#37: Selling His Cattle and Building a Syndication Business with $45M AUM (In his 20s!) with Levi Allen

This episode with Levi Allen is a fun one - we discuss how he grew up on a farm and transitioned into the real estate business. There is a lot of great content in this episode about raising capital, pitching investors, and building deal flow with brokers. Levi is crushing it in the multifamily sector - give this episode a listen!

Levi grew up in Eastern Oregon on a Potato Farm and Cattle ranch. His parents still own and run Allen Farms and Allen Ranches, consisting of over 15,000 acres. After falling in love with real estate and third-party management Levi’s eyes were opened to scalability and working with partners and investors. He sold his cows and bought an 8-unit apartment community. From that day he was hooked on the business. Levi sold the rest of his land to buy 10 units in Utah and as of 2019, he now controls a portfolio worth over $35 million.

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Show Notes:

3:00 Levi shares his background growing up on a farm and how he wanted to branch off, selling his cattle. We also learn how Levi learned about real estate. 

6:23 We discuss Levi’s first deal, how he financed it, and how he subsequently took down a ten-unit deal, which eventually led to syndication.

10:20 Levi shares why he went straight into an 8-unit deal, rather than starting smaller. 

12:50 We learn about Levi’s first large 100+ unit deal.

16:14 Levi discusses how raising money is a “win-win” situation

19:50 We learn how Levi is finding investors who are flexible and want their money invested for multiple years. 

23:10 Levi shares how he split the workload with his partner to achieve maximum efficiency.

26:25 We learn how Levi built deal flow with brokers and overcame the competitiveness of the market. 

34:00 Levi gives tips on how to start acquiring larger deals and how you should let investors know how you are helping them. 

37:56 We discuss Levi’s biggest business-related failure and how he overcame it. 

39:40 Levi shares his short-term goals. 

41:30 We discuss why Levi would have joined a mastermind program if he started his business again.

Best quotes:

“Raising capital is a win-win, everybody should benefit from the acquisition.”

“People should invest their money so the bank doesn’t use it to their advantage in a savings account. 

“Don’t chase money… let it chase you.”

CONNECT WITH LEVI:

https://www.linkedin.com/in/levi-allen-607ba5155/

http://wealthcreationmgmt.com/

Connect with Axel:

Follow him on Instagram

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