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Commercial Real Estate Investing: How To Go From Zero to Millions, with Reed Goossens, Ep #16
Commercial Real Estate Investing: How To Go From Zero to Millions, with Reed Goossens, Ep #16
Have you ever thought about commercial real estate investing, but you have no experience? You will want to pay close attention to this episode. Reed Goossens, a structural engineer from Australia came to the United States with no commercial real estate experience. In five short years he has an investor list of thousands of clients and control over 70 million dollars in real estate. In this episode, he talks about how he broke into commercial real estate investing. Listen along and learn why Reed says that if he can do it, so can you!
The power of other people's moneyMany times one doesn't have the money to go out and buy commercial real estate. Reed learned early on that going to friends, family, or a mentor to come up with capital is necessary for getting in the game. He raised smaller amounts of money for his mentor's deals and then began to build a network of investors. By doing this, he created a group of people who were primed to do a deal when one came up. In his interview, he explains how you can start building your database by simply looking through your phone contacts for people to reach out to as investors. It is simply about building a network.
Why you need a mentor to get started in commercial real estateReed started out on a smaller scale, raising money for his mentor's project. Not only did this get him experience, it helped build credibility in the field. Starting with a small chunk of someone else's commercial real estate investment deal allowed him to build a network of people with no risk. Though being a mentee is not where all the money is made, Reed says that it helps to get a foot in the door. It proves to yourself, investors, and your network that you can do it! Having a positive track record on someone else's deal allows you to start small.
How to find and connect with investorsIf you want to connect with investors, you need a compelling story. What makes you different? Reed talks about what made his story unique: giving up everything to move to a foreign country without a job. He says to harness your journey so that people want to know more. Your story enables you to develop rapport and trust with investors.
Reed also explains you should have a dialogue with investors. You don't just tell your story, you need to interact with your database. Reed says how he used monthly newsletters and in-person meetings to further develop investor relationships.
Find your niche and go from thereEarly in his commercial real estate journey Reed saw the need to find a niche and own it. That is why he started his own podcast: "Investing in the US." When he started the show, there was no other podcast speaking to international investors on how to invest in the United States. He was the sole influencer in this area. By finding this niche, he created an audience where he was the only voice.
Reed realized that this was not the only area of the market he could speak to. Once he owned that niche, he moved to another. Not only does he speak to international investors about investing in the US now, he has also broadened his spectrum to simply investing in the United States. By doing so, he continues to expand to new audiences and broadens his database. He encourages the listener to also find a niche to help them become influencers as well and create groups of people who would be willing to invest.
In This Episode Reed Goossens says...
- [4:18] How he transitioned from a structural engineer to a real estate investor
- [6:25] Australia has multiple barriers to entry that the United States does not have for multifamily investing
- [8:27] Explanation of nonrecourse and recourse for lending
- [11:41] The power of other people's money and how to use it
- [12:35] The importance of having a mentor and riding on his coattail
- [19:36] Scaling is necessary - each member of the team should focus on what he is good at
- [23:00] You are not born with years of experience, you must create it.
- [30:37] The importance of building a network of people who will be primed to do a deal when one is ready
- [40:20] Reed explains equity for his general partnership
- [42:45]Find a niche and be ready to pivot to a new one
- [email protected] - Learn to be an asset manager and Investor
- Bellwether Enterprise(sponsor) - contact Will Oldham [email protected]
- www.ReedGoossens.com
- Investing in the US Podcast: https://soundcloud.com/investing-in-the-us
- [email protected] or Info (@) ReedGoossens.com
- To invest with me go to www.TwoBridgesMgmt.com/investors
- To learn from me go to www.MultifamilyLaunchpad.com
- Join my free Facebook community
Subscribe to REAL ESTATE LAUNCHPAD onApple Podcasts|| Google Podcasts|| Android|| SpotifyStitcher|| TuneIn Radio|| Google Play Music
View all episodes
By Jonathan TwomblyCommercial Real Estate Investing: How To Go From Zero to Millions, with Reed Goossens, Ep #16
Have you ever thought about commercial real estate investing, but you have no experience? You will want to pay close attention to this episode. Reed Goossens, a structural engineer from Australia came to the United States with no commercial real estate experience. In five short years he has an investor list of thousands of clients and control over 70 million dollars in real estate. In this episode, he talks about how he broke into commercial real estate investing. Listen along and learn why Reed says that if he can do it, so can you!
The power of other people's moneyMany times one doesn't have the money to go out and buy commercial real estate. Reed learned early on that going to friends, family, or a mentor to come up with capital is necessary for getting in the game. He raised smaller amounts of money for his mentor's deals and then began to build a network of investors. By doing this, he created a group of people who were primed to do a deal when one came up. In his interview, he explains how you can start building your database by simply looking through your phone contacts for people to reach out to as investors. It is simply about building a network.
Why you need a mentor to get started in commercial real estateReed started out on a smaller scale, raising money for his mentor's project. Not only did this get him experience, it helped build credibility in the field. Starting with a small chunk of someone else's commercial real estate investment deal allowed him to build a network of people with no risk. Though being a mentee is not where all the money is made, Reed says that it helps to get a foot in the door. It proves to yourself, investors, and your network that you can do it! Having a positive track record on someone else's deal allows you to start small.
How to find and connect with investorsIf you want to connect with investors, you need a compelling story. What makes you different? Reed talks about what made his story unique: giving up everything to move to a foreign country without a job. He says to harness your journey so that people want to know more. Your story enables you to develop rapport and trust with investors.
Reed also explains you should have a dialogue with investors. You don't just tell your story, you need to interact with your database. Reed says how he used monthly newsletters and in-person meetings to further develop investor relationships.
Find your niche and go from thereEarly in his commercial real estate journey Reed saw the need to find a niche and own it. That is why he started his own podcast: "Investing in the US." When he started the show, there was no other podcast speaking to international investors on how to invest in the United States. He was the sole influencer in this area. By finding this niche, he created an audience where he was the only voice.
Reed realized that this was not the only area of the market he could speak to. Once he owned that niche, he moved to another. Not only does he speak to international investors about investing in the US now, he has also broadened his spectrum to simply investing in the United States. By doing so, he continues to expand to new audiences and broadens his database. He encourages the listener to also find a niche to help them become influencers as well and create groups of people who would be willing to invest.
In This Episode Reed Goossens says...
- [4:18] How he transitioned from a structural engineer to a real estate investor
- [6:25] Australia has multiple barriers to entry that the United States does not have for multifamily investing
- [8:27] Explanation of nonrecourse and recourse for lending
- [11:41] The power of other people's money and how to use it
- [12:35] The importance of having a mentor and riding on his coattail
- [19:36] Scaling is necessary - each member of the team should focus on what he is good at
- [23:00] You are not born with years of experience, you must create it.
- [30:37] The importance of building a network of people who will be primed to do a deal when one is ready
- [40:20] Reed explains equity for his general partnership
- [42:45]Find a niche and be ready to pivot to a new one
- [email protected] - Learn to be an asset manager and Investor
- Bellwether Enterprise(sponsor) - contact Will Oldham [email protected]
- www.ReedGoossens.com
- Investing in the US Podcast: https://soundcloud.com/investing-in-the-us
- [email protected] or Info (@) ReedGoossens.com
- To invest with me go to www.TwoBridgesMgmt.com/investors
- To learn from me go to www.MultifamilyLaunchpad.com
- Join my free Facebook community
Subscribe to REAL ESTATE LAUNCHPAD onApple Podcasts|| Google Podcasts|| Android|| SpotifyStitcher|| TuneIn Radio|| Google Play Music