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
00:00
Introduction
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?
Quotables
“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.”
Links
Website: RCN Capital
https://www.rcncapital.com/podcast
Website: REI INK
Website: Ez REI Closings