From Gangsters and 60% Occupancy to Cash Flow Day One with Colby Fryar

His first turnaround had gangsters, crime and occupancy near 60%. It taught him two rules he will never break again.

Colby Fryar of Mountain Bridge Capital bought a tough property in Las Cruces, New Mexico. His team hired three contractors, turned eight to 12 units a month, and turned it around in about six months. This year they refinanced out and got their investors their money back.

Now Colby's rules are simple: raise enough capital, and cash flow day one. He explains why older Class C buildings look great on paper until each repair costs about $4,000, and why his team now buys newer properties in Phoenix.

Key topics:

• The Las Cruces turnaround and what it taught him

• Why cash flow day one is non negotiable

• Newer vintage vs old Class C properties

• Local partners and full time asset management

• Why prices down 35 to 40% could mean the next transfer of wealth

About the guest:

Colby Fryar is a principal at Mountain Bridge Capital, a multifamily syndication company focused on Phoenix, Arizona. He personally owns 240 doors across five properties in New Mexico and Tucson.

Connect with Colby: https://mountainbridgecapital.com

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Want to be a guest on the show? https://www.daveinterviewsyou.com