172: Breaking Into Apartment Investing with a 100-Unit First Deal with Jonathan Twombly | Bigger Pockets Podcast

Have you ever dreamed of owning large apartment complexes? If so, don’t miss this powerful interview with Jonathan Twombly, a real estate investor whose very first deal had over 100 units! You’ll learn why Jonathan skipped the “small deal phase” and jumped right into big deals — and how he’s gone from nothing to over 400 units in the past several years. This show offers an incredibly realistic view of what it actually takes to break into the apartment complex market!
In This Episode We Cover:

How Jonathan got out of the law industry and into real estate investing

The partnership that changed his life

How you can always find deals within 100 miles

The details of Jonathan’s first deal

What to do when someone cancels the deal

How financing contingency works

How he structures his deals

Tips for establishing yourself with brokers

The due diligence list to show to brokers

The importance of asking your friends for introductions

Why you should focus on the relationship aspect of investing

The details of Jonathan’s first successful deal

Why you should consider buying the “unsexy” properties

Tips on looking for deals

How he makes money through syndication

His strategy on making 400-unit deals

How he manages properties

What you should know about underwriting a deal

Things he would done differently if he started all over again

And SO much more!

Links from the Show

BiggerPockets on Google Play

10 Things To Do Before Doing Your First Deal (blog)

Books Mentioned in this Show

The Wall Street Journal. Complete Real-Estate Investing Guidebook by David Crook

Logistics Clusters by Yossi Sheffi

The War of Art by Steven Pressfield

The 4-Hour Workweek by Timothy Ferriss

Tweetable Topics:

“You don’t know what the heck you are doing, but you’ll figure it out when you start somewhere.” (Tweet This!)

“If you are a new investor, it’s not about how much money you have but about how many deals you have closed.” (Tweet This!)

“Persistence is 90% in business and then the other 10% is not being an idiot.” (Tweet This!)

Connect with Jonathan

Jonathan’s BiggerPockets Profile

Jonathan’s Blog

Jonathan’s Company Website

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