“If you want to raise money, you need to get the first deal done at all costs. Just close the first deal, because it instantly gives you credibility.” That is a message from today’s guest, the CEO and Co-Founder of Rise48 Equity and Rise48 Communities, Zach Haptonstall. Before entering the multifamily world, Zach tried his hand at many different careers including journalism and healthcare marketing, and in this episode, he explains why he eventually decided to make real estate investing his home. We learn how Rise48 became the go-to for top brokers, what Zach’s approach to raising equity looks like (and how it’s changed over the years), how investors are navigating the recent interest rate hikes, and how Zach's outlook on sourcing criteria moves with the times. We also speak about Rise48 Communities and how it fits into the greater picture, paying particular attention to how it affects the operations of Rise48 Equity. As we wrap up this inspirational and educational conversation, we discuss the recent rise in entry cap rates before Zach shares his methods of dealing with stress and fatigue and the two things he praises as the reasons for Rise48’s success. Tune in today!
Key Points From This Episode:
- What led Zach to focus on multifamily as one of the many career paths he could’ve chosen.
- How Rise48 became top of mind with brokers in its efforts to source deals.
- Zach’s equity-raising process and how it differs from when he first formed Rise48.
- Why investors are asking different questions than they did prior to the interest rate hike.
- How Zach’s approach to sourcing criteria has changed since a year and a half ago.
- Where Rise48 Communities fits in the company equation (and its operational implications).
- How Zach is approaching the recent cap rate reversion.
- The way he deals with the stress and fatigue that comes with his line of work.
- Zach names two things that have been crucial to the success of Rise48.
Links Mentioned in Today’s Episode: