Ep. 118: First Deal 2 Units, Second Deal 144 Units with Ellis Hammond

Multifamily Insights

English - September 03, 2019 14:48 - 41 minutes - 38.3 MB - ★★★★★ - 207 ratings
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Previous Episode: Ep 117: From NFL Player to Multifamily Investor with Hakeem Valles

Next Episode: Ep. 119: Investing in Note Funds with Dave Van Horn

Ellis Hammond started with a duplex before jumping into a 144-unit apartment syndication. He now manages a private network of investors that focus on acquiring multifamily commercial real estate. He began syndicating real estate projects in 2018 with the goal of helping his friends and colleagues build wealth outside of Wall Street. On this episode, he shares how he was able to transition from his first duplex to the 144 unit deal, key questions investors should ask when exploring investment opportunities and tips to use LinkedIn to grow your investor base.

Partner: Download a Free Sample Apartment Deal Package

Key Insights

Wanted a different investment strategy from mutual funds Acquired first duplex in Jan 2018, 144 units was his first syndication then 45 units "You have to do what you are best at" What is your unique superpower? How do you leverage it? Raising money is Ellis’s superpower If you change your thinking, you can change your life Top two aspects of a deal are the lead operator and second the market 111 questions to ask a sponsor If I were to run a background check is there anything that would come up? Communication expectations? Financial Search – MyChicagoTitle Started being active on LinkedIn, posting good content It’s a billboard for you and your brand Business owners, CEOs, founders of companies Best way to engage is through interacting with other people’s content Create good content, interact with other people’s content Commenting on people’s content – example search #tech and engage with posters The LinkedIn “About Me” section should tell others how you can help them Ask yourself, “who do I want to read this and what do I want them to think?” Good content: Video, how to videos, ask a question (here’s what I do, what do you do?)

Partner: Check out the Northstar Real Estate Conference on Sept. 21 and 22

Bull’s Eye Tips:

Winning Your Market: Be consistent and providing value

Tracking Market Changes: Partnering with others who know the area

Daily Habit: 5:15 am wake up, phone is on do not disturb until 8 am

Resources:

Best Business Books:

Never Split the Difference by Chris Voss

Mindset: The New Psychology of Success by Carol S. Dweck

Digital Resources:

Calendly

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