How To Build Wealth and Buy Commercial Real Estate With Creative Financing and Partnerships | Terry Hale
Millionaire Mindcast
Matt Aitchison Media, Inc
4.4 • 716 Ratings
🗓️ 18 September 2023
⏱️ 55 minutes
🧾️ Download transcript
Summary
This Millionaire Mindcast episode is sponsored by BetterHelp. Give online therapy a try at betterhelp.com/MINDCAST and get on your way to being your best self.
Today, we have Terry Hale who shares wisdom on building the right team and networks, wholesaling business and its dirty thing, property types that are recessionary-proof, and building wealth through commercial real estate and creative financing while being a present husband and dad!
Terry Hale is a family man, an entrepreneur, an expert in commercial real estate, an investor, and a trainer. He is an advocate of education and sharing knowledge. For over the last 20 years, he has educated and repositions distressed A-B-C Class Commercial properties, and helped people to invest in commercial real estate to create long-term predictable wealth and cashflow.
Some Questions I Ask:
How are you going, brother? What's going on in your world?
What brought you into commercial real estate, and take us where these all begin for you?
What are some of the best skills that aspiring commercial real estate investors should sharpen their axe around?
How someone can take that first step and get into the game?
How wholesaling and commercial real estate is done the right way, and find your end-buyers?
What are the best, challenging, and struggling asset classes right now?
What are your thoughts on the state of the market, and how seller financing going on?
How are you mitigating risk and navigating the stream right now?
What are your goals going forward?
Why going global, and what are your thoughts and plans for the future?
In This Episode, You Will Learn:
Why Terry fell in love with commercial real estate.
Creative seller financing.
How to create enough time for the family despite a busy schedule.
Wholesaling business and its dirty thing.
What are the 3 property types that are recessionary-proof?
Criteria on why Terry engages a business with.
The Cafiteria Pitch.
Terry’s six steps in achieving success in business.
Quotes:
“Educate and delegate freeze my time.”
“It wasn’t about me as an investor, it was about figuring out the deal.”
“If you can figure out the deal and you can solve the problem, then you can make all the money, man.”
“If there’s no problem, typically, there’s no deal.”
“The best deals are created.”
“Lucky is just being prepared, and being present, and executing.”
Resources Mentioned:
Connect with Terry Hale on:
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Transcript
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| 0:00.0 | Someone might ask, well, why would you flip that if there's so much money in it? It's the speed of money. |
| 0:04.7 | Yeah. And that's the mindset trip I had was like when I first got into my business model and I was acquiring portfolios, I was looking at what my returns were and all the expense that went along with it. |
| 0:16.9 | And that's why I was intrigued by wholesaling because I was like, look, I can wait five years to make the same money that I can flip a deal in less than 30 days in commercial and make. |
| 0:26.1 | Why would I want to wait five years and have to have it in my head and have it on the books? So that's why I got still immersed in that. But I'd say know your numbers and know your market. Those are the two biggest things. And again, sharpen your skill set on the human element of business and getting to the wants and desires and needs of the seller. |
| 0:55.7 | Hey, man. How's it? Good. Good to be here. |
| 1:05.6 | Yeah. I always love talking to fellow commercial real estate investors, one, because not that we're a rare breed, but I think we are a rare breed in the sense of we talk openly about what we do. |
| 1:10.9 | And we share and try and, you know, empower others. And I know usually when I get into some high-level conversations with other commercial real estate investors, how they've built their wealth, |
| 1:15.4 | what they're seeing in the market. There's always great kind of data points to connect the dots on. |
| 1:20.5 | So I'm looking forward to today's conversation. And I guess we could kick things off by it. How are you |
| 1:25.5 | doing, brother? What's going on in your world? |
| 1:32.0 | Oh, man, busy, but good busy. You know, we pick and choose how busy we want to get. |
| 1:38.3 | That's for sure. But I always have been a big advocate of education and sharing the knowledge like we're doing here. |
| 1:44.3 | So I appreciate you having me. And, you know, for me, man, it's about building the right teams and the right network. |
| 1:48.9 | So educate and freeze my time and less than me spend more time with the fam. |
| 1:52.4 | That's awesome. And you got, is it one son or two? |
| 1:55.2 | Oh, no, I'm one and done. |
| 1:58.2 | One and done. You said, hey, that's one and done, maybe. |
| 2:02.8 | I love it. I love it. So you and your family are down in beautiful Malibu, |
| 2:06.5 | and I know obviously you're investing, you know, all over the country now globally, which we'll get into here in a little bit. |
| 2:08.5 | But for those that don't know, you and kind of how you got started, |
| 2:13.1 | what brought you into commercial real estate? |
| 2:15.0 | Like, take me back to the beginning of where this began for you. |
... |
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