214: Building a $30M Fund to Invest in Real Estate with Joel Sherlock

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 16 February 2017

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Some investors buy a single house. Some buy a small multifamily. But today on The BiggerPockets Podcast, we sit down with someone who jumped into real estate in a much bigger way! Joel Sherlock is an investor from Canada who put together a $30 million dollar fund to buy real estate in America. You’ll learn why he went this route and how you can follow a similar strategy in your own business. You’ll also learn about Joel’s entrance into the world of commercial real estate, including the pros and cons of that niche. In This Episode We Cover: How Joel started real estate back in college Why he eventually moved his investing in Canada to America How he was able to come up with $32 million in funds What a “hurdle rate” is Why he considers his model to be conservative The kind of properties he’s buying Why he chose Scottsdale Innovative strategies for finding deals How he “trades deals“ How to get fixed-priced bids from contractors Why he’s made the move to commercial real estate Why people avoid commercial real estate How to evaluate strip malls Tips for analyzing commercial deals Future plans for his business And SO much more! Links from the Show We are hiring! BiggerPockets Forums Bond BP Podcast 047: Apartment Complexes, NNN Leases, and Commercial Real Estate with Joel Owens Books Mentioned in this Show The Millionaire Real Estate Agent by Gary Keller Shift by Gary Keller Think and Grow Rich by Napoleon Hill The Saint, the Surfer, and the CEO by Robin Sharma Tweetable Topics: “It’s exactly the same thing, there is just more zeroes.” (Tweet This!) “In the real estate sales world, as soon as you stop selling, you stop stop making money.” (Tweet This!) “Getting started is the key. You don’t have to be great to start but you have to start to be great.” (Tweet This!) Connect with Joel Joel’s BiggerPockets Profile Joel’s Website Joel’s Company Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets
0:05.0	This is the bigger pockets podcast show 214.
0:10.0	You know they want a list and they have to list and sell their home before they can buy ours
0:14.1	We'll step in and make them an offer and say listen I mean if you want to buy the property that we have to sell we'll buy yours
0:19.6	And so we sort of facilitate a lot of deals that way
0:23.1	You're listening to bigger pockets radio,
0:25.6	simplifying real estate for investors large and small.
0:29.4	If you're here looking to learn about real estate investing,
0:32.0	without all the hype, you're in the right place.
0:35.0	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:41.0	Your home for real estate investing online.
0:44.0	What's going on everybody? This is Josh Dorkin, host to the BiggerPockets
0:47.7	podcast here with my co-host, Mr. Brandon Turner. What's going on Brandon?
0:51.8	Josh Dorkin, how are you you I'm doing okay man doing
0:55.4	okay living living life enjoying this lovely gloomy day that we have here in
1:00.9	Denver yeah it kind of looks like I'm looking at your
1:02.8	window that looks like Washington. It does it's a little unusual but you know that's all
1:07.3	good. Well you're a little unusual. Well you're a little unusual. Well welcome
1:10.7	back from Canada I'm just gonna ignore your comments. No problem. Yeah, Canada, yeah, I'm back. We're back in the States. However, we are talking to a Canadian today. We are. A boot. A boot, Canada. Is that a bad Canadian accent?
1:24.6	Well, I mean, we're talking about us. Investing in the US.
1:29.0	Yeah. Yeah, it's any perspective. And this is a show for everybody because we're not it's not like specific to hey here's issues that a Canadian is going to have buying in the states.
1:38.0	It's you know hey here's what this guy's doing how he's doing it and and it's it's interesting he's definitely raising the bar a little
	...

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