San Francisco Summit Sunday Wrap-Up

I talked about Saturday in this other post. I really didn’t think that Sunday could be Saturday. But it did! It blew my mind and changed my plan moving forward. That is value!

Sunday's Agenda
Sunday’s Agenda

Finding Deals and Marketing

Aaron Mazrillo, Jerry Pucket, and Gary Digrazia Sr.

Finding Deals Panel
Finding Deals Panel

What an amazing panel to start the day off with. Gary spent a lot of time talking about his Probate business and how it is a great way of attracting leads and interest in selling. But also underscored how difficult it can be. Aaron and Jerry talked about traditional wholesaling business. Flippant remarks, harsh insight, and plenty of detail on how to find probate deals. Jerry and Aaron have a great relationship that works well together when they are on a panel. Wholesaling is where most investors start, but it’s a lot harder than what the Guru’s claim it to be. What we didn’t get out of this were any hard actionable steps to take, other than as Aaron said, “Give Jerry your Credit Card number and let him do it!” Actually that seemed like Aaron’s theme for the panel.

Walk-Away Tip: You have to spend money, the more you spend the more you find.

Development and Crowdfunding

Bryan Hancock

Q&A Session with Bryan Hancock
Q&A Session with Bryan Hancock

A great Q&A session about how crowdfunding works, and some different platforms to host the crowdfunding. It’s pretty interesting to hear about it all. But I think for most active investors it’s not the way to go unless you are going to be a sponsor or doing a deal. I’ve found that most active investors are not accredited investors, they are hungry and don’t want to sit back passively and watch their investments grow. They want to work actively to make it grow. One of the great things about Bryan and his Q&A session was that he delved pretty deep into some of the details of Crowdfunding and really shared some information about the process.

Walk-Away Tip: I have a lot to learn about Debt vs. Equity investment attraction techniques.

Raising Capital & Finding Partners

Bryan Hancock, Brandon Turner, and Brian Burke

The three B’s! Each member of the panel shared their insight on how they found partners and got started and how they continue to find partners and keep growing, both Bryan and Brian are at the outside stratosphere of Raising Capital attracting millions of dollars of capital requiring SEC filings and all kinds of legal paperwork. Brandon talked a bunch about how he worked with partners and how they all came from his personal network. Everyone is desperate to learn how to build networks, partnerships, and to find money. It’s how we grow as investors. It was pretty fantastic that this didn’t turn into a large Q&A about specifics, because you can’t be that specific with partnerships, each one is going to be different.

Walk-Away Tip: Document everything. Keep records and build a track record.

Wholesaling & Beyond

Aaron Mazrillo

Aaron and his Hilarious Powerpoint
Aaron and his Hilarious Powerpoint

I have a new hero. This guy is absolutely amazing and I’ve never been so enthused by a speaker. So many words to say about him it’s impossible to actually write anything. His power-point presentation was not much more than what you would have gotten going to see a Guru speak before you buy the boot camp. Just a long string of deals that he’s done and how he got into and out of the deals. Showing how there are so many strategies and exits in a wholesale deal that you can do anything! His mindset is powerful and charged the room. If you ever get a chance to listen to Aaron take it! Travel to see him. After his speech he got cornered by half the summit members trying to pick his brain and get more information on the things that he was doing. Don’t be fooled though, he makes it sound easy in his speech, but it’s a hard job.

Walk-Away Tip: Just do it.

Multifamily & Commercial

Brian Burke, Brandon Turner, and Mike Sarwari

Multifamily Panel
Multifamily Panel

Two guys holding 100’s of units and doing value-add plays. And one small multi-unit player. Hearing their different approaches into getting into Multifamily was pretty amazing and hearing of their feats was pretty cool too. However, I felt as if there was a lot missing on this panel discussion. After a long weekend it sounded a lot more like, me, me, me, me. It would have been great for the focus of this panel being how to transition into multifamily. A lot of investors never make it past SFH investing. Banks maybe more willing to lend on big properties but they want to see experience. They want to see a lot of things past the investors private investing success. It’s a big business and speaking about the transition would have been so powerful. Too many investors are afraid of the price point that apartments start at, and they get intimidated by the processes. It’s safer and easier to be a SFH player. There were some questions about “flipping” apartments and how it is one of the most powerful moves in Real Estate that can generate huge returns, but nothing on how to find, or identify those properties.

Walk-Away Tip: Commercial is way better then SFH and can produce much greater returns.

Lending

Jeff Pollock and Jeff Lussier

I’ve got no data on this speech, I was working the room and making last-minute networking connections to attend this panel discussion. But Lending is very important aspect of Real Estate Investing, and I hope the covered things like how to get creative, and how to present yourself to a lender to get done what you need to get don’t.

VRBO & AirBnB

Lisa Loud, J Martin, Al Williamson and Evan R

With the project that I am working on now, and the excitement that J Martin brings to his AirBnB experience it was hard not to want this panel discussion to go well. Lisa talked about the exciting prospect of corporate rentals. J talked about AirBnB and Evan stunned us all with great data about the industry! Al Williamson talked about shared space rentals. Personally, there is too much changing too rapidly in the AirBnB space and I don’t think there is enough protection that a landlord can have when doing these short-term couch surfing type rentals. The cost is super high too. Shared long-term rentals to Nurses, Doctors and Students is an interesting concept. As is corporate housing. The great thing behind these ideas is that you can double to triple your monthly rental rates. The catch is, you must be in the sub-market that is desirable to these types of situations.

Walk-Away Tip: Location, Location, Location.

Sunday Wrap-up

It was kind of disappointing that a lot of the speakers vanished during the VRBO panel discussion and didn’t hang around afterwards to keep connecting. It can be forgiven though for how great the weekend was, and I know I was exhausted and ready to make the trek home. All-in-all if you didn’t make the trek out to this huge event you missed out. I hope that J takes the success of this Summit and continues to build it out into something absolutely amazing every year.

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