Doing Due Diligence the Right Way with Rob Beardsley

Weiss Advice

Rob Beardlsey is the Founder and Principal of Lone Star Capital. He oversees acquisitions and capital markets for the firm and has acquired over $100M of multifamily real estate. He has evaluated thousands of opportunities using proprietary underwriting models and published the number one book on multifamily underwriting, The Definitive Guide to Underwriting Multifamily Acquisitions. He has written over 50 articles about underwriting, deal structures, and capital markets. He is also the host of the Capital Spotlight podcast, which is focused on interviewing institutional investors. Rob also helps run Greenoaks Capital, his family's real estate investment and advisory firm. Rob grew up in Silicon Valley and currently lives in New York City, where he enjoys reading nonfiction, traveling, working out, meditating, playing golf, and piano.

[00:01 - 14:18] An Up and Coming Star

• Let’s get to know Rob Beardsley
• How Rob knew that underwriting was for him
• Why Underwriting is an Art Rather than a Science

[04:19 - 20:50] Doing Due Diligence the Right Way

• How to Know if a Deal is Worth Pursuing
• Rob talks about conservative underwriting
• How You Can Win a Deal with a Different Angle
• Why That Deal is a Home Run
• Rob shares about his deals that went sour and how he overturned the situation
• The story of Rob’s first real estate deal
• A Father and Son Real Estate Adventure
• Rob’s shares his inspiration in writing his book
  • A piece of advice for passive real estate investors

[20:51 - 30:02] THE FINAL FOUR

• What's the worst job that you ever had?
  • Working at the TeleFund
• What's a book you've read that has given you a paradigm shift?
  • The Power of Now
• What is a skill or talent that you would like to learn?
  • Become Master of Development
• What does success mean to you?
  • “Success is defining a reality and then closing the gap between your current reality and desired reality.”
• Putting actions behind your words
• Connect with Rob. Links available below

Resources Mentioned:

• The Definitive Guide to Underwriting Multifamily Acquisitions
• Go for No!

Tweetable Quotes:

“Underwriting is not that complex. You can get it down.” - Rob Beardsley

“It is your responsibility to put in all the work. That includes underwriting the work.” - Rob Beardsley

“Success is defined as actively closing the gap.” - Rob Beardsley

Connect with Rob through [e-mail], LinkedIn, www.lscre.com, www.robbeardsley.me, and www.lonestarcapgroup.com and master the art of underwriting.

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