Wed, 27 July 2016
In the previous episode titled, "How to Expand Your Mind To Go BIG with Multifamily Investing," I make the argument that Bigger is Better. I stand by that, so please listen to that episode before you listen to this one! However, if you go through the exercises laid out in that episode and still don’t feel comfortable with going big, I have a Plan B: duplexes
Why Duplexes Are the Perfect Way To Get Started With Multifamily Investing
[3:22] Reason # 1: There's more of them and they're easier to find
[4:39] Reason # 2: You need less money
[5:01] Reason # 3: They're easier to analyze
[7:05] Vision setting is important but don’t let your vision stop you from achieving your goals
[8:08] 90 day plan to buying your first duplex
[8:51] Week 1: Educate yourself
[9:35] Week 2: Determine investing area
[10:27] Week 3: Analyze 5 deals
[17:58] Week 4: Start raising money
[19:04] The Last two months
Direct download: MB_042-_How_To_Do_Your_FIRST_Apartment_Building_Deal_in_the_NEXT_90_days-2.mp3
Category:general -- posted at: 4:14pm EDT
Mon, 11 July 2016
It’s just me on this episode and I want to talk with you guys about mindset. Expanding your mind is something help you achieve your goals in the fastest way possible. Staying within your comfort zone can do the opposite.
In this podcast I outline 5 Reasons why bigger is better with apartment building investing and then give you 3 practical ways to expand your comfort zone, so you can do more/bigger deals.
[0:30] We limit ourselves based on what we believe is possible.
[3:14] Buying an apartment building twice as big really doesn’t add that much work.
5 Reasons Why Bigger is Better with Apartment Building Investing
[4:18] Reason # 1: A Much Better Buying Experience
[4:55] Reason # 2: Economies of Scale.
[5:25] Reason # 3: Less closing costs as a percentage of the deal
[5:55] Reason # 4: Better financing
[6:40] Reason # 5: Bigger Profits for less work
3 Practical Ways to Expand Your Comfort Zone (So You Can Do More Deals!)
[10:31] Tip # 1: It all starts with visualization
[12:01] Tip # 2: Create a sample deal package.
[13:43] Tip # 3: Visit properties that are outside of your comfort zone
Mentioned in this Podcast:
Book: The Miracle Morning
Movie: The Secret
Direct download: MB_041-_How_to_Expand_Your_Mind_To_Go_BIG_with_Multifamily_Investing-2.mp3
Category:Commercial Real Estate -- posted at: 1:39pm EDT
Sat, 2 July 2016
I’m doing something a bit different with this episode and I think you are going to really enjoy it. While I realize that the name of this podcast is “Apartment Building Investing” it’s good for us to expand our minds and see what else is out there.
Today I’m joined by Jefferson Lilly to talk about mobile home park investing!
Jefferson Lilly is a self-made millionaire mobile home park investment expert, educator, and industry consultant. Prior to co-founding Park Street Partners in 2013, Mr. Lilly spent seven years investing his own capital acquiring and operating his own mobile home parks. Before becoming an investor full-time, Jefferson spent nine years in sales leadership roles with several venture-backed startups in Silicon Valley. Jefferson has been featured in The New York Times, Bloomberg Magazine, and on the 'Real Money' television show. He holds a B.A. from the University of Pennsylvania and an MBA from the Wharton School of Business.
[6:58] In the mobile home business, you want to own the land, not the homes. “Be in the real estate business. Not the wheelestate business.”
[8:08] Owning the land only, cuts out the vast majority of repair and maintenance that you are responsible for.
[8:53] What to look for when investing in mobile home parks.
[13:19] What to look for in an onsite mobile home park manager:
[20:22] People tend to treat the park and their homes with more respect the father north you go (in the U.S.).
[22:16] When starting out, be hands on for the first 6 months. After that, think about outsourcing tasks.
[25:05] Income streams from Mobile home parks:
[26:13] Common financing options for mobile home parks:
[30:44] Primary ways to find deals:
[34:09] Why mobile home parks can offer great upside:
[38:38] Ways to invest in mobile home parks:
How to Connect with Jefferson
Podcast: Mobile Home Park Investors
Direct download: MB_040-_All_About_Mobile_Home_Park_Investing_-_With_Jefferson_Lilly-2.mp3
Category:Commercial Real Estate -- posted at: 1:45pm EDT