EPISODE · Nov 5, 2023 · 1H
Raising $100 Million from Investors to Buy Apartments | Kurt Hunter
from T.U.T — The Unwritten Teachings · host Raj Tut
Raj Tut is joined by Kurt Hunter, Managing Partner of STRAQR Investment Funds. Kurt, along with his partners, has raised over $100 million from investors and leveraged it with conservative debt to buy 2800+ apartments, 3000+ residential lots, and several hundred acres of land. His company's unique fund structure and strategy of buying in tertiary markets has allowed them to have great success since formation. Kurt is very thorough in his underwriting process and has a unique lens from which he views apartment deals. Kurt moved to St. Louis from a small town to pursue his entrepreneurial endeavors - and it has paid off. He is very candid and open in sharing his strategies and insights that have helped STRAQR become a force in the multifamily world. On this episode, Raj and Kurt discuss: ⚫ His experience growing up in a small town ⚫ Experimenting with entrepreneurship as a student ⚫ Deciding to jump into entrepreneurship in a bigger city ⚫ Early experiences with smaller multifamily ⚫ Forming STRAQR and buying residential lots ⚫ Pivoting the strategy to go solely into apartments ⚫ How he underwrites and performs due diligence on acquisitions Topics: 00:00 Intro 01:36 What STRAQR is 04:19 Growing up in a small town and starting an eBay company 06:58 Moving to St. Louis and starting in real estate 10:13 The last recession compared to today 13:43 How he met established people to partner with 15:26 The ability to jump on opportunities 16:30 Fund track record 18:40 Acquisition criteria and target 22:39 Asset management strategy 27:40 Operating in tertiary markets 30:03 Expense creep 32:18 What STRAQR is currently looking for 36:15 Due diligence and value-add 42:27 IRR as as metric 43:11 The most lucrative deal thus far 47:09 Why their fund structure works 50:12 Where we're headed in the next year 54:55 Apartment supply 56:20 Hole In One - Kurt's advice for you to improve your life and business Support our Sponsors: Storyboard Living - If you are looking to sell a multifamily property in the St. Louis region or Southern IL/MO please email [email protected] Follow Storyboard Living on LinkedIn - https://www.linkedin.com/company/storyboard-living/ Raj Tut on Social Media: Twitter: twitter.com/ItsRajTut LinkedIn: https://www.linkedin.com/in/rajtut/ Instagram: instagram.com/ItsRajTut TikTok: https://www.tiktok.com/@itsrajtut YouTube: https://www.youtube.com/ @ItsRajTut Learn More about Kurt Hunter: http://www.straqr.com/ Leave a review on Apple: https://podcasts.apple.com/us/podcast/country-club-conversations/id1709895268 Leave a review on Spotify: https://open.spotify.com/show/4ovakj2lJMS7GLqgBdt766 #business #businessideas #multifamilyindustry #realestate #motivation #multifamily #entrepreneur #entrepreneurship #rajtut #raj-tut
What this episode covers
Raj Tut is joined by Kurt Hunter, Managing Partner of STRAQR Investment Funds. Kurt, along with his partners, has raised over $100 million from investors and leveraged it with conservative debt to buy 2800+ apartments, 3000+ residential lots, and several hundred acres of land. His company's unique fund structure and strategy of buying in tertiary markets has allowed them to have great success since formation. Kurt is very thorough in his underwriting process and has a unique lens from which he views apartment deals. Kurt moved to St. Louis from a small town to pursue his entrepreneurial endeavors - and it has paid off. He is very candid and open in sharing his strategies and insights that have helped STRAQR become a force in the multifamily world. On this episode, Raj and Kurt discuss: ⚫ His experience growing up in a small town ⚫ Experimenting with entrepreneurship as a student ⚫ Deciding to jump into entrepreneurship in a bigger city ⚫ Early experiences with smaller multifamily ⚫ Forming STRAQR and buying residential lots ⚫ Pivoting the strategy to go solely into apartments ⚫ How he underwrites and performs due diligence on acquisitions Topics: 00:00 Intro 01:36 What STRAQR is 04:19 Growing up in a small town and starting an eBay company 06:58 Moving to St. Louis and starting in real estate 10:13 The last recession compared to today 13:43 How he met established people to partner with 15:26 The ability to jump on opportunities 16:30 Fund track record 18:40 Acquisition criteria and target 22:39 Asset management strategy 27:40 Operating in tertiary markets 30:03 Expense creep 32:18 What STRAQR is currently looking for 36:15 Due diligence and value-add 42:27 IRR as as metric 43:11 The most lucrative deal thus far 47:09 Why their fund structure works 50:12 Where we're headed in the next year 54:55 Apartment supply 56:20 Hole In One - Kurt's advice for you to improve your life and business Support our Sponsors: Storyboard Living - If you are looking to sell a multifamily property in the St. Louis region or Southern IL/MO please email [email protected] Follow Storyboard Living on LinkedIn - https://www.linkedin.com/company/storyboard-living/ Raj Tut on Social Media: Twitter: twitter.com/ItsRajTut LinkedIn: https://www.linkedin.com/in/rajtut/ Instagram: instagram.com/ItsRajTut TikTok: https://www.tiktok.com/@itsrajtut YouTube: https://www.youtube.com/ @ItsRajTut Learn More about Kurt Hunter: http://www.straqr.com/ Leave a review on Apple: https://podcasts.apple.com/us/podcast/country-club-conversations/id1709895268 Leave a review on Spotify: https://open.spotify.com/show/4ovakj2lJMS7GLqgBdt766 #business #businessideas #multifamilyindustry #realestate #motivation #multifamily #entrepreneur #entrepreneurship #rajtut #raj-tut
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Raising $100 Million from Investors to Buy Apartments | Kurt Hunter
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