Today’s guest, Paul Thompson, shares his journey from transitioning out of a nine-to-five job to becoming a full-time real estate investor. Paul talks about how he scaled from single-family rentals to multifamily properties and how he leveraged access to other people’s money to fund his own projects.
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He dives deeper into the process of doing his own projects as a sponsor, launching a hard money lending fund and some tips for building relationships with investors. He also discusses the challenges of starting a fund and the current economic climate and how it is affecting the fund industry, so don’t miss it!
Key Points From This Episode:
- Paul shares about who he is and how he got into real estate investing from his nine-to-five job.
- What made Paul transition from single-family properties to finding opportunities in multifamily?
- Paul talks about how he got into hard money lending fund and started helping others fund their projects.
- The techniques Paul uses to get good at raising money and building relationships.
- Paul explains why he prefers to be a fund manager rather than a sponsor.
- Who are the people that Paul is lending to and the type of deals he’s looking to partner with.
- The challenges, pros and cons of starting the fund Paul has.
- Paul’s best source to meet new investors right now.
- The best advice of Paul for passive investors.
- The personal and professional metrics that Paul tracks.
- The number one thing that contributed to Paul’s success.
“I found a mastermind to be a part that focuses on training you to be a fund manager that was a kind of a shortcut or a hack that I feel like I paid a lot of money for, but it helps me get off the ground so much faster.” – Paul Thompson
“I’m genuinely looking for somebody who has a problem that has capital. And that problem is I need to earn yield, or I need to create cash flow, I need to grow net worth.” – Paul Thompson
“Buying a 40-unit apartment complex is not 40 times harder than buying a single-family unit. It’s harder but it’s not 40 times harder.” – Paul Thompson
“Balancing deals to money is why fund managers get paid, because they’re raising capital for it with a certain expectation and going finding a fit in the marketplace for that.” – Paul Thompson
“And if you’re in a market where the population is growing, and there’s net growth in jobs, then they need a place to live. And when you fundamentally offer a product that offers a nice, pleasant place to live, then you’re in a good place.” – Paul Thompson
Links Mentioned in Today’s Episode:
About Paul Thompson
Paul Thompson is a successful real estate investor and entrepreneur. He used his expertise in real estate to make the transition from the traditional nine-to-five work schedule to becoming a full-time investor. In just a few short years, Paul and his wife were able to turn their dreams into reality.
In addition to his own real estate investments, Paul is the founder of My Freedom Foundry and Next Level Mastermind, where he helps other real estate entrepreneurs grow and scale their businesses.
Through his companies, Paul shares his knowledge and experience with others and helps them achieve financial freedom through real estate investing.
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