Apr 19, 2018
Many people get into real estate because they need to make money quickly. The power of real estate is that it can make a tremendous difference. It provides an avenue for people to get a return on their investment.
Today, my guest is Randy Lawrence, who drops some truth bombs about multifamily investing. Randy has been in real estate for about 15 years and has structured his business around his belief and faith in God.
Topics on Today’s Episode:
- Money available that becomes a source of capital
- What provides a stream of income
- Multifamily real estate is fixed security of the real asset
- Single-family vs. multifamily opportunities and limitations
- People need help to know where to invest their money
- How to raise capital by presenting an opportunity for someone to get a return
- Friends and Family: It’s about who they know with money
- Establish relationships; focus on multifamily real estate to scale, build, and grow
- Randy’s business recently went through a tenant profile improvement process; develop new procedures, policies, and improvements
- Be strategic and have a plan; learn from someone with experience
- Generate a better quality of life for tenants; investors’ lives are changed because of the return they receive
- Create a culture that sets the tone for your staff
- Engage in the process; focus on helping people rather than making money
- Where to Find Money: Go to a charity you believe in; it happens naturally
- Take on a leadership role to serve and help others
- It’s not about the money; to be in business, you’ve got to make money by delivering value
- Find deals through networking and making connections
- Quality teams and partnerships to be successful; it’s all about relationships
- Randy’s goal is to close three, C-class complexes per year for the next five years
- Randy wants to develop a legacy business and empower investors
- Easy money isn’t the best for the long haul; practice discipline and perseverance
- Focus on what you know and what you gain from; you don’t need to be sexy to be successful
- Learn how multifamily can fit into your strategy; develop the right relationships
Links and Resources Mentioned:
- Randy Lawrence
- The Real Estate Preacher
- Kahuna CashFlow Calculator
- How to Win Friends and Influence People
- The ONE Thing by Gary Keller
Quotes:
“Realistically, looking at the power of what real estate can do...the real estate market, in done properly...really can make a tremendous difference.” Randy Lawrence
“There is so much money out there...and they call it cashflow for a reason. It flows out of the people that can’t handle it...and flows into people that can.” Corey Peterson
“Here’s the opportunity that we have...that’s fishing. You throw out some bait, and the right people are attracted to your bait.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.