There’s one thing the multifamily industry excels at that others don’t–its potential for growth. 2x best-selling author, multifamily syndicator, entrepreneur, and podcast host Reed Goossens is here to share this with us today. Reed emphasizes the importance of having a mindset that is not only focused on profitability, but on sustainability. He also discusses the need to have at least 500 units in one area before you can turn a profit, and how this is an economy-as-a-scale thing. Reed Goossens shares his story of success and how he has always been able to bounce back from failed ventures. He talks about the importance of betting on yourself and how it's important to have multiple income streams in order to recession-proof your business. Tune in to learn valuable lessons for anyone who is looking to take their business to the next level.
[00:00 - 06:35] Opening Segment
Welcoming Reed to the show
Real estate in US versus in Australia
[06:36 - 16:52] Building A Robust Business through Branding
How to recession-proof your business with a strong personal brand and ecosystem
Personal brand as key to building an investment portfolio
Podcasting in building a reputation
Creating an ecosystem of related businesses
[16:53 - 25:55] Other Revenue Streams
Property management is an overhead intensive business
Renter’s insurance in house
Cable income, trash valet, and bulk buying
Being creative when assessing revenue-generating opportunities
[25:56 - 30:16] Closing Segment
Get to know Reed in the Quattro Trio!
"So one thing that I think you're recognized for is the ability and the track record of having built some ecosystems to not only recession-proof the business, but to really streamline operations, and surround yourself with an A team." - Reed Goossens
"It just makes more sense to go out and hire your own staff members and run your own properties. It may not be a profit center, but it is an expense control center, which is very important as we come into very low interest, low cap rate environments where margins become a lot thinner." - Reed Goossens
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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.