In every business, it is important to have a profit. In a very competitive market like commercial real estate, you have to know several strategies to be able to secure that your business will have a profit. Today, we feature our conversations again with real estate entrepreneurs Daniel Holmlund and Terry Hale in this #Highlights episode.
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Daniel believes that his biggest obstacle is lack of education, which is why he works with others to understand the potential for investment, elaborating on the quantifiable projections for his fellow engineers and highlighting the obvious strengths and weaknesses when explaining to investors why they should invest in real estate. Meanwhile, Terry tells us why a shotgun approach isn’t the best use of your time, and why laser focus is a must if you want to achieve success. Click the play button now!
Key Points From This Episode:
- We hear from Daniel about his background and his transition into the syndication business.
- How Daniel learned about real estate by educating himself with people who were already in the business, working alongside them, and joining a group.
- Before you get started in syndicating, listen to podcasts, read books, then passively invest.
- Starting the real estate investment education club at Intel and helping others with their real estate journeys, as well as doing one-on-one coaching.
- Daniel’s biggest obstacle is one of a lack of education, rather than pushback from those he is teaching about real estate.
- Daniel makes sure to elaborate on the quantifiable projections and obvious strengths and weaknesses when explaining to investors why they should invest in real estate.
- Some of the questions to expect from engineers or those who were stuck in the stock market.
- The three biggest risk factors are usually going to be the sponsor, the area, and the deal.
- Terry shares his professional background and how he started his investing career.
- How Terry learned and became successful in his niche.
- Hear about Terry’s three-prong style of business.
- Some of the vital questions Terry asks himself and his clients.
- Why time is your most valuable asset and why you should avoid a shotgun investing approach.
“It’s a technically complicated area and so we really focus on trying to make it a clear avenue for people that have full-time jobs and to show them a clear way that they can get involved in getting their investments from Wall Street to Main Street.” – Daniel Holmlund
“One of the first things that you need to do, of course, have a clear vision of what you’re trying to do.” – Daniel Holmlund
“I recommend people listen to podcasts and read books first, to be honest. And then once they have an understanding of the process, then they can venture out a little bit further and yeah, I recommend that they passively invest in somebody else’s syndication. Somebody who has the track record, somebody whose track record you can dig into and investigate.” – Daniel Holmlund
“The reason why I got into real estate is that, as an engineer, I realized I could sit down and calculate out and look at someone’s five-year projection on a particular piece of property, and I couldn’t do that with my stocks. I said, “Well hey if I want to build a plan where I could retire then I need to start doing some projections so that I can actually understand where my money is and where it’s going.” – Daniel Holmlund
“We move forward. We tie up anywhere between a deal with three deals a week. It’s a massive amount of energy that goes into it.” – Terry Hale
“Time is your most precious asset. So if you’re out there and you’re working with projects and you don’t have really a laser focus and you’re more so like doing that shotgun approach, just kind of sporadic. It’s just going after all these different, as you mentioned, asset classes and different locations.” – Terry Hale
Links Mentioned in Today’s Episode:
About Daniel Holmlund
Joshua Sterling is the owner of Epic Property Management, LLC, as well as several other real estate entities based in Southgate, MI. After a career in aviation, he shifted into real estate in 2009 and his focus now is on medium and large-sized apartment communities in the Midwest. As of October 2019, he owns 650 units in Southeast Michigan and Northern Ohio worth more than $70 million dollars.
About Terry Hale
Terry Hale is an author of educational curriculums, and numerous trade, and business magazine articles, and has presented live seminars to over 200,000+ attendees across the nation for educational advisory services. Terry has been featured on CBS Radio, CNBC, and several syndicated radio broadcast networks as the leading authority in commercial real estate investing. Terry has over 20 years of real estate-related marketing, training, and teaching experience. Hale has been on several boards of directors providing Real Estate Education Programs and has assisted in negotiations, with years of diversified real estate experience. Terry’s commercial real estate training provides the techniques on how to find, pre-screen, evaluate, structure, and use negotiation tactics for repositioning and stabilizing commercial properties.
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