My First Million #8 - Real Estate: How The Wassermans Do What They Do
44 snips
Aug 14, 2019 
Keith and Gelena Wasserman are a dynamic husband-and-wife real estate duo who turned a $5,000 loan into a $1.3 billion portfolio. They share their compelling journey through strategic investments in multifamily properties, highlighting how they identify undervalued assets. Listeners hear tales of persistence during the 2008 recession and the importance of mentorship. They also discuss innovative housing solutions and the balance between real estate and startup mindsets, offering valuable insights for aspiring investors.
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Low Point Story
- Galena Wasserman recalls Keith coming home defeated, unsure of his next move.
- His partner, Damien, was ready to quit real estate due to financial struggles.
Profit Sharing Structure
- Implement a preferred rate of return for investors, typically around 7%.
- Split any profits above the preferred return with investors to align interests.
Starting in Real Estate
- Start with smaller properties like fourplexes to gain experience.
- Utilize FHA loans for lower down payments when starting out.
