Ryan McKenna was introduced to syndications in 2002 and spent 15 years studying and investing passively before taking an active investor. Ryan is the founder of McKenna Capital, a private equity firm that helps investors to become passive equity partners in institutional-quality, recession-resistant, real estate. Focusing on value-add multifamily, self-storage and manufactured home parks, McKenna Capital has helped investors allocate capital across 5,000+ units with a combined asset value over $500,000,000. On today’s episode, he shares his tips to raise millions and his principles for vetting an operator.
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Key Market Insights
- Got involved in real estate syndications back in 2002 while playing baseball at Arizona State through a teammate’s father
- In 2006, began with single family rental in Arizona
- Realized he couldn’t scale with single families
- 15 years of studying and learning before starting McKenna Capital
- Began investing with his mentor and decided to bring other investors into the deals
- Built a list of 250 people in his network and only 5 said I’m not interested.
- Relationships with 7 operating partners
- 12 deals in 2018: 9 multifamily, 2 self-storage, and 1 mobile home park
- Ryan’s tips on raising capital – build a reputation as someone people would bet on
- What Ryan seeks in an operator: Character, track record, communication, team and business plan
- Sees investor interest continuing to expand
- Partnering with multiple operators allows for diversification
- Buying B and C class, value-add multifamily, self-storage and mobile home parks, which tend to do well during recessions
- Manufactured home parks are more tailored towards retirees
- Mobile home parks way more demand than there is supply, but they are extremely affordable
Sponsor: Be sure to check out the #InvestThis Podcast with Scott Bower
Bull’s Eye Tips:
Winning Your Market: Build your brand
Tracking Market Changes: Buy in markets with population and job growth
Daily Habit: Daily gratitude journal
Resources:
Best Business Books:
Best Ever Apartment Syndication by Joe Fairless and Theo Hicks –
Digital Resources
Tweet This:
“It’s my mission to spread the word on real estate”
“The best way to start and raise money is to gain experience investing in someone else’s”
Places to Grab a Bite:
Connect with Ryan:
Website: Mckennacapital.com
Email: ryan@mckennacapital.com
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