Creative Capital Podcast 124: Multifamily Millions On Your First Deal with Tory Sheffer

Dec 18, 2021

Tory is responsible for all aspects of real estate acquisition & management. This includes underwriting, structuring equity, raising capital & asset management. His work involves managing the transaction process from inception to execution, as well as continuous asset management through the life of the asset. 

 

Tory has been in the real estate industry 6+ years as a broker and principal investor in 100+ transactions totaling $70M+. Tory is also an investor in Real Estate Lab which is a real estate software company focused on analysis and data related to multifamily investing. Prior to real estate Tory owned & operated Superior Recreation Services, a company building commercial playgrounds throughout Michigan & Ohio.

 

Welcome to another episode of the Creative Capital Podcast. In this highly motivational yet educational episode, I speak with my guest, Tory Sheffer about how he closed on over 200 units on his very first multifamily deal and all the lessons that come with it. 

[00:01 - 12:13] Who is Tory Sheffer?

• An overview of the episode
• Welcoming Tory to the show
• Tory shares his background and how he started in Real Estate 
• Tory’s first multifamily deal 

[12:14 - 18:19] Lessons Learned in Tory’s First 200-Unit Multifamily Deal 

• Negotiating for the deal
• The power of strategic relationships and networking 
• Tory’s current profile 
• The current Pro forma on Tony’s first deal 

[18:20 - 35:25] Getting Traction in the Multifamily Market 

• How to source deals 
• Standing out in direct seller marketing campaigns for multifamily buyers
• When to hire a team 
•  Underwriting for deals and how to determine if an opportunity is worth pursuing 
• The future of Sheffer Capital 

[35:26 - 39:01] The Pod Decks Segment

• Do you think the Gamestop stock situation was truly a grassroots movement or was it orchestrated by Wall Street elites?
• Why do you think people create/join cults?

[39:02 - 45:44] The Core Four

• What is your favorite real estate-related book?
• • Am I Being Too Subtle? by Sam Zell
•  What do you think your unique skill is that helped you become successful?
• • Personability and Likability  
• Tell me something that's true about real estate that almost nobody agrees with you on
• • Class A at low cap rates right now is a good investment
• What one piece of advice would you give the listeners wanting to succeed in real estate investing?
• • Shoot and aim 
• Connect with Tory 
• A summary of the episode
• Closing words

Key Quotes: 

 

“I don't really know how I stand out, I just put it very straight to the point …  I think it's just a matter of being in front of them at the right place and right time.” -  Tory Sheffer

 

“I would say the biggest thing is to shoot and then aim. Find something that you are interested in and then just start trying to do it. And figure it out along the way, rather than getting buried in analysis paralysis.” -  Tory Sheffer 

Connect with Tory

LinkedIn: https://www.linkedin.com/in/torysheffer/ 

Instagram: https://www.instagram.com/torysheffer/

Twitter: https://twitter.com/ToryJSheffer 

You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube 

 

You can also email me at [e-mail] 

For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com

 

SUBSCRIBE to this podcast for more episodes on how to create your own future through smart and lucrative investments. 

LEAVE A 5-STAR REVIEW and share this podcast with someone you know who wants to experience massive growth and success in their business.  

Listen to our previous episodes here