No matter your level of experience in the world of real estate investment, there are always avenues to explore that can take you and your business to the next level. Today on the show we have the wonderful and insightful Deepa Reddy Akula, and she shares a host of lessons she has learned on the way to becoming a general partner! She speaks about the time she spent in the role of limited partner and then transitioning beyond this, as well as the deep learning and research that she put in before even touching her first deal! Deepa's journey in the world of real estate is a great example of an organic and easeful approach to making money with friends and family and a network built around word of mouth, and in our conversation, we hear how the important milestones in this process played out. We also cover capital raising, underwriting, and the practices that keep her business healthy and ticking over. Join us to catch it all!
Key Points From This Episode:
- Deepa's path into working as a limited partner and then as a general partner.
- The preparation and process that Deepa went through before her first deal.
- Recommendations for evaluating potential partners; starting with familiarity, communication, and a good track record!
- Tips and ideas for building the right team for aspiring general partners.
- Deepa's approach to underwriting, and understanding what conservative means in this context.
- Explanations of interest rates, variable loans, and rate caps, and how these influence the underwriting process.
- The importance of weekly calls in the maintenance of Deepa's professional relationships.
- Deepa's capital raising philosophy and process, and charting its past and future evolution.
- Common themes that come up in Deepa's investor relationships and communications.
- Lessons that Deepa has learned juggling her different roles as a general partner, mother, and wife!
- How to level up your financial literacy and why Deepa prioritizes this in her own life.
- Resource recommendations for learning more about a healthy money mindset.
Links Mentioned in Today’s Episode:
American Society of Civil Engineers
Passive Income Through Multifamily Real Estate Facebook Group
