Spencer Hilligoss is a passive real estate investor, multifamily co-sponsor and former technology leader. His company, Madison Investing, has co-sponsored deals totaling more than 4000 units for more than $500M. Spencer invests in syndications as an LP and actively leads Madison Investing alongside his Co-founder/Wife – Jennifer Morimoto.
For today’s episode we will cover:
[00:00 – 8:06] Opening Segment.
- How Spencer started in real estate by 6 years old.
- Why Real estate is part of a holistic journey.
- The perfect time to learn about real estate investing.
[8:06 – 13:29] How to get more people to invest in you.
- What is Private Direct Real estate?
- You should always present data to heavily educated people.
[13:29 – 19:19] The realization that something is scalable.
- When your plans need some tweaking.
- The moment of taking the business to the next level.
- The importance of outsourcing tasks.
[19:19 – 24:46] How to get started as a passive investor.
- The operator, the market, and the deal.
- Why the operator is the most important thing among the three.
[24:46 – 34:00] The Market and the deal.
- Doubling down on the importance of having a back up plan.
- Looking for the areas that will keep growing.
- Focusing on the sub-market.
- The importance of the year one cash flow.
- Criteria on investment returns and cash flow.
[34:00 – 39:33] Crash course on what the multi-family classes are.
- What are the different classes ( A,B,C )
- Why B is the best class to invest in.
- The challenges of C class properties.
[39:33 – 43:42] Types of Communication that you should get from an operator.
- Why frequent communication is key.
- The metrics that you should track often.
- The importance of transparency with your clients.
[43:42 – 46:54] The active side of Real estate.
- The hard truth and the reflection that comes after.
- Changing plans in the middle of the journey.
[46:54 – 56:13] Closing segment
- Why coaching is better than listening to podcasts.
- Why learning doesn’t stop.
- The benefits of being part of a mastermind.
Tweetable Quotes:
Experience is just irreplaceable. – Spencer Hilligoss
A lot of times people think that they get to a certain plateau or a certain level, and that they don’t need to learn anymore. That’s a dangerous place to be. – Spencer Hilligoss
SUBSCRIBE & LEAVE A 5-START REVIEW as we create a lifetime of wealth and financial freedom through multifamily investing!
Invest with us! Check out Blue Oak Investments