Paul Shannon spent his career as a sales leader and consultant for a large ophthalmology company, implementing surgical devices into operating rooms and health systems across the midwest. Since leaving his corporate career in 2019, Paul has invested heavily in real estate, completing dozens of rehabs on single family, duplexes and quads, to sell as flips, keep as rentals, or sell turnkey. His most recent acquisition was a value-add, 40-unit apartment in Evansville that is currently undergoing a reposition. Paul has experience in acquisitions, raising capital, property management, project management, and is a licensed Realtor in Indiana. Along with being active in his business, Paul is a passive, limited partner in over 1,400 multifamily units, numerous industrial offerings, and ATMs.
In this episode, Paul dives deep into how he has been able to raise cash from investors, raise capital, and also keep 100% of the equity. Paul shares with us some very actionable steps that you can try if you are thinking about transitioning from corporate to doing real estate full time, the importance of networking and building relationships, as well as the importance of capitalizing real estate opportunities. All these and so much more on this episode, so make sure to listen until the end!
[00:01 - 19:24] Introducing Paul to the Show
- I give a preview of the episode
- Paul shares about his background
- What Paul did to enter the world of real estate
- Transition from corporate to doing real estate full time
- The difference between doing real estate as a side hustle vs. doing it full time
- The importance of connecting with people and always learning about the industry
- Being passionate about what you're selling
[19:25 - 35:00 ] Recycling Capital and Retaining Equity
- Staying in touch with people and building relationships
- Finding better alternatives to banks and lenders
- Importance of having different options and capital available
[35:01 -47:40 ] Capitalizing on Real Estate Opportunities
- From single family to multifamily
- Actionable tips for the listeners to get into real estate
- Trying out things and figuring out what you want to focus on
- Conversations around interest rates
- Growing your current portfolio
[47:41 - ] Pod Decks and The Core Four
- Pod Decks
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- What tattoo would you get?
- Would social media be more or less popular than it is now if people were required to post about the bad stuff as well?
- Core four
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- Favorite real estate book
- Unique skill that helps you be successful
- Something true about real estate that nobody agrees on
Resources Mentioned:
- The Hands Off Investor
- The Definitive Guide to Underwriting Multifamily Acquisitions
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Key Quotes:
"The only thing stopped me right now is time and my complete focus towards this business." - Paul Shannon
"Envision what you want your life to look like. Before you decide what you want to do in real estate, you have to figure out what makes you happy, and what your ultimate life would be. And then you have to fit real estate into that." - Paul Shannon
Connect with Paul on LinkedIn or check out his website at www.redhawkinvesting.com!
You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube
You can also email me at [email protected]
For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com
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