Best Real Estate Investing Advice Ever With Joe Fairless

In this episode, Theo shares how he would go about underwriting an apartment syndication deal when there are no LPs or maybe as a joint venture. He uses a simplified cash flow calculator to help him through this process and walks you through what he is doing along the way. Download the FREE calculator so you can follow along with Theo.    FREE DOCUMENT: Simplified Cash Flow Calculator: https://www.dropbox.com/s/pfwff7g1vmhoi95/Simplified%20Cash%20Flow%20Calculator.xlsx?dl=0    To listen to other Syndication School series about the “How To’s” of apartment syndications and to download your FREE document, visit SyndicationSchool.com. Thank you for listening and I will talk to you tomorrow.    Best Ever Tweet: “Syndication School is a free resource to teach others how to do apartment syndication” - Theo Hicks Learn more about your ad choices. Visit megaphone.fm/adchoices

Mark Owens is from Baltimore and has been an active full-time real estate investor for the past 14 years, owns over 100 units, 200 wholesales, and self manages all of his units. Mark believes his secret to having success and having more options than most investors is all due to the way he views decision making. He shares some great examples of how he has been able to separate himself from the heard of real estate investors when it comes to making decisions.  Mark Owens Real Estate Background: Active full-time real estate investor for 17 years Owns over 100 units, has done around 200 wholesales, self manages all units Units comprised of single families and 7-18 unit multifamilies Based in Baltimore, MD Say hi to him at https://markowens.com/ Best Ever Tweet: “Manage your properties like a business, not a hobby. ” - Mark Owens Learn more about your ad choices. Visit megaphone.fm/adchoices

Jacob is a real estate broker based in New York City and he also focuses on raising money for multi-family syndications and has recently completed his first hotel deal. In this episode, he shares how he has been able to build a business through networking by attending events, LinkedIn, and reaching out to others on Facebook. Jacob Busani Real Estate Background: Real estate broker and syndicator Has been involved in over $157M of real estate closings Based in NYC, NY Say hi to him at Jacobbusani.com  Best Ever Tweet: “The deal I didn’t do is the one I lost the most money on. ” - Jacob Busani Learn more about your ad choices. Visit megaphone.fm/adchoices

Shoshana is a digital media veteran with 30 years of marking management experience on both the agency and client-side. She ran marketing for audible for 4 years before they were purchased by Amazon. She has the skills to help early-stage business’s grow through marketing. In this episode, she gives some great insight on how to think like a marketer when it comes to growing your audience base, whether that is listeners, investors, or distressed properties.  Shoshana Winter Real Estate Background: Digital media veteran, bringing nearly 30 years of marketing management experience on both the agency and client side Now working at iintoo, the company has managed and raised 357 deals and $600M with a gross asset value of $2.5B Based in NYC, NY Say hi to her at https://www.iintoo.com/ Best Ever Tweet: “I think it’s not just about being lazy, I think we become lazy because we lost faith perhaps.” - Soshana Winter Learn more about your ad choices. Visit megaphone.fm/adchoices

Michael has been in career advising and business consulting for about 25 years now. Before he found his calling he was at a job he was good at but no longer had any passion for and in fact, was making him depressed. Michael went to a career counselor in search of some help because he wanted to find something different and all that did was make him more depressed because they had him apply to 150 jobs and he only had one response. He later realized it wasn’t him or his resume per se but his strategy on how to find work. He shares five solutions he uses to help many of his clients during transitions to find careers that bring them fulfillment. He also shares an amazing tip on how to network instead of the old-fashioned way. Michael Alan Tate Real Estate Background: President and CEO of On the Same Page Consulting Over 20 years of experience as an executive coach, consultant, and strategist Consults clients through making career changes Based in Birmingham, AL Say hi to him at https://michaelalantate.com/

Leslie grew up around entrepreneurship and investing in real estate. Her family invested in real estate when she was growing up, and she and her brother had to clean the houses and paint them. Joe and Leslie discuss how and what she plans to do with her family when she passes the torch to her son and she shares the six steps from her book Legacy “A guide to successfully transferring wealth from one generation to the next.”  Leslie Quinsay Real Estate Background: Has a real estate portfolio of around 30 properties, with experience in both commercial and residential Previously owned and sold a 30,000 sq. ft. office building Based in Toronto, Canada Get her book at https://amzn.to/2Tka0XI  Say hi to her at https://lesliequinsay.com/ Best Ever Tweet: "At the end of the day your role is to be the captain of this team, so you pull all these experts together, but it's really up to you to guide the team and make sure that the things they put together are things you want for your family." Leslie Quinsay Lea

This is part 2/2 of a Syndication Series Theo started in Episode JF2010 where he goes over the best tips and advice he gained from the speakers and conversations he had with other investors at the Best Ever Conference 2020 in Key Stone, Colorado. The Best Ever Conference hosts many great speakers who talk on multiple real estate investing topics but the ones Theo will be sharing today are focused on Apartment Syndication. Enjoy this episode as he explains his takeaways from day one of the conference and what he felt was very helpful from different speakers.     Best Ever Tweet: “As a GP this is obviously a good thing because if it's just a straight up profit split you end up making more money, as opposed to having to give away 8%, 10% of the deal before you make a profit split ” - Theo Hicks Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Syndication School, Theo shares the best tips and advice he learned from The Best Ever Conference 2020. The Best Ever Conference hosts many great speakers on different real estate investing topics but the ones Theo will be sharing today are focused on Apartment Syndication. Enjoy this episode as he explains his takeaways from day one of the conference and what he felt was very helpful from different speakers.     Best Ever Tweet: “Don't make offers in your personal name so basically create a separate LLC, that you use to make offers and then have something in the contract that allows you to assign the contract to yourself, and the reason why you want to do this is because if you walk away from the deal the seller can sue you personally for damages.” - Theo Hicks Learn more about your ad choices. Visit megaphone.fm/adchoices

Spencer just recently went full-time real estate investor. He grew up with his parents both active in real estate and as a child didn’t find it as something he was interested in so he instead went into the world of Technology. During his journey in the Tech-Start-Up world, he landed in a real estate tech company and learned about real estate investing. He then started out in single-family houses and after about 6 investment properties decided it was to slow and started to research multifamily. 10 multifamily deals later he now has a successful real estate business with his wife as his business partner.  Spencer Hilligoss Real Estate Background: Co-founder of Madison Investing Active syndicator, real estate investor, and executive leader Retired from his technology career of 13 years, just 4 weeks ago to go full time in multifamily real estate Has co-sponsored deals totaling more than 3000 units and $328 Million Based in Alameda, CA Say hi to him at https://www.madisoninvesting.co/ Best Ever Book:

Michael’s background was in chemical engineering and after a while, he got tired of the rat race and started to find an interest in real estate. He began by first flipping small duplexes and now has grown the company to millions in assets. His company is now at 300 units, with a mix up of 10-12 buildings. In the beginning, he started out financing his deals with local banks by building relationships with them but more recently have partnered with Goldman Sachs to fund future deals.  Michael Merideth Real Estate Background: Co-founder of Verius Property Group, a real estate development company His role is strategic planning Started flipping small duplexes, has grown the company to millions in assets Based in New Orleans, LA Say hi to him at http://veriusgroup.com/ Best Ever Tweet: “Not getting to recreative and out the box to create something because, in the end, you’re protecting an investment whether it’s yours or a co-investment amongst other people it’s to make sure that the numbers are what the

Chris Tuff is an expert in working with millennials and getting high levels of production from them. His new book "The Millennial Whisperer," explains that there are two different types of millennials; the "Snap-Chat" and "Oregon Trail". In this episode, you will learn about each of these two different types so you will be better prepared when you are looking to build your own business and hiring help for the first time. He also shares some great stories to put you in the seat of each generation so you can have a better understanding of why they think the way they do so you will be better prepared. Chris Tuff Real Estate Background: Expert in working with millennials and getting high levels of production from them Youngest partner in the 100-year history of Atlanta-based advertising agency, 22squared, where he turned a team of Millennials from an “investment” to a major profit center Based in Atlanta, GA Say hi to him at https://www.themillennialwhisperer.com/bestever  Best Ever Tweet: “They want to

Ellie Perlman started out as a  real estate lawyer and experienced the crash in 2008 which made her a very conservative investor because she saw how not being conservative can kill your business. Her focus is on buying MultiFamily properties across the US. She shares how she started her business with the mindset of “How do I create a process that can scalable” instead of “How do I get this deal done so I can move onto the next one?” She shares a great tip on what helped her scale her business by presenting to multiple investors without having to tell the same story over and over. Ellie Perlman Real Estate Background: Founder of Blue Lake Capital Portfolio of $93 million in multifamily properties Host of the podcast That REllie Happened? Based in Santa Monica, CA Say hi to her at https://www.ellieperlman.com/  Best Ever Tweet: “Don’t think about it as one deal, I need to get the one deal done and then figure out the second or the third one. Those deals they don’t work in silos, so think about its a b

Beth is a real estate broker and an investor who owns 9 properties. She got into real estate investing in 2002 and later in life married her Husband who also had a few properties of his own. Beth shares some insight on how investors should reach out when looking to work with real estate brokers to find the best deals. She shares how important it is for real estate brokers to pay attention to the inventory and constantly be up to date to find the best deals and instead of always handing them off, take advantage of them. Beth Traverso Real Estate Background: Real estate investor and broker, owns 9 investment properties in the Seattle area Her team is projected to sell $67,000,000 in volume this year Based in Seattle, WA Say hi to her at http://www.bethtraversogroup.com/  Best Ever Book: The Compound Effect Best Ever Tweet: “The main thing is for people just to believe they can do it, give themselves some credit to being able to handle challenges and be able to learn from others so they can better yet

Zack Boothe owned a window cleaning business and use to listen to our show while working and now is on our show! Zack shares his marketing strategy to find deals that you can wholesale, flip, or hold for the long-term. He uses a unique system that helps him find 2,000 distressed property every week with just one 30 hr part-time driver who is driving for dollars.  Zack Boothe Real Estate Background: Left his window cleaning business in 2017 to become a real estate investor On track to do over $1 Million in 2019, teaches others how to find properties for $.50 on the dollar Based in Salt Lake City, Utah Say hi to him at www.DFDmastery.com Best Ever Book: Best Ever Tweet: “The difference that I have with the systems and the software that we’re using is, you can go with one part time guy and find thousands of distressed properties every single week.” - Zack Boothe Learn more about your ad choices. Visit megaphone.fm/adchoices

Daniel Ramsey bought his first house at 24 and it was an investment property for him. Daniel’s journey as an entrepreneur took him on a path to hire his own Virtual Assistants to help him in his business and later discovering a need in the marketplace and decided to start MyOutDesk. He shares how valuable VA’s can be for your business and how it can double your business rather than just replacing a task. You will learn some valuable unique questions he asks every entrepreneur before they hire his company to make sure they can grow their business. These questions can help you even if you do not hire a VA. Daniel Ramsey Real Estate Background: Founder & CEO of MyOutDesk, a virtual assistant company Licensed real estate broker, mortgage broker, and general contractor has sold hundreds of homes and made millions in commissions Based in Sacramento, CA Say hi to him at https://www.myoutdesk.com/  Best Ever Book: The Richest Man in Babylon Best Ever Tweet: “You’ve cut $100,000 dollars of my payroll every 2

Zach helps investors locate and identify properties that fit their goals; whether that is cash flow or long term appreciation. He explains how diversifying where your investment property is located can be beneficial. On average his clients have investment properties that are 900 miles from their residence. Zach also gives out some great lessons on what to pay attention to when buying properties.  Zach Evanish Real Estate Background: Director of Retail at Roofstock He’s been with Roofstock since the beginning and has worked in the real estate sector for most of his career Based in Oakland, CA Listen to our interview with Roofstock’s CEO, Gary Beasley: JF1129: Buy Cash-Flowing Properties Online with Gary Beasley  Say hi to him at https://www.roofstock.com/  Best Ever Book: Think and Grow Rich  Best Ever Tweet: “He said “No”. Go Buy a single-family home, start with that and then from there we can talk about duplexes and fourplexes. How do you think I got these 10-15,  50 unit apartment buildings? I s

Ken is a business owner who started out as a land broker and in 2008 he quickly learned how to adapt due to the economic downturn. Fast Forward to today and now he has developed a successful app called Legacy of Love, an app that helps connect kids with their parents. Ken also shares a story on how he went from purchasing a shopping center and searching for tenants to creating his own tenant.  Ken Wimberly Real Estate Background: Founder and visionary behind Legacy of Love, LLC. Entrepreneur and real estate investor, has 16 streams of passive income and 4 streams of active income Based in Fort Worth, Texas  Say hi to him at https://www.laundryluv.com/  Best Ever Book: The Obstacle is the Way  Best Ever Tweet: “Whether it’s a client, customers, tenants, your partners, your lenders, if we can figure out how to be a significant source of value to others life rewards us.” - Ken Wimberly Learn more about your ad choices. Visit megaphone.fm/adchoices

William is a returning guest from one of our very first episodes, JF09. William has been focusing his efforts on growing his Hybrid Turnkey Business and shares some of the benefits of having a successful business that purchases many deals a year including discounts with local contractors, plumbers, electricians, and materials. He also shares how he prepares to negotiate the terms of a bulk deal with a vendor. You would think it would be easy but it takes a lot of work and many no’s before he finds the right partner. William Robison Real Estate Background: Has been in real estate for 15 years Started a brokerage in 2008 Has helped dozens of investors purchase hybrid turnkey investments, totaling over 500 acquisitions, renovations and daily property management Listen to his previous episode: JF 09: One Critical Component of Building a Real Estate Biz Based in Kansas City, MO Say hi to him at https://www.kansascityinvestmentrealestate.com/ Best Ever Tweet: “They get too comfortable with their

Returning guest Ryan Groene from episode JF1686 shares a great learning experience around partnering with the wrong group of individuals. Ryan explains how quick partnerships on a single deal or two is significantly different from partnering to grow a business. He shares 5 great questions he plans to ask before deciding to partner with a future individual and how important it is to get to know them at a more personal level.  Ryan Groene Real Estate Background: Full time Mobile Home Park Owner and Operator Has owned 3 mobile home parks totaling 175 spaces,  Based in Charleston, SC Say hi to him at ryan.groene55ATgmail.com  Best Ever Book: What it Takes By Stephen Schwarzman Best Ever Tweet: “You kinda have to find somebody who matches your lifestyle, and somebody you don't mind spending a lot of time with, whether it's virtual over on the phone, email back and forth, texting back and forth or even in person.” Ryan Groene The Best Ever Conference is approaching quickly and you could earn your ticket

Russ’s goal is to teach people how to build wealth without wall street. He shares the first step to building his client's wealth by looking at the five pillars; Building cash flow, Cash Value, Real Estate, Business, and Lending. Russ will change how you see life-insurance when most people have the Walmart shopping mindset of paying as little as possible with the hopes of big returns, he suggests the opposite and explains an old secret in Whole Life Insurance.  Russ Morgan Real Estate Background: Started career in the financial industry, just to be in shock when the DOW Jones plummeted 800 points in 2008 Now Russ, with his company Wealth Without Wallstreet, helps clients invest their money in something safer, develop financial strategies, and plan for retirement Based in Birmingham, AL Say hi to him at http://www.wealthwithoutwallstreet.com/ Best Ever Book: Best Ever Tweet: “An Insurance Policy when somebody pays a premium, I kind of refer to it more as a deposit. When that money goes into an insura