Best Real Estate Investing Advice Ever Joe Fairless

This episode is brought to you by Presario Ventures, a private equity real estate firm based in the booming Austin, Texas, market. To learn how to invest in the future of Texas with Presario Ventures, visit info.presarioventures.com/bestever.
Derek Vickers shares his journey from manual labor jobs to dominating the mobile home park space. Join us as Derek dives deep into his experiences, shedding light on the pitfalls to avoid, the importance of systems, and the transformative power of hiring right in the commercial real estate realm.
Key Takeaways:
The Pitfalls of Rapid Growth: Derek emphasizes the dangers of growing too fast in commercial real estate. Without the right systems in place, it's easy to lose money and find oneself overwhelmed. Preparing and scaling responsibly is paramount to sustainable success. The Power of Systems and Processes: Derek's experience highlights the importance of establishing robust systems early on. From noting step-by-step processes to ensuring checks and balances for managerial roles, these systems can save investors from significant losses. Overcoming Limiting Beliefs in Hiring: Hiring the right team can make or break your real estate business. Derek's initial hesitations about bringing in help, rooted in limiting beliefs, later transformed into an understanding of the invaluable role a supportive team plays. Especially when scaling, the right hires can be game-changers.


Derek Vickers | Real Estate Background CEO of Vicktory Investments and Owner of Park Investing Pros Portfolio:  1,926 mobile home park pads Based in: Orlando, FL Say hi to him at:  Free Checklist: How to Structure Your First MHP Investment The MHP Show Best Ever Book:  Zeckendorf by William Zeckendorf Greatest Lesson: Don’t grow too quickly. Establish systems and processes along the way, so you can handle the growth when you do decide to scale.  
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Presario Ventures
Syndication Attorneys

This episode is brought to you by Presario Ventures, a private equity real estate firm based in the booming Austin, Texas, market. To learn how to invest in the future of Texas with Presario Ventures, visit info.presarioventures.com/bestever.
 
The Best Ever Book Club is a special monthly series hosted by Best Ever founder Joe Fairless. In each insightful episode, Joe dives into influential books that shape the world of investing, exploring key principles, strategies, and lessons to enrich both the seasoned investor and the curious novice.

In this episode, Joe unravels the wisdom found in The Catalyst by Jonah Berger, delving into what it takes to reduce barriers and remove roadblocks to change. He discusses how the book's lessons can be applied to real estate and personal growth, inspiring listeners to reflect on their own financial paths and aspirations.

If you would like to join the book club and participate live, go to www.bebookclub.com to sign up!
 
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Presario Ventures
Syndication Attorneys
 
 

Chris Giorgi, an experienced overseas investor, joins Slocomb Reed to discuss his journey into the world of real estate investing. From the challenges of managing long-distance real estate deals to the intricacies of syndication, Chris shares a wealth of insights for commercial real estate investors looking to expand their portfolios and understanding.
Key Takeaways:
Clarity and Trust: When investing long-distance, it's crucial to establish clear communication and build trust with your local representatives. Chris emphasizes the importance of having a property manager who's also a realtor. Syndication Due Diligence: Don't just jump into syndications. Understand the debt structures, management plans, and exit strategies. Also, actively seek out and learn from experienced voices in the syndication space. Stay Flexible in Your Strategy: While there are several established strategies in real estate investing, Chris advises not to become dogmatic. It's essential to remain adaptable, question everything, and mold your approach based on changing circumstances and market conditions.

Chris Giorgi | Real Estate Background Overseas investor and contractor for the U.S. Army Portfolio:     31 units of single family, duplexes, fourplexes, and apartments 20+ syndications as an LP Based in: Hohenfels, Germany Say hi to him at:  LinkedIn Best Ever Book: The Hands-Off Investor by Brian Burke Greatest Lesson: Don't be so dogmatic about never selling. Always evaluate your properties, especially as it refers to turn on equity, and make decisions that are best for your portfolio.  
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BAM Capital

From the challenges of project budgeting and dealing with the unexpected twists of 2021, to the importance of conservative underwriting and the role of refinance, Sean Tagge offers a goldmine of insights into multifamily investing. Slocomb Reed facilitates a compelling discussion that also explores the mental and leadership aspects crucial for any investor's success.
Key Takeaways:
Budgeting Realities: Recognize that going over budget can sometimes be part of the game. Use data and experience to predict and manage these situations, especially when external factors like rising material and labor costs come into play. Conservative Underwriting & Refinancing: Approach underwriting  conservatively. Sean shares how refinancing can significantly affect your IRR and why it's vital to ensure your deals work out even without relying on refinance. Leadership in Real Estate: Embrace your role as a leader in commercial real estate. Understanding and respecting the influence you have on others, from your team to your clients, can make or break your success in the industry. Seth Tagge | Real Estate Background Founder of Acorn Equity and Acquisitions Portfolio: 650 multifamily units Based in: Salt Lake City, UT Say hi to him at:  Acornea.com LinkedIn YouTube Best Ever Book: The Big Leap by Gay Hendricks Greatest Lesson: Treat others as you would want to be treated when acting as their boss. You have so much influence over others as a leader. Don’t waste it.  
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BAM Capital

Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.
Although you technically don’t need to know how to underwrite a deal in order to be an LP, it can give you a huge advantage in choosing the best deals for your goals. In this episode, Travis explains the basics of underwriting that LPs should know before investing in a deal.
 
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From starting in college with a 12-unit apartment complex to managing multimillion-dollar portfolios in Austin and Michigan, David Toupin shares his vast experiences, challenges, and the software solution he developed for the industry.
Key Takeaways:
The Power of Opportunistic Investment: David emphasizes the importance of being asset agnostic and open to opportunities in various sectors of real estate, from multifamily to industrial, and everything in between. Challenges with National Tenants: Delve into a real-world challenge David faced with a national tenant in one of his commercial properties. The discussion provides insights into lease negotiations, corporate guarantees, and strategies for damage control. Introducing Real Estate Lab: David shares the inception and capabilities of his software platform, Real Estate Lab. Designed as an all-encompassing tool, it aids investors in managing their entire real estate portfolio, from acquisition to exit.

 
David Toupin | Real Estate Background Owner of Real Estate Lab and Toupin Holdings Portfolio: $140M of multifamily and commercial assets Based in: Austin, TX Say hi to him at:  Instagram realestatelab.com Best Ever Book: Never Split the Different by Christopher Voss Greatest Lesson: Staying open to opportunities regardless of asset class. You can make money in anything if you buy right.  
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BAM Capital