How did a fitness enthusiast turn into a successful real estate investor and private lender?

 

Blake Selby leveraged his education to start a successful gym venture at a young age. He later sold this gym to fund a real estate startup, which has now grown into a flourishing business comprising acquisitions, private lending, and asset management. With no prior experience in real estate, Selby transformed a failing strip mall into a profitable venture, later transitioning into managing a portfolio of 300 homes. 

 

In this episode, we discuss how adaptability, negotiation skills, strategic foresight, and an insightful understanding of one's strengths and weaknesses can drive you to success in the world of real estate investment.

 

 

[00:01 - 13:15] From a Struggling Gym to Strip Mall to 300 Single-Family Units 

• Blake Selby's entrepreneurship began by purchasing a failing gym, revamping its programming, and successfully selling it to a gym chain for a substantial profit.
• Blake used creative strategies such as seller financing deals and no money down deals to purchase his first property - a strip mall with one paying tenant. 
• After successfully managing it, he increased its revenue from $2K to $9K per month. 
• How leveraging relationships can open doors for opportunities.
• Recognizing when to exit can yield significant profits.

 

 

[13:16 - 27:25] Finding Your Why for Wealth Creation 

• How Blake successfully managed a large portfolio of rental properties by creating an in-house property management firm.
• Blake found that being a property manager for others can offer additional business opportunities, such as wholesale deals, thanks to constant access to buyers and sellers.
• Bugs, Thugs, and Drugs; Lessons on the challenges of property management.
• Blake shares that his "why" for continuing in real estate is driven by a desire to gather wealth to explore other interests. 
• Recognizing and capitalizing on individual skills and strengths is crucial to success in any endeavor, and real estate investment is no exception.

 

[27:26 - 35:32] Optimize Your Returns with Private Lending

• Diversifying into private lending can be a strategic move in an oversaturated real estate market.
• Private lending offers an easier and potentially less risky avenue than traditional real estate investing if done conservatively and at scale.
• Understanding and wisely choosing your lending parameters, such as loan-to-cost ratios, can ensure the safety of your investments and manage risk effectively.

 

 

Connect with Blake Selby

 

Website: https://www.selbyrentals.com

Instagram: https://www.instagram.com/SelbyRentals/

LinkedIn: https://www.linkedin.com/in/blakeselby/

 

Key Quotes:

 

“I've got some pretty lofty ambitions, goals, and things that I want to accomplish. It's really not even about the money itself; it's what the money allows you to do.” – Blake Selby

 

"I just have so many ideas, and I'm not going to be able to get them all done in one lifetime. So, I need like 20 lives so I can explore all these different things. Maybe by then, I'll be satisfied.” – Blake Selby

 

“There's more that I wanna do in this life besides real estate, but I do end up focusing on real estate as a vehicle for wealth creation." – Sujata Shyam

 

 

WANT TO LEARN MORE?

 

Connect with me through LinkedIn.

 

Or send me an email at [email protected]

 

Visit my website, www.luxe-cap.com, or my YouTube channel.

 

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