How Mentors Will Help You To Build Your Empire

So we started Integrity Properties, which is our wholesale fix and flip business. 2011 we did one wholesale deal in 2011, then we started to go into 2012 hurricane Sandy decimated the Jersey shore, which is where we were at. So that kind of put pause button on everything for about six months. And then from 2012 to 2016, we grew as much as Travis and I could. So Travis is our heart and my business partner and over a five year period of time, we just could not do more than what we did in 2016, which was 16 deals and about a quarter million dollars in revenue, it was just the two of us. So we found some guys that were doing bigger scale, more wholesaling, more flipping, we got around those guys. They taught us a lot, really grateful for them, they gave us the blueprint on how to scale. So we did over $1 million in the next year in 2017.

This year we're on track to do 175 deals. But it's a lot of work and we used to do our wholesaling business too and you know, we, we like it. So we have a COO on boarded now that is really taken over the day to day, but the goal has always been how do we move into passive income? And we started thinking, so let's do some single family rentals. Well, it costs per door in New Jersey and cap rates in New Jersey, it's really priced prohibited. So we started looking outside of the area, maybe Mobile, Alabama, maybe the Southeast, maybe the Midwest, how are we going to manage single family rentals in those areas and all the litany of problems that comes with single to four family rentals.

So we started listening to podcasts, which is how we kind of scaled up our wholesale business and we listened to a couple of the big guys and they're all teaching very similar things, great information on how to underwrite deals, find deals, things like that. We started taking some courses, started listening to some calculators and putting that LOI as out. And you know, nobody cares that you're going to do 175 flips, you want to know how many assets under management you have, so we kept getting our teeth kicked in a little bit, but it was good. It was good experience, good underwriting, and figuring out how to manage these deals and talking to property managers and talking to other sponsors in the area, learning markets, so it was good in terms of how we were going to educate ourselves.

It was not good in terms of getting into deals and then we came across this podcast that it was a story that was similar to where we thought we wanted to go, which was wholesaling into multifamily and growing into that space and it was you and we listened to a couple of those podcasts and we called Corey Peterson up. We said, what do I do? It sounded like his story is close to ours and we want to know how to get in there and he heard me on a couple of other podcasts and writing some blogs and stuff. And we always refer to him, I always say our mentor gave us the best piece of advice that I think we ever got, which is the money's not in the deal. The money's in the money.

And he says that all the time and so we knew that we could bring a little bit of capital to a deal. So why not partner with experience sponsors that have deal flow? Because they're seeing deal flow. He is receiving the off market deal flow that we are not getting, we're seeing it after they pass on.

You need the corporal rovers, need some credibility, so how do you do that? You invest some of your own funds, raise some capital to deploy in some into an experience sponsors deals. So that's what we've done. So since November of 18 till May 29, we've closed on and now we’re actually just started pouring concrete today on our 1200 units, self-storage complex in Orlando. We didn't buy a single rental, not a single family and not a four family, not an 18-plex. We dove right into an 193,000 square foot build in Orlando and we raised and deployed $4 million into that deal and it's a $14 million total project cost and it looks like a $30 million exit.

If you have questions contact me on: https://integrityhg.com/contact