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What you’ll learn in just 17 minutes from today’s episode:
  • Learn how to build a reliable team even when you are managing them at a distance
  • Find out one investment strategy that had Sean heaps of profit from
  • Discover the lifestyle perks of having to run your real estate business online and still doing great

Resources/Links:

Summary: 

Sean Pan is a house flipper in the Bay Area and owns buy and hold rentals in the East Coast. He is a podcast host, meetup group leader, and hard money lender.

In this episode, Sean shares the many productive ways he does even amidst the pandemic. He talks about how he got started in real estate, does a podcast show, and hosts meetup groups. Most importantly, he talks about how he earns huge profits from flipping properties while managing a team online at a young age.

Topics Covered:

01:01 – How he manages a real estate investing business in one country while living in another

01:17 – What properties he buys on the East Coast and the market he is focusing on

02:00 – His preference of a strategy for the properties he buys

02:35 – His best ways of building a management team

03:30 – How does he make sure the property management team are as good as what they say

04:15 – Making huge profits from flips he did in the Bay Area

04:39 – How he got started buying properties in the Bay Area

06:07 – Talking about hard money loan and loan to value ratio

06:53 – How long does it take for him to do flip deals

07:48 – What his main job at this time

09:05 – How he got started in real estate early in life

11:44 – How he makes the most of his meetup groups even at this time of the pandemic

12:54 – Lifestyle perks of real estate business even amidst COVID

Key Takeaways:

“You definitely cannot be shy on the phone. I think that’s one of the best ways to build your team; you have to do some cold calling.” – Sean Pan

“Once I find one really solid connection, I can ask them for another connection. What are your referrals? Who can you say is a good property manager in your area? And eventually, we are working with these sorts of people.” – Sean Pan

“The number one person that I try to find first is going to be your agent or wholesaler. And then from that person ask who is a really good property manager that they recommend. So far, all those referrals have been really good.” – Sean Pan

“If you have no network, you are just stuck with what you have. And you have no idea. And so imperfect information means that you just don’t run your business as optimally as you could.” – Sean Pan

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