“The best way to get seller financing is simply to ask the seller” - Jacob BlackettSyndicationPro, a real estate management software that now has thousands of happy investors from all over the country, all leveraging passive real estate investing to create passive income and build true wealth for themselves, has been through its share of ups and downs.Here are some of the key highlights from our latest story covered by Business Insider:
- Attended a $1,000 seminar in college to know more about fix and flip. That’s all it took for Jacob to decide on whether or not he should opt for real estate.
- Nabbed two deals shortly after the seminar ended by applying the knowledge taught in the seminar to a real-life scenario. Purchase, fix and flip the properties for a hefty profit.
- Switched strategies after losing approximately $70,000 on his first deals.
- Fast-forward to today, and Blackett has built a robust portfolio to 1,040 units worth approximately $188.4 million.
- Consulted a contractor, and lined up a hard-money lender who dove into the deals.
- The initial squabble with his fix-and-flip strategy compelled him to shift gears to wholesaling.
- Realized that although the money in SFH was good but without any tax benefits. That’s when he changed his direction towards Real-estate syndication which equates to crowdfunding for institutional-quality deals
From a late-night infomercial to a 1,040-unit empire worth $188 million, here’s Jacob Blackett perfected his real-estate-investing strategy after losing $70,000 on his first deal.
- Purchased single-family homes with his own money and aggregated them into portfolios of 10. Brought in investors for 70% while maintaining 30% ownership.
- Switched to Multifamily investments after almost 150 SF units. So instead of conducting tons of separate transactions he now had all his units in a centralized area.
- Started off with a 46-unit apartment building. This became a turning point for his career in the real estate industry.
"It's really a big snowball effect," he said. "At the end of my day, in order for a deal to work, I need to be able to return a certain amount to my investors — and then also be able to have ownership in the deal to make it worthwhile for me as well."Read the complete Business Insider Story Here:Business Insider Story