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Apurva Sanghavi Profile
Apurva Sanghavi

@apurva212

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President - @matadorlending NMLS #1871433 - Houston native, mortgage lender, real estate investor, tech junkie, and EO Member. Previously @starthouston @trulia

Houston, TX
Joined August 2008
Don't wanna be here? Send us removal request.
@apurva212
Apurva Sanghavi
9 months
Hot take! 🔥 These wall features are going to be like granite countertops in the 90s… cool until they weren’t cool. Drywall repair guys gonna be booming in the next few years!
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@apurva212
Apurva Sanghavi
3 years
Alright so here's the story on our acquisition of Morris Self Storage... how I sourced it, the deal structure (just around 16% cash of out pocket), our call with @sweatystartup , the value adds, the bonus house, & why we think its going to double in value...giddy up! #Retwit 🧵👇
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@apurva212
Apurva Sanghavi
3 years
Boom! Closed on our 1st storage facility! Lots to unpack, deal summary coming out soon! 106 units +10 parking and a 🏠. Fully occupied and in place 10cap! Shout out to @sweatystartup for helping us analyze it, worth every penny! We even have some land to grow our own 🍅 farm 🤑
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@apurva212
Apurva Sanghavi
1 year
A hill I’ll die on… These garage doors are ugly, they don’t mesh with most modern home designs and actually cheapen the look of the house. Am I wrong here? #modernhome #retwit
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@apurva212
Apurva Sanghavi
2 years
🔥BOOM!! 🔥 Closed on our Self Storage 2nd facility…4x the size of our first one… 400 units, about 30 minutes outside of San Antonio!… deal summary below 👇🏼
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@apurva212
Apurva Sanghavi
3 years
Shop around and do your own homework… got 3 concrete driveway quotes from my builder, steep but fair, I decided to try one more idea myself..found a paver vendor for $1K less than the lowest bid from all the other guys, so much nicer!! This is the progress…
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@apurva212
Apurva Sanghavi
4 years
Sales 101: if your phone isn’t ringing all day, it needs to be dialing all day.
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@apurva212
Apurva Sanghavi
3 years
How it started… How it’s going! Mission complete! We finished the house after nearly a 2 year journey! Learned so many lessons of building custom… thread coming soon!
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@apurva212
Apurva Sanghavi
2 years
This young man is hustling on a hot Sunday morning…high school kid and he is working the neighborhood power washing driveways and building a small business for himself! We were happy to hire him and be a small part of his journey! Reminds me of @sweatystartup 💪🏼
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@apurva212
Apurva Sanghavi
2 years
If your subcontractor shows up in a company wrapped Ford Raptor, you’re ngmi.
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@apurva212
Apurva Sanghavi
4 years
Indian negotiator trick.. for any large purchase (house, car, etc), take your estimate/bid and have your sales person walk you through it, and for each line item, just ask “do I have to pay for this? And why?”... watch them squirm, and numbers drop like magic! 😎
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@apurva212
Apurva Sanghavi
3 years
We finished up our storage business logo, what do y’all think? Meet Victory Storage! 🇺🇸
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@apurva212
Apurva Sanghavi
3 years
...Thanks for reading along!! if you enjoyed this summary, smash the retweet on this thread 🙏 and show me some love! DM's are open and subscribe to my newsletter (link in bio), oh! we've found our next facility and raising our first fund for it, more on that process soon! ✌️
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@apurva212
Apurva Sanghavi
3 years
Under contract for our 2nd Storage Facility in TX!! This one is a much bigger facility right around 400 units, 67K SQ FT, we have room for expansion and its been run as a mom/pop (on site manager, offline systems), but its in fantastic condition…
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@apurva212
Apurva Sanghavi
1 year
@g_leichtfuss I personally love a clean wooden door, still works well with modern aesthetic and ads contrast, warmth, and texture… something like this…
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@apurva212
Apurva Sanghavi
4 years
Working on my first self storage deal, toured today and it checks all the boxes for @sweatystartup playbook, retiree seller, analog ops, smaller market, LOI going out this week and what they don’t know is I baked Nicks consult into the offer price too! 😜
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@apurva212
Apurva Sanghavi
2 years
What a wild couple weeks! Little Sofia finally joined us on 5/7 after going a week past her due date. Baby and momma are both home and healthy! We are over the moon and I cant wait to start the #girldad life!
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@apurva212
Apurva Sanghavi
4 years
Update: Under contract, 106 unit self storage, 98% occupancy, smaller town outside of Houston. Room for expansion and a House on 1 acre in the package. Inspections look good, this one is full steam ahead! Especially proud of how we structured (if it closes), deal summary soon!
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@apurva212
Apurva Sanghavi
4 years
Working on my first self storage deal, toured today and it checks all the boxes for @sweatystartup playbook, retiree seller, analog ops, smaller market, LOI going out this week and what they don’t know is I baked Nicks consult into the offer price too! 😜
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@apurva212
Apurva Sanghavi
3 years
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@apurva212
Apurva Sanghavi
3 years
Biggest take away from lending conference today… capital markets are THIRSTY for SFR rental properties loans… expect to see very competitive rates and products in this space (1-4 unit DSCR and long term rentals)… great news for all our SFR investors clients!
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@apurva212
Apurva Sanghavi
3 years
Drywall has finally started!
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@apurva212
Apurva Sanghavi
2 years
Newbies: How do you invest in Real estate with $1000? When I was starting out with very little $, I placed small bets and ended up 10xing most of them! Here’s what I did…. 🧵👇🏼
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@apurva212
Apurva Sanghavi
2 years
We had bought this old bank building in a small TX town in 2020, had big plans for it but our mortgage biz was so slammed in 21 we let it sit there vacant and didn’t focus on it (really dumb)…
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@apurva212
Apurva Sanghavi
3 years
My partner informed me that a tenant at our storage facility setup a whole gym and does personal training sessions out of it… I’m both impressed and annoyed at the same time. We only found out cause he had his clients doing laps around the facility! 😂
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@apurva212
Apurva Sanghavi
2 years
RE Model we are trying: Buy house cash (discounted) Match with end buyer that needs owner financing Sell house at market (appraised) to end buyer with OF 20-30% down Service note for 1 yr to season Sell note in private market or buyer refis us after 1yr Repeat Thoughts? #retwit
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@apurva212
Apurva Sanghavi
3 years
Had a doozy of a weekend… freak accident coming down the stairs, missed a step and broke my leg in 2 places, spent sat night in the ER hallway waiting for a bed, had surgery Sunday to insert rod and screws, now 3-4 months of recovery…
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@apurva212
Apurva Sanghavi
4 years
One of our RE clients learned a hard lesson yesterday... had grabbed a ~$2MM lot to develop a large MF after we helped them swoop in and get it under contract the day they were signing another offer, literally out of another buyers hands...
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@apurva212
Apurva Sanghavi
3 years
Residential Mortgage Appraisals are a complete Sh*tshow... In some markets they are taking 4-6 weeks to complete Some assignments are not even getting picked up Some are getting quoted nearly $10K+ to appraise a SFR! (WHAT!) #Retwit Here’s why….😩👇🏼
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@apurva212
Apurva Sanghavi
2 years
Garage gym set up finally done! Running out of excuses… 😅
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@apurva212
Apurva Sanghavi
3 years
I joined twitter in 2008… for years I followed mostly media/news accounts, sports teams, etc, last year I trimmed most and focused on leaders in my industry (real estate/mortgage) and found the little corner of #retwit , it has completely changed my daily focus and trajectory!
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@apurva212
Apurva Sanghavi
4 years
In and out in 5 min today! #HarrisVotes 🇺🇸
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@apurva212
Apurva Sanghavi
3 years
Finished the cosmetic work on the little SFR we grabbed next door, leased in 2 weeks!! We got a 2 year lease, with a 1 year extension option. Set it and forget it… now on to the refi!
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@apurva212
Apurva Sanghavi
3 years
@GuyDealership In person shopping at dealership is painfully too slow of an experience, sometimes hours between sales person, finance, keys. Feels like on purpose to fatigue buyer in negotiations, but I avoid going in completely now. All over phone/email, I’ll go pick up once keys are ready.
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@apurva212
Apurva Sanghavi
2 years
Came across this franchise biz, this truck compacts dumpsters to make less dumpster turn overs for job sites etc… curious of RE devs thoughts, have y’all used this? See any value in the service? @DonovanBuilds @TyronMcDaniel @FelixOrtecho
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@apurva212
Apurva Sanghavi
4 years
...Classic lesson of stepping over dollars to pick up pennies. Luckily we move on to other development sites and buyers looked in the mirror to realize they took their eye off the prize, but man choose your cheapness wisely people! Lol sigh
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@apurva212
Apurva Sanghavi
3 years
To think this logo could be polarizing is so weird to me.. but here we are. It’s a storage unit people.. woosahhhh.
@apurva212
Apurva Sanghavi
3 years
We finished up our storage business logo, what do y’all think? Meet Victory Storage! 🇺🇸
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@apurva212
Apurva Sanghavi
3 years
Businesses I tried and failed: DesiMode - Indian magazine (oof, it still hurts) YoAuto - auto parts marketplace SmartSmS - text autoreply bot Worknest - coworking biz Throttle - personal finance app Realzy - ibuyer wannabe Keep going… it’s part of the process.
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@apurva212
Apurva Sanghavi
3 years
We have flooring finally! Crawling to completion but this was big domino that needed to fall!
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@apurva212
Apurva Sanghavi
3 years
Will be obnoxiously tweeting all the action from @REconveneLA for the next 36 hours… you’ve been warned! #Retwit
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@apurva212
Apurva Sanghavi
4 years
Whether your flipping houses or ground up developing, I don’t care how long you’ve known your GC or how many jobs you’ve done with them… someone thats a principal in the deal needs to go to the job site almost every single day, no one will watch the details like an owner will.
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@apurva212
Apurva Sanghavi
3 years
I got a phone call today and a lady said “I heard you bought a storage facility and it’s now full and operating at a 14 cap!”, I said how did you know? She said I read about it on Twitter. It was my mom and she read my tweets through google. The internet is incredible.
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@apurva212
Apurva Sanghavi
3 years
Indian Parent Version: If your kid isn’t the top 1% of math and science by 3rd grade stop devoting your life to anything else and get your parenting act together!
@sweatystartup
Nick Huber
3 years
If your kid isn’t in the top 1% of sports by 3rd grade stop devoting your life to living vicariously through them.
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@apurva212
Apurva Sanghavi
3 years
A few things we added to our new construction family home that I think will become more and more standard in the future: taexx pest control system, parcel locker for package delivery, car chargers in the garage, what else is a modern must have? @AyeshaSelden @antonia_mdprjct
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@apurva212
Apurva Sanghavi
3 years
Born and raised in the US has been a blessing and privilege for me, equally is the blessing of seeing countless numbers of immigrant family and friends come to the US and build their futures in the land of opportunity, no greater country in the world! Happy 4th America! 🇺🇸 🇺🇸
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@apurva212
Apurva Sanghavi
3 years
@RohunJauhar Just traded in my explorer st for this, loving it so far! MDX type S, 3 rows but still hauls ass!
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@apurva212
Apurva Sanghavi
2 years
@RohunJauhar Been slanging mortgages for 20 years, rates adjust buying power but don’t stop demand. The last 2 years everyone got to play and win the rate lotto, odds of that happening again are very low. Buyers will adjust buying power but still buy homes, expect to see arms make a come back
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@apurva212
Apurva Sanghavi
4 years
New substack post! How we netted $200K in 1 year without any rehab buying a Payless building!
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@apurva212
Apurva Sanghavi
3 years
Just when I thought I was done with SFRs… my new neighbor knocked on the door… a quick 🧵!
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@apurva212
Apurva Sanghavi
3 years
...so how did we approach the offer? Well with @sweatystartup playbook of course, here's the LOI i sent them (Look familiar?) , for me the goal was to roll the proceeds from a recent rental sale into this deal, so I wanted to minimize my cash outlay, so "Your price, my terms"...
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@apurva212
Apurva Sanghavi
2 years
My baby girl grabs my shirt with her little fist every time I’m putting her down… and she holds on tight even after she falls asleep… If you need me, I’m the big pile of mush that melted in the corner.😍😭
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@apurva212
Apurva Sanghavi
3 years
Finally hitting the room after a whirlwind of opening night @REconveneLA the level of talent here is absolutely absurd, my head is spinning from all the RE discussions ive already had in 1 place. Grateful to be a small fish in a big pond that @moseskagan filled in LA this week!
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@apurva212
Apurva Sanghavi
3 years
Anyone in Houston today want tickets to the Texans game? It’s a set of 3. (Free) Noon start at NRG stadium. Would love to treat any of my followers and their friends or family!
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@apurva212
Apurva Sanghavi
2 years
Why isn’t there a food truck that serves dumplings 🥟? And WHY is it not called THE DUMP TRUCK???
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@apurva212
Apurva Sanghavi
4 years
Our Missouri City building rehab is in the final home stretch! Bathrooms almost done, sprinklers going in next and we’re starting interior suite framing! T-minus 90 days for this bad boy to start seeing tenants!
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@apurva212
Apurva Sanghavi
4 years
RE transactions are very emotional, esp in residential... i'm still trying to teach my team that there will be hiccups, esp in this environment, but the worst thing you can do is avoid the problem, people get very worked up when you go dark. Just pick up the phone, every time.
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@apurva212
Apurva Sanghavi
4 years
@moseskagan @jdecentralized @AyeshaSelden @bahiyyudin Why does “low income” have to be “low quality”? There is plenty opportunity for RE investors and developers to put good product out there at affordable prices, the smarter ones work with municipalities to get grants and incentives to do it, increasing ROI. Look at @TyronMcDaniel
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Apurva Sanghavi
4 years
All of these where made in 1969... what a year for American cars! 🇺🇸
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@apurva212
Apurva Sanghavi
3 years
Signed the closing papers to sell my final SFR rental property today, bittersweet as it was the end of an era but I’ve officially graduated out of SFRs! Onwards to larger deals and first GP deal, can honestly wouldn’t feel as confident had it not been the last year of RE Twitter!
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@apurva212
Apurva Sanghavi
3 years
...Okay the numbers, here they are, for you number crunchers just know im a napkin math guy, i look at income, expenses, NOI, and cash on cash (actual and conservative proforma), if i like the #'s, im moving forward, one thing to note, this includes the House, so about that...
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@apurva212
Apurva Sanghavi
3 years
Have a self storage seller deal we’re not taking down, good Texas tertiary market but we’re stretched on the current deal we’re working. Sharing it in the wild to give everyone a chance on it. Seller info: number is (713) 533-6500, ask for Mr. Lyon! Good luck #retwit ! 💪🏼💪🏼
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@apurva212
Apurva Sanghavi
4 years
Here she is! Previous Wells bank building! We just passed inspections and it’s in fairly decent shape, smack in the middle of a town called Poteet, Tx, about 25 min outside of San Antonio. Should close in a couple weeks, will be our first retail store front for @matadorlending
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@apurva212
Apurva Sanghavi
4 years
LOI pending on a small town freestanding retail building, had national owner that vacated. May be getting this at 50% tax value and well below rebuild cost. Easy landlord play that should have stabilized double digit cap. Once we lock it up, can’t wait to share the details.
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Apurva Sanghavi
3 years
Walked without a walker or crutches for the first time since January 22nd yesterday. Health and mobility has shot up to the top of my list of things that matter… not taking for granted the independence it grants you ever again. 🙏🏼
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@apurva212
Apurva Sanghavi
3 years
Building a house chronicles: Waiting eternity for custom front door to be ready, steel, 10’ tall, powder coated… Perfection right? Well today, delivery guy brings it unwrapped on his truck, it falls off and drags it 200 yards, shreds it to hell, sending it back tomm🤦🏻‍♂️🤦🏻‍♂️
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@apurva212
Apurva Sanghavi
4 years
Been searching for security cameras for our job sites with cellular most need wifi or insanely expensive, my 70yr old neighbor suggested a hunting trail camera… I’ve never hunted so didn’t even know about them (im vegetarian), mind blown, great options and low cost, who knew!
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@apurva212
Apurva Sanghavi
1 year
Today my daughter took her first steps, and my son swam by himself in the pool without floats. Both of them smiled ear to ear and beamed of pride in themselves. Mom and dads hearts were completely filled. These moments eclipse everything else. Today was an amazing day.
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@apurva212
Apurva Sanghavi
4 years
Under due diligence for our 16unit… its in solid shape already but we can improve rent rates with minor interior updates… previous owner put some $ in already. This will be just a long term cashflow play, not a huge amount of value add but we like the market! @Mehul14345387
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@apurva212
Apurva Sanghavi
4 years
Have a friend, who were helping finance, buying 140 acres of wooded land with a nice house on it with ponds and river access just 45 min outside of Houston for under $900K... TX is incredible!
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@apurva212
Apurva Sanghavi
9 months
@PriteshSMB IMHO these are NOT cool! 😅 just go clean quartz every day, no longer a cost decision like it once was.
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Apurva Sanghavi
3 years
Hussain is criminally under followed… if you want to see a lean operator building an empire of quality RE holdings, follow along on his journey! Congrats on another great pick up!
@hussain_nathoo
Hussain Nathoo
3 years
Excited to get this one closed last week. 18 acres of outdoor storage one mile from Dell's campus in Round Rock, TX (suburb of Austin). Hopefully @fortworthchris prediction #3 for 2022 comes true!
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@apurva212
Apurva Sanghavi
2 years
I don’t plan on buying vacant RE again anytime soon, in this current environment I value in place cashflow far more than opportunistic rehab or value add…
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@apurva212
Apurva Sanghavi
3 years
Been on a twitter hiatus for few weeks… finally finished our house and moved, and was heavily focused on strategy for 2022 across all business units, @matadorlending , Matador Realty, and storage investing. Can’t wait to share progress updates on many fronts! C U IN 2022!✌🏼🎉
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Apurva Sanghavi
3 years
One of the coolest thing about brokering commercial real estate, when there’s big players negotiating on both sides, you get to learn how each side analyzes and structures a deal. So many unique ways to make a deal happen, it’s not just seller price vs buyer price.
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@apurva212
Apurva Sanghavi
4 years
Okay Houston, I’m sorry for every time I cursed the hot and humid days… we can go back to that forever, thanks.
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@apurva212
Apurva Sanghavi
3 years
Sometimes stars align… We hired a guy to install tvs and art around the office, while he was working he overheard our team talking about mortgages…
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@apurva212
Apurva Sanghavi
4 years
Windows went in today! Hit some slow downs due to weather but finally back on track, still a solid 6 months away from completion but the house is starting to feel real!
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@apurva212
Apurva Sanghavi
3 years
I’m about 1 month from being a girl dad...👧🏻🙏🏼, what should I know about raising a girl that’s different than a son (my boy is almost 5)? All of you daughters out there, what’s the best thing about your Dad? #girldad
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@apurva212
Apurva Sanghavi
4 years
Just sent out 4 offer letters to new team members who wanted to break into the Mortgage industry… assuming they join us, we’ll be over 30 strong by Feb… 18 months ago there was 4 of us! We’re hiring people without exp to bring new ideas and training them our way, lets go 2021!
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@apurva212
Apurva Sanghavi
3 years
Next up @EllliotttB CEO of stREITwise and Partner at Tryperion
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@apurva212
Apurva Sanghavi
4 years
We bought a property last year to build our new home, the existing house had a nice dated but live-able home on it (pics). Instead of just tearing it down, we learned about deconstruction, we ended up using Habitat for Humanity. /1
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@apurva212
Apurva Sanghavi
3 years
Whats the most exciting RE fintech or Proptech startup you’re watching right now? Who’s really going to be disruptive in the next few years? @sweatystartup @fortworthchris @Keith_Wasserman @moseskagan @antonia_mdprjct @girdley @jrdorkin @AyeshaSelden @JoshuaBaer @ClaytonACollins
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@apurva212
Apurva Sanghavi
3 years
Overdue for on an update on this building, our 14 exec suites are nearing 80% full, nearing ~40% occ on the building… today we had a killer meeting with a potential occupant of all of the remaining space as a JV that still gets us our base rent first, pray the RE Gods for us!
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@apurva212
Apurva Sanghavi
4 years
Seller rescinds extension offer and isn’t going to extend anymore... shock and awe on our side (saw it coming)... previous buyer (who we leapfrogged) came back, beat our #, AND giving $100K hard EM day 1... it’s over, we lost the deal.... for haggling $5K. So many 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️...
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@apurva212
Apurva Sanghavi
4 years
My brother @mehul_shah_CBC just locked us up a 16 door MF under $70K a door, fully occupied in Houston... he set a goal to get a deal before the year was up and hustled us one! 💪🏼💪🏼
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@apurva212
Apurva Sanghavi
3 years
How I built a mortgage business.... (and little about me) RE businesses have many sides, but lending though exposed to RE is truly just a paperwork business. I didn't intend to find this career but i dont think i'll ever leave... Here's how it all came together.... a 🧵👇
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@apurva212
Apurva Sanghavi
3 years
...we closed about 2 weeks ago and the letters for new rents are out, some push backs (expected) but many have already signed new leases, we're converting to ESS (it has no website!), we will be rebranding, and going fully online & automated, so the in place CAP is a 10CAP🤠...
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@apurva212
Apurva Sanghavi
2 years
And lastly being a lender or carrying a seller note helps you structure deals that make sense for both sides, and in our case hit reasonable returns. I had a huge exhale today. I did not want to enter next year with this property on our books, we funded today…
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@apurva212
Apurva Sanghavi
4 years
Brick is finally going up! This is before the slurry coat will go on... these trades are amazing and got this up in 2 days!
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@apurva212
Apurva Sanghavi
3 years
When @twitter first launched, its growth moment was @sxsw , in that spirit today we’re launching TheNoteFund at @REconveneLA , a real estate note fund for passive accredited investors looking for cash flow, sign up for early access here: 🙏🏼
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@apurva212
Apurva Sanghavi
3 years
...First, the main question, how did you find it? Well folks, most will be disappointed with this answer, but... it was on Loopnet! But my HACK is the filter "Date Entered" and look for listings at least 6 months old, notice the date ours was listed... 11/15/2019, over 1 yr...
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@apurva212
Apurva Sanghavi
3 years
“If we just raise rents 20%, it will be an Xcap!” “Raising rents” = 100s of notices, angry tenants, phone calls, move outs, clean outs, capital improvements, repairs, new tours, rent quotes, new leases, time, and a few details in between. Easy Peazy!
@BarryRoland19
BarryRoland19
3 years
Just a quick note to ambitious GPs: Actually executing the thing is a lot harder than typing in a few numbers in a spreadsheet. So many moving parts. And each needs human attention and oversight. True boots-to-the ground operators know that that spreadsheet ain’t shit.
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@apurva212
Apurva Sanghavi
9 months
@ClintFiore The 90s called… 😂
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@apurva212
Apurva Sanghavi
3 years
…And ✌🏼out LA and @REconveneLA , incredible event and structure of meeting some incredible RE peeps. Looking forward to another one and forging relationships and opportunities beyond Twitter! Thank you again @moseskagan so happy we met IRL, onwards and upwards! 🙏🏼
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@apurva212
Apurva Sanghavi
3 years
Does anyone actual have their phone ringer on anymore? My phones been on silent since 2010…
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@apurva212
Apurva Sanghavi
2 years
Here to see @Levijameshere @RohunJauhar dropping knowledge in Austin for aspiring GPs! Lots of @REconveneLA folks in the room again! #retwit
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@apurva212
Apurva Sanghavi
3 years
One of my fav properties in the Houston heights, wished it was occupied by something more exciting than a fast causal restaurant and a paint store but still very eye catching!
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@apurva212
Apurva Sanghavi
3 years
If you’re borrowing hard money/private money and intend to BRRRR, you should be starting your effort on the take out refi the day you close, dont wait until the end of your loan…
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@apurva212
Apurva Sanghavi
4 years
@EdelkopfYossi Never sell, “refi till you die”... new mindset I’ve recently started to process...
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@apurva212
Apurva Sanghavi
3 years
Met a “luxury asset lender” today… their model is you can get fast loans against luxury items like cars, watches, jewelry, etc. it’s basically a high end pawn shop for Ferrari’s I suppose… but one of their most prized collateral items was… a Manhattan parking spot!! RE baby!!
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@apurva212
Apurva Sanghavi
3 years
Good morning to everyone except commercial brokers who never return calls!
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@apurva212
Apurva Sanghavi
4 years
A Negotiation Super Power: Stay silent…. Had a vendor come off 15% from a top line contract by staying silent after explained all the “features” I was getting at a higher price point… kept quiet and the silence did the negotiations for me! “Enjoy the Silence!”
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