Trion Property Management
Trion Property Management – Tools and services to help you find high net worth investors for your deals and grow your business.
With more than $1 billion in AUM, Trion Properties is a national, 17-year-old multifamily real estate investment sponsor that buys, redevelops multifamily properties and provides high-yield passive income for accredited investors. Our multifamily investment strategy is to acquire opportunistic investments in properties that require moderate to heavy renovation over a medium to long-term investment horizon. Vertically integrated, we often heavily renovate and then manage our properties to control costs and maximize resale value.
Trion Property Management
Founded in 2005, Trion Properties is a private equity investment firm focused on maximizing investor returns by increasing net operating income over the life of the property. In terms of results, Trion has generated an average internal rate of return in excess of 30%. And we’ve done that in good markets and bad because we’re a private equity fund.
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Trion acquires, acquires and manages all of its properties using a methodology that is highly resilient to recessions, etc. Trion only accepts accredited investors of $50,000 or more, allowing us to focus on select properties that will offer passive investors the greatest return on investment. And we give our money, so to speak, invest our own funds, so when we do well, our investors do too.
Max Sharkansky, co-founder of Trion Properties, oversees all aspects of property acquisition, disposal and analysis for Trion Properties. Since founding Trion Properties, Max has led the purchase … read more
Mitch Paskover, co-founder of Trion Properties, is responsible for the company’s financial activities, including work in acquisitions, disposals, asset management and expansion planning. Pask…read more
Funded Multifamily1442 S Bedford Street 29 unit in Los Angeles, CA Start: 12/17/2020 Funded MultifamilyColorado Springs The Quail Cove and Highland Park portfolio presents an opportunity to acquire +400 well-maintained units in a quick… Start: 12/25. /2020 Funded by Multifamily6300 SW 188th Court 84-unit (Aloha, OR) Start: 07/17/2018 Funded by Multifamily5012 Slauson 28-unit development in the gentrifying Culver City/Westside area of Los Angeles that has experienced ra… Start: 04 / 01/2016How a brand new way of financing real estate became popular and what you can do to benefit.
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Since founding Trion, Max has led the acquisition, renovation and sale of over $300,000,000 in mismanaged and distressed assets, primarily in multi-family buildings, yielding an average IRR of over 30%.
He has been publishing the opportunities his company uncovers for investors online for years and is one of the most advanced experts in the field.
Adam: So now someone goes to one of these sites and sees your name… Sure, there’s an element of trust because it’s on a reputable—what’s becoming known as a reputable site—RealCrowd or CrowdStreet, et cetera.
But what’s the first thing they do? They will go to Google and they will publish your name. and will be managed by Trion Properties. They will investigate you.
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How do you navigate this aspect of the digital world when someone – a brand new investor, a high net worth individual – is looking for you?
Max: A few other things we do to gain credibility as a sponsor… First of all, we do a lot of PR. We are always at GlobeStu and National Real Estate Investor. You were able to view our offers and our leading products. We’re always doing interviews and things like that.
Then we also create our own content. We really do a good job of educating investors. You can visit our website, which we are currently renovating, and read our educational articles on what to look for in a business, what to look for a sponsor, what to look for in the market. We talk about macroeconomics, microeconomics and some of our markets, just the way we look at the world, both from the shoes of a sponsor and from the shoes of an investor.
Adam: What do you find to be the biggest challenge in navigating this relationship building process? See, when we first started chatting, the assumption was that they knew you when you collected money from the guys at Marcus etc. or HFF or from friends and family. They already knew you. They had a relationship with you.
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So now you’re developing relationships online with people who don’t know you. What does this process look like? How do you think this process is similar or different from knowing someone for years and years and years, working together with them, or actually having a relationship with them?
Max: Well, again, we’re just trying to establish an online presence and an online personality. We try to give investors as much value as possible. This goes back to education and video, and we show our properties online; we show a lot before and after. We believe this is the best way to establish online credibility.
Adam: Did real estate websites—sorry, crowdfunding websites—get you into it, or did you do it on your own initiative?
Max: A little bit of both. Some of these ideas have come to us through the crowdfunding industry. We started on our own initiative – we decided to start working on our own.
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Adam: By doing it yourself, do you find that crowdfunding sites consistently provide full funding for certain deals, or is it harder to fill your own capital needs as they get bigger? that you need to surpass them for marketing or web work…? Explain how these two things work together.
Max: Of course. Our own internet marketing to grow our investor database is truly a constant development. It’s just something that’s evergreen. We are always trying to get more investors and, ideally, get them into our fund.
When we crowdfund a business, the crowdfunding company usually tells us how much they think they can raise, and that’s the allocation amount we’ll be putting towards it.
If we’re buying a $30 million property with a $10 million equity check and they say, “Max, we think we can raise you $3.5 million based on the metrics, based on the location, the asset class.”
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I’m going to shell out $3.5 million for them, and the other $6.5 we’re going to take investors or fill it with our fund and maybe one or two investors.
Adam: Have you seen a jump in success in raising capital through platforms or otherwise because of your independent online activities?
Max: Well, it’s hard for me to quantify how our independent online activity affects our platform raises, but it’s certainly driven an increase in the number of people coming directly to our site, calling us, and emailing us.
Adam: Interesting. I actually meant in terms of producing your blog posts or video or even making calls like that, like building a relationship with investors.
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It’s obviously a good thing if the biggest problem you have to deal with is the amount of positive inquiries that come in as a result; people who want to participate in your business. In terms of the basic foundation, it’s this – do you feel like it’s taking you more time than you’d like, or about what you’d like, or less?
Max: I think it’s about what we expected. Sure, we’re all busy, but if something is highly productive and highly accelerated, and our time investment pays off well, then we do it.
Adam: Let’s talk about how you raise money. So, let’s start with the old way. When you first started in 2005, what was the process like? First you get debt from the bank, then you need equity. How did you do it then?
Max: Debt is never the hard part. Debt is always the easy part, especially when you’re buying residential properties. It is probably the most funded asset class in America. It actually screws you up a bit when you’re trying to get funding for something else. You say to yourself, “Wait, why is this so hard?”
Trion Properties Pays $35m For North Carolina Community
We made the share capital very organic. My partner and I, Mitch and I, bought the first few properties with our own money. This runs out very quickly. Then we started teaming up and just doing very typical ‘pass the hat’ type of teaming up. I was a-.
Max: You tip your hat to every single person in your phone book, every single person in your office. I talked to the guys at Marcus and of course all these guys like to invest. Mitch is an HFF student and all of his colleagues have invested. We would pool capital together – friends, family – and buy real estate.
Adam: How did you do that? What was the actual process like? When you say, “Pass the hat,” you’re not literally… Here I have a hat-
Adam: You didn’t literally say, “Throw your money there,” did you? Describe this process to me, what do you think…
Trion Properties Purchases Bay Area Community For $21m
Max: Of course. We prepared a PPM or our lawyer prepared a PPM with a business plan, of course, and we would call everyone; would say
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