Keith Wasserman’s Post

Some of our most massive wins at Gelt Venture Partners have been when people zig, we zag. From 2009 to 2017 we bought over 2,500 apartment units in Phoenix when blood was in the street, there was no visibility, and fear and uncertainty was so thick you could cut it with a knife. Those were some of our best performing deals ever. Next, we bought a monster property in Albuquerque when all the large institutional investors redlined the market and most investors sneered at us with noses up at the thought of buying there. We absolutely crushed it in this market riding rents up and cap rates down and successfully exited with a monster return to our loyal investors. We have been investing in Salt Lake City before it was a “sexy” market. Our largest market is now Denver where over half our portfolio resides. We also started investing there extremely early around 8 years ago before it became a primary market. The past few years we have been shifting resources to extremely high barrier to entry markets in SoCal when the anti California sentiment has been at all time highs. We don’t get everything right, but some of our largest returns have been where we have been contrarian and ultimately right!

How were you able to raise capital to buy an asset/market that is not conventionally attractive? Especially if you have little track record, investors in my experience have too much doubt that adds up to a "no" Keith Wasserman

Mark Jensen

Our team sells apartments in Utah, Idaho, Montana, and Wyoming. We also love multifamily development.

1mo

ummm, Salt Lake City has always been sexy. Although I did write this in 2011... probably when you made your first SLC acquisition!

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Gary Lipsky

Recession Resistant Real Estate / $280MM in RE Transactions / #1 Best Selling Author / Podcast Host / Public Speaker / Create Passive Income for Others

1mo

Not easy to be a contrarian but it certainly has its benefits!

Ivan Barratt

Founder and CEO, The BAM Companies

1mo

Keep grinding man! I'm still pinching myself at the assets we're able to acquire in this phase of the cycle. Most of the market is irrationally pessimistic. Howard Marks would say this is the best time to buy! Seems like we're maybe approaching the end of this phase but I hope there's a few more innings left to pick up some bargains!

David Safai

Founder Paramount Construction

1mo

Keith Wasserman Can you Please share what returns investors can expect, the leverage you take on, the rates you’re getting now and what liquidity looks like.

Dillon Freeman, CFA

Multifamily Bridge Loans up to $10mm | Permanent Financing

1mo

Fortune favors the bold

Greg LaMarca

President at Alliance Development Services

1mo

It’s a tough business. Love hearing about others success!

Moshe Crane

The Most Curious Person in Multifamily I Being Curious about Investing and Operations. Posts are about my curious journey.

1mo

It’s all about zagging when everyone else is zigging. Love it Keith Wasserman

Justin Ryder, CCIM

I help owners and occupants of Kentucky commercial properties & businesses maximize value.

1mo

Beautiful.

David Schwed

Helping connect people in the Real Estate industry

1mo

Fantastic Keith. Keep crushing it.

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