If you really want to scale, you need to be the operator who can handle it before it arrives! Dave Lindahl, the author of Multifamily Millions and Emerging Real Estate Markets, is the Founder and CEO of RE Mentor™. Starting with very little money and a desire to change his and his family's lives for the better, Dave began his real estate investing journey. Fast forward almost twenty years and Dave has bought and sold over 8,200 real estate units from foreclosures, short sales, wholesale deals, lease options, and rehabs with single-family, multi-family, and commercial properties! In an effort to help anyone who has an interest in changing their lives through real estate, Dave created RE Mentor™. Today, it is recognized worldwide as one of the leaders in real estate investing education.
What a treat today folks, a true leader in the space and personal mentor of mine. Let’s dive in and learn more about
Getting to know David Lindahl - [00:01 – 03:44]
I introduce David Lindahl to the show
David shares a bit of his background
His early motivation to get into business
Buying his first property, no money down
From David’s first deal to getting 40
Learning to tap into emerging markets
Scaling up to over 9,000 units
Tapping into Emerging Real Estate Markets - [03:45 – 12:40]
David’s tips on how he learned about emerging markets
Following job growth and household formations
Communicating with the chamber of commerce
What is attracting people?
How strong is the leadership?
Go downstream, don’t travel against the current
Move with the markets
The biggest takeaways from David’s experience scaling as an operator
Build your infrastructure ahead of yourself
Assume business success from the beginning
Change the infrastructure as you scale
Get a good accountant
Grab your ticket to the MFIN Summit at mfinsummit.com Use promo code QUATTRO
How to Upscale Your Skills as an Operator - [12:42 – 19:31]
David talks about his biggest lessons as an operator
Prepare to fire the management company the day you hire
Build up your real estate gut
David’s insights on the future of the rental housing market
A major correction will most likely come soon
The markets will equalize again
Be aware of GenZ coming into the market
Continue to follow the market cycles
The Quattro Trio - [19:32 - 24:35]
What is your superpower?
The ability to look 3 to 5 steps ahead
What was your biggest failure?
Buying a 400 unit in Alabama
Having to pay off investors after 6 years
How do you give back?
Summer Camp for the Handicapped
What you can get out of the RE Mentor Event
“I started following job growth and I started following household formation. Those are the two big things that move markets.” - David Lindahl
“You need to build your infrastructure ahead of yourself… The businesses that are the most successful are the ones who set up their business systems and assume success at the beginning.” - David Lindahl
Have you heard about the Multifamily Investor Nation Summit, coming up on January 20th? If you've never been, it's a three-day information-packed event for multifamily investors, with over 1,000 attendees and over 50 speakers! Not only will hear from experts about finding deals, raising capital, underwriting strategies, selecting markets, and so much more...But this year our partners here at Quattro Capital are excited to be participating with three speakers at the event. Our amazing Kim Wendland will be speaking on the often neglected subject of asset management, how to make the machine hum, while our most-interesting-man-in-real-estate Maurice Philogene will be speaking on how to leave your corporate job for a freedom lifestyle. I personally will even be speaking on the topic of how to perform due diligence on multifamily assets before you purchase them and the not-so-common things to watch out for. Go to mfinsummit.com to grab your ticket and use promo code QUATTRO to get $100 off of your full access pass! Whether you are new to multifamily investing or a seasoned investor, you do not want to miss this event. Join Team Quattro at the Multifamily Investor Nation Summit.
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Join the MFIN Summit and use our promo code: QUATTRO
Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.