MB 192: Crush Limiting Beliefs & Be a Multifamily Syndicator – With Sterling White
Financial Freedom with Real Estate Investing
English - December 16, 2019 10:00 - 41 minutes - 38.9 MB - ★★★★★ - 464 ratingsInvesting Business Education business entrepreneur health entrepreneurship finance marketing lifestyle investing entrepreneurs interview Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Are limiting beliefs stopping you from becoming a multifamily investor? When Sterling White got his start in real estate, he was crashing in a friend’s den. He had no money in the bank and zero credit. But Sterling DID have a willingness to learn, and he understood that the best way to approach a potential mentor was to provide value.
Today, Sterling is a seasoned real estate investor and philanthropist based in Indianapolis. He got his start in 2009, building a portfolio of 150 SFH before transitioning to multifamily in 2017. To date, Sterling owns a total of 587 single- and multifamily units, and he is a frequent contributor to BiggerPockets. He also serves as the host of The Real Estate Experience podcast and author of From Zero to 400 Units: How I Found Another Path & Discovered Freedom Through Real Estate.
On this episode of Apartment Building Investing, Sterling joins me to explain how he got his start in real estate, working for a mentor (for free!) to find SFH buy-and-hold deals. He discusses his transition to multifamily, sharing his bold approach to finding off-market deals and the resources he uses to get in touch with property owners. Listen in for Sterling’s insight on providing value to attract investors and learn how to overcome the limiting beliefs that are keeping you from achieving financial freedom with multifamily investing!
Key TakeawaysSterling’s journey to real estate investing
Grew up in Section 8 housing with single mom Natural entrepreneur, figure things out on own Work for free with mentor to build SFH portfolio Shift to multifamily in 2017 (587 units total)How Sterling developed an interest in real estate
Work construction for college roommate’s dad Liked seeing transformation of distressed asset Learned that most successful owned portfolioHow Sterling provided value to his mentor early on
Hustle to find SFH deals Assist with digital marketingSterling’s first SFH investing deal
$25K property + $25K in renovations (financed by mentor) Responsible for everything else associated with transactionWhat inspired Sterling’s transition to multifamily
Economies of scale (multiple doors at one location) Ability to control own destiny, influence valueSterling’s first multifamily investing deal
46-unit seller financing deal ($200K down on $900K) Brought on SFH investors to raise $ for renovationsHow Sterling hustles to find new deals
Approach owner directly, pitch on cold call Strategic follow up (e.g.: birthday card)Sterling’s resources for finding owner contact info
CoStar, Reonomy and ListSource Skip trace or directory of business filingSterling’s advice on marketing to attract investors
Connect through BiggerPockets Appearances on podcastsThe evolution of how Sterling raises money for deals
Friends and family through fund for SFH Preferred return to start with multifamily Now straight equity (85% to LPs, 15% to GPs)The limiting...
Are limiting beliefs stopping you from becoming a multifamily investor? When Sterling White got his start in real estate, he was crashing in a friend’s den. He had no money in the bank and zero credit. But Sterling DID have a willingness to learn, and he understood that the best way to approach a potential mentor was to provide value.
Today, Sterling is a seasoned real estate investor and philanthropist based in Indianapolis. He got his start in 2009, building a portfolio of 150 SFH before transitioning to multifamily in 2017. To date, Sterling owns a total of 587 single- and multifamily units, and he is a frequent contributor to BiggerPockets. He also serves as the host of The Real Estate Experience podcast and author of From Zero to 400 Units: How I Found Another Path & Discovered Freedom Through Real Estate.
On this episode of Apartment Building Investing, Sterling joins me to explain how he got his start in real estate, working for a mentor (for free!) to find SFH buy-and-hold deals. He discusses his transition to multifamily, sharing his bold approach to finding off-market deals and the resources he uses to get in touch with property owners. Listen in for Sterling’s insight on providing value to attract investors and learn how to overcome the limiting beliefs that are keeping you from achieving financial freedom with multifamily investing!
Key TakeawaysSterling’s journey to real estate investing
Grew up in Section 8 housing with single mom Natural entrepreneur, figure things out on own Work for free with mentor to build SFH portfolio Shift to multifamily in 2017 (587 units total)How Sterling developed an interest in real estate
Work construction for college roommate’s dad Liked seeing transformation of distressed asset Learned that most successful owned portfolioHow Sterling provided value to his mentor early on
Hustle to find SFH deals Assist with digital marketingSterling’s first SFH investing deal
$25K property + $25K in renovations (financed by mentor) Responsible for everything else associated with transactionWhat inspired Sterling’s transition to multifamily
Economies of scale (multiple doors at one location) Ability to control own destiny, influence valueSterling’s first multifamily investing deal
46-unit seller financing deal ($200K down on $900K) Brought on SFH investors to raise $ for renovationsHow Sterling hustles to find new deals
Approach owner directly, pitch on cold call Strategic follow up (e.g.: birthday card)Sterling’s resources for finding owner contact info
CoStar, Reonomy and ListSource Skip trace or directory of business filingSterling’s advice on marketing to attract investors
Connect through BiggerPockets Appearances on podcastsThe evolution of how Sterling raises money for deals
Friends and family through fund for SFH Preferred return to start with multifamily Now straight equity (85% to LPs, 15% to GPs)The limiting beliefs that hold aspiring investors back
Need large amount of own capital Fear of failure OR successSterling’s insight on the value of time
Pay someone to do low-value activities Willing to spend extra to save timeConnect with Sterling White Resources
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