Jesse Fragale is a commercial real estate broker and investor. He started investing in student rental properties a little over ten years ago. As his passion for investing grew, he began investing in single-family homes and condos. Following this, he tra...
Jesse Fragale is a commercial real estate broker and investor. He started investing in student rental properties a little over ten years ago. As his passion for investing grew, he began investing in single-family homes and condos. Following this, he transitioned to investing in multi-family apartments, and that is his focus today.
In this episode, Jesse shares his on-the-go attitude of going after deals of “If people can do it, I’m pretty sure I could do it.” He shares the mindset of getting scared and doing it anyway. As to him, the deals that he is so most proud of are the ones that he was scared of closing on. And look where it has gotten him now — not only stretching out of his comfort zone but also stretching out on to far better deals out there.
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What you’ll learn in just 17 minutes from today’s episode:
01:01 – Transitioning from single-family homes to multi-family properties
03:51 – Becoming a broker after years of investing in real estate and what advantage it has given him in running his real estate business
05:29 – Sharing how his first multifamily deal went about
07:33 – How he raised capital for his multifamily deals
09:21 – How did the idea of real estate investing kicked in for him, and who influenced him to pursue it
11:30 – Why his first deal was a student rental property, and how did he do it despite only nineteen then at the time
13:33 – What could be the reason why he sees opportunities and go after them while others do not
14:59 – What mindset has got to do with deals he is most proud of
17:45 – How socializing with like-minded people and listening to podcasts help him in his real estate business
“The move to apartments was the scalability of it. And then I think it was my exposure to the fact like you mentioned, I’m a broker, and my partner, he is a broker specifically in multifamily. So, when you start seeing people do 20, 30, $50 million deals, all of a sudden, the one to five start looking pretty reasonable and achievable.” – Jesse Fragale
“I was thinking how does my Dad’s friend afford those big cars. I found out that he owned like 25 single-family rental properties. And that was kind of my first window into this idea that you don’t have to go punch a card every day or have a specific job, you can actually be a business owner or be a landowner.” – Jesse Fragale
“It wasn’t till years later in university that I saw that friends of mine were renting out places to other friends that they lived with and sometimes your buddies, their parents buy a house in a student residential town, and then they rent out to their friends. So, once I saw that, it kind of all clicked.” – Jesse Fragale
“I think the thing that I try to tell people getting into real estate is kind of push yourself to think that there are certain deals that you think you can do right now where you don’t think you can do. And you really can actually go a couple of steps further past that point of comfort.” – Jesse Fragale
“The reality is, once you start seeing yourself as having the ability to buy a seven-unit — that means maybe going out to see it, walking the building, going with the agent having those conversations. It becomes more and more part of your DNA or part of your identity.” – Jesse Fragale
“I know it sounds somewhat far-fetched, but I found that I have always been most proud of deals, looking back. And it’s been the ones that I was the most uncomfortable and slightly scared about closing on.” – Jesse Fragale
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