Mon, 15 May 2017
As apartment building investors, we realize that off-market deals are the holy grail of our business. But we also know that you have to build relationships with industry insiders in order to access those deals on multifamily properties, and it can be difficult to cold call asset managers, hedge fund operators and associates at private equity firms. If only there was a social media platform that afforded access to a database of professionals and their contact information… Hey, wait a minute! That platform does exist, and today’s guest is here to share how you can use LinkedIn to find off-market properties and earn massive profits.
Jason Lucchesi is known in real estate as the #1 off-market property strategist. He got his start in the industry with Countrywide Home Loans in 2002, serving in the mortgage origination space. In his five years there, he worked his way from account executive to branch manager, but Jason had the good sense to jump ship at the end of 2007 and shift into full-time real estate investment. He has closed REOs, short sales, bulk packages, non-performing notes, and both residential and commercial off-market properties.
Today Jason shares the step-by-step process of connecting with real estate professionals, from initiating a dialogue on LinkedIn to closing the off-market deal. Listen and learn the ‘bank language’ you need to know to communicate with asset managers and land distressed assets for 20-30% of fair market value.
[3:01] The types of investments Jason pursues
[6:37] How Jason got into commercial investments
[8:36] Jason’s first multifamily deal
[10:47] How Jason employs LinkedIn to find off-market deals
[14:05] How Jason initiates contact with asset managers via LinkedIn
[18:18] The script Jason uses in dialogue with asset managers
[19:20] How Jason works with asset managers once connection is established
[24:14] The property information typically provided by asset managers
[27:00] The key strategy that has worked best for Jason
Connect with Jason
Right Flipping Now by Jason Lucchesi
Direct download: MB_066_-_Find_Off-Market_Multifamily_Deals_-_With_Jason_Lucchesi.mp3
Category:Commercial Real Estate -- posted at: 7:03pm EDT
Tue, 9 May 2017
Paul Moore had just gotten his real estate license when he wrote his first book, The Definitive Guide to Smith Mountain Lake Real Estate. Though he didn’t have a track record as an agent, the book made things happen for him, attracting people, money and listings. The work he put into researching the book established him as a professional and propelled his career forward in a big way.
We all have a story to tell, and most of us have considered writing a book to share that story. Being a published author pays huge dividends in terms of credibility, and it’s something you can use as leverage in making deals… Especially if you’re new to the world of investing in apartment buildings. But how in the world do you get started? And how do you carve out the time to sit down and write an entire book?
Nick Raithel is the creator of 7-Hour Book, a proven system that can give you clarity in terms of what you want to write about, assist you in developing an outline, and even partner with you in the writing itself if you don’t have the time to devote to the project. He is on a mission to help real estate investors get the recognition they deserve and attract new business and investment opportunities. Today Nick discusses how publishing a book aligns with the objectives of a real estate investor, the benefits of the ‘thud factor,’ and the components of a book launch. Listen in to learn the real-world results you could enjoy from being a published author!
[1:43] How publishing a book aligns with the objectives of a real estate investor
[4:34] The benefits of the ‘thud factor’
[5:40] The most common mistake made by aspiring writers
[7:38] The real-world results of publishing a book
[9:19] An example of the 7-Hour Book Process
[12:40] How to develop an idea for a book
[14:18] How 7-Hour Book is different from a ghostwriting service
[16:21] How to measure those results
[18:04] The elements of a book launch and the associated marketing
[19:51] How the Book Boost provides the ‘kick in the pants’ you need to get started
Connect with Nick
Mon, 8 May 2017
As apartment building investors, we understand that brokers control the vast majority of real estate deals – and we know that having a ‘in’ with brokers is the only way to score those elusive off-market deals. But if you are just getting started, how exactly do you build rapport with the brokers and partner to source off-market deals?
After graduating from the University of North Texas with a degree in finance, Michael Becker spent nearly ten years at Wells Fargo. During the last five years of his stint in commercial real estate banking, he focused exclusively on multi-family properties and became the number one loan producer for his division three years running. But Michael recognized that he was on the wrong side of every deal, and he made the switch to apartment building investment in June of 2014. In just three years, he has scaled the business, Strategic Property Investment (SPI) Advisory from zero to 4,300 units. Michael also hosts Old Capital, a podcast aimed at multifamily real estate investors.
Today Michael offers sage advice regarding how to cultivate a team, establish credibility and land your first deal. He also shares how to meet brokers face-to-face and establish relationships so that they will partner with you on off-market deals, as well as strategies for sourcing pocket listings. Listen and learn how to provide value to brokers so that you’re top-of-mind when deals come available.
[3:29] How Michael was able to scale from zero to 4,000 units in three years
[6:18] Why Michael feels so strongly about utilizing brokers to find deals
[7:45] Michael’s advice for newbies on how to build relationships with brokers
[9:10] How Michael scores the elusive pocket listing
[10:58] Michael’s tips for new investors to be taken seriously and land their first deal
[13:40] Michael’s recommendations for networking events
[16:29] How to maintain a solid working relationship with brokers
[19:00] How to source off-market deals
[25:48] Other ways to find off-market deals
Connect with Michael
Direct download: MB_064_-_The_Right_Way_to_Work_with_Brokers_to_Find_Off-Market_Deals__With_Michael_Becker.mp3
Category:Commercial Real Estate -- posted at: 6:51pm EDT
Tue, 2 May 2017
Society teaches us that hard work leads to a great life, so we build a career first and try to fit life into what is left over. But perhaps there is a better approach… What if we could design our lives first, and then fit business into what was left?
Steve Cook began his career in the restaurant business, but failed miserably. Success came with a move to real estate investing, and three years in he had $7M in assets. Flipping houses allowed him to accumulate a great deal of wealth, and his financial advisors were committed to helping him accrue even more. Steve was doing everything right, but he wondered when he would get to enjoy it. The business had become his life, and he was compromising everything that was important to him.
Committed to simplify his life and break free from lenders, Steve made radical changes. He stopped borrowing, downsized to reduce expenses, and pared down his work hours so that he could be the husband and father he wanted to be. In the book Lifeonaire, Steve Cook outlines his approach to the pursuit of an abundant life, and today he shares that philosophy with us. Listen in and learn how to shift your mindset, overcome cultural conditioning, and pursue the life you want right now!
[7:09] The message of Steve’s book, Lifeonaire
[8:24] Steve’s moment of realization
[13:02] How Steve’s life went from simple to complicated in a three-year span
[13:58] How Steve simplified his life
[20:35] The shift in Steve’s approach to real estate investment education
[21:46] How to reduce your working hours
[24:52] Steve’s guidance for living the life you want NOW
[26:17] The definition of ‘lifeonaire’ and how the term was conceived
[29:34] Why more people don’t subscribe to the lifeonaire philosophy
[31:05] The greatest challenge for aspiring lifeonaires
[32:35] How long it takes to become a lifeonaire
Connect with Steve
Lifeonaire by Steve Cook and Shaun McCloskey
Direct download: MB_063_-_Changing_Your_Financial_Life_as_a_Lifeonair_-_With_Steve_Cook.mp3
Category:Commercial Real Estate -- posted at: 4:54pm EDT