RCRE – The Compound Effect with David Toupin
Dylan and Mike interview David Toupin, the co-founder of Obsidian Capital, an Austin Texas based real estate investment firm. David started investing at the age of 20 in Michigan where he bought his first property in college, a 12 unit apartment complex. Prior to graduating with a Finance degree at the University of Detroit Mercy, David had acquired $7M in multifamily real estate holdings.Key Information:
Always hustle whether it is using cold calls or mailers to find deals
Ask yourself “How Can I do this?”
David is looking to develop multifamily properties because the cap rates are being compressed
Focus on one thing
One deal doesn’t set you free, multifamily is a long game
Manage the property managers to make sure you understand your cash position, budget, and turns
Partnerships are similar to marriages, build the foundation by aligning values & investing views
“If you had a blank check what would you do to this property?” -David Toupin
Relationships are everything in business
Expert Pro Tip: Constantly practice underwriting by reviewing a T12 and Rent Roll. Keep your model simple
Contact Information:
@realestatejedi
https://www.obsidiancapitalco.com/
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