ATE-First Deal Criteria with Drew Whitson and Joe Balayti
Diary of an Apartment Investor
What to focus on in finding your first deal, and how to balance investing, a W2 job, and family as told by Drew to inspiring investor Joe. Interested in being on the show? Visit our website at www.fouroakscapital.com/podcast or email me at firstname.lastname@example.orgDownload our free investing guide at www.fouroakscapital.comDrew WhitsonDrew began his real estate career working for a boutique investment banking firm in St. Paul, Minnesota, which specialized in syndication of Public and Private Limited Partnership real estate funds, focusing on net lease single tenant properties. Drew began purchasing single family homes in St. Paul, Minnesota and later expanded to apartment syndications. Over the past decade, Drew's expanded his portfolio to over 2200 units by acquiring multifamily properties in Minnesota, Huntsville, Alabama, Little Rock, Arkansas, Atlanta, and the Memphis markets. In addition to being a full time real estate investor, syndicator and coach, he's a professor of finance at Bethel University in St. Paul, Minnesota, and lives with his wife and his four tax deductions in St. Paul, Minnesota. Email Drew at email@example.com find him on LinkedIn https://www.linkedin.com/in/drew-whitson/ ----Joe BalaytiJoe is born and raised outside of Chicago. He graduated from the University of Illinois and worked as a project engineering construction for a while, and then served as an active duty infantry officer in the Marine Corps from 2011-2017. A little while later, he graduated with an MBA, and is now working in Atlanta. He's purchased two duplexes, a block away from each other house, hacking one of them, and the other one that he's turned into an Airbnb. And now he's currently working with a local team to get his first commercial deal in the Atlanta Georgia market. Check out his website https://www.opcapllc.com/or find him on LinkedIn https://www.linkedin.com/in/joebalayti/----Your host, Brian Briscoe, is a co-founder and principal in the real estate investing firm Four Oaks Capital. He and his team currently have 168 units worth $7.5 million in assets under management and are continuing to grow. He will retire as a Lieutenant Colonel in the United States Marine Corps in 2021. Learn more about him and the Four Oaks team at www.fouroakscapital.com or contact him at firstname.lastname@example.org - be sure to let him know where you found him.Connect with him on LinkedIn, Facebook, or on Bigger Pockets.
Episode 020: Drew Whitson talks about his transition from single family to multifamily investing and his motivating "why".
Value Added: The Real Estate Podcast
Drew Whitson started amassing a single family real estate portfolio during the Great Recession of 2008-2009. He quickly realized that in order to scale his investing business, he would have to move on to larger multifamily assets. Drew sold off his single family and smaller multifamily holdings to focus on acquiring larger apartment buildings through joint ventures and other strategic partnerships. Today, he and his strategic partners control approximately 2,200 units around the country. Hear how he did it on today's episode. Book: "Progress" by Johan Norberg https://www.amazon.com/dp/1786070650/ref=cm_sw_em_r_mt_dp_yf.vFbSFAXKWQ
MB 228: What’s Working Now to Get Deals Done – With Drew Whitson & the Michael Blank Mentoring Team
Apartment Building Investing with Michael Blank Podcast
Despite the disruption of COVID-19, multifamily investors are still doing deals. The question is, HOW? What’s working right now to get deals done? What isn’t? What are real people doing to find success in today’s market environment? On this episode of Apartment Building Investing, I’m handing the mic over to Drew Whitson to moderate a discussion with our mentoring team, Todd Dexheimer, Brad Tacia, Phil Capron and Matt Brawner, on what’s working now to get deals done. We explain how our mentoring students are leveraging the COVID pause to build relationships and how the balance of power has shifted among syndicator, buyer and broker in recent months. We go on to explore the benefit of a strong relationship with your property manager and how underwriting has changed in light of the pandemic. Listen in for insight into what makes multifamily the strongest asset class in real estate and learn the ONE thing our most successful students are doing right now to get deals done. Key Takeaways What Matt’s most successful students have done in 2020 Leverage pause in market (Seinfeld time) Use time to build relationships with brokers What Phil’s students are doing to acquire multifamily properties Worry about ‘making it to next meal’ Figure out how to become viable buyer Todd’s advice on how to talk to investors right now Continue to educate and keep investors informed Overcommunicate to build relationships How Brad is coaching his students around underwriting Network with mortgage broker re: what’s changed Modify SDAs to ensure accurate underwriting How running a property management firm informs Matt’s underwriting Understanding of street rent and how units operate over time Haven’t cut back on rents but less aggressive with rent bumps How underwriting has changed in light of the COVID pandemic Build in more time for rent growth Consider changes in rental laws by market What makes multifamily the strongest asset class in real estate Performs well through economic disruption Lockdown led to desire for nicer apartment The one thing our most successful students are doing right now Willing to make mistakes by doing Get out there and build relationships Analyze deals (still numbers game) Willing to partner to gain experience Take consistent action every day Connect with Drew, Todd, Brad, Phil & Matt Drew Whitson Todd Dexheimer Brad Tacia Phil Capron Matt Brawner Resources Learn More About Michael’s Mentoring Program Purchase the Replay of Deal Maker Live Pillars of Wealth Creation Podcast Garrett Lynch CoStar Rentometer Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group
Ep. 03 | 2,000 Units by age 40 - With Drew Whitson
Drew Whitson joins to talk about Asset Managers, the Law of the First Deal, Having the Best Offer, and how He got started in Real Estate. Find out all of this in this episode of Tangible Assets: The New Rules of Real Estate.
Drew Whitson, Multifamily Real Estate Investor, Syndicator and Coach at Whitson Capital
Money Matters Top Tips with Adam Torres
Drew Whitson, Multifamily Real Estate Investor, Syndicator and Coach at Whitson Capital is interviewed in this episode. Follow Adam on Instagram at Ask Adam Torres for up to date information on book releases and tour schedule. Apply to be interviewed by Adam on our podcast: https://www.moneymatterstoptips.com/podcastguest--- Support this podcast: https://anchor.fm/moneymatters/support
MB 183: Pursue a Meaningful Life Through Multifamily Investing – With Drew Whitson
Apartment Building Investing with Michael Blank Podcast
Most of us would really like to live a life of purpose. Problem is, working a traditional W-2 job can take all the good out of you. We come home exhausted and have little bandwidth left for our families, so the idea of serving others seems totally out of reach. But what kind of impact could you make if your living expenses were covered? What if you had the time freedom to pursue a meaningful life? What if multifamily real estate investing could get you there in three years? Drew Whitson is a full-time real estate investor with a portfolio of 1,000-plus units in five states. He also happens to run The Michael Blank Investor Incubator, serving as a mentor and coach to help aspiring multifamily investors do their first apartment building deal. Drew spent 16 years working in corporate finance before leaving his W-2 job at a boutique investment banking firm in early 2018 to focus exclusively on his real estate career. On this episode, Drew joins me to explain how achieving financial freedom has given him the opportunity to pursue a meaningful life. He describes how getting laid off twice in a single year inspired him to control his own destiny by way of multifamily syndication. Drew walks us through his first few apartment building deals and discusses why buying a 32-unit property was so much easier than a fourplex! Listen in for Drew’s insight around raising money BEFORE you have a deal under contract, getting brokers to take you seriously as a newbie, and joint venturing with partners who share your vision for the future. Key Takeaways How financial freedom changed Drew’s life Opportunity to pursue meaningful things Impact world through service to others The capacity to live a meaningful life AND work full-time Must be extraordinarily intentional Options open up once expenses covered What inspired Drew to build an identity beyond his W-2 Laid off twice in single year Sense of determination to control own destiny Drew’s real estate experience prior to quitting his job Bought multiple SFH when market down Built portfolio of 400 multifamily units What drew Drew to multifamily investing Only asset can buy with other people’s money Appreciation, resilience, tax benefits and scale Drew’s first multifamily real estate deals Bought fourplex with partner through Wells Fargo 32-unit with small commercial lender much easier Drew’s experience of raising money for the first time Terrified of losing friends/family money Learned that money follows good deals How to raise money WITHOUT a deal under contract Put together sample deal package Soft commitments from potential investors How to get brokers and investors to take you seriously Build great team to help execute Be specific about what you want Use right language No substitute for action How long it takes Drew’s students to get competent 30 days to get comfortable with language 90 days for market analysis, team and tools The power of joint venturing in multifamily Engaged community keeps you motivated Play to strengths + scale portfolio together Drew’s advice for aspiring multifamily syndicators Find likeminded people at Meetup groups Get educated through books and podcasts Commit to vision and take ACTION Connect with Drew Whitson The Michael Blank Investor Incubator Resources Dave Ramsey’s Financial Peace University Drew Kniffin Nighthawk Equity David Kamara on ABI EP182 Meetup.com Deal Maker Live The Miracle Equation: The Two Decisions That Move Your Biggest Goals from Possible, to Probable, to Inevitable by Hal Elrod Podcast Show Notes Review the Podcast on iTunes Michael’s Website Michael on Facebook Michael on Instagram Michael on YouTube Apartment Investor Network Facebook Group Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank
POWC #184 - There is no Substitute for Taking Action with Drew Whitson
Pillars Of Wealth Creation
Drew Whitson is a multifamily investor and mentor, as well as a college professor. Drew discusses the value of taking action, scaling your business and building relationships. Drew also talks about contribution and finding ways to make money not just for yourself, but making an impact on the communities that you're involved in.Mark your calendar for the Northstar Real Estate Conference, September 20-21, 2019. Enter discountcode “EARLYBIRD” to get $100 off your ticket: https://www.eventbrite.com/e/northstar-real-estate-conference-tickets-60289848560?aff=Todd1Connect with Pillars Of Wealth Creation on Facebook:https://www.facebook.com/PillarsofWealthCreation/Subscribe to our email list at www.pillarsofwealthcreation.comSubscribe to our YouTube channel: https://www.youtube.com/channel/UCkg8HggkdPAuBaAQySJSEQQ