Creative Capital Podcast 124: Multifamily Millions On Your First Deal with Tory Sheffer

Creative Capital

Josh Ferrari

Investing, Business

5 • 1.1K Ratings

🗓️ 18 December 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Tory is responsible for all aspects of real estate acquisition & management. This includes underwriting, structuring equity, raising capital & asset management. His work involves managing the transaction process from inception to execution, as well as continuous asset management through the life of the asset.

Tory has been in the real estate industry 6+ years as a broker and principal investor in 100+ transactions totaling $70M+. Tory is also an investor in Real Estate Lab which is a real estate software company focused on analysis and data related to multifamily investing. Prior to real estate Tory owned & operated Superior Recreation Services, a company building commercial playgrounds throughout Michigan & Ohio.

Welcome to another episode of the Creative Capital Podcast. In this highly motivational yet educational episode, I speak with my guest, Tory Sheffer about how he closed on over 200 units on his very first multifamily deal and all the lessons that come with it.

[00:01 - 12:13] Who is Tory Sheffer?

An overview of the episode
Welcoming Tory to the show
Tory shares his background and how he started in Real Estate
Tory’s first multifamily deal

[12:14 - 18:19] Lessons Learned in Tory’s First 200-Unit Multifamily Deal

Negotiating for the deal
The power of strategic relationships and networking
Tory’s current profile
The current Pro forma on Tony’s first deal

[18:20 - 35:25] Getting Traction in the Multifamily Market

How to source deals
Standing out in direct seller marketing campaigns for multifamily buyers
When to hire a team
Underwriting for deals and how to determine if an opportunity is worth pursuing
The future of Sheffer Capital

[35:26 - 39:01] The Pod Decks Segment

Do you think the Gamestop stock situation was truly a grassroots movement or was it orchestrated by Wall Street elites?
Why do you think people create/join cults?

[39:02 - 45:44] The Core Four

What is your favorite real estate-related book?
- Am I Being Too Subtle? by Sam Zell
What do you think your unique skill is that helped you become successful?
- Personability and Likability
Tell me something that's true about real estate that almost nobody agrees with you on
- Class A at low cap rates right now is a good investment
What one piece of advice would you give the listeners wanting to succeed in real estate investing?
- Shoot and aim
Connect with Tory
A summary of the episode
Closing words

Key Quotes:

“I don't really know how I stand out, I just put it very straight to the point … I think it's just a matter of being in front of them at the right place and right time.” - Tory Sheffer

“I would say the biggest thing is to shoot and then aim. Find something that you are interested in and then just start trying to do it. And figure it out along the way, rather than getting buried in analysis paralysis.” - Tory Sheffer

Connect with Tory

LinkedIn: https://www.linkedin.com/in/torysheffer/

Instagram: https://www.instagram.com/torysheffer/

Twitter: https://twitter.com/ToryJSheffer

You can reach and connect with me on Facebook, LinkedIn, Instagram, and Youtube

You can also email me at [email protected]

For more information about Ferrari Capital visit us on our website https://www.ferraricapital.com

SUBSCRIBE to this podcast for more episodes on how to create your own future through smart and lucrative investments.

LEAVE A 5-STAR REVIEW and share this podcast with someone you know who wants to experience massive growth and success in their business.

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Transcript

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0:00.0	You're listening to the Creative Capital Podcast.
0:08.1	You're dying to learn about how you can create wealth through real estate investing, then
0:11.4	you come to the right place.
0:13.7	Join in every week as we go over the ends and outs of real estate investing and learn
0:18.2	how you too can become financially free.
0:22.2	I put it very straight to the point and I think it's all about timing as you have you
0:27.0	happen to have a letter hit their mailbox, there are a lot of times people will keep
0:30.8	the letters too for quite a long time so I'll get calls like a month or three or six months
0:35.6	after the letter actually got in their mailbox and they'll just keep it around.
0:39.9	This is the same thing happened when I was selling houses and I emailed the people that
0:42.3	I wanted to sell their house, you know, I get calls many, many months after the mail
0:46.8	or will hit and I think it's just a matter of being in front of them at the right place
0:51.7	and right time.
0:52.7	What's going on everybody?
0:53.7	This is Josh Ferrari, host of the Creative Capital Podcast and today is a very highly
1:01.6	motivational but also educational episode.
1:05.2	As you guys have seen, it's multifamily millions on your first deal with none other than
1:10.2	Tory Shepherd.
1:11.2	Tory Shepherd is based out of the Detroit Michigan area and on his very first deal he was
1:17.4	able to close on over 200 units.
1:21.7	Very first multifamily deal over 200 units.
1:24.7	Now I don't know about you guys but that is insanity.
	...

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