Multifamily Podcast Network

In this week’s episode, we’re joined by an Iowa-based investor, Drew Coffin. Drew has quickly built a massive portfolio by focusing on the fundamentals: finding great deals, creatively structuring them, and operating them well. He started in late 2017 with the purchase of a duplex and has since grown to 700+ units!

We learn about how Drew became interested in the real estate business, his early career in property management, and how he was able to scale his business so quickly. We discuss the importance of collaborating with partners, buying deeply discounted deals, and how a background in property management can be so helpful when growing a multifamily business. Drew is a relatable guy with a great story, give this episode a listen!

For those who are looking to learn more about our business, head to www.alignedrep.com/invest to get on our email list. Thanks for listening, catch you all next week!


TIME STAMPS:

04:12 – Drew talks about how he found the real estate business, his early career in property management, and his first few deals.

07:17 – We talk about Drew’s first deal and how he was connecting with sellers over Craigslist

09:21 – We discuss the importance of developing great relationships with banks and how he used second mortgages to take down deals.

10:22 – Drew shares some unique financing strategies and some of the larger deals he purchased.

12:41 – Drew and Axel share their similar experiences and delve deeper into the relationships with lenders and how to strengthen them

16:25 – We learn more about how Drew is sourcing deals off-market

29:17 – We talk about structuring offers, presenting offers, and key negotiating strategies

34:46 – Drew and Axel discuss how important it is to share the underwriting when providing feedback to a seller

44:22 – Drew shares his go-to resources and technology  

46:24 – We discuss Drew’s most significant business-related failure and what to learned from it

48:04 – Drew shares his best advice for anyone new in real estate

48:50 – We learn more about what Drew is looking to do i the next 6-12 months


CONNECT WITH AXEL

https://www.instagram.com/multifamilywealth/?hl=en

https://www.linkedin.com/in/axelragnarsson/


CONNECT WITH DREW 

www.instagram.com/drewjcoffin
(319) 531-0838

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