Today’s guest is Beau Beery, a real estate professional and author of Multifamily Investors Who Dominate. He has been in the commercial real estate business in Florida since 1999. He has a bachelor’s degree in marketing and a master of science degree in real estate. He also holds a CCIM designation.
Let’s listen to Beau to learn more about multifamily and the Northern Florida market.
LISTEN HERE:
[00:01 – 11:33] Opening Segment
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Let’s get to know Beau Beery
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Beau talks about his background.
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He has been doing multi-family for 20 years
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How to stand out and increase your deal flow?
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Investor are kind of clueless about the market status
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It’s not about finding deals but becoming the type of investor and doing the right things; the deals will come to you.
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Beau talks about Florida market status to give you the idea about how rare it is for deals to come to the market.
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You can not find these deals, these deals find you, and it is done by brokers.
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Beau shares his study for five years.
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He studied 31% of all closings over ten units during that period.
[11:34 – 27:34] Making The Deal Comes to You
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Handling larger transactions deals
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Beau describes what ‘Off Market’ means.
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Reasons some owners might go off the market without any broker.
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What can investors do to stand out and be one of those people to be contacted first.
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Put together a biography.
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Building letters of recommendation from broker and lender.
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hook up with a mentor
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Beau talks about how he presents offers to sellers.
[27:35 – 40:54] The Importance of Response Time
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The significance of confidence and trust on higher probability of closing to win deals
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Direct feedback on opportunities for groups
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If you are interested in multifamily and want to review a sample deal, check out our special download of a sample deal package on aliceblue-kangaroo-352517.hostingersite.com/sampledeal, and join our mailing list to get tips and exclusive investment opportunities.
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The importance of response time.
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The brokers may know things that you just never thought to ask about the operation of the property.
[40:55 – 48:00] The Northern Florida Market
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Beau talks about what is attracting so many investors to Northern Florida.
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The foresight of price-cap by this year
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Beau gives some interesting stats of the northern Florida area
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Beau talks about the market stats in the Orlando area
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How to connect with Beau
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See links below
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The importance of understanding the sub-market knowledge.
[48:01 – 58:09] Bullseye Round
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Apparent Failure:
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“Working with the bad reputation people on the first few years of his career..”
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Digital Resource:
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CRM
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Most Recommended Book:
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The Algebra of Happiness by Scott Galloway
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Daily Habit:
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2-hour time frame to make phone calls
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Deep Work by Cal Newport
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Current Curiosity:
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Membership type of businesses
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Wish I Knew When I Was Starting Out:
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Doing what you are good at, not just following your passion.
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Best Place to Grab a Bite in Florida
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Dragon Fly Sushi
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How to connect with Beau
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See links below
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Final words from me
Tweetable Quotes:
“You can not find these deals, these deals find you, and it is done by brokers” – Beau Beery.
“It’s not about finding deals but becoming the type of investor and doing the right things; the deals will come to you.” – Beau Beery.
“The brokers may know things that you just never thought to ask about the operation of the property.” – Beau Beery.
You can connect with Beau on Linkedin and check out his website at beaubeery.com.
Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING AND REVIEW, and be sure to hit that subscribe button so you do not miss an episode.
To enhance your multifamily knowledge and achieve greater success in your business, you can connect with me on LinkedIn and Facebook.