JF1385: Evaluating Value-Add Apartment Syndications with Ben Risser

<p><span style="font-weight: 400;">Ben has been building his real estate portfolio since 2010, and is here today to walk us through his process for evaluating and underwriting a value-add syndication. As an aerospace engineer, Ben is very thorough and methodical in his approach to underwriting, which is a fantastic as a listener looking to learn more about the value-add apartment syndication process.</span> <span style="font-weight: 400;">If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review!</span></p> <p> </p> <p><strong>Best Ever Tweet:</strong></p> <p><span style="font-weight: 400;">“The cops were advised to stay away from the property” - Ben Risser</span></p> <p> </p> <p><strong>Ben Risser Real Estate Background:</strong></p> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Syndicator of commercial real estate and business consultant</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Began building real estate business in 2010 and has syndicated $7 Million in commercial real estate</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Based in Lititz, PA</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Say hi to him on Facebook and LinkedIn as “Ben Risser”</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Best Ever Book: Rich Dad, Poor Dad</span></li> </ul> <p> </p> <p><strong>A couple of notes from Ben:</strong></p> <p> </p> <p><span style="font-weight: 400;">“One thing I stated that I would clarify, regarding being conservative on rental upside.  I underwrite to a lower upside until I have more experience in a given market, or have collected a sufficient quantity and quality of data to increase the statistical confidence in the rental upside estimate.”</span></p> <p> </p> <p><span style="font-weight: 400;">His revised “Biggest Mistake Ever in Real Estate” answer:</span></p> <p> </p> <p><span style="font-weight: 400;">"Buying a fixer upper house, under the condition w