Our guest today is Veena Jetti, a general partner in huge multifamily deals. She had her fingers on over a billion dollars worth of assets throughout her career and has control over millions of dollars of assets currently. In this episode, we talk about what it’s like to be a general partner on big multifamily deals and what should you look for in a GP if you are a limited partner. If you're ready to scale up and want to invest in the best multifamily deals, don’t miss out on this episode! Learn more about Veena and her journey at reiclarity.com!
“Single-family is not a very scalable space, so eventually there comes a point where you have to make the leap to whatever the next level is, and that's inevitably multifamily.”
Veena is coming from a real estate investor family. Her parents were into single-family investing when she was young, so Veena started in the single-family space as well. However, she soon realized how much more scalable multifamily was. She says that it was easier for her to take bigger risks as she had her family as a safety net.
“My motto is that the ball is never in my court ever. If you asked me for a request, I turn it back to you, and then I'm waiting on you. I never want anybody to be waiting on me in the deal.”
Veena’s first multifamily deal was in Dallas. Since then, she's had control of over a billion dollars worth of assets.
Her newest deal is a 494-unit A- property called Element 41 in Marietta, Georgia. Veena has a good reputation among brokers because she is very professional and reliable, so she can find good deals easier than others.
Veena’s advice on what questions to ask when deciding if something is a profitable buy or not:
According to Veena, there are 3 main categories of roles a general partner plays in a deal.
According to Veena, the biggest challenge for a limited partner in working with a GP is that sometimes there is not a lot of transparency. To make the relationship more transparent, she recommends:
Mentioned in the show:
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