Episode #791
Nate Shields and Troy Zimmerman had a straightforward goal: get to one hundred rental units in ten years. Now, near the halfway mark, Nate and Troy have made almost unbelievable progress in a real estate market most investors perceive as radioactive. With overpriced properties everywhere you look, out-of-whack cash flow, and high mortgage rates, will good deals ever come back? Thankfully for Nate and Troy, finding a deal was never the assignment; making a deal was.
After going through difficult partnerships in the past, Nate and Troy were hesitant to hop in the game together. But after years of getting to know each other’s strengths and weaknesses, it was only natural for them to tackle big deals together instead of small deals apart. Now, with forty rental units under their belt, they’re well on their way to hitting their hundred-unit goal. But this wouldn’t have worked out if they hadn’t made one special phone call.
In this episode, Nate and Troy will review their most recent acquisition, a fourteen-unit apartment complex with tricky financing in northwest Alabama. They’ll also share how calling one desperate listing agent unlocked a deal flow that brought dozens of units directly to them. If you’re struggling to invest in today’s demanding market and don’t think there are any deals worth the effort, this episode could change everything for you.
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Join BiggerPockets for FREE Your Investing Knowledge With the BiggerPockets Books:
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Find an Investor-Friendly Agent in Your
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Find Investor-Friendly Lenders: You an Agent? Work with Nate to Get More Leads!
nateshields@biggerpockets.com
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Partnerships: What to Do Before You Jump in With Another
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Connect with Nate:
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Instagram: @nate_shields or
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Connect with Troy:
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Twitter: @troygzimmerman or
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Show notes at:
00:00 Intro
02:05 Quick Tip
02:57 The Partner Trap
06:28 How to Find Perfect Partners (and Contractors!)
16:09 Finding the 14-Unit Apartment
31:06 Seller Financing and Funding the Deals
34:06 Who to Raise Money From
38:13 Closing On the Deal
39:56 Connect with Nate and Troy!
Recommended Reading >> bit.ly/32kRpzw
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