On the show today we are very happy to welcome Ivan Madrigal of Asset Legacy Group! Ivan is here to share some of his real estate syndication journey and offer some ideas on how to position yourself for success.
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We talk about his background in banking and how this has helped his current work, education and learning the ropes of real estate most simply and effectively and how to go about searching for profitable deals early on. Ivan unpacks his ideas on databases, communication, different asset classes and some of the deal-breaking factors they look at when assessing possibilities. Ivan is also kind enough to share some personal success stories, advice and why hiring a VA is the best decision he has made recently! For all this and bunch more from a real estate powerhouse, be sure to join us!
Key Points From This Episode:
- Ivan’s background in banking and how he got into real estate from there.
- Positioning oneself in a way to be prepared to deal well with investors.
- How Ivan educated himself in the beginning when he was just learning the ropes.
- Going out and looking for deals, starting from your platform and making plans.
- Broadening your database to raise larger amounts of capital.
- How Ivan and his team source deals and which asset classes they look at.
- Comparing owner responses from multifamily units and mobile home parks.
- Deciding factors when first assessing a mobile park for eligibility.
- Working out deals with existing tenants that are both attractive and fruitful.
- How hiring a VA has improved Ivan’s business!
- Ivan’s best advice about patience when taking care of investors.
- The important role of persistence in Ivan’s success in real estate.
- The daily ways in which Ivan likes to give back.
- And much more!
Links Mentioned in Today’s Episode:
About Ivan Madrigal
Ivan Madrigal started his real estate career in 2004 when he acquired a real estate license in Miami FL and placed it under a local broker. From 2004 through 2006, Ivan transacted over $2MM of residential single-family homes and condominiums for investors and end users. In September of 2006 he started a banking career that lasted 8 ½ years and held several positions from Personal Banker to Business Relationship Manager and Branch Manager. As a Business Relationship Manager Ivan managed a portfolio of small businesses with revenues between $500K and $2MM. He was responsible for providing deposit, cash management and lending solutions to his business clients. That gave him the opportunity to learn how to read and analyze business financials for the acquisition of real estate and working capital LOCs.
In 2014, Ivan left the banking career and started a transportation company, which he has successfully operated and managed for the last 5 years. Along the way he acquired four houses and have held them over several years as rental properties. In August 2018 he decided to educate himself in the management and acquisition of Multi Family residential and Mobile Home Parks and joined a coaching program to learn the ins and out of Commercial real estate. Ivan has joined a Multi Family Mastermind along the way and has been able to nurture a relationship with several experienced operators and sponsors with the goal of acquiring and managing a commercial real estate portfolio. His banking experience has served him well in analyzing and underwriting property financials, performing market analysis, and recognize important trends in the markets. He also gained the experience as a Branch Manager of how to build a team of successful and focused individuals, deal with day to day operations of a business, and provide excellent customer service to their clients.
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