JF3666: Navigating 400 Evaluations for 2 Deals, $1M Renovation Plans, and Leveraging Third-Party Management ft. Paul Montelongo
Paul Montelongo, founder of Montalongo Capital, discusses his focus on acquiring value-add multifamily properties in Texas, Kansas, and Alabama. He shares that their business plan involves putting about a million dollars worth of improvements into each property and holding them for five to six years. Paul emphasizes the importance of staying nimble in the current market and building strong relationships with brokers and referral sources to find deals. He also discusses the benefits and challenges of third-party property management and the trend of vertical integration in the industry. Paul shares his experiences and lessons learned from past deals, highlighting the importance of staying in your lane and having a clear business plan. He advises investors to evaluate deals and put in offers, taking advantage of the current market conditions. Paul Montelongo | Real Estate Background Founder Montelongo Capital, LLC Portfolio: 1106 Units Based in: San Antonio, TX Say hi to him at: Facebook Instagram LinkedIn Sponsors: Altra Running Apartments.com Learn more about your ad choices. Visit megaphone.fm/adchoices