When you are running a real estate business, there are a lot of things to take into consideration. Among them is managing the business well. For some operators, this means hiring third parties or management companies to help them with asset or property management. But, for this real estate investor, he is doing all the management on his own. He is David Grabiner of Lubono Capital.
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Today, we speak to David and he tells us that self-managing commercial real estate is possible. One reason why he chose to self-manage is minimizing expenses. He also talks about building your own team to help you manage your properties and how he is syndicating commercial real estate. David’s way of giving back – he created a program called From Homeless to Homeowner.
Key Points From This Episode:
- David shares how he started investing in real estate in the US and the Congo.
- Why is going directly to the listing agent advantageous?
- David explains why having a partner that you can trust is key to being able to continue investing in real estate while overseas.
- Why does David prefer to self-manage his commercial real estate?
- Managing commercial real estate vs. managing multifamily.
- David talks about building his team to help him manage his commercial real estate.
- What are the things that help David to be able to self-manage his own properties?
- David talks about syndicating commercial real estate.
- The critical things that David can do because he is self-managing – keeping expenses down and leasing.
- How does David prepare for a downturn?
- David’s prediction in the real estate market over the next six to twelve months.
- Why do you need to have access to capital at all times?
- David’s best source for meeting new investors – networking.
- The number one thing that helps David achieve success – determination.
- How does David like to give back – homeless to homeowner programs
“That was definitely a key – having a partner that I could trust.” [0:04:55]
“I’m gonna manage it myself, I’m gonna use that income to live, and I’m gonna grow this by being completely plugged in.” [0:05:30]
“Sometimes if you put in that time, effort, and grind in the beginning, you can really free yourself from a W2 job a lot quicker. And, I won’t be able to do that if I wasn’t self-managing.” [0:05:49]
“Commercial is a lot less management intensive than multifamily.” [0:07:45]
“We need to be prepared (for a downturn). And by prepared, I mean having access to capital, whether that means cash, whether that means a line of credit, whatever it is, you have to have access to capital at all times to weather the storms.” [0:24:18]
Links Mentioned in Today’s Episode:
About David Grabiner
David Grabiner is an innovative real estate investor. He posts practical real estate advice as the @diy_landlord on Instagram and has helped many investors improve their real estate portfolios. Beginning while living in the Congo with $12,500 and a single quadplex in 2014, his Chattanooga real estate portfolio is now valued at over $26,000,000 with over 170 units and several large commercial properties which he self manages. David worked with the World Food Program in Zambia, and managed a thriving hospital in Congo. The skills learned in those settings enable him to bring a fresh perspective to changing economic times. David currently lives in Tennessee with his wife Eliana and their four children.
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