There are many asset classes where you can invest in real estate. But, if you are looking for an asset class with lesser competition, then you might want to check out land investing. In this episode, we pick the brain of real estate investor Dan Haberkost.
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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Dan gives us nuggets on land and business development business and how he finds this a good investment. Dan also talks about his active and passive investments which he successfully sealed at just 25 years old. He shares how to look for inefficiencies in any market and how to apply that to other industries. Click the play button now and unravel the potential of land investing!
Key Points From This Episode:
- Dan talks about his active and passive investments.
- At 16 years old, Dan managed rentals for his boss who traveled the world, and while in college, he ran a landscaping business full time.
- How did Dan’s first job influence him to go into real estate?
- What gave Dan the desire to be working even at such a young age?
- How does Dan plan to instill the idea of hustling to his future children?
- Dan explains why real estate is a cash-intensive venture.
- How did Dan raise the fund for his first real estate investment?
- Why did Dan venture into the land and development business?
- Dan talks about buying land, zoning, and courses.
- Dan details how he found his mentor which kick-started his land and development business.
- What are the systems that Dan uses in his land and development business?
- How to find the best land to invest in?
- Dan shares about the team behind his business — how he found them and how he built the team.
- What is the most challenging part for Dan in running his land and development business?
- How does Dan prepare for a potential downturn?
- Dan says land does cash flow if you do it right.
- The daily habits that helped Dana achieve success.
- The number one thing that contributed to Dan’s success — consistency.
- How does Dan like to give back?
“I also had the realization that this (real estate) is a cash-intensive venture and being able to make a lot of money, whether it’s through a high paying W2 or some sort of business, it works a lot better than trying to build a portfolio off of a marginal income.” [0:04:34]
“Early on, I equated money more with freedom. I didn’t really want things. I just wanted to have control over my time.” [0:06:53]
“If you’re getting started, get really good at one sort of marketing, don’t try and do 10 different things at once.” [0:19:12]
“And so, really, growing and progressing has largely or can largely be attributed to changing the mindset, getting a little more positive in my thinking, and not so scarcity-minded.” [0:22:14]
“Land does cash flow if you do it right.” [0:27:58]
Links Mentioned in Today’s Episode:
About Dan Haberkost
At the age of 25, Dan Haberkost has managed to build an impressive real estate business & portfolio that allows him the freedom to live & work where he wants while spending a tremendous amount of time in the mountains and on the beach.
Dan’s first foray into the world of real estate investing was as a teenager when he managed a portfolio of properties for his employer at the time, while still in high school! Dan took the lessons he learned from these early experiences and brought them into his own business allowing him to shorten the learning curve and make an enormous amount of progress in just a few years which has given him complete freedom in his mid-twenties.
Dan wants to share his experience and insight with others in the hopes that his story will motivate and inspire them the same way he was inspired by so many podcast guests before him!
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