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All Forum Posts by: Victor Thompson

Victor Thompson has started 15 posts and replied 21 times.

Post: 😎 4 Mar 2021 REI Meetup 😎

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12
Looking forward to seeing you all Thursday, 4 March at 7:30 PM ET!
Meeting ID: meet.google.com/ksu-ovvm-pxa
(‪US‬) ‪+1 617-675-4444‬
PIN: ‪305 388 936 4108#‬

We will host a 40 minute zoom call focused on the specific challenges you are having as a Real Estate Investor. If you have any want more information about our meetups check out our website and if you have questions/Haves & Wants please post them on our FB page. Hope you can join us!

Topics

1) Talk through your specific REI Challenges. Make sure you bring us some problems!

2) Deals. Will breakdown one of our latest deals. How we found it to the planned exit and everything in-between!


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What Zero Gravity REI and our Meetup is all about:

  • Listen and help you overcome your deal and business challenges.
  • Simplify real estate and business concepts to make them easy for you to understand.
  • Engaging presentation and participation strongly suggested.
  • Make our engagements fun and inspire you to go do deals!
  • If you do not actively do deals, this group is not for you.

------
Zero Gravity REI our investor focused arm of the business dedicated to helping other REIs overcome their challenges by sharing our lessons learned, resources, and network. We believe that if you want to go far go together! Give us a follow on instagram @zerogravity_rei so we can engage with you further.

Post: Zero Gravity REI Meetup 7 Jan 2021

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

Zero Gravity REI Meetup 7 Jan 2021. By REIs, for REIs that want to get better at REI.

Post: A journey in raising Private Money?

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

Situation: 3 years ago, when we did our first fix n flip my partners and I supplied the down payment and seeing that we still had our corporate jobs we used bank financing to fund the rest of the deal and repair costs. Since then, we have moved on from banks to more real estate investor friendly lenders such as Lending Home while we continue to grow our PML (Private Money Lender) pool. This year our focus has been on scaling the business and over the last 6 months, we have gone from 5 contracts per month to 10 and our capital needs continue to grow. We have had success in finding short term (less than 12 month) investors to fund our flips for anywhere from 8%-12% depending on the deal. The challenge for us however is finding long term investors (greater than 12 months) to provide the acquisition capital needed for our buy & holds. A lot of people ask me how to raise private money and I have found the best way to do that is to let everyone know and to connect with others doing the same. How do I know this works, good question. Because we have been doing this over the past couple years and have successfully raise over $2M to complete over 75+ real estate transactions in Georgia and South Carolina.

Task: The task now is to significantly grow our long term PML pool first and then continue to grow our short term PML pool so that we have access to $500k-$1m per month. As I write this, I can’t help but realize how far we have come in such a short time. Also, I realize that there are most likely many other REIs (Real Estate Investors) in this growth period now or have recently solved the funding area of their business that can share their lessons learned for those not quite there yet.

Action: So what action did we take place to move on from traditional bank financing to get where we are today? Well, we started small with friends and family at first. Once those were tapped, we had enough deals and experience under our belt to look elsewhere. The next circles we went to for additional funds were our local meetup, friends of friends, and other investors in our mastermind. Having success making investors solid returns acted as a catalyst here and because our business was growing so fast, we quickly tapped and deployed all these new funds.

Now we are at a bit of a crossroads where we have a solid core of investors, but we need to grow the pool significantly. We could formally start a fund, but the cost and timing seem like we are not quite there yet. In the meantime, we set up a website, zerogravityrei.com, to put a face on our business and provide a platform to engage with our PMLs online. Now we are exploring other options and the most attractive thus far are to grow our self-directed retirement fund PMLs and dive deeper crowd sourcing options that connect directly to the investor.

Result: We have a nice pipeline of deals shaped up and are looking to gain access to anywhere from $500-$1m/month to fund our deals. We are averaging about 10 contracts per month and our exit strategies include: Flip, Owner Finance, Lease Option, and Rental.

Impact: We will source the funds because we have to and always find a way to do so. This is one of the most difficult challenges of being a business owner and one of the greatest sources of success, when you find a way to pull it off! Hopefully this post encourages other BP members to share lessons learned and additional resources, and shoot who knows maybe someone will even find a new PML source…

Regardless, cheers to raising all the private money you need for your deals!

Post: Real Estate Investor Meetup

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

Topic: What challenges are you having with your deals and growing your business.
Speakers: Vic Thompson

Zoom Meeting
https://us04web.zoom.us/j/9433577771?pwd=VWV4NEpIQm9yakd6WmU4ZGwvT1BmQT09
Meeting ID: 943 357 7771
Passcode: 123

More details on our website LINK

#zerogravityREI #runwayproperties #meetup

Post: I had a dream...and today I realized it came true!

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

I had a dream...and today I realized it came true!

A couple years ago I dreamed about all of us sitting at the boardroom table (didn’t think it would be through zoom...) analyzing so many deals that we would have to pick which ones to pursue and which ones to let go. This is now exactly what we do first everyday!

Cheers to making your dreams come true and hitting another major milestone 🥂 🍻

Post: Covid tried to take this deal, but we saved it!

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

@Robin Krieb I highly recommend Never Split the Difference it is a must read if you are looking to improve your communication skills.  

Post: Covid tried to take this deal, but we saved it!

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

Covid tried to take this deal, but we saved it!

Had this quadplex plus 2 others all locked up and ready to close then rona hit, spooked all the lenders which messed up all the buyers...so what did we do?

We found a way to split the deal into 3 separate deals and spread the closing dates out over 60 days. How did we do that?

1) Using pro sales tactics to reset and manage seller expectations. Learned from John Martinez and Never Split The Difference, specifically the deeeep anchor and accusation audit. 

2) Having the right relationships/team to figure out how to fund great deals.

Coronavirus is terrible and my heart goes out to all those impacted. However, as an entrepreneur it is testing our ability to adapt which is the key to long term success.

Post: October Real Estate Investor Meetup

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12
Looking forward to seeing you all Thursday, 1 October at 7:30 PM ET!

Zoom Meeting https://us04web.zoom.us/j/9433577771
ID: 943 357 7771 Pass: 485531

We will host a 40 minute zoom call focused on the specific challenges you are having as a Real Estate Investor. If you have any questions please post them on our FB page https://www.facebook.com/zerogravityrei. Hope you can join us!

If you have Haves & Wants please post them in the FB page

-----
Zero Gravity REI is Runway Properties investor focused arm of the business dedicated to helping other REIs overcome their challenges by sharing our lessons learned, resources, and network. We believe that if you want to go far go together! Give us a follow on instagram @zerogravity_rei so we can engage with you further.

Post: 😎 Zero Gravity REI Meetup 😎

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12
Looking forward to seeing you all Thursday, 3 September at 7:30 PM ET!

Zoom Meeting https://us04web.zoom.us/j/9433577771
ID: 943 357 7771 Pass: 485531

We will host a 40 minute zoom call focused on the specific challenges you are having as a Real Estate Investor. If you have any questions please post them on our FB page https://www.facebook.com/zerogravityrei. Hope you can join us!

If you have Haves & Wants please post them in the FB page

-----
Zero Gravity REI is Runway Properties investor focused arm of the business dedicated to helping other REIs overcome their challenges by sharing our lessons learned, resources, and network. We believe that if you want to go far go together! Give us a follow on instagram @zerogravity_rei so we can engage with you further.

Post: Athens REIA Meetup Aug 6

Victor ThompsonPosted
  • Investor
  • San Antonio, TX
  • Posts 25
  • Votes 12

Thanks for the kind words Georgui and I look forward to connecting John!