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BiggerPockets Real Estate Podcast

306: How to Go From a Few Units to Over 1,000 with Monick Halm

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 29 November 2018

⏱️ 91 minutes

🧾️ Download transcript

Summary

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 estate How 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 thinking Her “Three C” system for evaluating potential partners to work with: Character, Commitment, Capacity Her 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), Familiarity How she ramped up her business by getting into syndication Why finding “business friendly” markets will help ensure you have a healthy tenant pool The 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 demand And SO much more! Links from the Show BiggerPockets Forums Become a Guest at the BiggerPockets Podcast The Real Estate Guys Radio Flip or Flop (TV Series) Secrets of Successful Syndication Books Mentioned in this Show Rich Dad Poor Dad by Robert T. Kiyosaki Set for Life by Scott Trench Turning Pro by Steven Pressfield The War of Art by Steven Pressfield Fire Round Questions Where 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 Monick Monick’s BiggerPockets Profile Monick’s Personal Website VIP Assets Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the BiggerPockets Podcast show 306.

0:04.0

Yeah, I'd much rather have like 25% 50% of a much bigger pie than 100% of a little pie.

0:12.0

Or 100% of nothing, right?

0:15.0

Because if it was almost having to do all by myself,

0:18.0

then I would definitely have been limited in terms of what I could do.

0:22.0

You're listening to Bigger Pocket's Radio. in terms of what I could do.

0:22.8

You're listening to Bigger Pockets Radio,

0:25.3

simplifying real estate for investors large and small.

0:29.0

If you're here looking to learn about real estate investing,

0:31.6

without all the height, 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 everyone? This is Brandon Turner, host of the BiggerPockets

0:48.0

podcast here with my co-host, Mr David, former Prison Guard Green.

0:56.2

How you doing David?

0:57.6

I'm doing great.

0:58.5

We have an incredible show.

1:00.4

We do.

1:01.4

You aren't even gonna talk about Prison Guard?

1:02.0

Come on. Well, it gets talked about in the show a little bit

1:06.9

I'm in a much better place in life right now. I don't want to have to go back to talking about prison

1:11.0

I'm hosting the bigger pockets

...

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