This is a great episode for those looking to build a rental portfolio in a higher-priced market! Willie Mandrell shares how he used numerous financing strategies to acquire properties in the Boston, MA area, and how the listeners can develop a strategy that will allow them to scale in an area with higher price points. We also discuss why its important to be well known in your market and how it relates to finding deals and building relationships with lenders.
Show Notes:
2:30 Willie shares how he got into real estate and how he purchased his first deal.
8:45 We discuss how Willie built a strategy and expanded his portfolio after his first FHA deal.
13:50 WIllie talks about how relationships with banks and lenders are essential in getting the best financing.
15:12 We discuss why asking questions is critical to success in real estate.
18:40 Willie shares how he finds and structures deals. Also, we talk about what Willie looks for in a deal.
25:16 We discuss how Willie finances his deals with commercial and private lending.
27:00 Axel and Willie discuss the benefits of building a relationship with local banks.
31:38 Willie shares details regarding a few of his most recent deals.
36:48 We discuss the benefits of renovations within a higher price point market.
42:45 We discuss the differences of investing in high vs lower price point markets.
50:15 Willie shares his biggest business-related failure.
52:20 We discuss what Willie would do differently if he was starting his business again.
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
Download my investor toolkit (cash flow calculator, investor pitch deck, scope of work template, and renovation checklist) here.
CONNECT WITH WILLIE
https://www.linkedin.com/in/wjmandrell/
https://www.mandrellco.com/
