Real Estate Underground From Pushing Tin to 345 Units: Shawn DeMartile's Multifamily Real Estate Adventure
What happens when you trade a high-stress career in air traffic control for the unpredictable world of real estate investing? Sean Demartel from Takeoff Capital shares his compelling journey with us, revealing how a quest for a different lifestyle led him to multifamily real estate investing. Sean candidly recounts the bold move of teaming up with two colleagues to pool their resources—even liquidating their 401ks—to purchase their first 32-unit apartment complex. Through calculated risks and a keen eye on balancing potential losses with potential gains, Sean and his team have successfully amassed 345 multifamily units. Listen to Sean’s story of courage and determination, and gain insights into the art of assessing risk while chasing your dreams.
In this episode, we unravel the complexities of raising capital and the art of reinvesting success in the real estate market. We discuss the pivotal role of high occupancy rates and how transitioning from marketing to mathematical analysis can make or break a property deal. Sean draws from a real-life example to illustrate the hurdles of securing additional financing for renovation projects and stresses the importance of transparency and trust-building with investors. It's a reminder that success in this field isn't just about numbers; it’s also about nurturing relationships and maintaining open communication.
Discover the pivotal strategies and mentorship that have guided Sean through the real estate landscape. From setting up tenancy in common to mastering prudent underwriting practices, Sean shares invaluable lessons learned from his journey. He underscores the importance of starting on the right foot to avoid IRS scrutiny and embraces continuous learning as a habit of successful business leaders. Connect with Sean through his personal and company websites to learn more about his ventures and gain further insights into his inspiring story.
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