All Forum Posts by: Garrett White

As a 26 year old, I can vividly remember being in a similar situation at 20. I was hungry and looking for answers, but most advice like “Work hard and be patient” seemed ambiguous and cliche. Fast forward to today, and I have gained perspective and see the wisdom in those 5 simple words. However, I’d like to share my journey and the advice I would now give my 20 year old self in hopes that it part of your roadmap to success. Advice to My 20 Year Self 1. Decide WHAT It Is You Want (Focus) - The first step is deciding exactly what it is you want to be, do and have. When you get clear about what you want, you can begin transforming yourself into the person that can attract those things. At 20 years old, I knew I wanted freedom from the rat race in the form of passive income. 2. Know WHY You Want it (Desire) - This has been the #1 most important step for me. When I sat down and asked myself why I wanted passive income, I realized my driving factors included wanting time to enjoy with my family and having income I could pass down to the next generation. I also included painful reasons such as not wanting to reach 80 years old and be filled with regret and the possibility of working corporate and not having time to hunt as much as Id like (my passion). Having these WHY’s have been the fuel that have kept me growing and searching for answers whenever I face life’s inevitable setbacks. Without a WHY that is bigger than yourself, it becomes much easier to give up on your goals. Remember, “Reasons come first and answers come second.” 3. Belief - Even if it doesn’t seem likely that you can accomplish your goal, it is important that you at least realize it’s possible. For me, this is where I spent time learning about people before me who had accomplished their goals despite the odds. 4. Commitment to the Small Disciplines - Once you have studied successful people and their habits, begin to take action by emulating them. Begin “Faking it til you make it” - read books on whatever it is you want to master (real estate books), listen to podcasts, wake up early, work longer, save more than you spend, write down goals and plan each day, etc. Make it your motto to NEVER BE OUTWORKED in your 20s. This is your time to be selfish - sacrifice play time now while you have the time and energy so you can be selfless in your 30s and on once you have a family. 5. Success “Shortcut”: Find a Mentor - Now that you’ve spent time in reflection, growing good habits and investing in your education, find a mentor you admire who has already accomplished what it is you wish to do. Your education should’ve helped you fine tune exactly what niche you wish to specialize in (wholesale, flip, single family rent, multifamily rent, mobile home park rent, any other venture). Find a mentor who is the master of that skill. However, know that not all mentors are created equally. Find someone who: A) Is Experienced AND Active In Your Nice B) Has a System You Can Replicate C) Is Available for Questions and Will Help You Overcome any Fears/Uncertainties D) Has Access to a Network You Can Leverage in your Business To attract a mentor that has these traits, you must become valuable to them. Your biggest assets in your 20s are your time and energy. Find ways to add value to their life and help them without them having even asked. Offer to work for them for free, connect them to someone, anything to become invaluable. My life changed dramatically when my mindset shifted from simply being a “Go Getter” to a “Go Giver”. 6. Consistency & Persistency - My first transformation came when I studied the habits of successful people and began to implement them into my own life. Now that you have a mentor that you can learn firsthand from, do the same thing. Find out what they do every day, and begin emulating them. Each day, focus on becoming just 1% better. The goal is always Continuous Progression, NOT Immediate Perfection. This is definitely not a get rich quick scheme, but it is a get rich surely scheme. The best part - you can apply it to whatever you wish to improve on (Faith, Family, Job, etc). And finally, by focusing on becoming the right person through habits, you will have had the opportunity to save your own money to invest, or better yet, become attractive enough of a person to attract capital from your future mentor and/or other partners. Best of luck in your future! You’re still very early in the process. Devote your 20s to becoming the Tortoise, not the Haire. Sincerely, A 26 Year Old Reflecting Back

Are you wanting your partners to be passive or active investors? If passive, a common scenario is a 30/70 split where you receive 30% for finding the deal, raising the capital, and performing ongoing asset management. Your Investors would then split the 70% according to their individual investments on the equity side.

I'm a huge proponent of acquiring specialized knowledge as long as its organized and applied towards a definite end. I would guess there are as many people who bounce from one seminar to the next without ever getting started as there are people who jump in without having the proper knowledge. It's all about finding the happy balance between learning and applying. That's why I suggest "Start Small, but Start Quickly." Get your education, but then quickly test it out on a small scale so you can cheaply correct your mistakes before going larger with bigger deals.

My partners and I are actively seeking underperforming apartments north of Charlotte, NC. Who are the commercial brokers in the area who specialize primarily in apartments? Thanks in advance for any guidance!

Thank y'all for the advice! I have researched the local attorneys, and have reached out to my SEC attorney to begin reviewing my business plan and marketing material to ensure we stay compliant. Thanks again!

Wow, I’m overwhelmed with the great responses. Thank you all for your input in making sure I take the right next steps. 

How important is it to have an SEC Attorney from the state you’re from and considering purchasing real estate in? I’ve listened to multiple podcasts with reputable SEC Attorneys but they’re all out of state and wasn’t sure if that would make a whole lot of difference 

I am interested in syndicating my first MF this year. Is it recommended to purchase a PPM Template online to give to your SEC Attorney to review/edit to save time and money of having the attorney draft from scratch?

If so, what site would you recommend? Does anyone have a PPM copy they'd be willing to share? I definitely don't mind paying but just uncertain about the direction to take. Thank y'all! 

I am building a database of apartment owner’s phone numbers so that I may follow up with them after mailers. For LLCs, I’m researching the Filings found on the Secretary of State page, but am running into the problem that a good many include the number and address of the Property Manager and NOT the owner. What other websites can I use to obtain the property owner’s number and home address? What do commercial brokers use to research owner’s contact info?

Wow! It's a blessing having this community of passionate investors to turn to. Thank y'all for taking the time to help guide me!!

I began investing when I was 21 with the help of local investors who were kind enough to coach me. Since then, I've realized the importance of a mentor who can keep you on the right course and give you confidence. I'm now 25 and eager to expand into multifamily. I've studied and researched various people in the industry and was curious of who you'd recommend. The 3 I'm most familiar with are Craig Haskell, Jake & Gino, and Dave Lindahl. Has anyone signed up for any of these 3, and what advice would you be willing to share as far as pros/cons? Also, any other names that would be worth looking into? Thanks for your help!