Here are some notes from the field from our Commercial Real Estate Investor Training in Dallas, Texas that took place last week…
This follows up on Day 1… Day 2 of our three days together with Jayme Kahla’s Commercial Inner Circle started out with a bang! Our three-day goal was to find, analyze, present an LOI (letter of intent), and figure out an exit strategy for at least one Dallas, TX piece of multi-family real estate!
And just how would we accomplish this? Through leverage – that is, we would leverage our efforts using other members of the Inner Circle as well as real estate professionals with whom we came in contact.
All three mentors have different ways of finding good deals on multi-unit properties. And of course, we involved the students as well. Here’s how we did it:
Scott Carson’s activities:
1. Posted Various Craigslist ads
2. Contacted local hard-money lenders through REI clubs in Texas
3. Contacted commercial brokers through ActiveRain.
Jason Schubert’s activities:
1. Posted Craigslist Ad, “I Need To Buy An Apartment Building”
2. Contacted Property Managers through Google
Lorena Gerlach’s activities:
1. Sent out MeetUp.com email blasts to multiple local area groups
2. Contacted commercial listing agents for any pocket listings
3. Reviewed MLS properties
You will be amazed how quickly you can reach hundreds of investors through these three simple techniques, and our response was great! You can come to our Website at RealEstateProfitCoach.com and find these ads – they’re free to you so that you can duplicate our efforts for yourself!
It’s amazing how easy it was to locate multi-family apartments in Dallas, TX. All of our activity on the 2nd day of Jayme’s Commercial Inner Circle meeting generated…are you read for this(?)…16 properties to review.
Oh, and to make the deals even better, Jayme personally brought to the group a Florida boutique hotel in South Beach (the Hotel Leslie) and a Dallas, TX, multi family apartment unit.
Our next step was to evaluate the deals to determine which ones were credible and deserved further due diligence, but we saved that for Day 3.
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