Why You Should Passively Invest in Multifamily with Spencer Gray
In his role as President, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $700 Million in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office.As an entrepreneur, Spencer has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. KEY POINTSSpencer’s entrepreneurial journey to multifamily investingLessons learned from Spencer’s first multifamily dealHow to raise capital without previous experienceThe benefits of passive investingThe lesser-known benefits of real estate investingHow to hedge against inflationLIGHTNING QUESTIONS1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it?Not qualified and no real track record in multifamily, therefore partnering and leveraging track record with someone else.2. Do you have a personal habit that contributes to your success?Having a morning regimen like meditation through a steam shower.3. Do you have an online resource that you find valuable?The Gray Report Gray Report Newsletter4. What book would you recommend to the listeners and why? The Hands-Off Investor book by Brian Burke5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be?