207: Multifamily Real Estate Development Without The Hassle with Justin Goodin

Many people are looking for a truly passive income–the kind where they can be completely hands-off. Real estate is often very hands-on, but syndications can be the answer for those looking for the hands-off option. On this episode of Zen and the Art of Real Estate Investing, Jonathan interviews Justin Goodin, founder of Goodin Development. Goodin Development builds premium market-rate communities throughout Indiana and helps busy professionals invest in real estate without the hassle of analyzing properties, managing tenants, or handling repairs. Jonathan and Justin start by exploring Justin’s first investment, a single-family property, and why single-family assets were a good stepping stone to Justin’s career but not his ultimate goal. Justin shares his “sniper” approach to direct marketing campaigns, what it was like to raise capital for the first time, and his tips for vetting a syndication investment. Justin explains his buy box, who his investors are, and why he has no plans to expand his business outside Indiana. Finally, Justin shares the size of the apartments he builds, the tenants' demographics, why syndication may not be right for everyone, and what he learned about construction as a first-time developer. Real estate can be as hands-on as you want, but if you’re the type of investor who wants to take the passive approach, a syndication could be the way to go. In this episode, you will hear: The $44,000 single-family home that got Justin Goodin started in real estate investing in 2017 Why single-family assets were a great stepping stone but not what he wanted long-term The differences between single-family and multifamily syndications Creating direct marketing campaigns and the “sniper” approach he takes What Justin looked for in his first deal and why that turned out to be a value-add property Raising capital for the first time, what he learned from that process, and how to vet a syndication investment Justin’s current buy box and how that can simplify your process Who his investors are, and how he finds land to develop The appeal of remaining in Indiana and creating new developments versus renovating Different sizes of apartments in developments and the demographics of Justin’s renters His ideal avatar and why syndication may not be right for everyone Learning construction as a first-time developer and Justin’s tips for new investors Follow and Review: We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at https://zenandtheartofrealestateinvesting.com/podcast/207/ to download it. Supporting Resources: Goodin Development - goodindevelopment.com Justin Goodin’s YouTube channel - www.youtube.com/@JustinGoodin Justin on Facebook - www.facebook.com/justin.goodin.16 Find Justin on Instagram - www.instagram.com/justin.goodin Connect with Justin on LinkedIn - www.linkedin.com/in/justingoodin Website - www.streamlined.properties YouTube - www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - www.zillow.com/profile/StreamlinedReal Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties Email - info@streamlined.properties Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.