Ep. 19 | Building Wealth through Multifamily Communities with Christopher Grenzig

Christopher is the Founder of JAG Communities which is a vertically integrated multifamily-focused investment firm based in Jacksonville, FL. Chris started investing in real estate in 2016 by attempting to flip houses in Long Island, NY. After months of failing, he attempted out-of-state flips, purchased tax deeds, and finally found his footing in multifamily. Chris JV’ed on over 100 units, before joining Toro Real Estate Partners as their head of Florida operations. During his 4.5 years at Toro, they purchased 4000 units worth $300 mil, with 1000 units in Florida. Chris eventually left Toro in Nov 2020 to start JAG which owns and manages small to mid-sized apartment complexes in Jacksonville, MSA. JAG Communities currently owns and manages 60 units worth over $6.5 million, with another 52 units set to close in Q1/Q2 of 2022 worth over $8.5m. Chris has a 10-year plan to scale to $500 million worth of real estate owned

[00:01 - 14:09] Opening Segment

• Introducing Christopher to the show
• Chris Grig founded JAG communities, a vertically integrated multi-family focused investment firm
• JAG communities own and manage small to medium size apartment complexes in the Jacksonville Florida MSA
• Chris has a 10-year plan to scale JAG communities to 500 million worth of real estate
• How a house flipper turned to real estate investing

[14:10 - 36:00] Transitioning to Becoming an Operator

• Chris talks about the challenges and the rewards of the transition
• Operations are the biggest part of the industry
• Most of the time is spent on deals renovating 
• A potential development project in Houston, Texas 
• Each quadplex would have its private backyard and two or three-story layout

[36:01 - 49:31] How to Create A Successful 10-year Real Estate Plan 

• Chris started looking at buying his deal in early 2020 and was able to find one in orange park, FL within 60 days
• Chris is vertically integrated and plans to buy only a handful of properties per year
• Test your market first
• Chris discusses the importance of market research before starting a business
• Hiring managers and regional representatives

[49:32 - 63:25] Jacksonville's Emerging Market

• Chris discusses the pros and cons of doing smaller deals
• Chris's plans on staying in Jacksonville

[03:26 - 04:53] Closing Segment

• See the links below to connect with Chris
• Final words

Quote/s:

"Just really enjoy this moment you're going through because as you grow and get bigger and bigger you're gonna look back and be like, ‘man those are the best times where at ground zero when you're just forming all this’." - Christopher Grenzig

Connect with Chris on LinkedIn, Facebook, or visit www.jag-communities.com

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