Every real estate entrepreneur aims for one thing – to be successful in the business. And who does not what to be, right? In this episode, our guest Sam Wilson talks about crucial entrepreneurial skills and mentality that will help you grow and succeed in the business.
How to Start Investing in Multifamily Real Estate
If you’re interested in multifamily real estate but don’t know where to begin, our guide “How to Start Investing in Multifamily Real Estate” breaks down everything you need to know about identifying good investments plus real world examples. Download your copy in the show notes or visit lifebridgecapital.com/startnow to start your journey in multifamily real estate.
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Sam is an active investor in self-storage, parking, retail, multifamily apartments, RV parks, and single-family homes. Sam is also a podcast host and has a diverse background in business ownership, building construction, and management. Today, he discusses the “getting it done” and “failing forward” mentality which helped him and his business to move forward. He also emphasizes the need to be willing to go out and mess it up, to keep moving, and even the ability to say no. Click the play button now and be ready to take home a lot of wisdom!
Key Points From This Episode:
- Sam talks about his real estate business.
- Sam explains why he invests in multiple assets as an LP – to get different returns.
- Sam discusses his focus in real estate – self-storage, RV parks, multifamily apartments.
- Why do you need to be willing to fail forward?
- How did the “getting it done” mentality helped Sam to be successful?
- Sam emphasizes the importance of acknowledging that you will make a mistake and that you have to be prepared and recover from it.
- Sam encourages entrepreneurs to be prepared to be uncomfortable to grow.
- Why do you need to pursue discomfort?
- How do you say “no” to things and why is it an important entrepreneurial skill?
- Sam explains why he continues to invest in multifamily and self-storage syndications.
- How does Sam prepare for a downturn as an LP and as a GP?
- Sam’s best source for meeting new investors – launching a daily podcast.
- How is Sam disciplined to do a daily show?
- The daily habits that helped Sam to achieve success.
- How does Sam like to give back?
“As an LP, it (investing in multiple assets) is a great strategy. You wanna invest in different asset classes.” [0:03:35]
“I would say that one strength I have is being willing to fail forward.” [0:05:40]
“Things are gonna get wrong, things are gonna get sideways, you’re gonna make a mistake on the inspection, you’re gonna make on investor communication, things are gonna go wrong and you just gotta have to learn from those and pivot.” [0:06:19]
“Get out and just do it.” [0:07:38]
“If you want to revolutionize your life, you’ve got to start with doing 3 top 5 things that make you uncomfortable and go do them.” [0:09:55]
“Let me focus on what I am good at, that’s why I say no is more powerful than yes.” [0:13:49]
Links Mentioned in Today’s Episode:
About Sam Wilson
Sam is an active investor in self-storage, parking, retail, multifamily apartments, RV parks, and single-family homes. He hosts the “How to Scale Commercial Real Estate Podcast”, where he interviews real estate experts to give listeners the tips, tools, and tricks to scale their investment portfolio.
Sam holds his bachelor’s degree in business finance from the University of Memphis and holds his real estate license in Tennessee. In addition to his years of real estate experience, he also has a diverse background in business ownership, building construction, and management.
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