Lessons from selling 42,000 units
Multifamily success begins with a strong team
How do you eat an elephant? One bite at a time. Dan Burkons joins us in the locker room today to share his story of success as multifamily sales agent. Dan’s kicked off his career by listing and selling 14 units in East Cleveland 15 years ago. Today he’s closing $58 Million dollar deals. Everyone starts small and grows bigger by working hard over time.
Dan has worked with clients who started with one small deal, quit their day jobs and scaled to 10,000 doors. He believes that having sold management in place is a critical component of success. Pairing a profitable operating and management system with private equity is required to successfully scale.
Something will always go wrong closing a commercial deal. Find out who is creating the roadblock and what their motivation is. You will overcome the obstacle by drilling down into the problem, identifying the root person raising the objection and getting to the decision maker to find a way to solve the issue.
Ice hockey taught Dan that hard work is fun if you like the people who you are doing it with. He attributes his success in business to working hard with people he enjoys working with.
5 Key Points:
- Have a management plan first.
- Bad management will sink a great deal.
- When entering a new market you have to find the right multifamily agent who is active in the product type you want to purchase.
- You want a local real estate attorney on your team who’s an expert in your niche in the market.
- Hard work is fun when you like the people on your team.
Favorite athlete: Matthew Dellavedova – Australian born NBA player
Favorite book: How Wall Street Created a Nation: J.P. Morgan, Teddy Roosevelt, and the Panama Canal by Ovidio Diaz Espino
Favorite quote: “If it were easy, everyone would do it”
Thank you Dan for taking time out of your busy day to share your story with us.
Invest well,
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