How One Deal Can Increase Your Skills Exponentially with Kartheek Mulpuri

Kartheek Mulpuri is the Managing Partner of Sixth Sense Equity. Sixth Sense Equity is a General Partner in two multifamily properties totalling 74 units in Hampton, VA and Columbia, TN & four mobile home parks across the Southeast totaling 528 lots. 

The firm also holds Limited Partner stakes in an institutional multifamily asset in the Dallas MSA and an industrial asset focused on the cannabis space in Michigan. The firm's core focus is value add class B and class C properties in Virginia and the Carolinas. 

For today’s episode we will cover: 

[00:00 - 4:23] Opening Segment.

• Getting to know Kartheek Mulpuri.

[4:23 - 11:05] syndication vs institutional space in raising capital.

• Similarities and differences between venture capital and commercial real estate. 
• Why you should bet on the jockey and not on the horse

[11:05 - 20:31] Finding the deal and building the team.

• How Kartheek met his business partner.
• Finding the first deal.

[20:31 - 27:16] Understanding the current market.

• Seeing the current trends and possible future trends.
• How to position yourself strongly in the market.

[27:16 - 37:28] The negotiation to get the deal and closing it.

• Using data for renegotiations to sway things to your favor.
• Knowing the risks and how to move forward.
• Finding the middle ground.

[37:28 - 43:21] Raising the equity and the syndication structure.

• The ways to get the equity that you need.
• Knowing the type of transaction at the beginning.  
• Equity split between the LP and GP.
• Putting the investor’s interest first when structuring a deal.
• Being the deal expert when talking to investors.
• The challenges during raising the equity.

[43:21 - 49:43] The priorities after taking over

• The first thing to do after taking over a property. 
• The checklist that you have to look at.
• Why the first year is crucial for a long term gain.
• Navigating through uncharted waters to make good operators in great ones.
• How to get people to stay in your property.
• Assessing your risk tolerance.

[49:43 - 55:03] Closing segment

• The various ways to become a better investor.
• Knowing your strengths and weaknesses.
• Final words from everyone

Tweetable Quotes: 

Figure out what your strengths and weaknesses are and use those to build an ideal team as you can to tackle a project. - Kartheek Mulpuri

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