
Preston is a Co-Founder and managing partner of Well Capital. Over the last four years, Preston has focused on acquiring and repositioning multifamily properties throughout the Southeast and the Midwest, building a 500-unit portfolio with a market value of $49 million. Before founding Well Capital, Preston was a HAZMAT response and containment consultant specializing in rapid-response projects for the most recognizable names in the oil and gas industry. Specifically, he was tasked with containment and data collection, with litigation preparation in mind, allowing him to bring a battle-tested risk mitigation mind to the multifamily space. Following rapid-response consulting, Preston managed over $100 million in construction projects, participating in CDBG flood rehabilitation programs in Texas, Florida, and South Carolina. With extensive construction management experience, Preston is responsible for executing asset diligence and repositions within Well Capital’s portfolio.
Eric Lindsey(Host)
Click On Link Below To Access My Moonlight Introduction Into Apartment Syndications E-book: https://moonlightcre.com/ebook_download/
Website: Moonlightcre.com
Click On The Link Below To Schedule A Call With Eric:
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During this episode, you will learn about:
[01:10] A bit about Preston Spainhour and how he got into real estate
[05:14] Properties he was able to purchase while doing his 1099 Job
[06:54] How Preston juggled the process of finding, negotiating, and closing three deals while working full-time
[10:27] His tactics for interacting with brokers
[12:37] A breakdown of one of Preston’s deals
[20:10] How Preston and his team have adjusted to the changing markets
[24:25] Things Preston advises you avoid before starting in real estate
[28:03] How long it took Preston to transition from his W2 job to full-time real estate investing
[32:31] With a limited amount of time, how can you start a successful real estate business like Preston’s
[34:35] How you can scale that business to the next level and even make more money
[36:31] If Preston was down to just $100, what would he do to start making money ASAP
[38:05] Book recommendations by Preston
[39:16] How you can reach out and connect with Preston Spainhour
Notable Quotes:
- It’s a great thing to pursue a flexible job. You will have lots of opportunities to try your side gigs and grow financially.
- Work for someone who pays you to learn.
Resources Mentioned:
The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime by MJ DeMarco: https://www.amazon.com/gp/product/B004BDOUAI/
The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications by Brian Burke: https://store.biggerpockets.com/products/the-hands-off-investor
Let’s Connect:
Preston Spainhour
Website: https://wellcapitalinvest.com/<<