Are you new to real estate investing or have existing investments but want to learn the best ways to scale and maximize your passive income? Join Mason as he speaks with a variety of experienced real estate professionals ranging from multifamily syndicators to passive investors and more. You can also access free resources and learn more by going to https://masonklement.com/
#34 Mobile Home Park and Parking Lot Investing with Brian Spear
Brian Spear is a Founder of Sunrise Capital Investors. His company specializes in acquiring deals in off-market, direct-to-owner transactions in the unique niche of mobile home parks.
Over the past decade, Brian has raised tens of millions of dollars and has helped hundreds of accredited investors diversify into mobile home parks. As co-host of the Mobile Home Park Investing podcast, Brian also educates investors on how to locate, negotiate, and acquire properties that generate cash flow and build legacy wealth for their families.
He has been featured in numerous media outlets and is an official member of the Forbes real estate council.
Brian attended the University of Kentucky on a baseball scholarship and was voted captain of a team that ultimately had six MLB alums. He was also named CoSlDA ESPN the Magazine Academic All-District.
- Many institutional investors are forced to sell properties because of maturing debt or because they’re in the process of winding down a fund. Mom and pop operators on the other hand, usually have no motivation to sell within a clear timeline since the main motivator is to retire someday.
- Leveraging brokers that have been plugged into a community for many years and that is not an industry specialist can be a very valuable asset to leverage in finding deals. Brokers also save you a lot of the leg work required to find deals yourself.
- Although Sunrise Capital relies on brokers to bring in many deals, about 85% of their total deals are sourced using direct-to-owner marketing.
- The natural progression of a real estate investor to reach capital fundraising status is to start with your own capital, raise money from friends and family, grow your investor network through word of mouth referrals, and eventually raise capital through SEC regulated syndications such as Reg D 506(c) offerings. It took Sunrise Capital at least 4 years to reach this point.
- Sunrise Capital differs from other real estate investment firms in that they usually return capital to their investors through refinancings instead of asset sales, which mitigates investors’ reinvestment risk and maximizes the longevity of each investment.
Best Way to Contact Brian:
#33 How to generate $250,000 per month with Corey Geary
Corey is a Husband, Father, and God believer 7-figure Wholesaler and fix and flipper. He’s also an e-commerce and oil and gas investor and helps real estate entrepreneurs live the life they desire. Currently, his wholesaling business generates more than $250,000 in revenue.
- Creating a great team culture, work environment, and understanding your employees' long-term goals are essential to mitigating flight risk.
- Always look at your team members as partners, not employees.
- PPC is something you should gradually ease into starting at $1,500 per month
- Don’t completely stop your initial local marketing because that pays the bills. The key is to gradually shift the allocation of marketing dollars from the initial marketing channels and geography to a national PPC-focused one.
- Novations are key to being able to sell in any market, but especially smaller, less active markets.
Best Way to Contact Corey:
#32 Building a 100 Door Portfolio with Mark Owens
Today we have Mark Owens who was able to quit his day job in the early 2000s leveraging his rental portfolio which eventually grew to over 100 units including some mod-sized apartment buildings. He has also wholesaled about 200 deals.
Mark Owens began his investment career in 2002 in Baltimore, Maryland. At that time he was a Microsoft Certified Trainer teaching upper level computer classes in colleges all over Maryland. Within a few short years he was able to leave the job and focus on growing his rental portfolio. Since then he has acquired over 100 rental units including some mid-size apartment buildings, wholesaled close to 200 deals and done a few retail flips. Mark has figured out a way to run his business around his life- not the other way around. He spends much of his free time coaching, speaking, hiking, scuba diving, and flying planes.
- Buy rentals and build your passive income. As soon as the market slows down the first people to suffer are wholesalers because deal flow will stop.
- Whenever the economy enters a recession Mark has been able to raise rents and benefit as people in Class A neighborhoods move to Class B and B moves to C and C wants to stay in C, creating more demand for Class C properties.
- Don’t live beyond your means. If your real estate business hits a rough patch and income dries up for a little while, you need to have capital to weather that period. The first people that go out of business are the ones that did not defer gratification, and spend all excess cash on doo-dads like jet skis and expensive cars.
- Always set up your business so that you can work from the beach using a cell phone and laptop. Do this by putting together a boots-on-the-ground team of contractors to manage your properties.
- The most important key to succeeding in any real estate business is to build a strong network and solid reputation. Without one or the other, you won’t get very far.
Best Way to Contact Mark:
#31 How to Build a Multi-million Dollar Real Estate Business with Nick Perry
Nick is the Owner/Founder/Executive Chairman of Want To Sell Now, the largest nationwide wholesaling company in the United States based out of Austin TX. He also owns a fleet of semi-trucks, multiple eCommerce businesses and invests in multiple companies and commercial real estate.
Last, he’s the founder and owner of the 7 Figure Cartel mastermind that gets people quickly through the hurdles to become multiple 7 figure real estate investors.
- Always keep your acquisitions team and dispositions teams separate. Don’t have one person doing both.
- There are certain synergies realized when working in-person in a local office.
- Always screen prospective employees using Tony Robbins DISC test, the Hexaco test, some practical, real world trials, and multiple rounds of interviews.
- Whenever hiring high caliber people, to mitigate flight risk, never put them in a box or apply a ceiling to how much they can earn.
- When it comes to online PPC marketing, Google and Bing are significantly higher converting than social media platforms such as Facebook or Instagram.
- To quickly get up to speed in any market for single family properties, first look at for sale listings on Zillow and analyze total saves and total days on market. Then do direct comps using Propstream.
- The key to breaking through your plateau in your business is having the right team in place, using the right digital marketing, and going nationwide.
Best Way to Contact Nick:
@Nickperryrei on Instagram
#30 Automate Your Land Business with VAs and a CRM with Alicia Jarrett
Alicia is a passionate and driven global real estate investor based out of Australia,
conducting deals in the USA. She co-owns multiple businesses including Global Citizens
Holdings Inc., Landscouts, Supercharged Offers and WILDA for Women in Business. Focused on leadership in business and investing in land, her business ventures provide efficient real estate marketing and world-class data solutions, which assists other real estate investors to digitally transform their business for increased results.
Ways to Contact Alicia:
- Use a CRM like Hivemind or Freshworks to automate your pipeline and task management.
- Develop quantified, crystal clear KPIs before delegating the workflow to a VA.
- If running VAs on a part time schedule, hold team calls during the overlapping time between the morning and afternoon shifts.
- Stagger VA shifts in order to cover all 7 days of the week.
- Instead of spending money on facebook ads that advertise to everyone, match your mailer list to facebook profiles and only target those people. Also, don’t run “get your cash offer now” ads. Instead, explain what you’re offering.
- Utilize all forms of marketing. Each seller will have their own personal preference for how they want to interact with your company.
- The key to success is sticking to a consistent schedule. Most land investors fall into the trap of sending a mailer, getting tied up with processing those deals, without replenishing the pipeline to get more deals.
#29 From Tri-plexes to Over 900 Doors with Whitney Sewell
Whitney is founder and CEO of Life Bridge Capital, a multifamily syndication investment company that donates 50% of its profits to help families adopt children. Since starting, they have invested over $150 million across more than 900 doors. Whitney is also host of The Real Estate Syndication Show podcast.
$100m in 2020
Whitney Sewell is a seasoned real estate investor, podcast host, philanthropist and founder of Life Bridge Capital. Whitney has acquired 900 doors and $150 million in assets under management, and interviewed over 1000 experts on The Real Estate Syndication Show. Whitney was able to scale his business at a groundbreaking pace - starting from nothing in 2017 to now consistently raising over $10 million in a few hours.
- Networking is key when starting out so that you can connect with people that are running the right programming and can bring you to the next level you’re trying to get to.
- Always have an advisor / mentor on your first few deals (especially your first deal) to help identify risk factors that you may be blind to such as overly trusting the seller, broker, or anyone else during your due diligence stage.
- As you scale your business by adding more properties to your portfolio, you also need to scale your team.
- Although acquisition fees and asset management fees can range from 2% to 4%, these fees are important in covering a large amount of costs that go into setting up legal entities.
- Every property that Whitney invests in has an expense cash reserve of at least 6 to 9 months.
- As a passive investor considering investing in a deal, one of the first things that’s extremely important to ask is when the first distributions will be made. It is crucial to understand the general partner’s business model for the deal. If the sponsor can’t clearly answer questions on this topic, then the business plan may not hold water and you might need to consider investing in a different deal with a different sponsor.
- Dual class structures split limited partner shares into class A and class B, where class A get a preferred 10% return for example, but no upside in the equity when the asset is sold, while class B receives a 7% to 8% preferred return, and receives 70% of the equity upside at the end of the deal.
- One way to increase the value of a multifamily property beyond increasing rents and decreasing expenses is being creative like charging for pet fees, covered parking, and dedicated parking spots.
Best Way to Contact Whitney:
Text Whitney at the number he gives out toward the end of the episode or email him or Mason asking for it.
Excellent Actionable Connections
Loving the content Mason is bringing to the REI realm.
Scalable REI and the host Mason will bring fresh content every episode. I have been impreseed with his insights, delving into topics like real estate investing, and doing it at scale in a straightforward way. You'll get hooked after just one episode! Check it out and subscribe! - Mark Willis
Keep up the good work