Nate Shields and Troy Zimmerman had a straightforward goal: get to one hundred rental units in ten years. Now, near the halfway mark, Nate and Troy have made almost unbelievable progress in a real estate market most investors perceive as radioactive. With overpriced properties everywhere you look, out-of-whack cash flow, and high mortgage rates, will good deals ever come back? Thankfully for Nate and Troy, finding a deal was never the assignment; making a deal was.
After going through difficult partnerships in the past, Nate and Troy were hesitant to hop in the game together. But after years of getting to know each other’s strengths and weaknesses, it was only natural for them to tackle big deals together instead of small deals apart. Now, with forty rental units under their belt, they’re well on their way to hitting their hundred-unit goal. But this wouldn’t have worked out if they hadn’t made one special phone call.
In this episode, Nate and Troy will review their most recent acquisition, a fourteen-unit apartment complex with tricky financing in northwest Alabama. They’ll also share how calling one desperate listing agent unlocked a deal flow that brought dozens of units directly to them. If you’re struggling to invest in today’s demanding market and don’t think there are any deals worth the effort, this episode could change everything for you.
David:
This is the BiggerPockets Podcast show 791.
Nate:
The most important investment that anyone makes is their first deal because it gets them over that hump, “I can do this,” and you learn a lot in that process. There are two things that held me back from investing in real estate. One was just like, “How does a real estate transaction get put together?” Then the second part that I really learned a lesson on was how to find and manage a contractor. I made some pretty big mistakes there. So I learned some lessons on how to find contractors and that led to some better experiences down the…