How do I take massive action in this niche?

[Louis Sutton]

 Hey guys,

      I'm currently in the military and I'm far away from the mainland(Guam). I'll be returning this Summer and Commercial really seems like the niche of choice. I like the economies of scale, and it seems as though it's more passive having one property with multi-units then vice-versa.

       But anyway, to get to the point, I'm looking at MHPs and Apartment complexes. I look at LoopNet daily, but I haven't called a broker yet. I guess I fear they'll hang up on a guy 7,000 miles away with no capital or experience. Horrible attitude I know lol, but I'm working on that.

What did you guys do to get started?

Thanks in advance,

Louis  

[David Thompson]

Hi Louis,

Thanks for your service to start and I'm sure you are excited to get back stateside !  Massive action is pretty general but let me give it a shot.  If you are targeting the MF apt niche, first of all realize it is extremely competitive right now and getting the right mentoring / coaching and aligning with folks doing the business in a big way would be paramount for me.  It's not a time where rising tide lifts all boats so to speak. I'll outline some strategies here:

1) Education

- Books - read the best books on the subject but also these books (Deep Work; and Essentialism).  The latter will maximize your focus away from shallow work, busy work and move yourself to more thought provoking sessions to drive your strategy/biz plan.

- Listen to Podcast interviews (BP, other) on MF

- Read and participate in BP Apt forums

- Attend Conferences - any MF Apt conference or syndication to get exposure / network

2) Networking

- Attend local MF meetup groups and get to know the players that are doing what you want to be doing.  See if you can help in anyway for free.  Your goal is to learn from experts period.  

3) MF syndication deals - Go to crowdfunding sites and just start pulling down every MF deal you see and study it.  What makes it a good deal (focus on market / deal and team) or not ?  You can do same at some commercial broker sites like Berkadia.

4) Mentoring / Coaching - Seek out a coach is my preference. I would rather pay someone to hold me and them accountable for structure that have a good program, you can do 1x1 time w/them and they are doing big deals (active).  You, like me, may be able to ask them how you can help them.  The number one best way to maximize your success and go big fast is to hook up w/credible/experienced operators and help them be successful.  Finding deals or raising capital are probably the best ways to work with them but meet them where you can add value.

I wrote a book on one of these ideas at my website under thought leadership.  Something that might give you some ideas.  Think big my friend, study, network and work hard..if you persist long enough w/the right attitude you'll find success.