Ep #218: Delegate to Elevate your Multifamily Syndicate — with Dan Hanford

In this episode of Real Estate for Investing Cash Flow Podcast, Kevin Bupp invites Dan Hanford: real estate investment expert and principal at Hanford Capital, a multifamily real estate investing and syndication firm.

He is also the founder the Multifamily Investor Nation which has more than 34 groups and more than 2,000 members all over the world. In addition to that, Dan is also the president and founder of five specialty medical clinics in South Carolina.

Dan shares his entry point in the multifamily syndication space, how he manages his time juggling real estate and a successful medical practice, delegating work to his all-star team, and so much more--all at the young age of 36 years old.

Quotes:

"I think that one of the things I learned earlier on is that art of delegation."

"I'm a big believer that if you can't measure something then it's very hard to manage it."

"I look at syndication, the syndication space, and go, 'If you have a background in business and you can actually manage large budgets, then it's a pretty easy transition.'"

"I practice two things: I make sure I have a hard day's work and a clear conscience."

"I cannot control what happens to the market in the next few years, but I can tell you this: if something does happen in the market, I would rather my money be in multifamily or some form of real estate before I would want it in the stock market or mutual funds or bonds or things like that."

Highlights:

[08:38] How Dan let go of day-to-day management of his chiropractor practice

[10:19] Dan's strategic steps to ensure a solid entry to the multifamily real estate space

[20:20] Biggest challenges starting out and creating ancillary income streams

[37:34] Short to medium term predictions and anxieties about the business

[47:15] Advice Dan would give himself when he was starting out

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