EP 42: Joseph Bramante

The Real Estate Lab

Today on the Real Estate Lab Podcast, join our host Vee Khuu and his guest, Joseph Bramante as they talk about his story of being a newbie who got scammed to a successful CEO working with family offices. Joseph is the CEO and Co-founder of TriArc, a real estate investment company based in Houston, Texas. They acquire and develop multifamily properties.

Outline of the Episode:

• [01:06]Joseph Bramante got into Real Estate by accident. How did he get scammed?
• [04:28] One of Joseph’s ambitions is to build the tallest building in Houston.
• [06:19] The first deal Joseph bought is a 26-unit property.
• [08:35] What were the books Joseph read before he decided to buy a property?
• [12:05] The mistakes they made when buying the 26-unit property.
• [17:40] Did they do any financial due diligence checklist?
• [20:34] Joseph’s job at ExxonMobil got terminated, found out his insurance was a scam and was notified that the property he bought that was undergoing renovation had asbestos.
• [23:03] The importance of having a good network. How did Joseph meet his two partners?
• [26:17] What did they do to solve their problem with the property?
• [32:15] Joseph went against what everyone was saying in his mentoring group about what he should do with the property and succeeded with his plan.
• [35:19] With all the experience he has now, what are the things he would do differently with the 26-unit building?
• [37:42] What will happen to syndicators with overpaid deals especially now with the pandemic?
• [43:44] Abuse of the eviction moratorium can severely hurt the real estate industry. Building a good community and staying in touch with your tenants is important.
• [48:40] Examples of states that are pro-tenant and pro-landlord.
• [50:50] What’s the most important thing you need to know before accepting a deal?
• [54:15]Limit the size of joint ventures because it can cause a lot of miscommunications. Join smaller groups that are established.
• [57:38] What is Joseph and his team doing that is better than 90% of people in the Real Estate industry?
• [58:39] Accountability in business or company is critical.
• [01:01:45] What market and unit size is TriArc’s forte?
• [01:03:36] Joseph shares the markets you should avoid.
• [01:07:18] What are the problems that can make apartment management extremely difficult?
• [1:11:41] What's the hardest thing about being an owner-operator?
• [01:20:12] How has Joseph’s background with working for Exxon helped him with dealing with the institutional field?
• [01:23:54] The pitfall of being a passive in a deal with a family office.

Resources:

• Joseph Bramante’s LinkedIn: https://www.linkedin.com/in/josephbramante/
• Email [e-mail]
• Twitter: https://twitter.com/joseph_bramante?lang=en
• Facebook @TREP.Bramante
• Website: https://www.triarcrep.com/
• Schedule a call: https://calendly.com/jbramante
• Vivid Vision by Cameron Herold https://www.goodreads.com/book/show/38922562-vivid-vision
• Meeting Suck by Cameron Herold https://www.cameronherold.com/bulkmeetings
• Multi-Family Millions by David Lindahl https://www.amazon.com/Multi-Family-Millions-Reposition-Apartments-Profits/

Connect with Vee Khuu!

· Website: https://www.VeeKhuu.com

· Facebook https://www.facebook.com/Veekhuu/

· Instagram https://www.instagram.com/VeeKhuu/

· https://linktr.ee/veekhuu

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