E172: How to Start a Multifamily Business From Scratch - Reed Goossens
So you want to start in real estate but don't know where to begin? I'm joined by Reed Goossens, a real estate entrepreneur from Australia, and we dive into how you can get started in building a prolific business from scratch. 👉👉 Join the MultiFamilyMBA and get exclusive free training: https://theinvestormindset.com/mfmba
One of the biggest benefits of investing is commercial multifamily is economies of scale. However, this can be very tough if you don't have the right people, processes and systems in place though. We talk about this and how Reed came from Australia as an expat and grew a successful real estate business from scratch here in the US. For anyone wanting to start a real estate business this episode is a must for you.
In 2012, Reed quit his job in Australia and moved halfway across the globe to the US to change his life, and to chase a dream. With limited funds, no investing experience, and no credit, Reed went from purchasing a small duplex to growing his own real estate investing firm, Wildhorn Capital. Reed now syndicates large multi-million dollar deals across the US. He has also achieved financial freedom, and has taken control of life.
Reed is also the host of the successful podcast, Investing in the U.S., wherein he invites other distinguished real estate investors and entrepreneurs to speak with him about their success and help guide other investors who want to successfully invest in the U.S.! Reed is also a best-selling author with two books now on Amazon: Investing in the US – The Ultimate Guide to US Real Estate, & 10,000 Miles to the American Dream.
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1. If you focus on why you could fail... it's easy to then create excuses and reasons why NOT to take action.
2. Figure out what your step by step plan is from the beginning.
3. Find a mentor and work on yourself and your own brand because investors are going to invest in YOU as a person.
4. Be patient and realize that success is a process and journey that takes time. Being impatient can easily lead to failure.
5. Find a partner to work with who has experience already and offer them one of your skills or unique abilities that they don't necessarily have so you can be the strength in the area of their weakness.
6. Realise that you may need to let go of some control when your business scales up.
7. As a leader make sure that you have the right team in place and that they manage the business like it's their own.
The Passive Investing Playbook - https://theinvestormindset.com/passive
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