LVREIA Meetup - Our founder, Cole Farrell on the spot!

Cole Farrell
Feb 8, 2024
2 min read

Updated: Jul 14

If you missed the Lehigh Valley Real Estate Investors Association (LVREIA) this month (2/6), you missed a rare occasion. This month I had the pleasure to speak about my experience closing my first out-of-state apartment complex.

I am the Founder of Volcan Capital where we focus on acquiring value-add apartment buildings and implementing strategic business plans. We currently manage over $4M in apartments. I am also the founder and CEO of the Lehigh Valley Real Estate Investors Association (LVREIA).

We focused primarily on the lessons learned from acquiring an out-of-state apartment complex. This building is 12 units situated in the Winston Salem MSA of North Carolina.

Lessons Learned:

Deals are found or made through relentless outreach and follow-up
Raising capital during the holidays is a bad idea
If you pre-raise, expect 50% or less to commit to the deal
Your team is critical. This is what makes or breaks a deal.
Always have a backup for everything.
There will be unexpected challenges. Count on it.
Focus on markets that have inventory. (Built, not available)
Understand your financing plan and requirements before getting a deal (aka liquid cash, experience, net worth)
Stick to your guns, believe in yourself, and be relentless.

In my interview, I hammered home the importance of perseverance and desire. Building anything substantial will entail overcoming countless obstacles and challenges, and it will take grit and willpower to keep pushing. As long as you never give up, you will accomplish your goal.