Eddie Austin is a Serial Entrepreneur. He is the Founder of JE Capital Fund II, a Multi-family Real Estate 506 syndication fund.
Eddie Austin grew up in South Florida and Southern Indiana. Numerous role models, mentors, and business experiences taught him the value of recognizing profit opportunities in changing markets. He has devised a bold, visionary concept for a new type of real estate company that will profitably and aggressively grow by leveraging changes in the home real estate market and an innovative capital structure. Eddie’s primary goal is to build companies that have better relationships. He is constructing businesses that provide excellent returns to investors. Eddie believes in doing things that make you feel good, such as hard work, excitement, and interactions.
Eddie began homeschooling after elementary school in order to accelerate his high school education. He was able to finish two high school grades per year while also taking vocational courses in welding, automotive, and diesel. He graduated from high school in 1999, two years ahead of schedule. He quickly became government-certified in various types of welding after finishing high school. He then moved into diesel and automotive, where he earned certifications in electrical diagnostics, service management, and fundamentals. Eddie began working as a maintenance technician at a Toyota manufacturing plant in 2004, where he earned certifications in advanced electrical, PLC/CNC, robotics, and programming. Eddie worked his way up the corporate ladder over the course of 13 years. Started as a member of the maintenance team and left the company as the Maintenance Assistant Manager. Eddie started his first business in 2015 while working as an electrician at a local solar company. All while researching the expanding real estate market in various parts of the country and discovering new ways to build a better real estate investment firm. Eddie knew it was time to bring J.E. back after 5 years of studying and taking the necessary steps. Capital is essential to life.
Episode Highlights Here:
Eddie Austin:
We also plan to have maybe some Class A preferred equity in there. Somebody wants to put in a large lump sum, say an institution and they want to be first and foremost, or secondary to the main deck.
Pierce York:
What’s the strategy?
Eddie Austin:
So it’s another 506 C fund, we’re looking to invest in Texas, Oklahoma, Florida, Georgia, the Carolinas, and a little bit of Louisiana. So with that, we’re looking for assets, that are 150 to 750 units. We’re looking for Class B, and Class A value add, we’re looking for that deferred maintenance portion off-market, of course. We haven’t decided yet whether that’s going to be a 50 million or $250 million funds. We do know, that’s the biggest target of a 70-30 waterfall, with anywhere from a 5% to 8% preferred return. We also plan to have maybe some Class A preferred equity in there. Somebody wants to put in a large lump sum, say an institution and they want to be first and foremost are secondary to the main debt. So that pref equity piece can be there. Our first fund was the A and B model. You had your LPs, and you had your us as a BP or LP is a B Member. So this would probably be an A, B, and C. So, we’ll have those pref equity pieces. And then in there, we’ll have the B, the LPs, and then we’ll have us as the general partners.
Pierce York:
Awesome. So if you guys want to learn more about that, and all multifamily, correct, no, all asset class?
Eddie Austin:
Nope, just multifamily.
Pierce York:
How many doors do you guys currently have under management?
Eddie Austin:
So, we actually disposition all everything that we owned. So, we’re doing about the highest risk possible. But we’re partnered up with some people that have around 5,000 units under management currently. they’re going to be a huge addition to the team. And with that, it will definitely help with every aspect of going faster. You know, everybody wins together.
Pierce York:
Absolutely. Teamwork makes the dream work for sure.
Eddie Austin:
You’re not the smartest person in the room unless you’re there to teach and getting paid highly for to do it.
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About Eddie Austin
Eddie Austin is a Serial Entrepreneur. He is the Founder of JE Capital Fund II, a Multi-family Real Estate 506 syndication fund.
Eddie Austin grew up in South Florida and Southern Indiana. Numerous role models, mentors, and business experiences taught him the value of recognizing profit opportunities in changing markets. He has devised a bold, visionary concept for a new type of real estate company that will profitably and aggressively grow by leveraging changes in the home real estate market and an innovative capital structure. Eddie’s primary goal is to build companies that have better relationships. He is constructing businesses that provide excellent returns to investors. Eddie believes in doing things that make you feel good, such as hard work, excitement, and interactions.
Eddie began homeschooling after elementary school in order to accelerate his high school education. He was able to finish two high school grades per year while also taking vocational courses in welding, automotive, and diesel. He graduated from high school in 1999, two years ahead of schedule. He quickly became government-certified in various types of welding after finishing high school. He then moved into diesel and automotive, where he earned certifications in electrical diagnostics, service management, and fundamentals. Eddie began working as a maintenance technician at a Toyota manufacturing plant in 2004, where he earned certifications in advanced electrical, PLC/CNC, robotics, and programming. Eddie worked his way up the corporate ladder over the course of 13 years. Started as a member of the maintenance team and left the company as the Maintenance Assistant Manager. Eddie started his first business in 2015 while working as an electrician at a local solar company. All while researching the expanding real estate market in various parts of the country and discovering new ways to build a better real estate investment firm. Eddie knew it was time to bring J.E. back after 5 years of studying and taking the necessary steps. Capital is essential to life.
