Mon, 20 January 2020
Think you need to be a Lone Wolf on your first multifamily deal? Brian Briscoe was looking at 6- and 8-unit multifamily deals until he realized he could go bigger, faster if he had help. And he was right. Brian joined the Michael Blank network, and 11 months later, he had joint ventured on a 55-unit deal and had another 33 under contract! His team is looking to add another 500 units to their portfolio in 2020.
Today, Brian is the Director of Operations at Four Oaks Capital, a multifamily investment firm specializing in the acquisition, repositioning and rebranding of apartment buildings via a private equity fund structure. Since joining forces in June of 2019, his team of four has acquired 88 units and has another 80 under contract. Brian also serves as the Western Hemisphere Affairs Officer for the United States Marine Corps.
On this episode of Apartment Building Investing, Brian joins me to explain how he found his current partners through our network and discuss how they did three deals in 15 short months! He shares how Four Oaks Capital found its first deal and what they did to overcome a major hurdle (with help from an experienced mentor) just nine days before closing. Listen in for insight into how Brian and his partners have defined their individual roles in the company and learn how YOU can leverage joint venturing to accelerate your multifamily success.
What inspired Brian’s interest in multifamily
The timeline around Brian’s first three deals
How Brian built credibility with brokers
Four Oaks Capital’s first 55-unit deal in Spartanburg, SC
The snag Brian’s team faced in closing their first deal
The role mentors played in Brian’s first deal
Four Oak’s Capital’s second deal
Brian’s insight around The Law of the First Deal
How Brian’s partners defined their individual roles
Four Oaks Capital’s plans to scale
What facilitated Brian’s mindset shift
Brian’s advice for aspiring multifamily investors
Connect with Brian Briscoe