001: Buying Multifamily in Multiple Markets with Brie Schmidt
Welcome to the debut episode of the InvestFourMore podcast with Mark Ferguson. Through the episodes ahead youโre going to get a front-row seat to what itโs like to move into the real estate investing realm from square one from a man whoโs done it himself. Hang on, itโs going to be a wild ride as we unpack the successes and failures of what it takes to be successful in real estate investing.
In this first episode of the InvestFourMore podcast, Mark Ferguson chats with Brie Schmidt, a real estate investor who holds multiple multi-family properties in Chicago and Milwaukee and has been running a very busy and successful real estate investing business since 2011. Brie is an investor and a real estate agent who has learned how to leverage her real estate license and experience into purchasing multiple multi-family properties (59 units at this time).
One of Brieโs claims to fame is that she has purchased 21ย properties in less than four years, with the bulk of that happening in the past 9 months. Sheโs learned how to scale her business into a secondary market to ramp up her business exponentially. Thatโs where she learned how to leverage commercial financing from a large lending institution (U.S. Bank) to purchase multi-family properties with very little hassle. Mark spends a good deal of time at the beginning of the conversation unpacking how Brie went about building that relationship and making it profitable or purchasing more and more properties.
One of the most difficult parts of buying real estate on a large scale is the financing. Brie Schmidt has created a system in her business where sheโs able to close multiple properties at the same time and combine them into a portfolio loan with her lender so she is able to deal with her lenderโs requirement that the minimum loan be $200,000.00. That means sheโs purchasing multiple properties for $35,000 to $60,000 and lumping them into a portfolio, but having individual loans. Itโs a great trick youโll learn about in this episode.
In this episode Brie Schmidt shares another tactic that has made her business move forward in a powerful way by building great relationships with Realtors in her markets. Sheโs got relationships with realtors that work almost by themselves; the realtors understanding exactly what sheโs looking for in a property and calling her with specific scenarios and deals that they know sheโs going to be interested in considering. That enables her to spend her time looking at properties that she is pretty clear are going to be a good fit for her instead of wasting her time looking at many things that sheโd never want to buy.
This episode is packed with great tips on how to organize and leverage your investments for multi-family properties in multiple markets, so grab
Brieโs new websiteย www.Turnkey-Reviews.com
Contact Brie Schmidt on Twitter atย https://twitter.com/ChicagoBrie
Brieโs email:ย [email protected]
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