Multifamily Legacy Podcast 051: Beat Commercial Brokers to the Punch
Stop what you’re doing because I have a big announcement! Would you like to help some kids, including my son, experience a once-in-a-lifetime opportunity? Kim Green, business manager for a youth football team, is doing a fundraiser to generate money to send these kids, along with their coaches and chaperones, to Florida to play in the Tackle Football National Championship.
Now, let’s get down to business. Today, my guest is Sterling White, who has produced an abundant amount of content focused on the multifamily industry. He remains consistent, even when someone “kicks him in the mouth” because they’re not ready to sell!
Topics on Today’s Episode:
- Find deals by going off market and through direct sellers/decision makers
- Commercial brokers are doing the same work; just beat them to the punch
- Difficult to get accurate and complete financials; figure out income/expenses
- Outsource work and tasks; find freelancers/contractors via Upwork
- Direct mail and small gifts serve as a follow-up mechanism to engage decision makers; Sterling may send them a Rubik’s Cube and say, “Let’s figure this out.”
- Easy Button: Sell for more money through concise financials and deferring
- Even if owners are ready to sell, it can be difficult to get under contract with them
- Provide value and education as part of follow-up process
- Sterling’s tool, Syndication Pro, helps you facilitate and raise private money
- Make it simple for investors to access data; professionalism leads to more money
Links and Resources Mentioned:
Quotes:
“The biggest obstacle is getting through the gatekeeper, which often times is the property management company.” Sterling White
“I’ll actually send a Rubik’s Cube, and it will say, ‘Hey, let’s figure this out’.” Sterling White
“You want brokers to know you, like you, trust you, and become your friend.” Corey Peterson
“In the age of raising capital, it’s all about perception. Perception is reality.” Corey Peterson
Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.
Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.