Since 2007, Jeff Greenberg has been investing in multi-family assets in emerging markets. An MBA with over thirty-five years experience in management, staff supervision, development, and training, Jeff started real estate investing while employed full-time in a demanding job. Jeff focuses on acquisitions, investor relationships, contract negotiations, business systems development, business management and asset management. In this episode Jeff shares how, with limited time, he carefully evaluated and selected properties that would yield the highest return on investment to set the foundation for the retirement of his dreams.
What You Will Learn:
More about Jeff Greenberg
Jeff’s interest in the real estate business was triggered after he went hiking with a friend in 2005. His friend mentioned that he was getting into real estate and as Jeff inquired further, he realized that there was so much more to this type of business than he had imagined. What also peaked his interest was that after his divorce, he had no funds for retirement, and he felt that this was a viable solution to that problem. He explored the market trying to find out exactly what he would be interested in doing and what niches would be best for him.
For more information on Jeff Greenberg visit: www.synergeticig.com or email Jeff @synergeticig.com
Courage to Continue
He courageously tried investing in single family homes, fix and flips through foreclosures ,and REOs during the economic crisis of 2007 but this would prove to be a bad time for such a move. However, Jeff was not daunted. Although he never did a single flip at that time and the only single family property he acquired was his own, when he was introduced to multi-family investing, he jumped in with excitement, making his first multi-family investment in a 20 unit property and has not looked back since.
Understanding the Dynamics of Investing in Real Estate
As you listen to this program, you will acquire a wealth of information about the dynamics of investing in real estate and how to use the seminar circuit and the importance of networking. Jeff honestly makes recommendations and gives pertinent advice to the newbies as to how they can educate themselves, network and spread their wings to be successful. He takes listeners through the process of dealing with property managers and explains the importance of having boots on the ground—someone who knows the local market well.
Real Estate Knowlege is Power
This is a phrase that we hear all the time, certainly, in this case, it is absolutely relevant. Having experienced the ups and downs, the pitfalls and the challenges, Jeff opens up about the biggest mistakes that he has made and how having the relevant information could have saved him thousands of dollars. He believes that it is of utmost importance that you delve deep into due diligence before putting one cent into investment properties. Here is your opportunity to learn how to do it the right way.
RAP-UP SESSION—Jeff’s Favorites
Favorite Real Estate Book
Rich Dad, Poor Dad by Robert T Kiyosaki
According to Jeff, this book changed his paradigm and showed him that he could indeed be an entrepreneur and he did not have to settle for a 9 to 5 job.
Favorite General Business Book
E-Myth by Michael Gerber
Jeff thinks that this book shows you how to work on your business instead of in your business; as well as how to stop being so busy that you overlook what is really going on in the business.
Most Valuable Website Outside of His Own
For information, Jeff prefers www.biggerpockets.com as he thinks it is the best place to get real estate information. He also listens to several podcasts including
Old Capital, Joe Fearless and of course he will be adding the Old Dawg's REI Network podcast to that list.
Evernote is his favorite app to keep notes and he also likes it because he can use it on his phone and computer; that way the notes are always available. However, Dropbox is critical, and he uses it to store and protect his data and files instead of the flash drive or hard drive; like Evernote, he can get it on his phone and computer.
Thank you all, we appreciate everybody. Have a blessed day
Michael Becker is a Principal at SPI Advisory LLC and heads SPI’s Frisco Texas office where he oversees all aspects of property operations, including asset management, property management oversight, accounting and taxation, capital improvement and renovation projects and investor relations. Michael is a 15 year veteran Commercial Real Estate Banker and has originated and managed numerous portfolios of permanent and bridge loans in all major asset classes. Over the last 5 years of his banking tenure, Michael focused exclusively on multi-family properties, where he was the number one loan producer for his division at a Top 3 National lender for his last 3 consecutive years. As a Portfolio Manager, Michael directly oversaw the management and financial performance of the countless C & B class Multi-Family properties he originated loans for. As a result, he accumulated an exceedingly diverse network of suppliers, contractors, consultants and service providers during his tenure. This gives him the ability to quickly and efficiently implement a breadth of value-added strategies for a fraction of the typical cost.
Joe Fairless is Principal at Fairless Investing and Host of the extremely popular leading iTunes podcast - BEST REAL ESTATE INVESTING ADVICE EVER. He started buying multifamily properties in 2013 and now controls over $28,000,000 worth of real estate in Dallas-Fort Worth, Houston and Cincinnati AND WHAT IS AMAZING IS THE FACT he achieved this in just 3 years. He currently lives in Cincinnati and has been investing in real estate since 2008. Prior to that, he was the youngest vice president at an award-winning advertising agency in New York City. His latest acquisition was a 155-unit apartment community in Houston and he currently consults other investors on multifamily investing. As host of the popular show Best Real Estate Investing Advice Ever, which is the world’s longest running DAILY REAL ESTATE PODCAST he has interviewed guests such as Barbara Corcoran from the popular show Shark Tank and Robert Kiyosaki, author of the leading real estate investor book RICH DAD POOR DAD. He is a strong advocate of GIVING BACK and serves on the Alumni Advisory Board for Texas Tech University and the Board of Directors for Junior Achievement in Cincinnati. AND, I also understand he is writing his first book that is due to come out soon.
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