MISSION STATEMENT Our mission is to educate, support and network with like-minded real estate investors who want to build income streams through small and large apartment complexes in Texas and nationwide. Come join us at our next event.
Below are a few topics we've spoke about in the past or will cover in upcoming events:
- Marketing for deals - Mistakes to avoid in apartment investing - Getting deals analyzed - How to analyze small or large apartment deals - Management of Apt Units - Raising Private Money - How to use IRA or other retirement funds to invest in multi-family
STORY OF GROUP HOST
Who is Scott Freebairn and why is he qualified to teach?
Scott is originally from California and is currently a local apartment investor in Dallas-Fort Worth. His company are actively managing a portfolio of apartments and condo units in DFW.
HOW IT ALL STARTED In 1995, Scott was earning a low hourly wage at a plumbing parts warehouse in Bakersfield, California, when layoffs were announced. With a young family to feed, he knew things needed to change. With no experience, no money, big dreams, and a willingness to work hard, Scott decided to pursue real-estate.
OPPORTUNITY WITH A MOTIVATED SELLER He soon found a 34-unit apartment complex that the owner just didn’t want the headache of anymore. With a deal that required $100,000 cash down and the rest owner financed through a wraparound mortgage, Scott plunged headfirst into creative financing and property management having no significant bank account balance and about 5 bucks in his pocket at the time he signed the contract!
TAKING ACTION AND LEARNING ON THE JOB He learned everything about what makes an apartment complex work and not work. Scott managed the building himself and painted walls, fixed toilets, replaced water heaters, laid carpet, paid bills, rented units, and evicted delinquent tenants. This self-inflicted step into real-estate forced Scott to learn every aspect of property management. As time passed, he discovered he was quite good at it.
After turning the property around, Scott bought began buying more multi-family apartment units. After holding them for 10 years, Scott sold all of his California properties.
Not only had he been able to provide for his family through cash flow, but the sale earned over a $1.2 million dollar profit.
With the same strategy of purchasing, stabilizing and long-term hold, Scott used his profits to purchase additional complexes.
He currently owns and manages a portfolio of over 300 units and just recently sold a 24-unit complex he repositioned in Idaho.
Scott has learned a lot since 1995 and he's sharing it with those who want to learn and grow. We hope to see you at the next Meetup.