All Forum Posts by: Account Closed

@Brian Burke @Will Barnard thanks for the thoughts.  This is one of those instances where I was pitched an idea, saw a bit of potential, but hadn't really done any further due diligence and after thinking it through briefly and getting some opinions, I came to the same conclusion.  I was initially intrigued because of all the agents I know.  I have many friends and connections frustrated with the home buying/selling experience and felt like there should be a better way and/or better brokerages out there.  But I suppose this is a long shot and with the low margins, it's unlikely as a passive investor I'll see much return.

I had the chance to invest in another new venture recently (star local chef's new place) that I passed on and I have been kicking myself over that one.  But I suppose if that was the one out of 10 that hit, I'd better be very careful about my next nine.

I like the Vegas idea.  Or maybe I'll go ahead and buy that triathlon bike I've been eyeing for my race next month :)

This is why I like this forum. It's an opportunity to present an idea and get immediate feedback. Thank you to everyone for your comments. It seems only Joel Owens agrees with me about the future of apartments, but that's a separate discussion. And don't worry Ben Leybovich I'm not putting my life savings into this venture. I was remotely considering putting in a few speculative dollars to see what happens.

@Jesse T. the brokerage would be the main business.

@Peter John K I love the "Uber for Lawn Care" idea.  I'd pay for that every week!

I'm a member of the National Multi Housing Council and trust me the top committee members are in Washington lobbying against the repeal on an almost daily basis.

@Christopher Brainard

 thanks for your thoughts!!

@Johann Kleisch

 Thanks for your comments. Large multifamily is the place to be...right now.  These guys are thinking ahead to where future opportunities are.  It won't be the place to be forever.  My personal belief is that once marriage and kids come along, a portion of this large demographic will be looking for more space.  Pretty tough to raise kids in a 750sf apartment downtown.

And I respect Grant Cardone and he is a great motivator.  He is doing some solid work in multifamily, but please keep in mind he's only been in the multifamily game a short while. 

@Joel Owens

 @Will Barnard

@Joe Fairless

sorry guys, tagged you as well but they didn't come through for some reason.

I've been approached about the possibility of investing in a real estate start up.  It is being founded by two multifamily real estate executives who also dabble in residential real estate. 

They are planning to start a real estate brokerage focused on the millennial home buyer. They feel that market is still a few years away from really heating up, but they are both big believers that many of today's renters will be tomorrow's homeowners and the demographics point to a boom in home ownership in the coming years.  They are planning to hire millennial agents and train them to sell to their peers, along with creating a technology platform where the firms clients will have an app and access to information and be able to communicate with their agent via the app and track the progress of their purchase, due diligence, etc.  Essentially, taking today's outdated methods and while not totally recreating it, making it more user friendly for tomorrow's homeowners.  They plan to start in our local market and expand over time if successful.  Their branding will be focused on many of these buyers and sellers.

Both of the guys starting the company have been successful in real estate and I believe both have the intelligence and personalities to cater to this type of crowd.  I'm not going to get into the details of the deal at this point, but more curious to hear what people think of the general idea.

I work in multifamily and have been reading studies that upwards of 80% of current millenial renters aspire to be home owners in the next 5 years.  I understand the headwinds they face, but I also believe if that level of demand is there, if even a percentage of that large demographic moves into the for sale market it will have a large effect on the market.

@Brian Burke @J Scott @Ben Leybovich @Joel Owens @Will Barnard @Joe Fairless

@Steve Olafson @Brandon Turner

 @Karen Margrave@Lynn Currie

Ask him about how he became successful.  Successful people love to talk about how they made it.  Ask him what he would do if he was starting over at a young age.

Think about what you can do for him, not what he can do for you.

If this is your first meeting, DON'T SELL ANYTHING OR ASK FOR ANYTHING.  Your only goal should be to get to know each other and make a good impression.   

If the meeting goes well, tell him you really enjoyed hearing his story and would it be okay to stay in touch?  That's it.  

I agree with @Brian Burke!  And get him on the third time!

I was recently on @Joe Fairless podcast and had a blast. Hopefully the listeners found the information helpful.

I'm still sitting by the phone waiting on @Joshua Dorkin and @Brandon Turner to call :)