#120 with Sterling Anderson: How to Scale from Wholesaling Single Family Properties to Syndicating Hundred Unit Multifamily Properties

Millennial Millionaire Real Estate Podcast

English - November 19, 2020 20:52 - 42 minutes - 78.8 MB - ★★★★★ - 56 ratings
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Previous Episode: #119 with Shelby Osborne: Scaling to 55 Doors and Closing Nearly 350 Deals

Next Episode: #121 with Brian Briscoe: Proud Marine Corp to Completing Five Out of State Syndications

In this episode, Jonathan Farber interviews Sterling Anderson on his journey from wholesaling single family properties to syndicating multi-hundred-unit multifamily properties. Sterling is a syndicator and flipper based in Omaha, Nebraska. In this episode, we get into topics like: choosing between flipping and wholesaling, building a deal flow through marketing, getting started with multifamily, and more!

Top Takeaways:

Flipping vs. Wholesaling - 8:30 - 9:30

With the benefit of hindsight, wholesaling multifamily probably would have been a great start
Wholesaling is a good way to start making money, plus it gives you a ton of industry experience
Flipping provides very useful development experience, but can be one huge headache

Starting a marketing campaign for deal flow - 10:15 - 11:15

Tell everyone what you’re doing - social media is free and it can generate huge traffic
Driving for dollars doesn’t require any expensive apps - take your notepad and a pen
You can handwrite mailers to properties from skip tracing or the county assessor

Putting together a multifamily starter kit - 15:15 - 16:15

Relationships with brokers are a reliable way to find deals, so nurture those
Many of your same investors from when you were doing single family will want to scale with you
Even if those investors can’t fund the whole deal, they can vouch for you to new partners

How to bring value to Sterling Anderson:

Looking for equity investors for syndications

Resources:

fastpeoplesearch.com

propstream.com

Book by Michael Blank: Financial Freedom with Real Estate Investing

themichaelblank.com/syndicated-deal-analyzer

Social Links:

biggerpockets.com/users/SimpleKeyHomes

sterlingcapitalomaha.com

linkedin.com/in/sterlingvision

@realestatesterling