Here's What to Focus on for 2022 with Kent Ritter, Ep. 355

Kent is the CEO of Hudson Investing and since 2017 he has acquired 617 units valued at $51 million dollars. Before this, Kent was a partner in the private select business unit within the multifamily private equity firm Birge & Held. The firm currently has over $1.5 billion dollars in assets under management made up of over fifteen thousand units.   Let’s dive in to learn more about what to focus on in 2022 and how has Kent achieved what he has achieved after leaving “Birge & Held”.   Announcement: Download Our Sample Deal and Join Our Mailing List   [00:01 – 06:35] Opening Segment  Kent talks about his background. Kent’s experience with management and consultant space and how that translated to real estate. How he got started with his real estate investing career. [06:35 – 11:34] Multifamily and Birge & Held What ultimately led Kent to multifamily Apartments vs Single-family homes How being a part of Birge & Held Asset Management helped Kent to grow. Lessons learned at Birge & Held. How Kent decided to leave Birge & Held and move forward on his own. [11:34 – 27:14] What to Focus on Kent talks about what markets they are focused on. Why Kent decided to focus on the midwest versus chasing the hot markets. Why you have to look at things differently in 2022 Kent breaks down where market research and rent comps become important. How Kent changed his underwriting The importance of understanding the return on the money you are going to invest. Why understanding the demand in a market is the key measure.   [27:14– 33:54] Round of Insights Apparent Failure: The lender dropped out on the day of closing a deal.   Digital Resource: Calendly and monday.com   Most Recommended Book: Think Again   Daily Habit:  Meditation   #1 Insight for Multifamily Investing Start with the market and the submarket before you even get into the underwriting model.   Best Place to Grab a Bite in Indianapolis  Three Up   Contact Kent: To learn more go to Kent’s website.   Tweetable Quotes: “If I work for you I can never be you.” - Kent Ritter   "You can't really look at what the property has historically done." - Kent Ritter   Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.