Welcome back to the Multifamily Wealth Podcast! This week we have a unique episode where we feature two guests, Mike Doherty and Ryan Deasy, investors and partners based in Connecticut. In this episode we talk about a multitude of topics, starting with how to find a great business partner, along with how to work with partners effectively. We discuss how to tell if a partnership is right for you and how to get the most out of business partnerships. A lot of investors know that scaling is easier when working with someone else, but oftentimes don’t know how to find the right partner.
We dive into how their partnership is structured and how they have made it successful for both parties. Additionally, we discuss off-market deals as it relates to prospecting, marketing, and the overall strategy they currently use to find deals. Ryan and Mike share details regarding the tools they use in their business, the processes they have put in place, and the metrics that they track. To top it all off, Mike shares some of the creative financing options they use to purchase multifamily, and provides an example of a recent deal they bought. This will be an informative episode for those listeners looking to find partners, buy off-market deals, and utilize creative financing on your deals.
Show Notes:
3:21 Mike and Ryan share their backgrounds, how they got into real estate, and where they are currently at in their business.
9:15 We briefly discuss house hacking, as well as how a new investor should get started in their real estate investing career.
11:35 We discuss how Mike and Ryan initially became partners, and how the partnership was structured.
15:19 Mike and Ryan share their tips for finding the right partner, and how to make sure it is a successful venture.
19:34 Ryan discusses their current marketing plan and how they build their lead funnel to get connected with sellers.
24:53 Ryan shares the KPI’s they track for their prospecting/marketing and explains how they track them effectively.
27:37 Mike shares how he talks and follows up with possible sellers, and the system they use to make the process efficient.
31:44 Mike and Ryan share the creative financing options they are using to close deals in today’s market.
40:41 We discuss the structure of mixed use deals such as a building with a mix of residential and commercial units.
43:46 Mike and Ryan share a piece of advice they would give themselves before starting their real estate investing careers.
45:46 Mike and Ryan share their most significant real estate related failure and what they learned from it.
49:13 Mike and Ryan share one skill/trait that they attribute their success to.
50:41 Mike and Ryan share their short term goals for their business over the next 6-12 months.
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
www.alignedrep.com
Contact Mike and Ryan:
@deasypropertygroup
@mikedohertyrealtor
