Ep. 205: How to Build Trust with Multifamily Investors with Kristen Ray

Dr. Kristen Ray is a family nurse practitioner and co-founder of Vital Investment Partners. To pay for her schooling, she used a cash-out refinance on rental properties she inherited. She continued to build a real estate portfolio on the side and recently completed a multifamily syndication of a 146-unit apartment community in Columbia, SC. Dr. Ray had to overcome various challenges, including a failed student housing deal, but this did not deter her investors. She shares how she managed to build trust and confidence through these challenges, leading to her first syndication. In addition, she shares how she cultivated her connections in the medical field and info on her target markets.

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Key Takeaways:

From Ph.D. nurse practitioner to starting in real estate with inherited properties
Master Multitasker: Working full time, going to school and raising children while starting her investment journey
Just say no to student loans: Kristen paid for her Masters with cash flow from her apartments through a cash-out refinance
Working with B- and C+ properties, to avoid subsidized tenants
How to handle the long road of rejection and failed investment deal attempts
Closing on 146 units in Columbia, South Carolina in March of 2020
Transitioning from duplexes to larger multifamily investments
Raising capital lessons from a failed multifamily student housing deal
Lost her earnest money deposit (EMD) but kept her integrity and still paid a return to investors
Turning failure into success by jumping on the next opportunity
Cultivating investor relationships in your professional field
How to talk about your investment opportunities to coworkers, colleagues and industry professionals
Kristen’s favorite real estate markets and why. Columbia, Charlotte, Texas, Knoxville
Tips on structuring a partnership with passive investors
Ways to build trust with investors