In today’s episode, I’m chatting with Tory Sheffer, a young, Michigan-based real estate investor who is absolutely crushing it. We touch on numerous topics in this episode, such as finding deals through direct mail, working with other investors, and finding partners to do deals with that you actually like working with.
I think a lot of listeners will find inspiration in Tory’s story… he was able to find the right people to learn from, took immediate action on what he was learning from them, and the results were monumental – his first deal was a 232 unit portfolio! We dive deep into this deal and discuss a lot of actionable strategies and tips (regardless of whether you’re looking at small or large deals), such as how he was able to close it, how he found it, and how he applied some unique principles to maximize the deal’s profitability.
Show Notes:
3:18 Tory shares his background, how he grew up, and what got him into the real estate business.
7:05 Tory discusses how he shifted his focus from selling/investing in single-family homes to purchasing large multifamily properties.
12:30 Tory shares how he got his deal through direct mail, discusses the mailers he uses, and how to use them effectively.
16:57 Tory goes over the details of his first deal, a 232 unit portfolio valued at $16M+.
20:01 We discuss the business plan for the first deal that Tory purchased and dig deep into the details of the deal.
26:05 Tory talks about how he was able to wholesale a large multifamily property and complete a double close on the property.
28:14 Tory discusses how he is able to balance being a broker with being an investor.
30:56 Tory shares what his business is like currently and how he has grown since his first deal.
37:50 Tory gives a piece of advice he would give himself if he were to start over in his real estate career.
39:57 Tory shares the best decision he has made in his career and business thus far.
44:45 We discuss how to properly reach out to people and ask for advice/time.
45:58 Tory shares one skill/trait that he attributes his success to.
47:53 Tory talks about his short-term goals for the next 6-12 months and what he plans to accomplish.
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
CONNECT WITH TORY
https://www.instagram.com/torysheffer/
https://twitter.com/toryjsheffer?lang=en
