Flipping Apartments with Ben Leybovich | Flip Lab Podcast EP-15
Flip Lab Podcast
Ben Leybovich, s long time Big Pockets writer and Managing Partner of WhiteHaven Capital joins The Flip Lab to discuss how and why he got into Apartment syndications. Ben the past few years has been flipping Multi Millionaire dollar Apartments around Phoenix one of the hottest metros in the entire Country. Ben dives into what it takes to get into this business and how he has found success in such a competitive space.
The Growth Factor; Risk, Adjustment, Return with Ben Leybovich
Ben Leybovich, Co-Founder and Principal at WhiteHaven Capital and WhiteHaven Construction, is a Multifamily investor and syndicator with $100M+ under management. As a principal, Ben oversees new acquisitions, asset management, and investor relations. Ben has been investing in multifamily real estate since 2006. He has been a guest on over a dozen real estate related podcasts, is a public speaker at events across the country, and is a published author. One of the biggest core values that makes Ben tick, is the continuing desire to always grow intellectually and take on new challenges that force him to make pivots that cause forward momentum.[00:01 – 08:01] Been there, Done that, Now What?Let’s get to know BenScaling and growing personally and intellectually in the multifamily space [08:02 – 13:41] Exponentiality: The Growth FactorBen’s thoughts on personal growth and the importance of challengeA metaphor for the process of growth Make sure every step you take is better than the step you made before[13:42 – 22:13] Risk, Adjustment, ReturnYou’re here for a short time, what are you doing with your time?Ben’s drive to build a construction agency - risk, adjustment, return [22:14 – 28:27] THE FINAL FOURWhat's the worst job that you ever had?Never had a job - always the entrepreneur What's a book you've read that has given you a paradigm shift?How I Turned $1,000 into a Million in Real Estate - William NickersonWhat is a skill or talent that you would like to learn?Dance skillsWhat does success mean to you?Going back to the idea of growth Connect with Ben. Links available below. Tweetable Quotes:"I was never a linear guy, ever in my life. It’s all about learning and pivoting and learning new things, and exponentiality for me.” - Ben Leybovich “The way I look at business, it’s all about risk, adjustment, return. There is going to be risk in business with every step you take, the question is, is the return sufficient enough to justify the risk?” - Ben Leybovich Resources Mentioned:https://justaskbenwhy.com/ You can connect with Ben on LinkedIn or at https://www.whitehavencapital.com/ to learn about investments worth making!LEAVE A 5-STAR REVIEW by clicking this link.WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInSupport the show (https://www.buymeacoffee.com/weissadvice)
Frequent Bigger Pockets guest and Real Estate Superstar, Ben Leybovich, joins the hosts of the Old Fashioned Real Estate Show for an extremely entertaining and not always suitable for children episode. You will learn why Ben invests in lower cap rate properties in Arizona and why he left the mid west to pursue his strategy. To Find out more about Ben Check out his website https://www.whitehavencapital.com/ We are currently offering a free cost segregation benefit analysis. For more info see the episode we did on cost segregations https://youtu.be/nOnYBIAYOC0 Ready to get started with your free cost segregation benefit analysis https://www.thecostsegguy.com/oldfashionedrealestatehome For more information about us check out our website http://www.oldfashionedrealestate.com We also have amazing gear available in our online store on that site. For more information about Jeff check out http://www.jeffreyholst.com FTC LEGAL DISCLAIMER Some links found in the description box of our podcast may be affiliate links, meaning we will make commission on the sales you make through these links. This is at no extra cost to you to use my links and or codes, it's just one more way to support us and our channel.
Ben Leybovich: Multifamily Real Estate and Chasing a Better Version of Ourselves
Bulls, Bears, and Bourbon
Ben Leybovich, a Principal of both WhiteHaven Capital and WhiteHaven Construction, brings his unique perspectives to the show. He shares his “why” and explains his unanticipated entrance to real estate investing. At WhiteHaven, Ben oversees new acquisitions, asset management, and investor relations. He’s been investing in multifamily real estate since 2006 and maintains a private portfolio outside WhiteHaven. He’s also a published author and prolific blogger. In this episode, while sipping some bourbon, we discuss personal evolution leading to business growth, why Ben chose real estate investing, chasing a better version of yourself, and much more. [01:12] – Introducing Ben Leybovich[07:00] – Tasting: WL Weller 12 Year [10:50] – the impact of an unexpected medical diagnosis[19:04] – real estate: the whole thing made sense [22:53] – the beginning of a real estate business[26:30] – An Epic Rant from Ben! [32:40] – growth and plateau – personal and business growth [40:30] – chasing a better version of ourselves[55:47] – The delta and risk-adjusted return[1:04:52] – wealth: “I can’t back down.”Links:www.bullsbearsandbourbon.comwww.vermillionprivatewealth.comhttps://www.whitehavencapital.com/https://justaskbenwhy.com/ **The information in this podcast is educational and general in nature and does not take into consideration the listener's personal circumstances. Therefore, it is not intended to be a substitute for specific, individualized financial, legal, or tax advice. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional before making a final decision. Thanks for listening.
Best Practices for Successful Syndications with Ben Leybovich
Just Start Real Estate with Mike Simmons
For this episode, I welcome Ben Leybovich. Ben is an author, business owner, real estate investor, popular podcast host, and featured writer on the BiggerPockets Blog. He was professionally trained as a classical violinist but a diagnosis of Multiple Sclerosis (MS) in college spelled the end of his dream of becoming a professional musician. Today, he is managing partner of WhiteHaven Capital, a private equity investment firm specializing in the acquisition and repositioning of underperforming multifamily assets in high-growth markets. In the past 7 years, he has managed to assemble a $1.5M personal real estate portfolio with 28 doors, generating over $165K of annual rent revenue with an annual cash flow of around $40K. We start today’s episode with Ben’s background story. Around 2013, Ben grew his portfolio in Ohio and he got to a place where he realized that he could continue doing what he was doing and be somewhat successful, achieve financial independence, and a passive cash flow. But, he reached what he refers to as an inflection point. He wasn’t growing, he wasn't getting smarter or better. He realized that he needed to raise capital, he needed to attract equity, he needed to buy big deals, syndicate big deals. But he didn't want to do that in the Midwest, because he understood the Midwest very well and knew that it wasn’t a growth market. So, he decided to move to Phoenix with his family. He bought a house there and rented it out on Airbnb, but his plan was always to syndicate. We then moved on to discussing how Ben got the knowledge he needed to tackle syndication. He shares with us that he was always blessed with people in his life who would, not necessarily give him all the answers, but shine the light on the important stuff to point him in the right direction to figure things out. This was true before he bought his first duplex and this was also true before he bought his first 100 unit community. Ben then goes on to share his strategy for syndicating a building, how to navigate this dynamic area and all the challenges that come with it. His strategy is all about doing more, not less, and he explains how this acts as his safety trigger. If you spend less money and ten other people spend less money when there's a downturn, you are racing everybody to the bottom and you have exactly the same product that everybody else has. There's no daylight between the product you're offering to the marketplace and the product everybody else is offering to the marketplace. So, you are taking on a lot of risks, but you are also reaping a lot of rewards for it. We discuss Ben’s strategy for finding potential syndication properties in Phoenix. These types of deals are extraordinarily hard to come by and most of it comes to Ben off-market through brokers. He also shares what are some of the things that he looks for in a deal that a broker brings to him, to determine whether or not it's something he is interested in pursuing and moving to the next step. These include location, vintage, type of mechanical setup, unit mix, and unit size. We then move on to the topic of financing these multimillion-dollar deals. Here, Ben explains that it is all done through private placements and through private networks, without advertisement. Ben has been in the real estate business for some time, and he is a known commodity, and he got there by realizing that the best way to be known is to be helpful. This is the reason why he wrote his book, created his course, and started his podcast; he wanted to create content that is real, actionable, and helpful. Lastly, Ben shares why he doesn’t care how the COVID pandemic will affect his business in the next 18-24 months. There are few reasons for this - first, all of his projects are capitalized; second, he is prepared to hold for a decade if he needs to; and third, if times are good, he is selling and making a bunch of money and if times are bad, he is buying at a discount and making a bunch of money. He explains that his business operates on both defense and offense and what that actually means in the real estate world. Don’t miss this episode of the Just Start Real Estate Podcast that is filled with honest, real, and actionable content from syndicator, Ben Leybovich! Notable Quotes: “In a man’s life, there comes a point, and if you look at successful people this happens several times, let's call them an inflection point, where you look at yourself in the mirror and you realize that the cup that was you yesterday, that's overflowing now. There's nothing more that is going in that cup, and now it's spilling over, And you may not know exactly what you are today but you do know that you're not the same thing you were yesterday.” Ben Leybovich “For me, it was just all about education, it's all about feeling that the intellectual worth is taking the next step and the next step and the next step because the money always follows.” Ben Leybovich “We just sit there and we look at the marketplace, and we look at the asset, and we ask the question: Who can we pair this with, what kind of buyer profile, buyer avatar, will be interested in this. And every month, we go through his exercise.” Ben Leybovich “We underwrite everything presuming we have to stay in for ten years, but we're happy to get out in a year and a half if the right opportunity presents itself.” Ben Leybovich “Most people think it's safer to spend less money because the less you spend, the less you can lose. Yeah, but if you spend less money and ten other people spend less money, then when there's a downturn, you are racing everybody to the bottom and you have exactly the same sh*t that everybody else has.” Ben Leybovich “At every stage in the property cycle, it's a slightly different buyer profile that's interested in it.” Ben Leybovich “You're prepared to stay there for a long time if need be if you can't find an exit. But in order to find the exit, you need to be looking for that and you got to position the property for that and that's what we do. That's my job.” Ben Leybovich “Don't try to be anonymous in this industry. Don't think that you can operate under a rock and never talk about anything.” Mike Simmons “Somewhere down the line, I realized that being helpful is the best way to be known.” Ben Leybovich “If I want to know something, I bet you there's a bunch of people who want to know the same thing, about the same stuff, for the same reasons that I want to know about it.” Ben Leybovich “The whole premise that underlines everything in entrepreneurship is that you are filling a knowledge gap for someone. The more people you fill that knowledge gap for, the more pay off you're going to see in the end.” Ben Leybovich Links: WhiteHaven Capital Just Ask Ben on Facebook Just Ask Ben on Twitter Just Ask Ben on YouTube Just Ask Ben on Instagram Ben on LinkedIn 7 Figure Flipping Return on Investments Just Start Real Estate JSRE on Facebook Mike on Facebook Mike on Instagram Mike on LinkedIn Mike on Twitter Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
A Growth Mindset For Real Estate with Ben Leybovich
The House Hacking Podcast
Ben Leybovich has built a real estate empire for himself. From a small town in Ohio, he is now residing in Phoenix, Arizona. But these two very different markets have given him the ‘reps’ to become one of the most well known real estate investors in the digital space. For him, quality of life and quality of product are his largest beliefs when approaching real estate investing.He talks about the importance of perspective and mindset. He urges people to get out of the habit of installing limits, but rather creating value and blossoming.For the full show notes please visit https://fibyrei.com/S3E2To get a free copy of our House Hacking Guide Start Guide you can visit https://fibyrei.com/hhstart
Turning to Multifamily Real Estate to Provide for His Family After a Life-Changing Medical Diagnosis with Ben Leybovich
Threefold Real Estate Investing
Before ever starting his career as a professional musician, Ben was diagnosed with multiple sclerosis which made it unrealistic for him to continue on his life-long dream of becoming a professional musician. This devastating news caused Ben to reassess how he would provide for his family. After extensively researching his options, he settled on real estate investing. He quickly realized he needed to buy more units under one roof if he wanted to scale to the point of having the necessary cash flow to provide for his family's needs. He moved into small apartment buildings and grew a portfolio that not only provided for his family, but allowed him to move his family to Pheonix, AZ where they are living the life of their dreams and Ben is now pursuing large apartment complexes. Quote from Bed: “The truth is you need both. You need cash flow to stay in the game, and you need equity to become rich.” Contact our Guest: Website: https://www.JustAskBenWhy.com, Email: email@example.com, Bigger Pockets: https://www.biggerpockets.com/users/JustAskBenWhy Connect with Lee: Website: threefoldrei.com, Email: firstname.lastname@example.org, Phone: 937-400-3044
#34 with Ben Leybovich: Scaling to 50 million in Acquisition and Always Focused on Personal Growth
Millennial Millionaire Real Estate Podcast
In this episode, Jonathan Farber interviews Ben Leybovich on his road from finding his first flip while driving for dollars to running a multi-state operation of over 50 million dollars. Ben is an investor and syndicator operating syndications and large apartment assets from Chandler, Arizona. In this episode, we delve into topics like: how to scale, the best way to add value to large multi-units, driving business during a pandemic, and more! Top Takeaways: What you need to know to scale - 28:08 - 32:42 Remember the lessons that you gain between buying duplexes to 10-unit properties They’ll guide you when jumping from 10-unit to 100-unit properties Experience begets confidence Best value adds for apartments - 37:31 - 44:39 The best time to renovate is in between tenants - in a large building every door will be empty at some point Do whatever is necessary to lift rents Get to a marketable condition first, then add amenities A comparative market analysis helps break down where funds are best used How to drive business in the time of coronavirus - 45:25 - 58:54 Take advantage of the changes being made by lenders and brokers Building safety into your underwriting lets you sleep easy More equity in reserves keeps you out of trouble if rents stop coming in Resources: Book by Ben Leybovich: House Hacking: The Only Real Estate Investing Strategy You Need to Build Wealth, Live for Free (or almost free), and Make Money Through Homeownership Social Links: biggerpockets.com/users/justaskbenwhy https://justaskbenwhy.com/ Connect With The host, Jonathan Farber Here! LinkedIn: https://www.linkedin.com/in/jonathanfarber1/ Instagram: @jonjfarb FaceBook: https://www.facebook.com/jonathan.farber.9 Facebook Group: Real Estate Mentorship Mastermind BiggerPockets: https://www.biggerpockets.com/users/JonathanF29 Schedule a 1 on 1 here: https://calendly.com/jonathan-farber/1-on-1-with-jonathan-farber-mmtr