ABOUT SETH TEAGLE
After 22 years in the fire service, Seth Teagle found himself working 800-1,000 hours of overtime annually to provide for his family. Once Seth discovered multifamily real estate, he went all in…. he went from Firefighter to Millionaire after his first apartment complex BRRRR. Seth is now the CEO of The Stream Group, a private investment group with 185M AUM as well as an education platform called Firehouse Bros.
THIS TOPIC IN A NUTSHELL:
[01:20] Seth’s background and how he started in real estate
[04:30] First few deals and flipping
[06:32] Why Apartment Syndication?
[07:35] Partnership on the first investment
[10:27] Dealing with Property management and vacancy
[12:12] Starting a Joint venture
[13:48] Getting into Syndication
[15:50] Mentorship with other syndicators
[17:39] His take on starting with SFH vs. bigger deals
[18:25] Benefits of Commercial real estate
[20:08] Finding the right partners
[25:03] Vertical integration with partners
[26:26] Plans in the current market and projects working on
[30:18] Why Strategic partnership has worked for him
[37:04] Ways to optimize Vertical integration
[40:30] Five cycles of entrepreneurship
[44:07] The real work after buying the deal
[48:00] Development projects and changes happening in their market
[51:10] Advice to his 25-year-old self
[51:41] First entrepreneurial endeavor
[52:29] Formal and informal training that shaped his journey
[53:40] The biggest mistake that shaped his journey
[55:30] How to reach out to Seth
KEY QUOTE:
[16:36] I knew I had to get in the same room with people who are doing bigger things, that could be my training wheels and that accelerated our growth exponentially. Rather than me keep trying to figure it out, let me just cut to the front of the line, pay the right people for their time, learn what they know and the mistakes they’ve made, and how they’ve done things.
[21:06] A lot of people are scared to partner but I’ve always looked at it that if it’s with the right person, I can go faster and sooner than I would’ve had by myself.
[22:19] Without strategic partnerships I would still be probably on my 3rd or 4th deal by now, it would have been just a lot slower.
[29:25] Instead of buying anything that makes sense and has a huge upside, we are looking at stuff now that’s a little bit less of a headache. The upside might be less, but the headache to get to that upside or the risk is a lot less as well.
[32:25] We’ve had a few people as potential partners where they sounded great, they knew what to say, they knew how to act, and then we get some background check and find out that we’re fourth in line to get hosed by them and that helps.
SUMMARY OF BUSINESS:
The Stream Group is a professional and vertically integrated real estate investment firm. Utilizing over 50 years of combined experience, our purpose is to create investment opportunities for those who understand the power of real estate. We provide these opportunities through syndications and equitable funds.
Firehouse Bros is our education platform where we teach both new and experienced investors. Our focus is on helping students become well-rounded investors and scale to levels they only dreamed of.
ABOUT THE WESTSIDE INVESTORS NETWORK
The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.
The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.
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CONNECT WITH SETH TEAGLE:
Website: https://www.thestreamgroups.com/
Coaching and Education platform: https://www.thefirehousebros.com/
Instagram: https://www.instagram.com/seth.teagle/
Facebook: https://www.facebook.com/seth.teagle
LinkedIn: https://www.linkedin.com/in/seth-teagle-bb1930b5/
CONNECT WITH US
For more information about investing with AJ and Chris:
· Uptown Syndication | https://www.uptownsyndication.com/
· LinkedIn | https://www.linkedin.com/company/71673294/admin/
For information on Portland Property Management:
· Uptown Properties | http://www.uptownpm.com
· Youtube | @UptownProperties
Westside Investors Network
· Website | http...