Thu, 20 November 2014
Joe Fairless's raised close to $1.5 million dollars in investor money on his first big real estate deal. He credits his success to hiring professional and experienced consultants and having a great team. On the show he shares some really good advice on how you can follow in the same footsteps. Joe Fairless has a fantastic podcast called Best Real Estate Investing Advice Ever and is certainly no rookie about this subject.
7:15 – When Joe found out he had to raise $1.3 million, he had to take a big mental leap.
10:00 – Joe talks about how you can be smart with paying off your loans by arranging a master lease.
13:25 – Joe wrote down a list of all the networks he was associated with and then he contacted the members in these groups and asked if they wanted to invest.
19:45 – Joe had to pitch half of his investors differently because they've never invested in real estate before.
23:15 – Developing the seller's trust comes with your credibility and the seller knew Joe's consultant very well and therefore trusted them on this deal.
28:45 – Joe explains there are three factors you need to learn in order to be successful at real estate - creativity, leverage, and relationships.
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