In this #Highlights episode, we look back at our conversations with successful real estate investors, Justin Elliott, Jenny Gou and Steven Louie. Justin shares his top lessons from his first deal, helping listeners to avoid beginner mistakes and more easily raise capital. His insights on building an investor list and creating efficient timelines will secure capital for your first and succeeding deals.
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Jenny takes us step by step into how she went from zero to 950 doors in 12 months and how they are now able to raise millions of dollars in a very short time. Steve shares his own valuable experiences and lets us into the amazing partnership that brought them this amazing success! Stop worrying about how to raise capital for your first deal. Just hit the play button, listen, learn, take action, and get ready for success!
Key Points From This Episode:
- How Justin learned about real estate.
- The importance of learning how to underwrite when making bigger deals.
- Why having a mentor on your team can help you land bigger deals.
- Finding deals through property managers.
- How Justin built and then developed trust with his investor list.
- How setting a firm timeline can get you fully funded before closing a deal.
- The importance of creating a backup plan or waitlist of investors.
- How Justin reduced their timeline for raising capital from eight to two weeks.
- Why Jenny and Steven left their great corporate W2 job they’ve had for a long time to get into real estate.
- Jenny’s four simple but very effective steps that led her to achieve amazing success with 950 doors and millions of dollars raised in a short time.
- How a coaching program or finding a mentor can help you accelerate quickly.
- What is the importance of building relationships in the field?
- What are people most afraid of doing that’s keeping them from achieving great success in real estate?
- How do Jenny and Steve complement each other and what is the impact of having a strong team on their success?
- How did they build a strong network of investors?
“You got to talk to a lot of people. Just open up your network. Tell everybody what you do right now because you will be surprised who invests in your deal.” – Justin Elliott
“I’ve met a ton of people who have done everything that I’ve done except for the last step, it’s because they just are afraid to leave. It’s just like this invisible line, but once you cross over it, it’s just the sky’s the limit.” -Jenny Gou
“I think the team approach is key, especially in syndication. In syndication, once you move into multi-family, they call it multi for a reason, you have to have a strong team.” -Steven Louie
Links Mentioned in Today’s Episode:
About Justin Elliott
Justin is a real estate investor and entrepreneur and has been investing in real estate since 2016 and having started with small multifamily. Today Justin has 65 units under management with another 170 under contract. He has also invested passively in 82 units. Justin focuses mostly on Class B and C value add in Minnesota and parts of the Southeast.
About Jenny Gou
Jenny is a Managing Partner at Vertical Street Ventures, which was established to help individuals achieve their financial goals through passive investing in real estate. As one of the Founders, she currently oversees Asset Management and Investor Relations. She focuses on Business Strategy and execution of the business plan as well as managing relationships and communications with investors. To date, Jenny has acquired a portfolio of over 950+ units across AZ, TX, and GA.
Before becoming a full-time Operator and Investor, Jenny was a Sales Director at Procter & Gamble for 13 years working on brands like Dawn, Cascade and Swiffer. She managed cross-functional teams on top accounts which included Costco, Walmart, Target, and more. Her overall experience in leading teams, strategy, and project management enables Vertical Street Ventures to be the best in the industry and make our communities a better place to live.
Jenny graduated from the University of Arizona with a degree in Business Management and received her MBA from the University of Minnesota. She is married to her husband Ronnie and has 2.5 kids (furry one included).
About Steven Louie
Steven is a Managing Partner at Vertical Street Ventures, where he is responsible for acquisitions, sourcing capital, and building key strategic partnerships. As the founder of Vertical Street Ventures, he focuses his time on revenue-generating activities for the firm through Multifamily real estate acquisitions.
Steven worked his corporate career in the Benefits / Consulting industry where he held various executive and sales leadership roles at Mercer and MetLife. As a Partner at Mercer, Steven was the Southern CA Office Leader for Mercer’s Health, Wealth, and Human Capital Consulting practices. Prior to Mercer, he worked for 16 years at MetLife, where he led the organization in Group Institutional Sales as a Client Executive and a Sales Leader. Steven started his career as a group insurance underwriter and graduated with a Finance degree from California State University Fullerton.
He has grown his Multifamily portfolio to over 2,500+ units across 4 states (AZ, CA, FL, TX) and has a keen focus on acquisitions and building key partner relationships across the market. In his spare time, he enjoys the “need for speed” as he shifts gears around a race track. Steven also enjoys vacationing with his wife, Rebecca, and two daughters.
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