#28: How To Get Started In Multifamily Investing with Spencer Cullor
Nov 13, 2019
Meet another of my successful students. Spencer Cullor is about to hit the 1,000 unit mark this year and recounts in this week's epsiode how he worked his tail off to get his first deal done. I remember it because I was his mentor through it. Now he lives a life that many people only dream of.
Spencer Cullor is a real estate investor, business owner, author, speaker, and current Director of Commercial Acquisitions. He has developed an extensive background in commercial, multifamily, and residential real estate. Spencer and I discuss how he got started in multifamily investing and how you can too!
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How To Get Started In Multifamily Investing with Spencer Cullor
Spencer had been investing in real estate on the side when he decided to jump in with both feet. In his first two years as a real estate investor, Spencer made 1/4 of what he made in the corporate world. Today, Spencer and his father are approaching 1,000 units.
How did someone go from making so little to owning close to 1,000 units? Spencer started small in his local area and branched out over time. He uses the forced appreciation approach where he creates value add for the properties he acquires, refinances the property, and uses the refinanced amount to purchase his next property... tax free.
In this episode you also learn:
- How Spencer acquired his first deal
- Why Spencer's father sold off his land
- How Spencer structures his deals with private investors
- Why Spencer recommends starting small
- The provision you MUST include in all contracts
Connect with Spencer:
Links mentioned in the show:
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