Thu, 15 March 2018
If you take the time to sit down and get clear on the direction of your life, you may find that growing a business for yourself and your family will afford you the flexibility and time to pursue hobbies, to travel, to spend time with the people you love—and build wealth in the process. More often than not, time invested in reflection is what ultimately inspires action among aspiring multifamily investors.
Scott Price and his wife Karen run Bonvolo Real Estate Investments. They have been investors since 2003, owning and managing multifamily, office, retail and land properties across multiple markets in Washington state. From 2003 through 2007, Scott worked as a broker and earned Seattle Magazine’s Best in Client Satisfaction Award three times before returning to his career in project management. He has steadily grown his real estate portfolio while working full-time at Microsoft, but now he is quitting his W-2 job to focus on Bonvolo full time!
Scott sits down with me to share the experience that distracted him from pursing real estate after college and how the desire for flexibility ultimately brought him back. He explains why he went straight to multifamily as an investment strategy, how he was able to overcome his inexperience, and the business plan for his first 29-unit property. Listen in as Scott reflects on how a lack of awareness about syndication led to slow growth and addresses his plans to give back to the community now that he does real estate full time.
Scott’s introduction to real estate
When Scott first took action in real estate
Why Scott returned to real estate
Scott’s initial real estate strategy
Why Scott went straight to multifamily
The initial challenges Scott faced in multifamily
How Scott overcame his inexperience
Scott’s first 29-unit deal
Scott’s business plan for creating value
What’s next for Scott
Scott’s advice for his younger self
Why Scott was too conservative early on
Scott’s challenges around syndication
Scott’s guidance for aspiring investors
What Scott is looking forward to
Connect with Scott
Direct download: MB_100_-_Reflection_Inspires_Action_in_Multifamily_Investing__With_Scott_Price_-_mp3.mp3
Category:Commercial Real Estate -- posted at: 6:47pm EDT