306: How to Go From a Few Units to Over 1,000 with Monick Halm
11.29.2018 - By BiggerPockets Real Estate Podcast
Are you looking to take your investing from casual to serious someday? Have you ever thought about what it would take to own thousands of units without having real estate run your life?
Well, you’re in luck! On today’s show, we interview Monick Halm. Monick’s story will blow you away as she shares how she went from house hacking a duplex in L.A. to owning over one thousand units! Monick’s super simple system for finding others to partner with and invest in her deals has allowed her to scale without creating an overwhelming amount of work for herself.
You’ll be amazed at Monick’s super simple formula for using the “three Cs” to find partners, her tips for raising private money naturally, and the effortless way she scales her investing. Do NOT miss her seven step criteria for choosing a new market and how to evaluate an area to find where it is in the market cycle (including which point you want to jump in at). Monick’s story is creative, encouraging, and inspiring to investors of all levels. Don’t miss out on this show filled with practical advice today!
In This Episode We Cover:How Monick bought at worst time to get into real estateHow she partnered on her first house with a friend and each lived in one side (unique and creative house hacking technique)How she met Robert Helms of the Real Estate Radio podcast and it changed her thinkingHer “Three C” system for evaluating potential partners to work with: Character, Commitment, CapacityHer 7 criteria for choosing a market to invest in: Population growth, Job growth , Diversified economy, Landlord friendly, Business friendly, In the right part of the market cycle (rising market), FamiliarityHow she ramped up her business by getting into syndicationWhy finding “business friendly” markets will help ensure you have a healthy tenant poolThe four stages to a market cycle (and which one you want to look for when deciding when to jump in)How she developed land to create an awesome RV park to satisfy a market with massive rental demandAnd SO much more!Links from the ShowBiggerPockets ForumsBecome a Guest at the BiggerPockets PodcastThe Real Estate Guys RadioFlip or Flop (TV Series)Secrets of Successful SyndicationBooks Mentioned in this ShowRich Dad Poor Dad by Robert T. KiyosakiSet for Life by Scott TrenchTurning Pro by Steven PressfieldThe War of Art by Steven PressfieldFire Round QuestionsWhere to start a syndication?When starting out what was the best way to find partners?Tweetable Topics:“Relationship is very crucial in real estate investing.” (Tweet This!)“Great talent does not cost you money; it makes you money.” (Tweet This!)“Definitely, we’d have not gone where we are now if we were doing this alone.” (Tweet This!)“Your network is your net worth.” (Tweet This!)Connect with MonickMonick’s BiggerPockets ProfileMonick’s Personal WebsiteVIP Assets