Excited to release this week’s episode with Eric Schmid, a young investor based in Minneapolis, MN. At the young age of 25, Eric and his partners have amassed a portfolio of over 80 units (with another 42 under contract)!
Similar to a lot of investors, Eric entered the world of real estate by buying a duplex and since then, has been able to grow a sizable portfolio by focusing on direct to seller marketing and creative financing. In today’s episode, we discuss Eric’s strategies to personally connect with sellers, how to dial in your direct-to-seller marketing efforts, and how you can bring less cash to closing. He also shares what he has learned while scaling his portfolio, as it relates to asset management and working with property managers. Eric was able to grow his portfolio in a short amount of time using these strategies – tune in!
Highlights of the Episode:
0:02:58 – Eric talks about his background and how he started in real estate.
0:04:50 – Eric talks about his partners and what the business looks like today.
0:07:10 – We learn more about each partner’s role and what makes their partnership successful.
0:09:31 – Eric shares what he focused on to grow a portfolio of what is soon to be nearly 120 units in just a couple of years.
0:19:35 – We discuss the technology and infrastructure Eric uses to consistently contact sellers.
0:25:50 – We learn more about how Eric and his partners finance their deals.
0:26:51 – Eric talks about seller credits and seller carrybacks.
0:30:23 – Eric shares what they do to manage their assets and properties and what they learned from working with property managers.
0:35:36 – Eric shares one piece of advice he would give himself before starting his real estate business.
0:38:04 – Eric shares his most significant business related failure and what he’s learned from it.
0:40:55 – Eric shares one skill or trait he attributes his success to.
0:42:35 – Adam talks about his short term goals.
CONNECT WITH AXEL:
Instagram: https://www.instagram.com/multifamilywealth/?hl=en
LinkedIn: https://www.linkedin.com/in/axelragnarsson/
Connect with ERIC SCHMID:
Instagram: https://www.instagram.com/ericschmid/?hl=en
