#93: Why multifamily is the “Holy Grail” of Real Estate investing
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Today’s guest, Chris Larsen is the founder and Managing Partner of Next-Level Income. Chris has been investing in and managing real estate for over 20 years. While still a college student, he bought his first rental property at age 21. From there, Chris expanded into development, private-lending, buying distressed debt as well as commercial offices, and ultimately syndicating multifamily properties. He began syndicating deals in 2016, has raised more than $15 million, and has been actively involved in over $150 million of real estate acquisitions. Chris is passionate about helping investors become financially independent.
In addition to real estate, Chris has invested in equities, oil & gas, and small business lending, as well as being active in Venture South, one of the nation’s Top 10 Angel Investing groups. Chris lives with his wife and two boys in Asheville, NC where he loves spending time with them in the outdoors and enjoying the food and culture that the region has to offer.
In this episode, we’re discussing…
[1:39] His beginning as a biomechanical engineer and sales
[3:25] The mission now, is providing investors a shortcut and opportunities towards financial independence
[4:18] How to diversify and why multifamily properties option, the “holy grail” of real estate
[5:39] The market in this industry and demographic point of view to invest and diversify
[7:53] The cap rate return in multifamily vs. product type in the industry and risk
[10:55] Some highlights to maintain multifamily cap rate 4.5% in other different markets
[14:01] The tax advantages and the benefits for investors
[16:25] Family bank through infinite banking concept, how it works and the advantage of this investing option
[25:50] Type of syndications Chris is looking at
[27:12] Get the free book, go to his website: www.nextlevelincome.com, and pick your copy
Chris’s Top Tip’s
“Thought process of an engineer, and if you are an engineer, you know, the methodology of looking at assumptions, breaking it down iterating through the process, and making it better, really served me well throughout my career. And my investment career specifically over the past 20 years”
“Today we do about 80% of what we do is multifamily real estate. We also do self-storage. We have some other one-off opportunities. We're doing a mobile home park deal right now, which I really like for affordable housing”
“I talked about in my book, why multifamily because it allows you to decrease the risk in your portfolio while increasing or even if you decrease the risk and maintain your return, that provides a nice benefit. And the reason the southeast rose up is because of higher quality of life, lower cost of living in the southeast, we moved to North Carolina specifically for those reasons”
“We're talking about a luxury products, so we're looking at that, as you go up the chain, here's the interesting thing, you're not seeing massive differences in C plus and B, you're seeing maybe 100 basis points difference. I think it's all relative, you have a lot of newer investors that are coming into the market looking for these older values add deals, and they're paying, in my opinion, a premium”
“There's not a lot of yields if you look around the world. So, it's like, where do you put your money? Do you put it in bonds? No yield? Do you put it you know, in international markets, no yield, cap rates around the world in developed countries are even lower? I think there's still an opportunity. And I think you have to be very conscious about that”
“Almost all these topics in my book, whether it's, you know, how we select markets, or what you would call the Sharpe ratio, what the Sharpe ratio is that that measurement of risk versus reward, that risk-adjusted return, and what multifamily high quality, multifamily assets provide a bond like risk with a stock like return”
“That's one of the reasons real estate is great, people can't move on a dime, either. The reason people have to have somewhere to live, the reason people can sell their house immediately. All these things help the stability of this asset class, which you know, I've loved it for 20 years”
“That's risky to keep your money in the stock market in between real estate deals. My preferred place is in cash value life insurance. And there's a concept called infinite banking, becoming your own banker that Nelson Nash wrote talks about how to use whole life insurance”
“I learned, one thing the ultra-rich do is they invest 20% to 30% of income-producing real estate, just like big pension funds. The other thing they do is they buy a lot of high cash value life insurance. It has so many tax benefits at one point that Congress went and they enacted new tax laws in the 80s to restrict some of those because people were sheltering so much money”
“Work with a professional that understands how to structure one of these policies, and then you use that cash value to invest. And that's what I call your Opportunity Fund. What you can do is you can put the money into the life insurance, while it's in the life insurance, you're getting the value of the life insurance, you're also if it's properly structured with the right company, you're getting a dividend”
Mike’s Top Tips
“I don't like the retirement either. You don't have to retire because it's just it works. That is our goal for passive investors, it's something that it's fun, instead of just waking up in the morning going to your paper and say okay, well how much did my stocks loser make? Now it's like, wow! I own a piece of these, this multifamily and this self-storage and it to me, it's just a little more exciting than just seeing your stocks went up or down”
Resources from Chris
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+ Read the transcript
Mike Stohler
What if you could be doing something smarter with your money that creates income. Now, if you're wanting to get ahead financially, and enjoy greater freedom of choice, if you want a comfortable retirement, and you know you'll have more choices, if you can do more with your money. Now, if you've wondered who else is creating ways to make their money work for them, and you want actionable ideas, with honest pros and cons, and no fluff. Welcome to the richer geek podcast. We're here helping people find creative ways to build wealth and financial freedom. I'm Mike Stohler, and in this podcast, you'll hear from others who are already doing these things, and learn how you can.
All right, everybody, welcome back to the richer geek podcast I'm excited to have. This episode is Chris Larson. How you doing? Chris
Chris Larsen I'm doing great. Mike. I'm excited to be here.
Mike Stohler Yeah. So Chris, you our real estate investor, author, sales exec. Prior engineering nerd, which we all love here on this podcast, still still a nerd but no longer an engineer. And you are now the Founder and Managing Partner of next level income. Tell us about it.
Chris Larsen Yeah, so you touched on a few things there. So Mike, I was I was an investor. Before I was an engineer, I was an engineering school at Virginia Tech, studying biomechanical engineering, I studied that for four years before doing an MBA in finance. And I was joke I said, my, my advisor pulled me aside and said, Chris, you you aren't, you're not smart enough, and you got too much personality to be an engineer. And, I mean, I just looked around, and you know, you think you're smart. And then you get to a level where you're in these, you know, PhD level classes, and you just see how smart these people that your, that your colleagues are. And, you know, I always say I was smart enough to understand the concepts and convey them. But you know, I figured you'd want somebody else designing the bridges and the different things. And I was lucky enough, I found the a career in medical device. You mentioned I was a sales executive, I was in sales for about 18 years, combined. loved it, I got to probably the best part was I got to work with the engineers that were designing these implants and these products, and I got to be in the car and work with the neurosurgeons and orthopedic spine surgeons that use the products on patients. And I got to be the person that conveyed the information and provided the service in between. So I really, really had a great time. And a lot of people like Chris, why on earth did you go to engineering school and put yourself through that torture to do this, and it certainly was torture at some points. But I will say the thought process of an engineer, and if you are an engineer, you know what I'm talking about, you know, the methodology of looking at assumptions, breaking it down iterating through the process, and making it better, really served me well throughout my career. And my investment career specifically over the past 20 years. So today, our mission at next level income like is to provide investors a shortcut, the education as well as the opportunities towards financial independence.
Mike Stohler And, and I that is exactly what our listeners are looking for, you know, because they know we talked earlier, everyone knows that in today's world, the 401k, the IRA, the stock market with you know, China sneezes or something happens and bam, you know, it's just the heartache and stress and it's so nice to have to be able to diversify, to be able to have the funds and be able to diversify. And through your company. You are, is it now multifamily? Is your niche? Would you say? Is that what you're doing?
Chris Larsen Yeah, great question. So, my book, I talk about the holy grail of real estate which is multifamily. And if you'd like to get a copy of the book, you can get it for free at next level income.com. You can just click on the book link. It talks all about my story, and it talks all about multifamily and specifically value add multifamily. And today we do about 80% like 80% of what we do is multifamily real estate. We also do self storage. We have some other one off opportunities. We're doing a mobile home park deal right now, which I really like for affordable housing. And you can you know we talked about a lot about stuff on our website, you're not going to see any opportunities to invest in there. Although you can click invest and you can learn more about what we do if you're interested.
Mike Stohler
And what are you seeing in the market today? You know, I think Self Storage is is hasn't always will do well, mobile home parks is like, yeah, and you know if you can get one, you know, that's kind of like the the cash cow, the the industry the multifamily that you're finding. Now, are you East Coast only? Or are you kind of expanding out into, you know, the rest of the United States with your multifamily?
Chris Larsen Yeah, so my engineer is going to show through so I'm gonna touch on a couple points. You mentioned a part about diversification I talked about in my book why like multifamily, because it allows you to decrease the risk in your portfolio while increasing or even if you decrease the risk and maintain your return, right, that provides a nice benefit. So when when I was looking at where to move, we were in the DC area starting out my career, I said alright, what are areas of the country that are going to have nice demographic tailwinds nice demographic, rising tides, you know, both from a career perspective as well as a real estate perspective, we're talking about 15 plus years ago, and the southeast really rose up. And the reason the southeast rose up is because higher quality of life, lower cost of living in the southeast, we moved to North Carolina specifically for those reasons. So today, we focus on the southeast for the same reasons for the same demographic reasons in the multifamily space. So the markets we're targeting Mike are the Carolinas, North and South Carolina. markets like Raleigh, Charlotte, Greenville, Charleston, as well as Atlanta, Georgia, some markets in Florida like Orlando, or we just made two acquisitions. We're also looking actively in Texas, Arizona, although we don't have any properties there currently. So I think there's there's a lot of strong markets. I mean, you're you're right next to one of the strongest in the country in Phoenix, I see some great deals come out of there. But we we focus 95% currently on the southeast.
Mike Stohler And having invested in those, you know, if I were to invest some of the questions that I would have in regards to the multifamily, you know, I know here in Arizona, man, the cap rates are just so small right now, because, you know, we have the Canadian buyers, and the California buyers are just coming in and bam, and work down. For cap, you know, 4%, you know, 3.9? You know, it's, it's getting? Are you seeing that? And are you scared about that? Or you're like going, you know, there's still appreciate, you know, what is the play? Are you still doing that? Regardless if it's if it's that low, or is it higher, where you're at?
Chris Larsen
Yeah, I think it depends on the market. It depends on the deal. depends on if you're looking at multifamily Self Storage, mobile home, whatever that is. But let's talk about multifamily. And I agree, you guys are seeing some really low cap rates out there, I was looking at a deal out there last week, and it was in the threes for let's say it was the 80s vintage 70s or 80s vintage. So what we're seeing for class A products, we're talking about stuff that's been built in the last 10 years, we're seeing force, we're seeing mid fours, sometimes low fours for brand new product that's out there. But we're talking about luxury product, se we're looking at that, as you go up the chain, here's the interesting thing, you're not seeing massive differences in C plus and B, you're seeing maybe 100 basis points difference. So I think it's all relative, you have a lot of newer investors that are coming into the market looking for these older value add deals, and they're paying, in my opinion, a premium, I would much rather pay a four and a half percent cap rate for a 2018 built product than a five cap for a 1974 built product. And these are real numbers that I'm seeing, I mean, seen in the forest for that same 70s vintage now. It's all relative, if we look around the world, we see a lot of money flooding into the United States, he was talking about California and Canadian buyers, you know, you look at Asian buyers, you know, money coming from overseas in both directions. It's because there's there's liquidity. And there's not there's not a lot of yield if you look around the world. So, you know, it's like, where do you put your money? You know, do you put it in bonds? No yield? Do you put it you know, in international markets, no yield, cap rates around the world in developed countries are even lower. So I think there's still opportunity. And I think you have to be very, you know, you just have to be very conscious about that. And the flip side is if you look at a deal and you say, Hey, I'm buying it at a four cap, are you going to assume that's going to go down to a three cap? I would, I would say that's that's not an assumption. I would personally make, I'd say maybe you assume cap rates, expand a bit, and make sure you're comfortable with that. If you're banking on cap rate compression for your returns going forward, there's probably a little bit more more risk in that than it was five years ago when we were buying six caps.
Mike Stohler Yeah, that's some great points. And, you know, some of the people that have invested with me, and I'm sure you can say the same, one of the things as well, I can throw it into a bond, right, I can get that for four and a half percent. And they're not thinking, you know, all the other advantages we have, being in real estate, that your bond isn't going to give you your mutual fund. So give me some of the highlights of, yes, you can go four and a half percent all day long in other different markets. But what is real estate give you?
Chris Larsen That's a great question. So there's a few things. And I actually highlight this in my book. So if you're listening anything I'm saying here, dig deep. And almost all these topics in my book, whether it's, you know, how we select markets, or what what you would call the Sharpe ratio, what the Sharpe ratio is that that measurement of risk versus reward, that risk adjusted return, and what multifamily high quality multifamily assets provide a bond like risk with a stock like return. And if you look at the stock market, if you look at the bond market, where it historically high levels in both of those right now, as well. So if bond yields rise, so if we're in a one, or let's say we're at a 2% yield on a bond, and interest rates rise to 4%, you're gonna lose 50% of your value in your bond. That's a massive loss of capital, right? Like 50%, loss of capital is, is very high. If you're in stocks today, and the market loses 50%, which is possible, maybe it loses 30%, maybe the bond market loses 30%. that's a that's a big loss of capital. You know, if you're in a multifamily deal, and you're getting let's, let's just say a 5% cap rate, right? First off, you're not accounting for leverage, right. So if you pay all cash, maybe you're getting 5%. But I'm telling, I'm going to tell you that if we're if we're buying a property at a four and a half cap, we're we're getting higher than that in yields to investors, because there's leverage involved with respect to that. And we're buying properties that are cashflow positive, there's also value add, they can even in a 22,018 built property. Think about it, if you buy a property that was built in 2018. When was that property initiated? Probably about five years ago. So if you and I are putting together plans for a property today in Phoenix, we're probably going to have different finishes than we would in five years from now the market is going to shift it's going to change, there's going to be different preferences. So we're buying properties today that people like, Oh, those are only two years old. I'm saying Well, yeah, Mike, but these these have finishes from five years ago, and they need to be updated. So there's a value Add Component there. And that's where these cap rates cut both ways. If you buy at a 10 cap, and you increase income $1, you've increased the value of that property $10. And again, I walk through this in my book, so I've got a lot of smart people listening, you're probably following. But if you increase the value of a property of the income of a 10, cap property $1, you increase the value $10 if you increase that same property at a four cap $1 in income, a $25 increase in value. So as cap rates compress, there is more leverage when it comes to value creation. So if you have, you know, I'd say if you have cash flow opportunities, and you're comfortable with the business plan, you still can have value add in these newer properties that are that are lower cap rates, and still get overall total returns that are very competitive with the stock market, but still have a lower risk profile.
Mike Stohler That's excellent. Excellent. And and you haven't even touched on, you know, the wonders of the K one and tax benefits are actually benefits of a cake. That's the icing on the cake is is looking at the depreciation accelerated depreciation that all of us do, you know, when we buy large products?
Chris Larsen Yeah, so let's so let's add some icing to the cake. So, you know, and that's the thing if you're getting now in a municipal bond, you may not be you might not be paying taxes, and there are there are tax deferred or tax free options out there for investors in the bond market and other investment opportunities. But most of our investors, they are getting this income these returns tax deferred, I hesitate to say tax free because, you know, the government always is going to come for that whether you have a 401k it's tax deferred or Roth IRA where you've paid tax, life insurance or real estate, but it is tax advantage. So I'd say if you're getting a six or 7% return, but that's after tax, what do you have to get in a similar bond in probably eight, nine, maybe even 10%, depending on what tax bracket you're in and that's that's going to be hard to find and in a high quality bond.
Mike Stohler And no matter what the economy does, real estate will always. Okay. He's saying always, yeah. It has a much better chance and has proven itself over the decades to always recover. And appreciate.
Chris Larsen Yeah, I'd say, I mean, I agree with you, it's less volatile. Right? You know, and, you know, say, Well, Chris, I fine invest in this. It's, it's not as liquid as a bond, it's not as liquid as a read. And I agree, like there is there is a liquidity cost that you that you have in real estate, and you have that whether you own a house, if you said, If I said, Hey, I gotta sell my home tomorrow, Mike, will you buy it from me, you're probably not going to pay market rate, you're going to get a significant discount. So you know that that liquidity that you are paying for, essentially, you're getting a premium, and you're also getting stability for that. And that's, you know, that's one of the reasons it's real, real estate is great, you know, people can't move on a dime, either. They have to have somewhere to live. So the reason people have to have somewhere to live, the reason people can sell their house immediately. All these things help the stability of this asset class, which you know, I've loved it for 20 years.
Mike Stohler Yeah. Yeah. So it's, it's wonderful Now, something that in your book that you've, I think it's in your book that you've talked about, is establishing a family bank, through infinite banking concept? What is that?
Chris Larsen Yes, so I was a licensed insurance agent, almost 20 years ago, I got re licensed, I had to have something to do during COVID. So I wouldn't got my life insurance license all over again. So I rewrote my book about a year and a half ago, and I added a chapter at a chapter three. And chapter three is called your Opportunity Fund. So your Opportunity Fund simple, if you're listening, I asked you what are you doing with your money in between deals? So if you're gonna invest $100,000, where's that money going right now? Is it going into a checking account a savings account? Is it going into the stock market, I have investors that say, Oh, I got to sell some of my, you know, company stock. And that's, you know, that's, that's risky to keep your money in the stock market in between real estate deals, if that's where you're going to allocate it. My preferred place is in cash value life insurance. And there's a concept called infinite banking. becoming your own banker that Nelson Nash wrote talks about how to use whole life insurance, cash value life insurance, basically, as your own bank, and a lot of people are gonna hear a whole life insurance. And if you're listening to thinking, Oh, life insurance expensive, and I don't, you know, what I was taught, I learned the same thing. 20 years ago, oh, Chris, buy term, invest the difference. And I sold a lot of term insurance. back then. However, what I learned, and this is why we're talking about real estate, Mike and I talked about in my book, I want to know how the rich, the ultra rich invest, and the ultra rich handle their money. And one thing the ultra rich do is they invest 20 to 30% of income producing real estate, just like big pension funds. The other thing they do is they buy a lot of high cash value life insurance. It has it had so many tax benefits at one point that Congress went and they enacted new tax laws in the 80s to restrict some of those because people were sheltering so much money. But To put it simply, what you do is you work with a professional that understands how to structure one of these policies, and you optimize it to maximize the cash value, minimize the cost of the insurance, and then you use that cash value to invest. And that's what I call your Opportunity Fund. And what you can do is you can put the money into the life insurance, while it's in the life insurance, you're getting the value of the life insurance, you're also if it's properly structured with the right company, you're getting a dividend. So you're getting dividends that come back. And those are typically returns of premium, it's not taxable. So it's almost like like a bond, like we were talking about earlier. And it can be tax free. And this is something that actually can be tax free, because you already paid tax before you put it in. This is not tax deferred, it's already tax free. And then the cool thing is, again, if it's properly structured, let's say you have $100,000 in cash value, you can pull that money out, keep getting the dividend and invest it somewhere else. And that means you're using it in two places at once. So I know what you're thinking you're thinking that's too good to be true. There is a cost associated with it. It typically takes five to seven years to get these policies to the point where they're Break, break even. So it's like starting a business or going to college like there's a cost associated with it, but there's a big payoff on the back end. And if you are a cash flow investor, or you want to send your kids to college or your business business owner and you have a need for liquidity, like I did a little over a year ago and COVID hit, I pulled a couple $100,000 out of our policies and stuck it in my bank account, I told my wife, hey, we're finishing a house. I don't know if we're gonna make any money in the next three to six months. But you know what, we're going to be good for the rest of 2020. I'll tell you what that peace of mind knowing if something happens to me, or if I need that money, if there's an emergency, that there's a lot of value associated with that as well.
Mike Stohler
Now, how does that work? Is? Are you basically doing a loan against your policy is that when you take things out? It's and then you have not only did you take some money out, but then is there an interest? So you're actually paying yourself back? At an interest? Or what how does that work out? You can't just pull money out, right?
Chris Larsen Correct. Yeah, there's a formula to it. So and it, I walk through this, we have a white paper, if you go to my website, next level income, com, click on the banking link, and you can get some more information there. And again, this is why it's important to work with a professional kind of Shepherd you through this process. But you're correct, you actually pull the money out as a loan against your policy. Now think about this. Life insurance companies, they invest their money in things like high quality real estate, high quality bonds, government bonds, city bonds, these sorts of things, they have to make a return because they have to continue to grow the money over a period of time to pay the claims. It's all a formula. It's done by actuaries. Again, you know, we're talking to a highly educated audience here. And it's all numbers and formulas to keep the risk down. And insurance companies have to earn spread above what their expenses are going to be to remain solvent. We're talking about companies that are older than the IRS, they know what they're doing. Okay. So when they lend you the money, the first person they want to lend that money out to is the policyholders. So think about this, the policyholders the collateral is your life insurance policy, what is more secure than the life insurance policy that the life insurance company owns. So they may lend you the money at 5%. But you may be getting a dividend of three, four or five 6%. To offset that, again, if it's properly structured, you're going to continue to get that dividend. Even if you get that loan, so your net spread on the money you borrow. It's not the 5%, it's typically significantly lower than that. So you have to be you have to be smart, you can't take them while you can. But I wouldn't take that money out and go buy a boat, for instance, I would take that money out. And if I'm going to use it somewhere, I would put it somewhere that has a nice secure return. And then when you get that money, you put it back into the policy. And I think this is what you're talking about, like you pay yourself back, essentially with interest. And then when that money goes back into the policy, remember, it's still earning the dividends that have been in there, you pay it back with interest, that interest goes back into your policy to you. And then it continues to grow. So that policy grows inside of your power, your I'm sorry, the cash value continues to grow inside of your policy, as you pull money in, put it back, pull money out, put it back in. And then as you get to the point where you need it for retirement, you have access to those funds. And again, that can be done tax free, where you pull that money out of your policy, and it can be used almost like your own personal pension plan. And if you have a pension, you're listening, you're very fortunate. Most people, some people don't even know what that is now, but it's essentially your own personal pension fund. So we have that we have our life insurance, I'm sorry, we have our our real estate investments. So we have multiple streams set up. When it comes to you know, I say retirement, I don't really like to use that word retirement. But when it comes to our future cash flow needs.
Mike Stohler Yeah, and I don't like the retirement either. Because what's nice is, you know, for us, general partners, you know, you don't have to retire because it's just it works. We have people on and it just kind of works and and we don't have to be that involved. That is our goal, and future but for passive investors, it's something that it's fun, instead of just waking up in the morning going to your paper and say okay, well how much did my stocks loser make? Now it's like, wow, I own a piece of these, this multifamily and this self storage and it to me, it's just a little more exciting than just seeing your stocks went up or down or or, you know.
Chris Larsen It is and And the neat thing is, you know, these these communities that we own, you know, I was I was I was on another podcast earlier today. We're looking out for our investors, of course, but in the process, we're actually improving these communities that we're buying, we're going in and sinking most of the time, millions of dollars into these apartments. So the residents get a nicer place to live. It's nicer outside. I take my boys to every property we buy. I'd show him around. I tell him what we're gonna do. I say hey, what Do you think about this? What do you think about that my wife's an architect, she tells me how she doesn't like to paint most of the time of the places we buy. And, and, you know, you can choose to invest your money in a place that is going to, you know, not just make you money, but also do good for the community. And, you know, it's, it's a really, it's cool. And you can do that you can do that through the stock market as well through different companies. But it really is, it can be a real win win for not only investors, but also the people that are using that real estate every day.
Mike Stohler Absolutely. before we sign off. Is there anything that you're looking at now? Is there any opportunities that our listeners can participate in? And secondly, if that, if you are if there are any type of syndications that you're looking at, or open funds, what type of syndications are they do they need to be? Do they need to be accredited, accredited? Or are you looking at more of a crowdfunding type of a situation? or?
Chris Larsen Yeah, so the best thing to do if you're listening and you're like, hey, I'd like to learn more about what we do at next level income, go to the website, click on the invest link. And you can schedule a time for us to have a conversation. We currently have a multifamily deal. I'm not sure when this is going to air but we'll be closing on that deal in Charleston at the end of August. It's a wonderful property down there in Charleston, it's actually the site or the area where I did my first multifamily investment was in Charleston, South Carolina. So I got a real soft spot in my heart. I love to take the family down there. It's about four hours from Asheville. We just launched a self storage fund. So I think Self Storage is going to do very nicely alongside multifamily for the future as we see more people moving, you know, they say, Hey, I'm more mobile because a COVID I can use zoom like we're doing today, Mike, and you know, they're gonna put their stuff in storage, baby boomers, downsize, downsize, we have some great properties that we've acquired and put into that fund. And we have some other stuff as well. So the best thing to do check us out next level income. com, get a copy of our book for free. Check out the investment if you're interested in learning more.
Mike Stohler Sounds great, Chris. It's been absolutely wonderful. I appreciate a lot of great information. And I'm sure our listeners are gonna be typing away at learning a lot more about next level income and everything you do, and especially guys, listen. Remember the free book, go to next level income and pick up your copy. You won't regret it. Thank you, Chris. And thank you everyone for listening. Take care.
Thanks for tuning in to the Richer geek Podcast, where we're helping others find creative ways to build wealth, and financial freedom. For today's show notes, including all the links and resources from our show, and more information about our guests, visit us at www.therichergeek slash podcast. And don't forget to jump over to Apple podcasts, Google Play Stitcher, or wherever you get your podcasts and hit the subscribe button. share with others who can benefit from listening and leave a rating and review to get the podcast in front of your eyes. I appreciate you and thanks for listening
ABOUT CHRIS LARSEN
Chris Larsen is the founder and Managing Partner of Next-Level Income, through which he helps investors become financially independent through education and investment opportunities. Chris has been investing in and managing real estate for over 20 years. While completing his degree in Biomechanical Engineering and M.B.A. in Finance at Virginia Tech, he bought his first single-family rental at age 21. During his subsequent career in the medical device industry, Chris expanded into development, private lending, buying distressed debt as well as commercial offices, and ultimately syndicating multifamily properties. He began syndicating deals in 2016, has raised more than $15 million, and has been actively involved in over $150 million of real estate acquisitions. In addition to real estate, Chris has invested in equities, oil & gas, and small business lending, as well as being active in Venture South, one of the nation’s Top 10 Angel Investing groups. Chris lives with his wife and two boys in Asheville, NC where he loves spending time with them in the outdoors and enjoying the food and culture that the region has to offer.