The REI Foundation Podcast Ep 173 Doing 100+ Deals in 3 Markets!
On Today's episode we welcome Ryan Robson!
We met Ryan Robson in a Mastermind Group a year ago and he just about blew our minds with his knowledge and value. We are excited to have him on our show today!
HOW DID YOU GET STARTED IN REAL ESTATE:
“I’ve always wanted to do Real Estate. I’ve got parents that are in it and … when you see your parents are successful at something you tend to THINK you can do it yourself and that is will be easier than it ends up being. I remember sitting with my Dad right out of High School … deciding what I wanted to do in college and I really wanted to study Real Estate…”
Ryan’s father convinces him NOT to study Real Estate in College.
Ryan goes into Accounting instead.
“So this was really interesting timing… From about ‘04 to ‘07… all of my friends who had gone into real estate were making from 150K to a Million dollars a year and they had no clue what they were doing because from ‘04 to ‘07 you could just have warm blood, decide to go into Real Estate and make a lot of money. So here I am making 48K a year, locked in a back room, counting numbers… and watching all my friends making all this money and kicking myself.
Ryan finally convinces a Hard Money Lender to hire him. Ryan gets his own office and starts learning the ins and outs of Real Estate Investing.
Then the Crash hit…
All of Ryan’s friends get slammed with the market and never come back to real estate again.
The day the Hard Money Lender gets shut down Ryan loses his job. Ryan takes a week or two and just hangs out and watches football. During a particularly long day of watching college football Ryan realizes he needs to get back up and get moving and gets into Fix and Flips through Short Sales.
ON RYAN’S FIRST FLIP:
“Motivated sellers were pretty easy to find… my first deal… I bought it for 48K and flipped it for like 62K. I mean… not a great deal. I think that first year in 2010 I did 20 flips and every year since then it’s been about 100 flips a year.
HOW RYAN GREW HIS BUSINESS SO FAST:
Essentially Ryan found his buyers first, found the homes these buyers wanted, fixed them and flipped them to his end RETAIL buyer.
VALUE ADD ON NETWORKING:
Ryan makes the connections with people he wants to connect with. He calls them and asks, “Can I stop by your office for 15 to 20 minutes to visit with you.” Instead of inviting them to coffee or lunch which takes more time out of their day. Successful people usually do not have the time to meet with you for an hour. During that 15-20 minutes you are given… YOU need to give your target a reason to want to continue that conversations. At the end of each of these meetings Ryan will say, “Who do you know that is looking for someone to work with or who do you know knows more about this subject.” THey will give Ryan some names (You have to establish trust first!) Then Ryan will use his first connection to make more connections!
VALUE ADD ON FUNDING:
TAKE THE MONEY!!! Don’t get caught up in percentages and points when you are first getting into real estate. One of Ryan’s first deals was funded by an investor who want 30% of the profit. Ryan said yes. He got to get a deal done, learn from this investor and made a great profit.
ON THE BASICS:
75% x ARV - REHAB= OFFER. That's Ryan's simple formula for finding his offer price!
ON GOALS:
“My goal this year is to do less deals, better deals, with more people…” Listen in to learn more about how Ryan is taking is ALREADY MULTIPLE MILLION DOLLAR BUSINESS to the NEXT LEVEL!!!
ACTIONABLE STEP:
“Don’t be afraid to ask people who are successful for advice.”
CONNECT WITH RYAN:
https://www.facebook.com/ryan.robson.77
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Fund that Flip is a one stop shop for all you flipping and small multifamily lending needs. With an easy application, transparent terms and fast service Fund that Flip it's no wonder Jason and Pili are customers.
To learn more about Fund that Flip, click here.
To learn more about Ryan Robson, click here.
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