In this #Highlights episode, we reflect on our conversations with Mark Davenport and Oscar Buendia. Find out what helped them break free from their fears and limiting beliefs and pushed them to invest in real estate and succeed in it!
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Sometimes, it takes finding yourself in a situation where your back is against the wall, with no other option but to decide for yourself and choose whether to crush your limiting beliefs or let them crush you. And when you find yourself in such a place, that is when you will truly know whether you have it within you to get it done or not.
Key Points From This Episode:
- The key to being aggressive in investing.
- How to not let your fears motivate your actions.
- How to handle your fear of purchasing a property, getting the deal, or scaling.
- Fear is the real challenge.
- What taking a risk looked like for Mark and how was able to scale because of it.
- The advantage of working with a local bank to finance a local property.
- The first action step to break free from your limiting beliefs in investing.
- How small multifamily exposed Oscar’s limiting beliefs.
- Having true mentors is a key to breaking free from limiting beliefs.
- Systems Mark and Oscar have established that helped them scale.
- How Oscar found his top-notch VA.
“The bigger things are all internal.” –Mark Davenport
“The real challenge was fear because I was afraid. I was like, ‘What if I lose thousands of dollars because this deal doesn’t close?’ Really, actually, even underneath that, it’s a mind game.” –Mark Davenport
“The moment you get in a situation and your back is against the wall and you want to make it happen, if you truly want to make it happen, you will, right? If not, then it’s not meant to be and that’s okay because another opportunity will come.” –Oscar Buendia
“[Getting coaches] to me has been instrumental because it’s changed also our level of sophistication.” –Oscar Buendia
Links Mentioned in Today’s Episode:
About Mark Davenport
Mark Davenport and his partner, Phoebe, got started in real estate when they bought a single-family fixer-upper in NH in 2009. Halfway through renovations, they had an epiphany – ‘let’s not work to pay a mortgage for the next 30yrs… let’s build passive income through real estate instead’. So, they finished that single-family renovation, sold the property, and worked on a foreclosed duplex. Next was a fourplex. Nine months later, both were sold and two six-unit buildings were on the books, along with a three-unit and another foreclosed duplex. Having relocated from NH to Brooklyn, they optimized these buildings through new management and renovations. Now living in Kansas City, Mark and Phoebe have made another leap by selling their NH portfolio of 18 doors and investing in a 73-unit tower and a 33-unit historic repurposed hotel.
About Oscar Buendia
Oscar Buendia is an active duty Captain, in the United States Air Force, and has served for the last 13 years. He initially enlisted in 2007 and was commissioned as 2d Lt in 2012. Currently Stationed at Peterson AFB in Colorado Springs, CO, he fully pursues his dream of owning and operating multi-family real estate and helping others achieve their financial freedom goals. He currently owns and operates 22 units worth $1.5 Mil.
Oscar has been investing in real estate since 2013. He initially attempted different real estate strategies such as wholesaling and fix & flip with a local area group. Quickly, he realized that this was not his niche. In 2017, he went the buy-and-holdd route and purchased his first duplex. For this, he was able to buy below market value, do a minor rehab and force appreciate the asset. This opened his eyes to the benefits and long-haul journey to financial freedom.
In 2019, Oscar partnered up with his brother German, initially intending to purchase a few properties in Ohio. That soon changed when they found a 20-unit rental portfolio. From there they networked and problem-solved their way to buying this portfolio. Currently, they are working towards stabilization and then the disposition of assets. Their eyes were open to how to scale to larger assets, and from there they have set their eyes on raising capital and apartment syndication.
Beginning early 2020, Oscar has now co-founded two companies with German, REI Brothers, and GoodDay Capital. The first company started was the social media outreach and education platform, where showcased are their podcast, blog, and projects. The second company developed was their Real Estate Investing Firm to syndicate apartment buildings.
Throughout his years in the military Oscar has learned about leadership, discipline, grit, and the ability to problem-solve complex situations. Oscar earned a Bachelor’s Degree in Communications from Kean University and an MBA from Liberty University. He is married to his lovely wife, Arielle, and they have two amazing boys Julian and Luca. As a family, they are passionate about traveling, seeing the world, and helping others achieve financial freedom through real estate.
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