Working as a real estate broker can be a tough job. Many aspects are out of the broker’s control and if a prospective client decides to pull out of a deal, you could be in a vulnerable situation. It was this uncertainty that prompted our guest today, Drew Pearson, to transition from being a broker to working in private equity. He currently raises capital to buy income-producing properties, manages them, and returns the money to his investors monthly.
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In today’s episode, we learn about some of the challenges that Drew faced in deciding to pivot to another area of real estate investing. Despite having sound knowledge in the field, he still struggled to find his groove. He wants to encourage everyone who may find themselves in a similar position to keep going and persevere. Drew also sheds some light on the importance of building relationships, how knowing your strengths and weaknesses helps you grow, and much more. Be sure to tune in today!
Key Points From This Episode:
- Some of Drew’s background and his motivation for being on the show.
- Drew’s first deal and why he thinks that value-add properties are the ideal first investment.
- The ‘pieces’ that Drew recommends you break your first or second deal into.
- Drew explains what soft capital raising is and why it is helpful when starting out.
- Tips on how to raise capital and how Drew has gone about it.
- Planning for all aspects of growth helps ease growing pains when scaling.
- Drew’s plan to prepare for the predicted recession and his current investment niche.
- How Traction has improved Drew’s business.
[bctt tweet=”It’s great to write your goals down and look at those goals every day. — Drew Pearson” username=”whitney_sewell”]
Links Mentioned in Today’s Episode:
About Drew Pearson
Mr. Pearson began his commercial real estate career at Latter & Blum in Baton Rouge in 2008. He moved to a boutique firm named Waters & Pettit in 2011 and within a few years became a top-selling agent there. To date he has sold over $100MM dollars of investment property in more than 15 states. In 2015, he began to work at the real estate private equity firm Promanas in Ann Arbor, MI. There he served at head of acquisitions helping the firm to grow to over $250MM of real estate asset value. He considers his time at Promanas instrumental in his growth and development process. Mr. Pearson is married with two children and is passionate about hunting, fishing, and the mountains.
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