Jan 24, 2023
David Olds is the founder of Ez REI Closings, a real estate wholesale company based in Chattanooga, TN. He moved to Chattanooga in the middle of the crash in 2009 and built his business from the ground up, and he is on the show today to share his story.
Listen now to learn more about Ez REI Closings and the lessons David learned through the years as a real estate investor!
Key Talking Points of the Episode
00:45 Who is David Olds?
02:31 What is the story behind Ez REI Closings?
05:22 What does David think people should be focused on in today’s market?
07:06 How can wholesaling help you keep your business going?
10:47 Why did David decide to move to Chattanooga in 2009?
17:43 What are we currently experiencing in today’s market?
18:56 How are David’s customer-base at Ez REI Closings adapting to the market?
20:18 What is a novation and how can you do it today?
21:36 How much volume are investors doing in today’s market?
24:00 What is the challenge for wholesalers in this kind of market cycle?
28:41 What is David’s advice to young investors starting in the business?
31:21 Why is it important to build your portfolio through cash flow?
32:50 What makes single-family real estate the best asset class?
34:52 Why should people buy and hold their real estate?
36:02 How many closings does Ez REI Closings do a month?
36:31 What is the biggest challenge people face when trying to scale their business?
39:12 How important is it to hire someone to fill in your weaknesses?
43:20 What is David’s advice for real estate entrepreneurs?
45:50 How can you reach out to David?
“No matter what the market is, always be looking for opportunities to grab long-term cash flowing assets.”
“I think a lot of our customers are experiencing, what I heard at a conference the other day, a reversion. It’s not really a correction, it’s definitely not a crash, but it’s reverting back to normal.”
“Anybody that’s been around just a little bit and has a fully scaled-out business, they’re doubling down right now.”
“As soon as rates flatten and stabilize, it’s going to be a feeding frenzy. It’s going to be unbelievable.”
“I promise you, keep some of these properties. Get some financing, buy Sub-To, learn creative financing – whatever you have to do, but build that portfolio so you can get to the end faster.”
“It’s, in my opinion, the best investment vehicle in the world because it’s inflation indexed, it’s residual income, and it has an underlying asset.”
Website: RCN Capital
Website: REI INK
Website: Ez REI Closings