Episode #188: Confidence in Commercial Real Estate with Trevor Thompson

Creating wealth out of the opportunities found in commercial real estate can be challenging and daunting. Tough, it doesn’t need to be. If you can hone your skills through mentorship programs, find good partners and sponsors, and ask intelligent questions, the rest will take car of itself. Today our guest is Trevor Thompson, and although his entry into real estate has been a little less than conventional, he has closed nine successful deals in his real estate career to date. To open the show, Trevor talks about his professional history and touches on companies he’s worked for like Ripley’s Believe it or Not and Guinness World Records. We then dig deeper into his real estate journey and find out why he chose multifamily as his niche. Trevor goes on to tell us about his first deal, as well as the value he found in mentorship programs as an up-and-comer. As our conversation develops, Trevor talks about some of his key lessons, some of which have come from managing assets during the height of the Coronavirus pandemic. Later, we ask Trevor about how he keeps his portfolio diverse, and the best ways he connects with sponsors. To bring the show to a close, Trevor gives answers to questions about which real estate tools he uses most, some of his biggest mistakes, and what you need to know to grow your life to the next level. Be sure to join us!

Key Points From This Episode:

• Introducing Trevor Thompson to the show.
• We give a brief background of Trevor’s professional career.
• Trevor expands on his journey and tells listeners about his colorful history.
• How Trevor entered passive income.
• Hear about Trevor’s first deal.
• Why you should join a mentorship program.
• Some of the key lessons Trevor has learned during his time in commercial real estate.
• How Trevor has ensured diversification among his nine investments.
• The boxes Trevor checks when looking for sponsors.
• Trevor talks about his hit rate when it comes to viewing deals.
• Hear about how Trevor’s assets have performed during COVID.
• The types of intelligent questions Trevor asks sponsors and partners.
• Hear our final-four questions for Trevor.

Tweetables:

“Feeling part of a community made me feel a lot safer in doing this investing.” — Trevor Thompson [0:03:54]

“I definitely learned that going into deep value-add and then running into a pandemic is much more challenging.” — Trevor Thompson [0:05:00]

“I wanted to be able to be diverse so that it could understand definitely different asset classes ... I wanted to earn and learn.” — Trevor Thompson [0:08:10]

Links Mentioned in Today’s Episode:

Passive Income Through Multifamily Real Estate Facebook Group

Free Call with Kyle or Lalita

Trevor Thompson on LinkedIn

Trevor Thompson on Facebook

Ripley's Believe It or Not

Guinness World Records

iFLY Indoor Skydiving

Rich Dad, Poor Dad

Zoom
RedIQ
Virtual Asset Management Summit 2021