BiggerPockets Real Estate Podcast

BiggerPockets Podcast 214: Building a $30M Fund to Invest in Real Estate with Joel Sherlock

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Some investors buy a single house. Some buy a small multifamily. But today on The BiggerPockets Podcast, we sit down with someone who jumped into real estate in a much bigger way! Joel Sherlock is an investor from Canada who put together a $30 million dollar fund to buy real estate in America. You’ll learn why he went this route and how you can follow a similar strategy in your own business. You’ll also learn about Joel’s entrance into the world of commercial real estate, including the pros and cons of that niche.

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This Show Sponsored By

We just waRealtySharesnted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

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In This Episode We Cover:

  • How Joel started real estate back in college
  • Why he eventually moved his investing in Canada to America
  • How he was able to come up with $32 million in funds
  • What a “hurdle rate” is
  • Why he considers his model to be conservative 
  • The kind of properties he’s buying
  • Why he chose Scottsdale
  • Innovative strategies for finding deals
  • How he “trades deals
  • How to get fixed-priced bids from contractors
  • Why he’s made the move to commercial real estate
  • Why people avoid commercial real estate
  • How to evaluate strip malls
  • Tips for analyzing commercial deals
  • Future plans for his business
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “It’s exactly the same thing, there is just more zeroes.” (Tweet This!)
  • “In the real estate sales world, as soon as you stop selling, you stop stop making money.” (Tweet This!)
  • “Getting started is the key. You don’t have to be great to start but you have to start to be great.” (Tweet This!)

Connect with Joel

Show Preview

Real strategies that work for real people seeking to build wealth through real estate investments. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investo...
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    Rick Doctor Investor from Orange Park, Florida
    Replied about 3 years ago
    He mentioned in the show that he would share his spreadsheet, but I don’t see it in the show notes. Was that an oversight? Or am I having an oversight and completely missing it?
    Account Closed from Vero Beach, FL
    Replied about 3 years ago
    I am looking for the spreadsheet also.
    Dave Visaya Audio Engineer and Investor from Cebu City, Cebu
    Replied about 3 years ago
    Sorry for the delay guys. We’re at it. Updating in a few. Just got them from Joel.
    Matthew Grundy from Ridgewood, New Jersey
    Replied about 3 years ago
    Is the spreadsheet up yet? Thanks
    Jason S. Investor from Maryland Heights, Missouri
    Replied about 3 years ago
    I’m also looking for the spreadsheet.
    Lee Berkwits
    Replied almost 3 years ago
    Posting 3/21 – still no spreadsheet? Any chance of an update for when this is going to be posted?? Thanks much, Lee
    Joshua Metayer from Burlington, Vermont
    Replied almost 3 years ago
    Was really looking forward to checking out the spreadsheet Joel mentioned. Is that still coming or is it not going to be available?
    Grant Lin Investor from Los Angeles, California
    Replied almost 3 years ago
    Was the spreadsheet ever posted?
    Joshua Metayer from Burlington, Vermont
    Replied over 2 years ago
    Dave, what’s the status on this? Thanks.
    Eric Hamm Rental Property Investor from Merced, CA
    Replied over 2 years ago
    @Dave Visaya – has the spreadsheet ever been posted? If not, can you let us know if it is going to ever be posted or not? It appears several people are looking for it, and I, for one, keep checking back to see if it’s been posted. Thanks!
    Sonia Spangenberg from Manassas, VA
    Replied about 3 years ago
    I love the comments about why isn’t BP having more content on commercial investing. We are into this about two years now and are looking at our first Commercial deal. I would love to see more blogs and content on commercial investing.
    Andrew Syrios Residential Real Estate Investor from Kansas City, Missouri
    Replied about 3 years ago
    Very interesting, great podcast!
    André Van Tulder from Helsinki
    Replied about 3 years ago
    greetings from Finland, yes I too am after the spreadsheet – I’m geeking out on these things at the moment trying to do my own. Thanks in advance Joel, and BP!
    Jim Bacheldor from Charlotte, North Carolina
    Replied about 3 years ago
    Great podcast! Looking for the speadsheet.
    Kwabena Ackie Flipper from Austin, Texas
    Replied about 3 years ago
    Echoing the comments on the spreadsheet.
    Devin Jensen Residential Real Estate Broker from Hermosa Beach, CA
    Replied almost 3 years ago
    Was the spreadsheet ever posted?
    Gee
    Replied about 3 years ago
    Awesome podcast! Great information, and one of my fave funny quips:. “I’ve never made a mistake, I just invest heavily in my education” Thanks Joel, Josh and Brandon!
    Joshua Metayer from Burlington, Vermont
    Replied almost 3 years ago
    Been three weeks — spreadsheet ever coming?
    Shaidah K. Rental Property Investor from Richmond, British Columbia
    Replied almost 3 years ago
    Great podcast. Nice to hear finally hear from a Canadian on the podcast!
    Prabha Matta from San Fran, California
    Replied almost 3 years ago
    Did anyone ever get the spreadsheet?
    Devin Jensen Residential Real Estate Broker from Hermosa Beach, CA
    Replied almost 3 years ago
    Nope not yet 🙁
    Nathan G. Real Estate Broker from Cody, WY
    Replied almost 3 years ago
    Good show, even if he’s talking about different game than most BP members. I’m moving in on my first commercial residential and am doing what I can to learn more. Keep ’em coming, guys!
    Carol Yang Surveyor from Vancouver, BC
    Replied almost 3 years ago
    Has anyone got the spreadsheet?
    Devin Jensen Residential Real Estate Broker from Hermosa Beach, CA
    Replied almost 3 years ago
    nope
    Justin Gittins Professional from La Mesa, California
    Replied almost 3 years ago
    Is the spreadsheet available yet?
    Eric Hamm Rental Property Investor from Merced, CA
    Replied almost 3 years ago
    I, too, am interested in seeing the spreadsheet.
    John French Investor from Norfolk, Virginia
    Replied over 2 years ago
    Great podcast, is the spreadsheet available? Where can I find it?