Prosperity Through Multifamily Real Estate Investing

Why You Should Consider Multifamily Development with Shannon Robnett

November 18, 2020 Cody Laughlin Episode 43
Prosperity Through Multifamily Real Estate Investing
Why You Should Consider Multifamily Development with Shannon Robnett
Show Notes

The value-add opportunity is becoming increasing difficult to find in today’s market cycle. Some would even argue that the commercial real estate space has become even more competitive now vs pre-COVID times. Yields are steadily declining as valuations continue to climb. Well, multifamily development may be a considerable alternative to buying an existing asset. 

Our guest today is Shannon Robnett, a top multifamily developer and CEO of SRI, an Idaho based commercial real estate development company. With more than 40 years of experience and more than 500 buildings in his career, Shannon has developed over $200 million of real estate across various asset types. Shannon shares his investing thesis and why he feels ground up development is a more compelling investment strategy on a risk adjusted basis. 

So how does one get started in multifamily development?

What resources do you need to complete a multifamily development?

What are some of the barriers or challenges top multifamily developers face when completing a multifamily development? 

How do you source equity for a development project?

Multifamily developers have a big impact in shaping the future of our cities and our communities!

Shannon covers each of these points and so much more in this information packed episode!

Final Four Questions:

1.     What do you like to do for your continued education to further your investing?

Shannon: “Every day, I listen to audio books. You have to continue to grow and learn. You can learn so much from other peoples’ experiences and who are specialists in the area. If you are not continuing to grow, then it’s at that point you begin the process of dying. Get involved with others who are doing things you don’t fully understand. Seek out others who know more than myself.”

 2.     What have been some of the lasting lessons that you have learned along your journey?

Shannon: “Good contracts make great friends! Get things in writing! Great partnerships lead to great friendships.”

 3.     What advice would you give to the listeners to help them grow their businesses?

Shannon: “Ask everybody. You may ask 10 different people the same questions and get 10 different answers but don’t try to do this yourself. Partner with seasoned professionals that have done this before and learn from others. I haven’t met someone in the multifamily space that isn’t willing to help. Take advantage of that and get involved in other people’s syndications before you start your own so you can see how everything is being done and get that lesson upfront.”

 4.     How can the listeners learn more about and get connected with you?

Shannon: 

www.shannonrobnettindustries.com

www.myverticalequity.com

Resources mentioned in this episode:
Though Leadership Platform:
Podcast: “The Real Estate Rundown”

Social Media:

Facebook: @shannonrobnettindustries

Instagram: @Shannonrayrobnett 

YouTube: @MrShannonrobnett