If I had unlimited money, this is how I would dominate CRE brokerage:
1. Get Data
- Hire VA's to scrape data providers
- Get TLO for mobile and emails
- Have cold caller's verify ownership
- Build Top 150 clients list, cambridge analytica that shit
2. Top of Funnel
- Built
Wow. It gets better.
The City of Santa Monica has approved plans to build a 122-unit homeless apartment complex for a staggering $123,000,000.
Over $1M per unit...
Best part is they were being conservative and turned down the 196-unit $200M plan.
What a time to be alive.
I made 100+ cold calls per day for years.
I closed dozens of 7-figure commercial real estate deals.
This cold call flow guided me on every single one.
For 24 hours, it's Free.
Like and Reply "Flow" and I'll send it to you.
Must follow for Auto-DM.
I made 100+ cold calls per day for years.
I closed dozens of 7-figure commercial real estate deals.
This cold call flow guided me on every single one.
For 24 hours, it's Free.
Like and Reply "Calls" and I'll send it to you.
Must follow for Auto-DM.
Over the past 10 years, Mark Cuban has bought millions of dollars worth of commercial real estate.
What most people don’t know?
Most all of them make ZERO CASH FLOW.
Here's the crazy billionaire secret that I couldn't make up.
🧵👇.
Yes, This is my company
Yes, I am proud to be apart of it
Yes, you may be triggered
Yes, we celebrate wins
To those that are upset please see some wise words below:
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer
I made 100+ cold calls per day for years.
I closed dozens of 7-figure commercial real estate deals.
This cold call flow guided me on every single one.
For 24 hours, it's Free.
Like and Reply "Flow" and I'll send it to you.
Must follow for Auto-DM.
Zara founder Amancio Ortega is the richest person in Spain.
From his $75.3 billon dollar fortune, he’s invested up to $17.2 billion in commercial real estate.
Here are the 5 craziest properties he owns:
This is why investors are scared of investing in California:
City of Santa Monica just passed a law limiting annual rent increases to $76. On any rent...in any unit...of any quality.
The best example I had to laugh at:
Tenants in the 16-story Champagne Towers on Ocean Avenue
I made 100+ cold calls per day for years.
I closed dozens of 7-figure commercial real estate deals.
This cold call flow guided me on every single one.
Like and Reply "Cold" and I'll DM you the link.
Must follow for Auto-DM.
(24 Hours Only)
I made 100+ cold calls per day for years.
I closed dozens of 7-figure commercial real estate deals.
This cold call flow chart guided me on every single one.
For 24 hours, it's Free.
Like and Reply "Chart" and I'll send it to you.
Must follow for Auto-DM.
Ken Griffin, CEO of Citadel, just had the GREATEST hedge fund performance in the history of hedge funds.
His compensation for such a year was $2M PER HOUR of work.
Total monies: $4.1 BILLION
In 1 year... insane
Cold calling can land you million-dollar deals over the phone.
But most people ALWAYS make mistakes.
Avoid these 5 cold call mistakes: (& how to fix them)
Alright, this is kind of getting crazy.
On Feb 13th, the city of Santa Monica is voting on a proposal that could change housing in CA, forever.
Here are the highlights:
- This covers all housing. Including non-RC buildings.
- If an owner increases rent by CPI +5% or 10%,
Wow.
5% down payment on 2-4 unit properties from Fannie Mae starting Nov 18th.
This just made a lot of people some decent money and opened the door for many new investors.
Might need to start slanging quads!
I can find 99.99% of people's phone numbers.
Here are the tools I use:
1. Truepeoplesearch
2. Bizfile online (LLC search)
3. Costar
4. Lexis Nexis
5. Landivison or Landglide
6. Title Reps
7. Google Search
That's it's. Most are free and the paid ones have cheaper alternatives
I set a goal to hit 300 cold calls this week or I paid our office pot $100.
It’s 5:45 on Saturday and I just got a lead for a $10M site in Santa Monica.
I’m still amazed everyday at what you can create for yourself with effort and sacrifice and irrational fear of losing $100.
Pitching on a 20+ unit apartment deal in Los Angeles this week.
Look at my notes:
Called 57 times
Left VM 45 times
Reached 3 times
20 Post cards sent
15 email followed ups with no response.
Got a hold last week and wanted to sell.
Its all in the follow up.
Wow!
Trying to by my first home.
Got of the phone with a Realtor who blatantly said I had no chance. Doesn’t want to work with first time buyer… even though I work in real estate.
How do assholes make it in this business?
An agent in our office just listed a 2018 built vacant Burger King.
BK when dark this year.
Owner bought for $2.5M at a 5.5% Cap with 20 year lease as a downleg.
Listed at $1M today!
WOW!
These are the stories you have to share with clients because it could happen to
Commercial Real Estate is the most lucrative industry on the planet.
But where do you start learning?
5 books that will teach you everything you need to know:
Everyone thinks they work hard, until they actually meet someone who works HARD!
21 yr old women at Starbucks.
Wakes up at 3:15 AM
Works until 2 PM
Goes to school until 9 PM
Got straight A’s this semester.
Savage.
Want to create a $1B company.
Create an actually useful Commercial Real Estate CRM.
And all you saying the ones out there work, you don't know the capabilities of what is out there for other industries. It's crazy.
My first year in the CRE brokerage I made $10,000.
Funny thing is, it was a referral from a mentor, of a vet clinic (I sell MF), to negotiate the tenant buying from the owner.
Here was the first deal "tie cutting" tradition:
Want to be a 10X better cold caller than 95% of people.
These are the 5 efficiency lessons I've learned from making over 100,000 cold calls in the last 5 years.
👇
Just got an Uber ride from a 19yr old.
Told me he got his Series 67, works in MF commercial real estate, starting driving a week ago because Super Bowl in town.
Told me how brutal brokerage was. Couldn’t help but love his hustle.
Offered him a job in LA if he wants it.
I have a strange idea on why owners of apartments in LA are not selling.
Many owners who own 1-3 properties either bought them 40 years ago, or were passed down to them from their family.
They get 5 brokers calls a day.
Those brokers tell them a crazy value for their
This year I have regained my faith of Gen-Z.
Last year we had 4 interns
Year before 10
This year we have 27 and they are all in by 6AM and leave after 6PM.
Savages!
Anyone need a loan?
Rate Update:
5.35%
Offering 3,5,7,10 Fixed
30 Year AM
15 Year Term on Multifamily
1.25 DSCR – not great for MF
Rate Lock for 60 Days
Will do non-recourse with 1.5 DSCR
Offering 3 Years of I/O with 27 Year AM underwritten and offered
Par lender
5,4,3,0,0
Holy Shit its happening.
I will now be doing business outside the city of LA as paying 10% to sell your apartment building seems insane to me.
Way to help all the mom and pops
One of the smartest investors I’ve worked with bought an $80m portfolio in San Francisco last year.
18 buildings.
He just told me he never saw inside. Never looked at a rent roll.
Don’t have any DD docs.
He then told me he just sold 10 of them for $50M and once he sells 4
I rent a home in Venice CA.
I’ve never met Laurie but damn, I love her marketing.
Some of my prospects better be ready to receive a pickle jar opener from me.
I genuinely love this.
Who wants to buy a 10 unit in Santa Monica at $300k per unit and 2% cap rate / 21 GRM ?
We just listed one.
Everyone outside of CA probably thinks this is crazy.
Funny thing, it will sell.
The CRE market is down over 60% YoY.
January Apartment sales were lowest since 2011.
500k new apartments are being listed in mkt in 2023; biggest delivery since 1986.
Get ready. This feels real now.
Every week.
I track my calls.
There is a storm in LA today which means everyone’s at home.
Lucky for them, I’m calling with some great deals ;)
Get after it.
PS. Yes clipboard is badass.
I just had an epiphany!
Tenants in old rent controlled apartments should buy the building, move out, then sell with there rents up to market. All old tenants go in on it.
Renters in SaMo are sitting on gold mines. They could even afford to pay over market.
Maybe business
There are 100s of tools you can use for commercial real estate.
But most people don’t know they exist.
Here are the 10 best CRE tools you need to be using:
I know a billionaire RE owner who is very active in my market.
Earlier in my career we were $50K off on a deal getting done with them.
I thought, you have so much money, why not pay the $50K.
My mentor proceeded to tell me:
"Why do you think he is worth a Billion?"
Lesson
He buys properties that make ZERO income w/ 90% debt, writes off interest, and pulls out free money
Huh?
There is this fun little area of the tax code; section 467
Posting my losses
Didn’t win this.
Reason was for my age.
Tough to show someone $150M worth of trades in last 3 years and still be looked down upon.
Time to get back on the horse.
Another day another dial.
For those that care about LA multifamily:
For the next year+ you will see multifamily buildings in Generational area's at prices you cannot believe.
I just saw a 1990's building in west LA trade for $250K per door.
That was $500K+ per door 18 months ago....
Today is the last day of our internship program.
I shared with all of them something I truly believe.
This market is rough and NOW is the best time to start your career in brokerage.
-Owners are getting less calls.
-They are more receptive to up to date info as things are
I've been at over 500 meetings in the past 4 years.
A lot were a waste of time.
But some were career-altering.
Here are my top 5 tips for efficient CRE meetings:
Here is how a 40 year veteran real estate owner made $3M… Overnight.
The answer: specific knowledge.
But this is what I mean.
He told me how one day he got a call from a broker. The broker saw he owned in the area and called him about a new listing he had near the ocean.
His portfolio is worth more than $4 billion.
But no one knows anything about him.
Here are 5 things you need to know about David Lee of Jamison Properties:
Sharing my losses.
I lost a listing that I've been working on for the last 12 months.
This one stung. I spent:
- 10 hours with city planning committee discussing all the possibilities for the land value
- 15 hours underwriting the property
- 10 hours looking at comps
- 15
On April 1st of this year, Measure ULA went into effect in the city of Los Angeles.
Since then 5 properties have traded over the $5M tax threshold.
FIVE
In the same 55 day period last year, there were 32 sales.
Current Tax Dollars Received: $1,172,000
Projected: $56,000,000
Santa Monica just set rent increases to 6% or $140, whichever is lower.
That means if you pay $2,333 or more you win.
They also increase rent registration by 15%.
What a city.
So Maverick Mark has successfully:
• Differed his capital gains
• Bought a $10M property with $1M Down
• Pulled out NON-TAXABLE equity
• And gets a massive tax write-off
All in a days work.
Lawsuits now a days are crazy.
My uncle an attorney told me last night that one case he worked on
Women driving 60mph drunk in 30 zone crashed into parked car. Sues car company for $18M.
Settles for $450k.
Jury only put 40% of blame on driver.
Now you know why all your
The biggest mistake I see young agents making is lack of practice.
They make the calls, send the email, do the follow ups
But they don't proactively practice their skills.
Pitch, calls, emails, voicemails.
I just rewatched "The Last Dance" and all I could think about was
After 7 years I finally updated my prospecting tracker.
One of the biggest realizations over the past 12 months is relationships and referrals are the greatest drivers of business in CRE brokerage.
Hopefully my Analogue mind can make the most of this.
Starting today I’m doing a 2 week dopamine detox.
No: TV, YouTube, Social Media, music (except classical), audio books, processed foods
Yes: Reading, Writing, Thinking, work.
Any tips or suggestions before I leave you for two weeks?
What’s one thing you spend money on for convenience that most people think is dumb?
For me is Laundry. $85 per month for 2 loads they pick up and drop off.
Gives me back my Sundays.
LA City eviction Moratorium is ending Jan 31st 2023... after 3 years
Landlords can evict tenants for non-payment of rent, unauthorized pets, and unauthorized tenants.
However, owners can not increase rents until 2024.
What a world
Athletes make MILLIONS a year playing sports.
Yet some athletes make 10x that AFTER they retire
3 athletes that made over $100 million investing in commercial real estate: