Trading Up Farmland to Multifamily with Levi Allen

03/08/21 • 42 min

Every investor has to start somewhere. Today’s guest started on a farm in eastern Oregon. Levi Allen grew up in an agricultural family and started his career continuing that tradition with his own farm. However, he was drawn to multifamily real estate and the wealth it could build. He started small with a few duplexes, then completed a 1031 exchange with his farm to acquire a 10 unit. From there, Levi joined a mentorship program to learn how to scale.

Today, Levi has been involved in several hundred units across Texas and Utah. Levi joins us to tell his tale of growing up on a farm and transitioning to such a drastically different business. He also discusses why he likes investing in Utah so much, the specifics of an incredible deal he recently closed on, and what his plans are for the future.

Previous Episode

Having a developer's mindset and the nuances of investing in Southern California with Brent Sprenkle

What does a business plan look like in a market that has rent control, strict landlord-tenant laws, extremely low cap rates, the most expensive labor in the country, and low leverage? Today’s guest is going to explain how he’s able to navigate all of the downsides in Southern California to make huge profits.

Today’s guest is Brent Sprenkle. Brent is a commercial broker for Berkadia in Los Angeles county and also owns his own portfolio of multifamily in L.A. and San Diego. While Brent is intimately familiar with all the downside that comes along with investing in SoCal, he explains how all that downside risk is worth it for the long term appreciation SoCal real estate provides. It’s true you can’t cash flow significantly in SoCal, but it’s one of the safest bets in the country that rents will, in fact, continue to go up over time.

He details how investing in SoCal requires you to be a tenacious investor. Do you have long-term tenants where you can’t raise rents enough due to rent control and the tenant doesn’t want to leave? How about offering them $20,000 to relocate to a different apartment so you can rehab and raise rents? This is just one of the many strategies most investors might find outlandish but actually work in SoCal.

Listen in and learn the nuances of investing in a market like SoCal! This episode has some wild stories.

Next Episode

Building Out Systems to Scale Your Business with Loren Jacobs

Every business reaches a point where it has to learn to scale. Today’s guest joins us to discuss how he’s reached this point and is building out systems to increase the number of deals they can make offers on.

Today’s guest is Loren Jacobs. Loren is living in Canada but purchasing multifamily properties here in the States. After syndicating his first few properties he realized that winning a deal is a numbers game. You have to underwrite a lot of deals in order to find one worth purchasing, and of those there are a few you’ll submit an LOI on, and of those you might get to the best-and-final round of offers, and of those you might win one.

Loren tells us how he’s putting together a group of individuals that can funnel in a large volume of deals so that they can work through that funnel and eventually be making 10 offers per week. That’s a lot of offers, and Loren is going to tell you why they made that goal. Don’t miss this episode.