A complete guide to Season One of the Multifamily Mentors Show on Bigger Pockets.
In this episode, Sterling White shares how he went from living in section 8 housing and dropping out of college to owning just shy of 500 units in multifamily real estate. Sterling learned early on that you have to push past failure and he even broke a world record doing so. He started driving for dollars, looking for wholesale deals, and cold calling daily to secure more units. He shares his personal cold calling systems and structures a cold call for new investors or someone who doesn’t have any capital!
Episode Two: Giving Up 80% Of His Income to Invest in Apartments
Most people think that if you give someone a good job, high pay, and a comfortable desk to sit at every day, they’ll be happy. Those of us in the real estate investing community know that that’s far from true. Pursuing your dreams can often be more important than being able to cash in that paycheck every two weeks, and can lead to far greater riches in the future. So how do you know when to jump ship and chase what you’re passionate about
We talk to Robert Martinez, founder of Rockstar Capital, about ditching corporate sales to invest in apartments and other multifamily rentals. Robert has raised $14m in equity, and in this episode, he shares how he got to where he is today and tactical tips that helped him along the way. He drops a ton of value bombs about all things multi-family that you don’t want to miss.
Episode Three: Losing $50M & Bouncing Back Better with Rod Khleif
Rod Khleif has spent decades building a massive multifamily portfolio. And back in the early 2000s, he remembers his net worth increasing by $17M while he slept. Then, a rude awakening, the 2008 housing market crash, handed him a loss of close to $50M. How do you bounce back, let alone get out of bed in the morning, after losing that much money? It’s possible, and Rod talks about what he needed to do to get back to successful investing.
Rod educates us on the investing mindset, the importance of identifying what you truly want in life and how to get there. He takes us through an exercise that helps to identify our biggest dreams and how to achieve them. Rod’s philosophy is manifesting while taking action, which is one of the many principles that he teaches.
We also talk about raising capital in real estate through reach, structure deals, and other creative financing. If you’re looking to build a BIG multifamily portfolio, there is no better mentor to hear from than Rod!
Scaling multifamily investments is usually something that a veteran investor worries about, not a couple of college students doing their first deals.
Van Hayge and Kyle Marcolette both knew that the 9-5 lifestyle wasn’t something that was sustainable for them, so when they linked up to talk about real estate, a fire was lit under both of them to go farther, faster, and smarter than the average investor.
Kyle dropped out of college and didn’t tell his family for six months until he closed on his first deal.Van went from 0-300 doors in a year because he understood the importance of building relationships and adding value to those you want to learn from. Now, they’re closing more deals and creating financial freedom at an incredibly young age!
Episode Five: How 1 Duplex Investment Turned into 3,300 Rental Units
How does one duplex investment turn into 3,300 rental units? If you’ve followed BiggerPockets for a while, you may have caught onto the custom of new investors becoming addicted to real estate, and Maureen Miles is no different. She walks us through how she went from her first duplex to doing over $250M in transactions.
Maureen describes the highs and lows of her real estate investing journey, including when she had back surgery, and the time her family chipped in to do whatever they could to make a deal happen. We’re talking about construction management, property management, and turning over units for new tenants!
You will walk away learning about nuances to consider when underwriting properties and how one wise decision saved Maureen’s entire business. Once again, successful multifamily investors show that you can go from owning one property to thousands. All you need to do is put in the work!
Buying an apartment investment wasn’t what David Toupin thought he could do as a new real estate investor. He subscribed to the belief that he needed to first learn single family, then multifamily, then finally commercial/large multifamily investing. This wasn’t exactly the case, and when David started meeting up with multifamily investor rockstars like Steve Mills and Rod Khleif, he knew he had to push aside those limiting beliefs to tackle (much) bigger deals than anticipated.
David went from house hacking a 96 unit property, standing in as the property manager, general contractor, and landscaping crew to buying over 500 units across Texas, owning a syndication company, and creating software for other multi-family owners. David gives a ton of information about overcoming hard times and his mindset around investing in multifamily.
Episode Seven: Multifamily Financing: How a 24-Year-Old Raised $20M
Multifamily financing and funding can seem complicated to a single-family investor onlooker, but at the end of the day, raising money for deals is all about who you know, who knows you, and what you can bring to the table for investors. Rob Beardsley was able to hit on all these points, at an exceptionally young age.
At 24 years old, he founded Lone Star Capital, authored The Definitive Guide to Underwriting Multifamily Acquisitions, and has raised over $20m in equity. In this episode, we dive deep into multifamily underwriting, the importance of networking, and how Rob got to where he is today.
Rob is the definition of hard work leading to success, and he shares with us all that he did to put in the work before getting to where he is today. If you are interested in getting into multi-family deals, this is the episode for you!
Episode Eight: $22M in The First Two Years and a Mindset for Multifamily
Multifamily investor Steven Pesavento tried to get into real estate investing in the past. He would make an offer, the offer would get rejected, and he would forget about real estate. Then, a couple of years later, he’d do the same thing, only to be dejected once again and stop his search for properties. It wasn’t until he was 26, that he made the decision that he was going to stick with real estate and make it work, no matter what.
Fast forward a couple of years, Steven bought and flipped over $22 million dollars in real estate, but was growing tired of the workload. He wanted a more strategic position, something where he could tackle large deals, with less upfront capital, and more room to grow. This is when Steven started looking into real estate syndications.
Steven shares how he switched from investing in single-family homes to large multi-family deals and what it truly means to be a real estate syndicator. We also talk about a “Fund of Funds” which pools smaller investors together into one fund to open up deals that they wouldn’t usually be able to access. He has seen very impressive growth over the past few years, and we’re excited to share his story with you.
We love sharing immigrant investor stories since they showcase how someone with no connections, no credit score, and often no money can come to the United States and flourish through real estate investing. Our guest today, Reed Goossens is no different.
Reed came to the United States following his two loves: his future wife and living as an ex-pat in New York City. He knew that back home in Australia his days would be spent behind a cubicle as a structural engineer, but after reading Rich Dad Poor Dad, his mentality changed.
Reed found his first multifamily deal and threw almost every penny of his savings into it. Through this deal, he got a reality check that gave him a life lesson that you would only get through the experience of investing in the U.S. Through his drive and the unique perspective he was able to scale and develop a very successful real estate investing business. Reed explains how he persevered through the tough time of starting over and the steps he used to get through it all, including how finding a mentor accelerated his goals.
He has co-founded Wildhorn Capital which has a $350M portfolio and hosts a successful podcast ‘Investing in the U.S.’. He’s also authored two different books, ‘Investing in the U.S.’ and ‘1,000 Miles to the American Dream’.
The life of a commercial real estate broker is not easy. You need to go through years of learning the trade, building relationships, and cold calling in order to reach success. Although many people will fall through the cracks, those that successfully build a career in commercial real estate have massive upside potential.
Today we talk to Adam Riddle, commercial real estate broker, former ski bum, and founder of Nexus Commercial Realty (now merged with Capstone Companies). Adam began his career right before the 2008 crash, forcing him to find creative solutions to get deals done. His commissions ranged from getting a condo, a car, and getting paid through payment plans (seriously).
In this episode, he shares five things that you need to be ready to answer when talking to a new broker, the mindset to persevere as a new commercial real estate broker through a financial collapse, and so much more!
Episode Eleven: Using Online Poker Profits to Springboard a Real Estate Career
A real estate career doesn’t start off the same for everyone. Hunter Thompson, founder of Asym Capital, started his journey into multifamily real estate investing by playing online poker. At the age of 21, he was bringing in $25,000+ from poker alone, doing anything he could to avoid having a boss.
Once Hunter dipped his toe in the multifamily waters, first through mobile home investing, he realized that it was a way to build large amounts of wealth, without the gambling risk.
Now, he has raised over $75M for multifamily real estate deals! In this episode, Hunter goes deep into how his journey began and the exact steps to take when getting started as a capital raiser including the importance of marketing and mindset. He even goes into detail on what he looks at when presented with a deal!
Episode Twelve: Commercial Lending 101: Bigger Deals & Better Financing
Commercial lending is a massive part of multifamily lending as a whole. If you’re looking to tackle bigger real estate deals, with more capital needed, you’ll need to become an expert in all things related to commercial loans. Or, you could partner up with a couple of rockstar brokers like William Foy and Marcus Davis from Spearhead Mortgage.
On Today’s show, William and Marcus dive into the nuances of investing, including creative financing options for multi-family investors, residential vs. commercial loans, the fundamentals to keep in mind when approaching a broker, and the five key things brokers look for when presented deals!