[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row column_structure=”2_3,1_3″ _builder_version=”3.26.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_padding=”28px||2px|||”][et_pb_column type=”2_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.4.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″]
Thank you for checking out these show notes! If you haven’t already, make sure to:
Subscribe to our podcast and leave a review: Click Here
Subscribe to our Youtube Channel and comment on a video: Click Here
Check out our site, and download our “Free Guide to Becoming a Real Estate Investor”: Click Here
Follow us on instagram: Click Here
Contact
Website: www.wootencapital.com
Facebook: Real Chris Wooten
Instagram: @realchriswooten
Twitter: @realchriswooten
LinkedIn: Chris Wooten
Ep 094: Retired military vet builds a real estate empire | Chris Wooten
04:36 – Chris describes how to calculate Infinite Return. He said that to calculate your return, you’re going to calculate what your NOI coming in is versus how much capital you have in a deal.
08:40 – Chris’ most valuable piece of education was how to do his own estimates of rehab. Being an analytical person, he built a spreadsheet that calculated renovation expenses.
10:44 – He also has the same workbook that gives him his maximum allowable offer. It will take into consideration the rehab amount, the current contract price, after repair values, and all of those different pieces plus what you are going to put into the renovation.
12:02 – The wholesaling course he attended taught him to build a team in the area if you’re not physically there. So, Chris had a team that consisted of an inspector, realtor, and a title company.
13:53 – You just have to get comfortable with your team. As soon as you are comfortable with your team, then it gives you the courage to go ahead and allow them to take some things and execute without you being physically present and having constant oversight, says Chris.
16:26 – Chris went from wholesaling to flipping because he realized the margins were better on the flipping side. He talks about how he got into investing in apartment buildings.
18:40 – Chris tells anybody that is going into an acquisition to not expect to make anything in your first year. You’re just getting in, you may have to change out property management, you may have to change maintenance folks, and there’s going to be popup expenses, and you just have to get used to that property. So, that first year don’t expect anything. If you get stuff, great. But don’t expect anything.
21:58 – Chris’ whole reason for getting into apartment investing is essentially time freedom and mobility freedom.
22:04 – 2 years ago, Chris didn’t know what Syndication really was. So, he went to a weekend bootcamp and learned about syndication and did his own homework to get a deeper understanding of it.
24:52 – What happens to a lot of people is they get stuck in a macro, but they never get deep enough to get comfortable. Once you find comfort, that‘s when you take action. The same thing happens with your team. Once you get comfortable with your team, then you allow your team to take action.
25:14 – If you’re not comfortable, then you’re not going to have the courage to take action. If you’re not comfortable with your team, you are not going to have the courage to delegate those actions.
29:10 – If you want to get started with apartments and you don’t have that experience, find somebody to partner with and bring value to each other.
31:20 – Connect to Chris via Facebook, Twitter, Instagram, and Linkedin.
[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.26.6″][et_pb_signup mailchimp_list=”undefined|” layout=”top_bottom” name_field=”on” title=”Download Your Free Starter Guide” button_text=”Yes! Please Send It” description=”
Want to start investing in real estate, but have no idea where to begin?
Get your free Real Estate Guide below.
” _builder_version=”3.26.6″ header_text_color=”#ffcd00″ body_font=”Poppins||||||||” background_color=”#262a23″ custom_button=”on” button_text_size=”16px” button_text_color=”#ffffff” button_bg_color=”#e09900″ button_border_width=”0px” button_border_radius=”44px” button_font=”Poppins|600||on|||||” button_custom_padding=”12px||12px||true|false” text_orientation=”center” border_radii=”on|17px|17px|17px|17px”][/et_pb_signup][/et_pb_column][/et_pb_row][/et_pb_section]
