Spencer Hilligoss worked a full-time job in technology so he opted to invest passively in real estate. Starting with a duplex in the Bay Area, then turnkey rentals in the Midwest, before focusing on passive apartment syndications. Spencer managed to work his full-time job and invest passively until he was earning enough from his passive investments to become a full-time real estate investor. Spencer and his wife Jennifer are partners in over 5,000 units, valued at over $600 million. Now, he has launched Madison Investing to help others invest in multifamily.    Key Takeaways:  Exposed to real estate at a young age as his parents were in real estate. Worked open houses as a kid, made him run to the technology field Quit his technology leadership career right before Covid19 hit and is a passive and active full-time real estate investor  Worked at LendingTree and learned how much investors make on deals piqued his interest in REI How he found his first rental property in 2016 and pulled a ‘newbie” move that didn’t give him the cashflow he wanted  The importance of underwriting skills   You can build the perfect plan, but success comes down to the operator   Understanding the 3 pillar framework of analyzing a market: Team, market and deal Why deal analysis should include more analysis about the “who” in the deal  Why Spencer invests in multifamily properties vs. turnkey properties The best question to ask a sponsor operator to gain valuable insight into their work ethic and business values Evaluating risk factors in a deal Spencer answers today’s biggest question: Why should I invest in real estate during COVID19? The challenges of investing and running 5000+ units Bullseye Tips   Apparent Failure: The way we conduct ourselves in business when times are bad, is when your true qualities shine through.   Digital/Mobile Resource: Syndicated Deal Analyzer    Most Recommended Book: Rich Dad, Poor Dad by Robert Kiyosaki   Daily Habit: Calendar blocking   Wish I Knew When I Was Starting Out: Understanding goal setting on cash flow    Current Curiosity: Education within the real estate sphere   Best Place to Grab a Bite in Alameda, CA The Tavern   Contact Spencer: Madison Investing LinkedIn 

Target Market Insights: Multifamily + Marketing

Ep. 204: How to Evaluate Multifamily Sponsors with Spencer Hilligoss 

One of the reasons passive investors like multifamily syndications is to leverage the time and experience of seasoned operators. So how does a 21-year old become a multifamily syndicator, while still being a student at UC Davis? If anything, it shows that you can overcome any obstacle if you are willing to educate yourself, work diligently, and proactively address the challenges.    Kyle Marcotte was 21-years old when he completed his first multifamily syndication. He now has two deals under his belt, with 119 units, valued at $5.5MM. We discussed how he overcame his youth and lack of experience, how he built credibility, despite having no experience, how his father’s work ethic inspired him    Partner: Join Us for the Virtual Midwest Real Estate Networking Summit   Key Takeaways:    Hard work does not necessarily mean financial success, which he learned from his father (amazing story!) How Kyle mapped out his life Understanding the 5 layers of wealth:  1. Trading time for money (working hard).  2. Starting your own business.  3. Investing your money 4. Diversifying your investments.   5. Circulating capital  Money is circulated not exchanged  From a neurosurgeon student and athlete to wholesaling, Kyle immediately knew that multifamily was where he would gain more time flexibility and wealth The first strategic steps Kyle took to start in multifamily investing Utilizing meetups to break into real estate investing How Kyle began his multifamily syndication career with no experience at 20 years old Borrowing credibility: Building a strong team and how to delegate  The details of Kyle’s Louisville, KY deal  First deal surprises: Didn’t have a good investor questionnaire of where their money was coming from which is vital Nurturing investors during the deal process Key lesson learned: Always ask about the story of the property The second deal: Atlanta, GA. (good tenant laws)    Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: Was working on a 9-unit deal in Austin, TX pre-Covid19, but didn’t buy it, which he is thankful for, as it would have been a headache had he done so.     Digital/Mobile Resource Slack    Most Recommended Book: Letters From A Stoic (Seneca)    Daily Habit: Meditation   Wish I Knew When I Was Starting Out: People are just people no matter their “status” and shouldn’t be feared or idolized   Curious About: What’s going to happen to the economy and AI   Best Place to Grab a Bite in Austin, TX Rudy’s    Contact Kyle: Kyle Marcotte Instagram: @kylemarcotte9 Own Your Time Podcast  

Ep. 203: Multifamily Lessons from a 21-Year Old Syndicator with Kyle Marcotte

Finding investors and attracting capital for your first multifamily deal can be a daunting challenge for many investors. Leslie Awasom and Tenny Tolofari managed to tap into their network and primed them to invest in a large apartment deal in Atlanta. The two are the managing partners of XSITE Capital Investment, deciding to team up after bonding through the cashflow board game and discussing their business and investing philosophies.    In this episode, they share how they formed a strong partnership, challenges they faced in doing their first deals, and how they are growing their investor network through events and Facebook groups.     Partner: Join Us for the Virtual Midwest Real Estate Networking Summit   Key Takeaways:  How XSITE was formed by building a strong partnership that started with Tenny and Leslie playing the Cashflow board game to get to know one another and talk business How to find the perfect partner for your business Their first multifamily deal of 192 units  Creating opportunity by building relationships and connecting with the right people  Doing your due diligence when checking out a prospective multifamily property Surprising aspects of a multifamily investment deal as a limited partner The differences between being a general partner vs. limited partner How to find investors and raise capital as a new multifamily investor We’ve all heard “find the deal and the money will come” however, pay attention to the nuances of each deal before relying on that advice How to start a meetup and the benefits of running these local real estate networking events Why multifamily investing is a better investment than single-family wholesaling or fix and flips How to use a Facebook Group for networking, ideas, and collaboration   Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: Inability to come up with the capital needed to be a general partner. Digital/Mobile Resource Audible Yardi Matrix    Most Recommended Book: The Compound Effect (Darren Hardy) The Entrepreneur Roller Coaster (Darren Hardy)   Daily Habit: Meditation    Wish I Knew When I Was Starting Out: Letting people know what you are doing and branding your company from the start    Best Place to Grab a Bite in Waugh Chapel, Maryland Thai Cuisine of Waugh Chapel    Contact Leslie and Tenny: XSITE Capital XSite Multifamily Apartment Investors Meetup  Facebook Group (The Exciting World of Multifamily Investing)

Ep. 202: Finding Investors for Your First Multifamily Deal with Leslie Awasom and Tenny Tolofari

With the release of our 200th episode, it caused me to reflect on where the show has been, where we’re at now and where we want to go. With the civil unrest following the murder of George Floyd, I wanted to be a voice of reason and perspective, but struggled to find the words. As a black man, father, podcaster, marketer, investor, and consultant, I felt that I “should” say something, but wanted to ensure it was an informed opinion that also supported my beliefs and that of the brands I represent. One one side you have “cancel culture” ready to vilify anyone who doesn’t agree with their perspective, and on the other side there is a growing sentiment that silence is complicity, when many may just need to stay silent so they can listen and learn.    After more conversations and reflection, I decided to just hit the record button and this episode is the result. This show has always focused on the marketing challenges investors face from market research to building a brand, so this episode focuses on understanding your brand’s core beliefs and attracting your tribe.    Coincidentally, today marks the 155th celebration of Juneteenth, a holiday where we celebrate the end of slavery across the United States. With the 4th of July around the corner, it’s worth noting the words from the pledge of allegiance and work to make them a reality.      One nation, indivisible, with liberty and justice for all.   Partner: Join Us for the Virtual Midwest Real Estate Networking Summit   Key Takeaways:   200 episodes of Target Market Insights: How it started and where it’s going Understanding the emotions of the social injustice that has sparked outrage across the united states What is missing in today’s world: Empathy  Malcolm Gladwell: Talking with Strangers The most important thing anyone can do is to LISTEN to others point of view with empathy The irony of the Colin Kaepernick situation How brands are navigating today’s world: Aunt Jemima, Uncle Ben’s How to incorporate what you believe in and/or stand for in your marketing campaigns Brands want to be involved in the different conversations that are taking place. 63% of consumers prefer brands that stand for purpose (especially millennials 18-34)  Cause marketing and how it works (Just look at Nike)  How conservative AND progressive brands can clarify their values, without alienating the masses Finding people who support you and are part of your tribe, creating a culture and community Opening up the Target Market Insights guest list to learn more about diversified entrepreneurs who have overcome unique challenges Creating opportunities to help other people  Tips on managing multifamily assets in today’s market  

Ep. 201: How To Stand For Your Beliefs and Attract Your Tribe

The world looks different than it did a few months ago. With COVID-19 forcing many into quarantine and unemployment spiking as a result, there are many concerns on the immediate and ongoing impact for multifamily investors. In addition, the recent civil injustice and resulting protests have added more uncertainty and unrest.   We sat down with Dan Handford, Tony Hardy and Matt Faircloth to discuss the outlook and opportunities for multifamily investors post-COVID-19. All have been guests on Target Market Insights and shared their perspectives on how multifamily investors should view opportunities going forward.   In this special episode, you will hear how they are adjusting their strategies and underwriting, why they don’t expect steep discounts, the current pricing gap between buyers and sellers, changes in lending requirements, and whether now is the time to sit on the sidelines or get in the game.      Dan Hanford is the managing partner for PassiveInvesting.com with $250MM in multifamily assets in North Carolina and South Carolina. He also runs the Multifamily Investor Nation with 26,000 members.   Matt Faircloth leads The DeRosa Group, which renovates residential and commercial properties. He is the author of Raising Private Capital, published by BiggerPockets.   Tony Hardy is a Commercial Real Estate Broker with Marcus Millichamp specializing in multifamily in Chicago and surrounding areas in the Midwest. He is also an advocate for property owners through the Neighborhood Building Owners Alliance and Southside Investors Community Association.    Partner: Join Us for the Virtual Midwest Real Estate Networking Summit   Key Takeaways: Repercussions of COVID-19 on real estate investing: How it has impacted their portfolios  Closing deals during COVID19 How working with agencies (Freddie Mac) has changed The changes that are being seen in urban and suburban markets Working with lenders and pairing sellers with buyers The role value add plays in today’s market How tired owners are a golden opportunity Reducing expense profiles Why multifamily investing has not been hit that hard by COVID19 Why investors should or should not get into the real estate investing game now The impact of massive job losses on real estate investing Will cap rates change? How to price properties to stay competitive  The state of rent checks in the next couple of months How today’s market is affecting 20 - 50 unit sized buildings 

Ep. 200: Multifamily Investing Outlook Post-COVID-19 (Special Panel)

With over 2.6 billion active users, Facebook is an excellent platform to connect with others, especially if you are a business owner seeking customers. However, most Facebook posts won’t reach your audience without a boost, so understanding how to create effective Facebook ads is essential. Alvin Tucker launched Erupt Sales to help business owners, particularly real estate investors to leverage Facebook ads to generate and qualify leads.    Alvin helps investors and agents use digital marketing to find local owners and investors, as well as targeting out of market leads. Alvin shares why it’s important to educate yourself on Facebook ads before running your first campaign, how to set up a campaign, how to create effective Facebook ads, and best practices to convert qualified leads.   Partner: Join Us for the Live + Virtual Midwest Real Estate Networking Summit   Key Takeaways: Digital marketing vs. traditional marketing  Generating qualified leads through digital marketing Why multifamily investors should consider ads Tips on using Facebook Ads Setting up a successful digital marketing campaign Why branding is the most important aspect of marketing  Mistakes people make when creating Facebook Ads Qualify people to ensure they are a fit for your service Creating Facebook Ads to capture qualified leads Inbound marketing tricks with lead forms Best practices for capturing testimonials for your service   Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: Not taking care of his mental health helped him become more self-aware   Digital/Mobile Resource AIVA (Real Estate Lead Conversation Partner)   Most Recommended Book: Breakthrough Advertising (Eugene M. Schwartz)     Daily Habit: Taking a walk  Wish I Knew When I Was Starting Out: The value of a mentor   Wish I knew 12 Months Ago: That we were going to have a pandemic   Current Curiosity: Healthy living    Best Place to Grab a Bite in Erie, PA Sara’s    Contact Alvin: Erupt Sales Facebook

Ep. 199: Facebook Ads for Lead Generation with Alvin Tucker

Mike has been investing for over 20 years throughout Arkansas and Missouri while balancing a family and a full-time career in the medical device industry. Built a $6MM portfolio of single-family, small multifamily, and commercial properties. Mike now focuses on multifamily syndication with over 1,000 units across Kansas, Oklahoma, and Dallas-Fort Worth, valued at over $60MM.    Mike was working full-time and after avoiding layoffs multiple times, he realized there was an opportunity to educate and work with other busy professionals to help them on their quest for financial freedom. In this episode, Mike shares how he got started in multifamily syndication, why he focuses on educating investors, and insights on the Kansas, Oklahoma, and DFW markets.   Partner: Join Us for the Live + Virtual Midwest Real Estate Networking Summit   Key Takeaways:   How Mike got started in real estate investing while holding down a fulltime job and raising a family Why Mike transitioned into multifamily syndication, working with passive investors What it took for Mike to finally quit his day job and solely rely on his real estate investing career Never considered partners, but after a few years, he knew the only way to scale would be through multifamily syndication.  Clearing up the misunderstandings about multifamily syndication How Mike started the multifamily syndication investing conversation and started raising capital.   I don’t view multifamily syndication as asking people for money,  I view it as providing them with a profitable opportunity.   Focusing on the education piece of multifamily syndication empowers you to put potential investors at ease about investing with you The biggest questions asked about multifamily syndication answered The conversations he is having with his investors in regards to the ramifications of COVID19 on the real estate industry Oklahoma, Dallas Fort Worth, and Kansas City markets insights Median household income and the rationale behind pinpointing a 3/1 rent ratio tenants How Mike is shifting his strategy due to COVID19, and focusing on opportunities that are on the backside of the crisis The pros and cons of retail investor vs. institutional capital deals The future of the Oklahoma, Dallas Fort Worth and Kansas City markets   Partner: Download our Sample Deal Package Bullseye Tips:   Apparent Failure: Early on in his career, he was doing flips, but quickly found it wasn’t like the TV Shows.  He learned to not take failure personally and to be persistent.    Digital/Mobile Resource AppFolio (Investor Portal) Active Campaign   Most Recommended Book: Best Ever Apartment Syndication Book (Joe Fairless)   Daily Habit: Reflection and prayer in the morning.   Wish I Knew When I Was Starting Out: That raising capital is not asking for money, it’s providing opportunity.   Current Curiosity: What’s going to happen in the next 6 months in the real estate market.   Best Place to Grab a Bite in Springfield, MO  Haruno (Sushi)   Contact Mike: Trident Multifamily Trident Multifamily School (Coming Soon!) info@tridentmultifamily.com 

Ep. 198: How to Start in Multifamily Syndication with Mike Vann

Marketing directly to property owners is a proven strategy to get great deals on real estate. In addition, working directly with an owner enables creative financing solutions. Brad Smotherman focuses on direct to owner marketing strategies to find deals and create attractive terms.    Brad has used direct mail, cold calling, text messages, and paid online ads to find deals. Over time, he has evolved his approach and now has a stream of qualified leads reaching out to him to buy their properties. Brad is an investor and mentor with a seven-figure flipping business, operating in 15 states. In addition, he hosts a Top 100 business podcast, Investor Creator. In this episode, Brad shares how he did his first deal, structures owner-financing, how he analyzes and evolves his marketing strategy, and how he buys properties without making an offer.   Partner: Join Us for the Live + Virtual Midwest Real Estate Networking Summit   Key Takeaways:   How Brad burned his real estate license and started in real estate investing Buy creatively and sell with owner financing Brad’s best deal ever and why Understanding Subject-To: Could be a mortgage, a judgement or a tax lien  Creative financing using mortgage notes What works and doesn’t work in real estate marketing Indicators to know when someone is interested in selling their home. There are 5 main motivating factors: Pre-foreclosure, inheritance, tired landlords, divorce and health and safety issues How to structure a sales funnel for higher conversion rates (Hint: Keywords are key!) Understanding website conversion rates for better lead generation 3 ways you can increase your close rate: Mindset, marketing and having a strategic plan How to make a deal without making an offer The Investor Creator Podcast   Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: Not focusing on my mindset in the beginning   Digital/Mobile Resource Glenn Harrold Meditations & Hypnosis   Most Recommended Book: 12 Rules for Life (Jordan B. Peterson)   Daily Habit: Waking up at 3:45 a.m. to get to the gym at 4 am   Wish I Knew When I Was Starting Out: That I had it in me to be successful   Current Curiosity: What’s next   Best Place to Grab a Bite in Nashville, TN Jeff Ruby’s   Contact Brett: Brad Smotherman Website  Investor Creator Podcast  

Ep. 197: How to Attract Qualified Off-Market Deals with Brad Smotherman

Real estate investing is about increasing your capital and if you do it effectively you will grow your wealth. The one downside is the capital gains tax that investors face on the profits of their investments. Luckily, there are strategies that can help investors defer their capital gains tax obligations. 1031 exchanges are popular strategies for real estate investors, but there is a lesser-known strategy called a deferred sales trust.    Brett Swarts has been helping people learn and implement capital gains tax strategies through his company. Capital Gains Tax Solutions. Brett works primarily with high-net worth investors to develop deferred sales trust tools to solve capital gains tax deferral limitations. In this episode, Brett defines a deferred sales trust, explains the difference between a 1031 exchange, and when this strategy works for real estate investing.   Partner: Join Us for the Live + Virtual Midwest Real Estate Networking Summit   Key Takeaways: Brett helps people create and preserve more wealth through 1031 exchanges, forced appreciation, and multifamily ownership How Brett got through the 2008 crash (note: a side hustle was involved)  Understanding Deferred Sales Trust strategy: Manufactured installment sale or a seller carryback or a IRC453 What is a 1031 exchange and how to use it effectively  How deferred sales trust is different from a 1031 exchange How to keep money out of your hands and invested to avoid taxes A real-world $10MM example of a deferred sales trust deal from a real estate investing standpoint   Don’t let the tax tail wag the investment dog    How to handle a deferred sales trust deal when there is existing debt on the property How a deferred sales trust provides a backup plan for a failed 1031 exchange The restrictions of a 1031 exchange  The downside of a deferred sales trust  Options for deferred sales trust when acquiring more assets Diversify your real estate holdings to reduce your risk  17-20 trillion dollars will pass from one generation to the next in the next 20 years; the largest wealth transfer in history When to use the deferred sales trust strategy  Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: He turned down an opportunity to list a $2.5MM apartment complex when employed with Marcus & Millichap because the owner wanted him to partner with a residential realtor. Because of his pride, he lost that deal and two others because he was viewed as not interested.    Digital/Mobile Resource Asana  Loom   Most Recommended Book: The Seasons of Life  (Jim Rohn)   Daily Habit: Miracle Morning    Wish I Knew When I Was Starting Out: I wish I hired a person to help him reach his vision faster   Current Curiosity: What’s going to happen in the world in the next 90 days.    Best Place to Grab a Bite in Sacramento, CA Bangkok Thai    Contact Brett: Capital Gains Tax Solutions   Capital Gains Tax Solutions on YouTube   Free Guide: Deferred Sales Trust

Ep. 196: Capital Gains Tax Solutions to Preserve Wealth with Brett Swarts

With many professionals facing uncertainty with employment and more time on their hands, now is a perfect opportunity to create a side business that can generate ancillary income. Or maybe you just have a passion for a topic and would love to share it with others. Many are doing just that and converting their knowledge into online courses. Platforms like Kajabi and Udemy make it easy for anyone to offer courses ranging from basket weaving to Amazon AWS Certification.    Jason Van Orden helps thought leaders reach a larger audience with their ideas, create new income streams from their expertise, and build business models that align with their business values and goals. He has created 60 online courses and helped over 10K entrepreneurs generate 7 figures in online course sales. In this episode, we talk to Jason about who should create online courses, how to monetize your passion and talents, how to determine the price and best practices for a successful launch of your online course.   Partner: Get Multifamily and Marketing Consultation through the Capital Impact Club   Key Insights How Jason started his online course business Jason is the OG pioneer of the podcasting, as he started the Internet Business Mastery Podcast in 2005; the first of its kind  How to monetize your skill set or expertise The 4-step formula for creating online courses  Who should get into the online courses business Understanding the online course industry How to take your current skill set and pivot into the online courses business Online courses should always solve a problem (do your research) The importance of testing a prototype of your online course for feedback How to grow your established business as a mentor, consultant or coach Tips on what you should be charging for your content and why   Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: Launched a course that got one download, but later courses were successful due to what he learned from the unsuccessful one.   Digital/Mobile Resource Asana (project management)   Most Recommended Book: Strengths Based Leadership (Tom Rath & Barry Conchie) StrengthsFinder 2.0 (Tom Rath)   Daily Habit: Getting 8 hours of sleep for clarity. Not working on weekends; giving the brain and body a break.    Wish I Knew When I Was Starting Out: Spending money on things I didn’t need to start my business.   Current Curiosity: Good communication and relationship dynamics   Best Place to Grab a Bite in NYC: Khyber Pass   Contact Jason: Jasonvanorden.com Impact Podcast One Hour Free Training: Video Case Study - How She Replaced Lost Income in Just 3 Weeks During the Coronavirus Crisis

Ep. 195: How to Create and Monetize Online Courses with Jason Van Orden

Commercial real estate transactions can be complex with lots of paperwork and legal documents. Protecting yourself on these major transactions is vital and having a strong agreement and legal team is key. Jeff Love is a partner with Gibbs Giden Attorneys at Law. He helps investors buy all types of real estate and work through all types of deal and partnership structures.  In this episode, Jeff shares key lessons on structuring strong and profitable deals, how to find red flags and how to protect yourself when entering into a purchase agreement. Learn why you should never sign your own name on a deal and how to select the right partnership structure.   Partner: Get Multifamily and Marketing Consultation through the Capital Impact Club   Key Insights Dirt Lawyer: Attorney for all facets of Real estate  Investing in multifamily in the Los Angeles real estate market The strategy for creating a legacy for your family Managing multifamily investing, a full-time job and a family The real estate attorney services in demand right now  Real world examples of how Jeff works with real estate investors Key lessons in structuring strong and profitable deals How to find red flags in deals so you can avoid them Protecting yourself when entering into a purchase agreement  Do you raise money or find the deal first?  Expert real estate attorney advice on often made mistakes: Purchase & Sale Agreement and Notice Provisions  Estoppel Letter (certificates)    Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: He couldn’t find a job coming out of law school, so he went to work for a real estate development company, which set him up for his success today.   Digital/Mobile Resource Zoom   Most Recommended Book: Llama Llama (His children's favorite book)   Daily Habit: Outline what he needs to do and tasks that need to be done for the day.   Wish I Knew When I Was Starting Out: To know what I don’t know; Ask or find out the right information   Wish I knew 12 Months Ago: Where the real estate market is headed    Current Curiosity: What the market will look like post COVID19   Best Place to Grab a Bite in Los Angeles, CA: Wood Ranch Barbecue & Grill    Contact Jeff: jlove@gibbsgiden.com  Gibbs Giden Attorneys at Law

Ep. 194: How to Protect Yourself When Buying Real Estate with Jeff Love

With no experience and no money, Steven Pesavento launched into real estate investing using credit. It sounds like a strategy from a late-night infomercial, but Steven was determined to build a successful business. He focused on building a marketing system to find real estate investment opportunities and solve the problems that owners faced.   Steven is a strong believer that mindset is key to being successful in business and investing. He is the host of the Investor Mindset Podcast and a private membership community. In this episode, he shares how he got started, how he optimizes lead generation, how he developed systems to scale his business, and how to overcome limiting beliefs.    Partner: Get Multifamily and Marketing Consultation through the Capital Impact Club   Key Insights   How Steven got his first 75 deals with no experience, none of his own money, and leveraging credit The steps Steven took to change his mindset and go all-in on real estate investing. Direct Response Marketing: Using the right wording to signal to a prospective customer to take action Wholesaling real estate investor vs. real estate marketer Lead Generation: How Steven finds deals and converts sellers  The many benefits of coming from a position of serving others instead of just closing a deal The different systems and processes Steven uses to scale his business Managing a team of 15 employees, from lead manager to transaction coordinator How your mindset dictates the actions that you take Ways to process your limiting beliefs, reassess and create a positive mindset How Steven grew The Investor Mindset Podcast into the success it is today   Partner: Download our Sample Deal Package Bullseye Tips:   Apparent Failure: Flipped a house that looked like a home run, paid $450k, and expected to sell for $700K. Failed to get it sold, made the wrong renovations, and didn’t manage it well. Netted a loss of $40K. Learned what didn’t work and took those lessons and adjusted his strategy.   Digital/Mobile Resource: Slack Zoom Most Recommended Book: The Go-Giver by Bob Burg Never Split the Difference by Chris Voss   Daily Habit: Daily morning: meditation, movement, mindset adjustment, mapping his day.    Wish I Knew When I Was Starting Out: Not to take things so seriously    Current Curiosity: What the business world and society will be like post-COVID-19    Best Place to Grab a Bite in Denver, CO: El Camino   Contact Steven: The Investor Mindset Podcast The 5 Principles of Investing Success (Free Download)  

Ep. 193: Create a Powerful Mindset for Investing with Steven Pesavento

Creating affordable housing is a challenge for many developers. Part of the issue is the cost to develop affordable housing leaves little to no profits for developers. Because of this, many developers rely on government subsidies to bridge the profitability gap. However, Scott Choppin and his firm, Urban Pacific have found opportunities with urban infill to deliver affordable housing without using government subsidies.     Scott is a second-generation investor that focuses on vacant or underutilized areas in a city. His team is committed to developing urban townhomes in these areas. They have developed 1,700 units and continue to evaluate new opportunities. In this episode, Scott shares more about affordable housing, workforce housing, government subsidies, and his UTH model.     Partner: Get Multifamily and Marketing Consultation through the Capital Impact Club   Key Insights   Urban Infill Housing: Find sites that are vacant or underutilized in cities and develop apartments What is Workforce Housing: Pairs private capital with moderate income multi-generational rental housing How to find Urban Infill opportunities: One very surprising resource!  The real estate market for the rest of 2020 and how it is going to shift The impact on rental markets in 2020 and how it affects investors now and in the near future The difference between workforce housing and affordable housing How to work with cities to develop affordable or workforce housing The benefit to investors in developing workforce and affordable housing Government subsidies Understanding The UTH Model: The intersection of lowest density, lowest cost build, with maximum capability to generate rental income Why Scott’s UTH model works without subsidies Working within urban real estate markets (Focus: Los Angeles real estate market) How UTH Homes compare profit-wise to value add multifamily projects or new construction developments Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: 2008 taught him to bring all construction activities in-house.    Digital/Mobile Resource: Urban Pacific Investor Education BiggerPockets   Most Recommended Book: The 10X Rule: The Only Difference Between Success and Failure (Grant Cardone)   Best Place to Grab a Bite in Long Beach, CA Joe Jost’s   Get in Touch with Scott: Urban Pacific Urban Pacific Investor Education 

Ep. 192: Developing Profitable Affordable Housing with Scott Choppin

With no investing experience, no credit, and limited funds, Reed Goossens left his home in Australia and moved to the US in 2012. He started with a duplex in upstate NY, before moving into larger apartments. To make the leap, he surrounded himself with mentors, peers, and partners, to refine and shape his approach.  Reed is the Managing Partner of Wildhorn Capital, controlling over $175 million in apartments. Reed is also the author of two best-selling books and host of the Investing in the US podcast.   In this episode, Reed shares how he got his start and the challenges he overcame as an Australian investing in US real estate. He shares how mastermind groups have been vital to his growth as an investor and provides tips for anyone looking to create their own group. Reed also shares how to get started in apartment syndication and how he and his partner built a successful business with 1,700 doors under management.   Partner: Get Multifamily and Marketing Consultation through the Capital Impact Club   Key Insights   Reed’s north star to financial freedom Investing in the US: The Ultimate Guide to Investing Real Estate: Recreating content from a podcast The steps to take to invest in United States real estate as a non-US citizen Understanding foreign exchange risk How his latest book 10,000 Miles to the American Dream was born from a mastermind with his Australian and US investor colleagues Benefits of being in a mastermind How to structure a mastermind to drive your success What not to do when starting a mastermind 1st step in getting started in syndication investing: Build your credibility  Building systems to create your own syndication deals  Getting boots on the ground: Working with brokers Finding a partner with a complementary skill set and a different perspective to scale your business How to build and reach sustained growth Reed’s vision for his company, Wildhorn Capital, and how he’s going to make it happen Learning from the current environment to create the best business practices in the future Partner: Download our Sample Deal Package   Bullseye Tips:   Apparent Failure: First deal was an education in section 8 housing    Digital/Mobile Resource: Zoom Slack   Most Recommended Book: Key Person of Influence (Daniel Priestley) 24 Assets (Daniel Priestley)    Daily Habit: Turning his phone off at 8:30 pm until 8:00 am the next day   Wish I Knew When I Was Starting Out: Back yourself; everything will work out   Wish I Knew 12 Months Ago How uncertain life and the economy can be   Current Curiosity: How to take his life to the next level   Best Place to Grab a Bite in Venice, California Rose Cafe   Contact Reed: Reed Goossens Investing in the US Podcast info@reedgoossens.com 

Ep. 191: How to Create a Mastermind for Multifamily with Reed Goossens

How do you get started in multifamily apartments? While Tyler Chesser was doing international marketing, he decided to transition into multifamily as a broker. Tyler received his CCIM certification, demonstrating his expertise in multifamily. After doing numerous deals, he decided he was on the wrong end of the table during transactions and decided to become an investor.  His first deal as an investor was a passive investment, before being active in his home state of Kentucky. Tyler is the Co-Founder of CF Capital and hosts the Elevate podcast. In this episode, Tyler shares how he transitioned from marketing into multifamily as a broker, and then as an investor. Tyler also shares key stats on Louisville, Kentucky, how new investors can get taken seriously by brokers, and lessons from his Elevate podcast.    Partner: Get Multifamily and Marketing Consultation through the Capital Impact Club   Key Insight   Transitioning from international marketing, to real estate investing as a broker Detailed tips on how to quit your corporate job and move into real estate investing full time Tyler’s approach to investing and why: Passive investor in Georgia, Active investor in Kentucky Pivoting into multifamily syndication investing A deep dive into the Louisville, Kentucky market for multifamily investing How being a broker has helped Tyler become a better investor What investors can do to be taken more seriously by brokers: Credibility is everything! Tyler’s investing strategy for multifamily  The differences between being a broker and an investor Building up an active portfolio while passive investing in other deals What Tyler has learned in passive investing Elevate: The value you gain from starting and producing a podcast Don’t live a life that you tolerate.   Living in equanimity: What is it and why it’s important for a balanced life Ask yourself this question in any situation for clarity: What lesson am I supposed to learn from this?  Partner: Download our Sample Deal Package   Bullseye Tips: Apparent Failure: First deal was a total failure but learned many lessons from it.   Digital/Mobile Resource: Zoom    Most Recommended Book: Think and Grow Rich (reads it every year)   Daily Habit: Reading (1 hour every morning)   Wish I Knew When I Was Starting Out: No one cares about my ego   Current Curiosity: The economy and where it’s headed.   Best Place to Grab a Bite in Louisville, KY Porcini or Jack Fry’s    Connect with Tyler Eleveatepod.com  YouTube

Ep. 190: Elevate Into Multifamily Apartments with Tyler Chesser

Multifamily and marketing insights to help real estate professionals and apartment investors with the market research and marketing tips they need to grow their portfolio. Each week, John Casmon speaks with multifamily apartment investors and marketing specialists to talk about emerging markets, market research, marketing, branding and useful tips for investing. Listen and learn how to identify the best markets and submarkets and leverage marketing for your real estate investing.

hubhopper

Target Market Insights: Multifamily + Marketing

hubhopper