Multifamily Insights: Ep. 44: How to Acquire 85 Units by Age 23 with Chris Salazar

While his peers were cutting class to kick back and enjoy the perks of college life, Chris Salazar was cutting class to learn more about real estate. At just 23 years old, Chris has already amassed an 85-unit portfolio in the Quad Cities. He is the co-founder and partner at Arsenal Properties investing in single and multifamily properties. With his commitment to learning and passion for real estate, he is helping other ambitious Millenials expedite their growth in real estate.

Key Market Insights

Cut class to spend more time learning about RE
Started investment club in college
Did first wholesale deal at 20
Quad Cities: Rock Island, IL, Davenport, IA, Moline and East Moline
400k population in Quad Cities
Finished under grad in 2016 with Accounting and Financing major
Interned at accounting firm, but spent it talking about real estate
Worked for a flipper in the Quad Cities, doing acquisitions
Found an equity partner through a friend
Hustle and track record convinced his friend’s parent to invest with him
Quad Cities is a cash flow market, appreciation is not there, but still seeing strong returns
Major employers: John Deere, Rock Island Arsenal, Genesis Health System
Illinois side has higher taxes, so many investors prefer the Iowa side
Chris prefers the college areas of Augustana and St. Ambrose
Creating a luxury apartment complex on campus to meet demand
Launching “Millennials and Mentors” podcast to podcast to help other millennials get into real estate
Looked in NW Chicago neighborhoods like Avondale, but found stronger cash flow returns in Quad Cities