Brehs, I am studying and networking to become elite at Multi Family unit investments

[Swirv]

Day 7- went to a multi family conference. Been pretty good so far. The players are interesting than anything else. Also, I meet some guys that has mastery in write offs. That's something that's intriguing to me.

Spoiler: Real spit

Dude writes off LV items. So you mean I can write off this Moncler jacket....

There is a lot I am learning and it's really about monetizing real estate and understanding what land means and what not. That's outside of multi family but the rich know how to make wealth work for them. My goals is 1k doors in two years and 100+ by the end of the year.

That's a huge operation even at 100 doors. Are you going to have a property management team?

 

[#1 pick]

That's a huge operation even at 100 doors. Are you going to have a property management team?

Yes, I already have a network and where I am operating out of, I already have a strong asset manager within my team. I just have to make sure I have a strong property manager in each apartments.

 

[#1 pick]

Day 16 - I am seriously looking at 8 properties. I got off market connects in Texas, California, and Pennsylvania. Already building a solid squad. I love this industry. I am also doing daily training.

 

[Astroslik]

Day 16 - I am seriously looking at 8 properties. I got off market connects in Texas, California, and Pennsylvania. Already building a solid squad. I love this industry. I am also doing daily training.

Where are you doing trainings?

 

[#1 pick]

Where are you doing trainings?

There are a number of mentors but they offered paid mentorship. It's hard to find anyone willing to do it for free.

 

[Cynic]

Been at it for a week.

This is technically day 1 of my own training and not others training material or reading Reddit and Bigger Pockets.

Looking at

1. The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges
2. Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits by David Lindahl
3. Investing in Duplexes, Triplexes, and Quads: The Fastest and Safest Way to Real Estate Wealth by Larry Loftis
4. The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss by Ken McElroy
5. The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing by Brandon Turner
6. Buy It, Rent It, Profit! (Updated Edition): Make Money as a Landlord in Any Real Estate Market by Bryan M. Chavis
7. The Millionaire Real Estate Investor by Gary Keller
8. Commercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request Package by Michael Reinhard
9. The Real Estate Investor's Handbook: The Complete Guide for the Individual Investor by Steven D. Fisher

I also listen to a pod on bigger pockets by David Meyer

My day-to-day focus is to be much more knowledgeable and better about the players involved than I was yesterday.

@skyrunner1, when did you close on your first deal?


What I've done today for personal tracking:

So far, I've dedicated 10 hours today. When for a 2-mile walk. 30 mins at the gym. Got the fam some ice cream and now I am back at it again.

Rob Khleif for multi-family
J Scott Scheel for commercial
Ed Bolden for a young ATL based brother doing it.

 

[#1 pick]

I am working on multiple deals right now. I have a full team now so I feel confident moving forward.

 

[#1 pick]

Rob Khleif for multi-family
J Scott Scheel for commercial
Ed Bolden for a young ATL based brother doing it.

Thanks bro! Much appreciated

 

[Astroslik]

I am working on multiple deals right now. I have a full team now so I feel confident moving forward.

What type of roles does your team consist of?

 

[#1 pick]

What type of roles does your team consist of?

RE lawyer
Brokers
Sponsor
Capital raisers
Mentors

I have mostly everything but underwriters

 

[GollyImGully]

RE lawyer
Brokers
Sponsor
Capital raisers
Mentors

I have mostly everything but underwriters

Great thread this is giving me some inspiration on how to move forward! Im plotting out on how I can do the same. How did you go about building out your team? What would you say is a good pathway to get that going? I feel like this is something that cannot be skipped out on. I might be in the wrong circles because when I tell people my plans they look at me like Im crazy

 

[#1 pick]

Great thread this is giving me some inspiration on how to move forward! Im plotting out on how I can do the same. How did you go about building out your team? What would you say is a good pathway to get that going? I feel like this is something that cannot be skipped out on. I might be in the wrong circles because when I tell people my plans they look at me like Im crazy

I join a network and just asked other brehs and brehettes do you want to be on my team.

There are sponsors who do coaching who also have networks which you can pull from. These networks can can 22k to 44k to join but its mainly 100k and low level millionaires within trying to get to the next level regardless of race.

I would say hit me up via pm and I'll give you a name of a coach who can really help. He's also 11k so it's not anywhere near as high as my network.

If anyone look at you like you crazy, they just don't have the awareness.

 

[#1 pick]

Day 35

My first deals were declined by one of my sponsors. Learned a lot from it. Mainly what I need to bring to my sponsor for a deal to happen. I now know.

I was at a conference this week. Meet a lot of talented people. Just more informed. Improved my underwriting skills. Just gonna continue to work.

 

[Swirv]

Day 35

My first deals were declined by one of my sponsors. Learned a lot from it. Mainly what I need to bring to my sponsor for a deal to happen. I now know.

I was at a conference this week. Meet a lot of talented people. Just more informed. Improved my underwriting skills. Just gonna continue to work.

Are you dealing with a private money lender or an individual investor?

 

[#1 pick]

Are you dealing with a private money lender or an individual investor?

Depends on what part of the deal you are talking about