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What you’ll learn in just 17 minutes from today’s episode:
- Strategies to start out in real estate even when you don’t have credit available and just meager cash to invest.
- Learn about what syndication is in Real Estate and how to leverage this strategy
- The tips and steps on how to start investing in the United States
Reed Goossens is a real estate investor, entrepreneur, author, public speaker and all-round good bloke (as they say in Australia :-)) In 2012, he quit his job in Australia and moved half-way across the globe to the USS. With limited funds, no credit, and no network he started investing in US real estate. He now controls over $120 million worth of multi-family real estate in his portfolio.
Today on Property Profits Real Estate Podcast, find out how Reed, an Aussie mate made it into real estate investing in the US within just a year of relocating, the strategies he followed and the tips and tricks that he can share for someone who wants to dive into this investing opportunity.
01:12 – How did that move from Australia to the US happen
03:03 – Digging right into multi-family properties the moment he relocated to the states
05:57 – Starting it out in real estate with not much capital, just building relationships with banks and lenders
06:37 – What is syndication in Real Estate
09:33 – Common mistakes in multi-family investing that have new investors screwing up
11:34 – One superpower that he has that makes him so good at real estate
13:18 – How to get out of your own fear of getting started
17:32 Talking all about his book entitled “Investing in the US: The Ultimate Guide to US Real Estate”
“I think the big thing is the first step you need to do is understand what market and what you want to invest in.” – Reed Goossens
“Choose a market where you may have a bit of a competitive advantage. Maybe you’ve got a relative there or a friend there or someone who can share information that you, because you live in Canada, don’t necessarily know that being South of Smith Street is bad or being North of Smith street is bad” – Reed Goossens.
“Once you’ve chosen a market or a couple of markets, I always encourage people to underwrite a minimum of 50 deals in any one market because that is a great desktop study on getting to know the market without actually being boots on the ground. And then you get to the second, and the third thing and then reaching out to local brokers, local partners.” – Reed Goossens
“If you can partner with anyone, boots on the ground, I highly recommend doing it because it will then incentivize the person who’s on the ground. They’re part of the deal that can have you both, you’ve got shared interests. And,so, you don’t have to necessarily worry if it’s just your deal that’s thousands of kilometers away and sort of set it and forget it, and no one’s really looking over it” – Reed Goossens
“And I think as entrepreneurs in this world, things are drastically and rapidly changing, we’ve really got to be like a surfer, you know, like ride the wave of change and be okay with change and not just have the blinkers on and go down the path of this being, well traveled, and try and blaze your own path if you can and do things a little differently.” – Reed Goossens
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