Wed, 11 April 2018
What’s differentiates a successful multifamily real estate investor from someone who dreams of financial freedom but doesn’t take action? Todd Fox contends that a willingness to fail is what sets him apart and that his failures have helped him learn, grow and gain the confidence to go out and create the next big opportunity.
Todd is the CEO of Visum Development Group. In the last 15 years, Todd has developed $35M in projects in the Ithaca metro area, and he oversees all aspects of the firm’s projects from concept formation to long-term stabilization. Visum specializes in new construction and the redevelopment of residential properties, working to maximize returns while mitigating risk for investors. The company offers a range of luxury student housing, residential and commercial investments, and they are currently working on a 207-bedroom student housing project for Cornell University worth $37M.
Todd joins me share his journey from bankruptcy to successful developer, discussing how that dark time inspired him to pursue real estate full-time. He explains how he got his start with duplexes, purchasing his first property at auction and doing an incredible amount of legwork to find the second property—three years later. Todd describes his original intention to scale up to ten duplexes and how his dreams got bigger as he gained confidence and secured a network of investors. Listen in for Todd’s insight on following your heart, learning from failure, and setting small goals to build momentum.
Todd’s path to real estate development
What inspired Todd to pursue real estate full-time
Todd’s painful experience with bankruptcy
How Todd overcame the inability to secure a bank loan
How Todd found his next deal
Todd’s decision to scale beyond ten duplexes
The organic way Todd built a network of investors
Todd’s approach to raising money
Todd’s advice for aspiring real estate investors
Todd’s insight on what sets successful entrepreneurs apart
Connect with Todd
Direct download: MB_105_-_How_a_Willingness_to_Fail_Breeds_Multifamily_Success__With_Todd_Fox.mp3
Category:Commercial Real Estate -- posted at: 11:52am EDT