4 Steps to Go from Multifamily Newbie to Pro with Dylan Palmer, Ep. 346
Dylan Palmer is a rising real estate investor who just relocated to Lexington, KY. he is responsible for sourcing and analyzing potential new multifamily investment acquisitions for Urban Renewal Partners. Dylan understands how to interpret economic and population trends to affirm markets for value-add investments.
During his time at Urban Renewal Partners, Dylan has successfully assisted in the development and completion of the acquisition and underwriting for multifamily properties. Dylan used a 4-prong approach to make strides as an investor: networking, finding a mentor, focusing on a market, and underwriting deals.
Let’s dive in to hear more about the importance of underwriting and networking.
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[00:01 – 04:34] Opening Segment
- Dylan talks about his background.
- How his family inspired him to start his investing journey.
- How he decided to get into commercial real estate and how he started.
[04:34 – 11:23] From Multifamily Newbie to Pro in 4 Steps
- What Dylan did to leverage Linkedin to create a network of investors, brokers, etc.
- The value of investing your time into building relationships and finding ways to add value to other people.
- What made Dylan go to Kentucky from California
- The importance of focusing on one or two core markets when starting out
- Why building good relationships with either owners or brokers is crucial.
- How he benefited from working with Urban Renewal Partners
[11:23 – 36:24] Underwriting for Mixed-Use Assets
- How Dylan kept underwriting deals for nine months until one of them worked and the value he got from that process.
- Investing in a mixed-use asset and its benefits.
- What elements change in a mixed-use asset’s analysis.
- Dylan talks about what makes the Lexington market special.
[36:24 – 46:35] Bullseye Round
Underwriting deals for 9 months without any results.
Most Recommended Book:
How inflation is going to have an impact
I Wish I Knew When I Was Starting:
To focus on one or two markets.
Best Place to Grab a Bite in Lexington
Reach out to Dylan through his email or text him at (714) 403-9465
“By putting in your time with fewer people - you are more likely to see better opportunities that are off market and potentially a good deal.” - Dylan Palmer
“Having that mentor and team around me really gave me the confidence and really the ability to communicate effectively with brokers.” - Dylan Palmer
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