Overcoming Challenges as a Newcomer to Real Estate Investing - Multifamily Broker Talks

Join Peter St. Martin and Edward Shamirian in another exciting episode of Multifamily Broker Talks! This time, we're diving deep into the world of real estate investing, exploring the challenges of newcomers to the industry and the steps necessary to start your journey in multifamily real estate.

The speakers stressed the importance of understanding underwriting, fostering credibility, and the value of having a solid grasp on numbers when presenting investment opportunities. They also share the benefits of observing and learning from others, while also encouraging the development of a unique, individual approach.

This talk shines a light on the essentiality of credibility in real estate investing, discussing how experience and track record can greatly influence your ability to raise capital. Learn why building strong relationships with brokers is paramount for long-term success and how platforms like CREXi and LoopNet can be used effectively to identify potential properties and engage with sellers.

Tune in to learn how to connect with brokers for potential deals, build rapport, and ask the right questions. The speaker also discusses the importance of thorough initial research on a property but cautions against spending too much time on analysis upfront.

In the interactive segment, experience a role-play scenario exploring a specific property in Atlanta, with the speaker advising on various aspects, from seller's motivations to financing options.

Key takeaways from this episode include:

The importance of taking consistent action in real estate investing

The power of personalizing and adding your own touch to your work

The necessity of gaining confidence and being prepared for questions

The value of using tools like a broker script and organizing information on a spreadsheet

The significance of understanding offering memorandums

The need for making calls and building rapport with brokers

The idea of gaining practical experience in speaking to brokers

Watch as we walk through the CREXi website, emphasize the importance of rehearsing presentations, and discuss the significance of asking the right questions.

Whether you're an aspiring broker, an experienced investor, or just someone interested in the world of real estate, this episode has something for you.

Intro 0:00
01:36 - Reference to a previous training assignment called the seven market comparison analysis.
13:38 - A participant shares their efforts to be more visible and announces a demo of a platform called Bright Investors.
16:48 - The speaker shares their experience of spending the first year doing underwritings and wanting to do more with the group.
18:19 - The invitation to work together and help each other in the underwriting process.
18:30 - The speaker encourages collaboration and asks participants to share their goals and how they can be helped.
31:26 - The speaker advises participants to find out what questions brokers may ask and suggests using a broker script.
32:04 - Instructions on how to obtain the broker script by emailing the speaker.
32:26 - A mention of asking brokers about the story behind a property.
33:55 - A participant discusses their method of using the CREXi website for market research.
38:51 - The suggestion to start conversations about a property by asking questions.
48:34 - The speaker opens the floor for specific questions.
53:08 - Introduction of a broker script for reference.