Financial independence is what John Stoeber wants to achieve which led him to Real Estate investing. As a millennial in the industry, he shares how he started by simply realizing that he was not cut out for the corporate world. Today, we get to know John as he shares lessons from his past deals and how he was able to secure his current deal with a 34 unit portfolio. We will also talk about the “buy, rehab, rent, refinance, repeat” or BRRRR method and its difference from the cap rate.
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We will also hear about flipping houses and master lease option (MLO), and how we can maximize these in investing. Moreover, we learn how important it is to weather a storm and most especially prepare for one. So, if you are up to the challenge, tune in!
Key Points From This Episode:
- John shares why he wasn’t cut out for the 9-5 work schedule of the corporate world which eventually led him to know about real estate investing.
- Steps John took to accomplish his goal of financial independence.
- John discusses his past deals as well as his current deal with a 34 unit portfolio.
- Understanding the difference between flip-mentality and cap rate.
- John talks about the master lease option.
- Ways of selling a deal to investors.
- John on preparing a business plan and exit strategies.
- John shares his prediction of the real estate market in 6-12 months.
- Ways to weather a storm in the industry and how to be prepared for one.
- John talks about the impact of the eviction moratorium on landlords.
- The daily habits that help John achieve success, things that contributed to his success, and his way of giving back
“If you have properties, I just say you might try to hold on and weather the storm because I think there’s sunshine at the end of this (COVID-19 situation).” – John Stoeber
Links Mentioned in Today’s Episode:
About John Stoeber
Days before graduating from the University of Maryland with majors in Finance & Accounting, John realized he wasn’t cut out for the corporate world and wanted to achieve financial independence. That led him down to Real Estate investing where he currently uses his strengths of numbers and financial models to underwrite properties and manage his assets. He is also the host of his own podcast called the Millennials in Multifamily Podcast and has a free book called How to Analyze Big Apartments Building and Make them Feel Small.
John is one of the Founding Partners at Kronos Investment Partners, a Commercial Real Estate Investment firm. Kronos acquires, raises money for, and manages multifamily and commercial properties that are either in distress or have value-add components, and then either flips the properties or holds them for long-term cash flow.
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