What do you get when you combine two old friends and a younger brother? It may sound like the start to a bad joke, but these real estate powerhouses are not playing. Ari Rastegar, founder and CEO, Rastegar Property Company; Dustin Mehaffey and Major Miller of American Realty Consultants; and Nic Costello, real estate broker, and Rastegar’s younger brother, have joined forces to make real estate deals that are turning heads.
AUSTIN, Texas /Mortgage and Finance News/ — What do you get when you combine two old friends and a younger brother? It may sound like the start to a bad joke, but these real estate powerhouses are not playing. Ari Rastegar, founder and CEO, Rastegar Property Company; Dustin Mehaffey and Major Miller of American Realty Consultants; and Nic Costello, real estate broker, and Rastegar’s younger brother, have joined forces to make real estate deals that are turning heads. Rastegar’s recent sale of Lamar Oaks, a vintage apartment community in northeast Austin, is just one example of a deal sold off-market by American Realty Consultants.
“Working with your childhood friends and family at the highest level of productivity is a rare blessing. Of course, they all know me and the Rastegar Way,” Rastegar says.
Miller and Rastegar met in seventh grade and used to sell baseball cards. Years later, Rastegar met Mehaffey while studying abroad in Mexico. Little did they know these friendships would develop into a profitable, business career.
“Ari is not only one of my best friends, but has more integrity and care for his clients and colleagues than anyone I’ve met; he’s always been that way. In my opinion, he’s the best real estate investor in the country. Craig Irvin, our internal multifamily expert, led the charge on finding the buyer and together we closed the sale,” Mehaffey says.
On May 24, 2022, Rastegar completed the sale of 8071 North Lamar Boulevard in the rapidly growing Austin corridor, Georgian Acres. The property was initially purchased in November 2020 and just sold at a profit on behalf of their JV partner, a large Texas-based insurance company.
Rastegar takes a distinctive approach to real estate targeting recession-resilient opportunities. This strategy helps to manage downside risk, by focusing on capital preservation and passive income as well as growth. He’s successfully invested in more than 38 cities, 12 states and seven different asset classes. Their current area of focus is on the growing sunbelt region.
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