MMM Recap - Gary Mascitis
If you missed the Multifamily Mastery Meetup this month (9/5), you missed out on valuable industry insight and guidance. This month we featured Gary Mascitis who spoke about his experience as a commercial mortgage broker helping investors finance their properties.
Gary is a national direct lender on 1-4 family and 5+ Unit 30-year rental loans (aka DSCR loans) as well as Fix & Flip and Bridge Loans. He is a commercial mortgage broker for long term financing via banks, credit unions, Government Agency & CMBS on most Commercial RE including 5+ unit multifamily, portfolios of 1-4 family, mixed use, commercial use, flex, light industrial, warehouse etc.
Gary has 33 years of finance experience including 23 years on Wall Street in investment banking at premier Wall firms including Merrill Lynch, Credit Suisse and Citadel Investments focused on serving institutional and corporate clients with complex financial products and transactions. With over $6 billion of capital raised in the real estate industry, Gary utilizes his strong financial knowledge and structuring experience to provide the most efficient and effective financing for his clients.
Understanding the complete life cycle of real estate projects/investors and having all of the lending products available enables him to think like an archer that can draw the most appropriate arrow from their lending quiver instead of most lenders that offer 1 product that makes them the proverbial hammer where everything looks like a nail.
We have worked with Gary on multiple projects as well as many of my colleagues, all amazing experiences. Gary looks into each portfolio and situation to find which product is the best fit, then educates along the way. When there's a will, there's a way.
Here are some major takeaways we learned:
Know your strengths and weaknesses and leverage other people to help fill in the gaps
You can do everything yourself, but if you want to maximize progress build a team
A daily routine is critical to improvement
Dont chase the shiny objects
Think with the end in mind
There are good and bad times, so be ready for the bad times so they don't hit as hard
The rewards of business go well beyond the financial aspect
Favorite Business Book:"10x Is Easier Than 2x" by Dan Sullivan
What's coming up!?
Oct 3rd @ 6:30 - Marissa LoCascio, CES, is speaking about 1031 Exchanges from 1031 Corp in Collegeville, PA. Marissa has facilitated thousands of exchanges and is very awarded in her field.
Real Estate Moguls
Industry Professionals and Panels
More to come...