Starting with a single-family rental five years ago as a side investment to a W2 job, former IT engineer, now Lakeline Properties founder Joel Fine is now a general partner in 1100+ doors, a key principal or limited partner in 7000+ doors across seven states, and a principal in ground-up development projects. The key to his spectacular rise from a small start-up to a big scale-up in real estate investing? Finding the right partners to work with.
Our Gracious Sponsor
What is Agent Ignite?
Are you wondering how you can make more money AND create a competitive advantage for yourself, and your clients, in this ever-competitive real estate industry? Agent Ignite is the key to furthering your knowledge, establishing your expertise, and positioning yourself as a go-to expert. We deliver new and relevant knowledge so you can expand your clientele, close more deals, and ultimately increase income. Each month features a new guest speaker who will deliver on what is most relevant for your business.
As a member of DMAR’s Market Trends Committee, an avid champion for building wealth through real estate, and a self-proclaimed data geek, Nicole will share market trends and commentary that will add value to you and your clients. Staying up to date on industry statistics coupled with niche topics delivered by industry experts will help you motivate your buyers and sellers, and make you more money!
Sign up for the next Agent Ignite session at TheRuethTeam.com/events.
Watch the episode here:
Listen to the podcast here:
Joel attributes his success to his remarkable collection of partners. He says in each of his past projects, he has teamed up with distinguished, expert investors to find, fund, and buy assets with excellent profit potential. Hear Joel talk about the pathway he took to achieve success in multifamily investing. Click now to listen and learn some valuable insights.
Key Points From This Episode:
- Joel’s professional background in high tech and IT as an engineer.
- Buying his first real estate investments (single-family rental and duplexes) as a side gig.
- Joel self-educates on real estate investing through reading books, listening to podcasts, going to meet-ups.
- He discovers syndication and made his first investment as a passive investor.
- Joel deep-dives into learning syndication from his deal syndicators while continuing passive investments.
- From a dozen passive investments to his first syndication deal as a sponsor.
- Finding the right partners: a key to success in real estate investing.
- How adding value to others brings on partnerships and deals?
- How Joel’s able to trust his co-sponsors in investing?
- How the syndication model became an eye-opening experience that unlocked big value and a new path for Joel?
- Joel’s outlook into the real estate industry’s future and his preparations for a downturn.
- Ways that Joel improves his business and how he meets new investors.
- Why Joel loves the unstructured nature of the real estate business?
“Pairing up with people who know the business better than I do, and have more experience and maybe can open more doors, that’s been a key to my path forward.” [0:04:44]
“You’ve got a deal and no money, I’ve got money and no deal, I think we could make something happen here.” [0:07:52]
“I was in a position to write those checks and they were not, and so that was how we add value to each other as they brought the deal, I brought the money.” [0:08:14]
“It’s a cliche that real estate is a team sport, but it’s a cliche because it’s true.” [0:11:18]
“I hate losing more than I like winning so I’d like to be conservative.” [0:18:18]
“One of the things I love about what I do now is it’s so unstructured. I can approach it any way I want. Every day is just a new set of tasks and challenges and things. And now that I’m my own boss, I don’t have a W-2, when I feel like taking a day off, I just block my calendar.” [0:24:58]
Links Mentioned in Today’s Episode:
About Joel Fine
Joel Fine is a full-time real estate investor, syndicator, and land developer based in Austin, TX. He is a General Partner in 1000+ doors; a Key Principal or Limited Partner in 7000+ doors across seven states; and a Principal in ground-up development projects spanning 30 acres in the greater Austin area. His astute business expertise developed over a 30+year career in high tech as a business owner, entrepreneur, executive, program manager, and engineer. He is a father of four phenomenal young adults and husband to a fantastic supportive wife.
Love the show? Subscribe, rate, review, and share!
Join the Real Estate Syndication Show Community: