Tue, 23 January 2018
Todd Dexheimer always wanted to be a multifamily investor, but he got distracted by single-family rentals and fix and flips. When he stopped to take a hard look at his portfolio, Todd realized that when it came to return on investment, the rentals were destroying the flips. Worse yet, he was still in a holding pattern—waiting to ‘graduate’ to multifamily. What would his cashflow look like if he stopped wasting time and shifted his focus to apartment buildings?
Todd began his career as a high school teacher, but the meager pay and lack of job satisfaction had him looking for other opportunities. In 2008, he and his wife used their savings to purchase a rental property as well as a live-in flip, and before long he had a significant rental portfolio and 150 flips under his belt. But Todd never stopped dreaming about multifamily, and in 2016 he got back on track and purchased a 22-unit building in Cincinnati. Now he has a total of 106-units and the ambition to grow by another 800 units in 2018.
Today Todd explains how fear, distraction, and a lack of resources held him back from pursuing his multifamily dreams. He shares the details of a 15-unit deal that didn’t go so well, yet taught him several valuable lessons and set him up for future success. Todd discusses how a hard look at his portfolio got him back on the multifamily track and offers an overview of his last two apartment investments. Listen in for Todd’s advice around being taken seriously in a new market and learning from other investors to go big quickly, rather than waiting to ‘graduate.’
The Cliff’s Notes version of Todd’s story
The problem Todd was trying to solve with real estate
Todd’s initial investment strategy
Todd’s first multifamily deal
What Todd learned from his first multifamily deal
What inspired Todd to pursue multifamily again
Todd’s second multifamily deal
Todd’s approach to being taken seriously in a new market
Todd’s first syndication deal
The value of the first deal
Todd’s advice to his younger self
Todd’s insight for aspiring multifamily investors
How Todd’s life changed after he quit teaching
Connect with Todd
Direct download: MB_092_-From_Teacher_to_Fulltime_Multifamily_Investor__with_Todd_Dexheimer.mp3
Category:general -- posted at: 1:01pm EDT
Thu, 18 January 2018
‘Don’t worry about everything you don’t know today.’
Josh Sterling’s advice for aspiring real estate investors? Jump in head first and take massive action. In fact, if Josh could go back and offer some advice to his 17-year-old self, he would recommend skipping college and getting on the fast track to multifamily as soon as possible!
But Josh didn’t know that then, and he pursued a degree in aeronautical science from Embry-Riddle University. He got a job as a commercial airline pilot and had worked his way up to captain when the recession hit, and his hard work was rewarded with a demotion and a pay cut. Josh decided then and there that he needed a side hustle that he could control, and he landed on real estate. Josh was eventually able to quit his job and pursue real estate full-time, growing his portfolio to a cool 250 units.
Josh has also grown his business, building out his own property management team. Today he walks us through his first deals in the single-family space, discussing the challenges of managing 25 properties and how that struggle inspired his shift to multifamily. Josh offers his insight around building relationships with a few good brokers, describing how he has scaled to 250 units with the help of just two realtors. He explains his approach to multifamily syndication, sharing how multifamily allowed him to quit his job, go to work on his own terms, and have lunch with his 18-month old daughter any time he wants. Listen in for Josh’s advice about establishing credibility—with or without a track record—and getting on the fast track to multifamily.
What inspired Josh to pursue real estate
Josh’s first deal in September 2009
Why Josh made the shift to multi-family
Josh’s first multifamily deal
Josh’s next multifamily deal
Josh’s approach to raising money
Josh’s first experience with syndication
How quitting his day job changed Josh’s life
What Josh would tell his 17-year-old self
How to fast track a career as a real estate investor
What Josh is excited about right now
Josh’s advice for aspiring real estate investors
Connect with Josh
Direct download: MB_091-The_Fast_Track_to_Multifamily__With_Josh_Sterling.mp3
Category:Commercial Real Estate -- posted at: 12:20pm EDT
Thu, 11 January 2018
If 2018 is YOUR year, the year you plan to do your first multifamily deal and get on the road to retirement, then the next step is to determine the route you will take to get there. There are four different roles you can play in a general partnership: syndicator, passive investor, balance sheet guarantor, or money raiser.
Today I’m getting into the nitty gritty of each of those four paths to financial freedom, exploring what’s important to each member of the team and how to get started. I begin with syndication, discussing the importance of analyzing deals, meeting with investors and building a team. If you want to be in the driver’s seat, then the role of the syndicator may be perfect for you. I go on to cover passive investing, outlining how to ask the right questions and find a partner you can trust. If you see yourself as more of a passenger on this road trip to retirement, then passive investing might be the part you play in a general partnership.
Another lesser-known role is that of the balance sheet guarantor, who cosigns the loan for another syndicator. I explain the circumstances under which a balance sheet guarantor is necessary and the benefits of signing on to a deal in this way. The fourth role is that of the money raiser, and I wrap with the networking skills necessary to take on this role. Listen in and learn the significance of getting educated in the multifamily space, building a working relationship with trustworthy partners, and getting on the road to retirement with apartment building investing!
What’s important to becoming a SYNDICATOR
How to get started as a SYNDICATOR
What’s important to becoming a PASSIVE INVESTOR
How to get started as a PASSIVE INVESTOR
What’s important to becoming a BALANCE SHEET GUARANTOR
Who are ideal MONEY RAISERS
What’s important to becoming a MONEY RAISER
How to get started as a MONEY RAISER
Direct download: MB_090_-_3_Ways_To_Retire_With_Multifamily_-_Michael_Blank.mp3
Category:general -- posted at: 3:10pm EDT