Fleming Schutrumpf on Building a Rental Portfolio to Escape the 9-5

Posted on September 2, 2017
In Uncategorized

Building a Rental Portfolio

Fleming & Dan Discuss:

Buying in the “Right” Markets for Appreciation
Bankruptcy Impact on Evicting a Tenant
Best time to Buy Real Estate
Nightmare Tenant Issues & How to Deal with them
Importance of Building a Money Machine

Listen Now:

Mentioned Episodes: (There are 93 Content Packed Interviews in Total)

Austin Stack on Being Drafted Onto the Diamond Equity Team
Mitch Ripkin on Soft Hard Money & Self Managing Rentals
Paul Sloate Monthly Market Update for August

Resources Mentioned in the Episode:

www.RentalRealEstateBook.com

Do You Know Anyone Else Who’s a Real Estate Investor?

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

The REI Diamonds Show-Real Estate Investment Podcast

Real Estate Investing Podcast designed to help experienced real estate investors make & keep more money. The REI Diamonds Show is a loose discussion between Dan & expert guests focused on strategies for avoiding risk & generating profits. Many of the guests generate more than $1 Million in profit per year-investing in real estate.

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Episode: Investing in Multi Family Properties-150 to 300 Unit Deals with Chris Larsen

Guest: Chris Larsen is the founder & managing partner of Next Level Income. He’s been syndicating multi family property deals since 2016 and raised more than $15 million over $150 Million in acquisitions.

Big Idea: Buying High Quality Assets when No One Else Wants them Can Generate Huge Wins. Chris’ company is focused on identifying high yield passive investments ranging from real estate to oil & gas leases. Specific to oil & gas, Warren Buffett recently amassed a HUGE position in Chevron leveraging this same principal. Everyone was selling off oil due to the Pandemic and the coming of electric cars.

Big money can be made if you know what you’re doing. On this episode we discuss this principal as well as dive into his asset selection process, favorite multifamily markets, & some risk mitigation strategies that served Chris well during the recent pandemic.

This Episode of The REI Diamonds Show is Sponsored by the Deal Machine. This Software Enables Real Estate Investors to Develop a Reliable & Low Cost Source of Off Market Deals. For a Limited Time, You Get Free Access at http://REIDealMachine.com/

Resources Mentioned in this Episode:
https://www.NextLevelIncome.com/

For Access to Real Estate Deals You Can Buy & Sell for Profit:
https://AccessOffMarketDeals.com/podcast/

View the Episode Description & Transcript Here:
https://reidiamonds.com/investing-in-multi-family-properties-150-to-300-unit-deals-with-chris-larsen/

Dan Breslin: Chris Larson is the founder and managing partner of Next-Level Income. He is been syndicating multifamily property deals since 2016 and raised more than $15 million over $150 million in acquisitions. Chris’s Company is focused on identifying high yield passive investments ranging from real estate to oil and gas leases. All in this episode, we dive into his asset selection process, favorite multifamily markets, and some risk mitigation strategies that served Chris well during the recent pandemic, as well as some other topics. Let’s get right to it.

All right, Chris Larson. Welcome to the REI Diamond show. How are you doing today?

Chris Larson: Dan, I am great. I am excited to be here with you. Thank you.

Dan: Nice. It is always looking forward to this high-volume multi-millions of dollars raised and you know conversations I get to have with guests like you, but you know for anyone who does not know your name already maybe does not know about your podcast. You kind of want to talk about maybe the evolution of your career, starting with let’s say you are first deal and then ending with your current business model Chris.

Chris: That sounds great. So I love real estate, I set off to be an investor when I was really a teenager. It is kind of a long story short. I race bicycles. I started racing when I was 14, and I will never forget that feeling of freedom I had when I first left my neighborhood on my bicycle. And it really instilled in me this ability to kind of go where I wanted to and do what I wanted, and when I was younger that meant racing my bike. And I got my driver’s license, I was excited to get my driver’s license so I could drive to races outside of the state. And so I was traveling, when I was 16 years old, up and down the East Coast across the country, and plans raced even at a national level. Until I was in college, and at that point, I want to be a professional cyclist.

I went to Virginia Tech I was doing an engineering degree and no I did not want to be an engineer, but I also did not want to be poor. And if anyone knows anything about cycling, they know those bike racers are pretty poor unless you are racing in Europe, which is a very very small portion. You just do not make a lot of money, like a lot of professional sports. So I was entrepreneurial. I would do different things in college, but I quit cycling after my best friend, my training partner my roommate, passed away. He had a massive brain hemorrhage. And spend another year kind of poured my heart and soul into the sport, but I realized I was not happy. I still wanted that sense of freedom and I thought well, I am not going to race my bike anymore. I am not going to be an engineer, What am I going to do?

I started day trading in the stock market in the late 90s, which there are a lot of similarities today Dan, in my opinion between the market than in the market now. This is very exciting also very stressful. So here you take a junior, 20 years old in college making $5,000 a month day trading but could not sleep at night. And one morning at 3 a.m, I just remember thinking, what the hell am I doing? And I start, I kept reading books. I have always been an avid reader and I started learning about real estate.

Chris & I Discuss How to Avoid Capital Gains Tax:
• Multifamily Property Market Selection
• Upcoming $100 Million Deal
• The Power of Purpose in Your Life & Career
• Reasons Why Larger Deals Offer More Control

Relevant Episodes: (There are 187 Content Packed Interviews in Total)
• Paul Sloate on 3rd Quarter 2018 Economic Market Update
https://bit.ly/3mIeHI8
• Chris Prefontaine on $75,000 Average Profit Per Deal
https://bit.ly/3s7nhks
• Land Entitlement Process for Multi Family Development with Reed Goossens
https://bit.ly/3dPMhHV
• Passive Real Estate Investing in Real Estate Development-with Mike Brown
https://bit.ly/3t6J9y3
• Financing Million Dollar Deals Post Covid with Anton Mattli
https://bit.ly/3s4ESJZ

Search Episodes

Episode 187: Investing in Multi Family Properties-150 to 300 Unit Deals with Chris Larsen

April 10, 2021

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Episode 186: Land Entitlement Process for Multi Family Development with Reed Goossens

March 19, 2021

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Episode 185: Reverse Wholesaling with Kent Clothier of REWW

March 6, 2021

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Episode 184: Get Max Cashflow from Buying Vacation Rental Property with Avery Carl

February 26, 2021

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Episode 183: Virtual Wholesale Real Estate Investing with Brandon Barnes

February 20, 2021

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Episode 182: Motivated Seller Leads from REI Radio Advertising with Chris Arnold – Real Estate Investor

February 12, 2021

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Episode 181: Anchorage Alaska Real Estate-Developing Million Dollar Homes with Joe Bell

February 5, 2021

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Episode 180: Buying Mortgage Notes Generates 15% + Returns with Brian Lauchner

January 30, 2021

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Episode 179: How to Make $300K/Year Investing in Mobile Homes with No Money Down

January 23, 2021

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Episode 178: How to Find Off Market Real Estate Deals with Zack Boothe

January 16, 2021

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Fleming Schutrumpf on Building a Rental Portfolio to Escape the 9-5

Fleming & Dan Discuss:

Buying in the “Right” Markets for Appreciation

Bankruptcy Impact on Evicting a Tenant

Best time to Buy Real Estate

Nightmare Tenant Issues & How to Deal with them

Importance of Building a Money Machine

Listen Now:

Mentioned Episodes: (There are 93 Content Packed Interviews in Total)

Do You Know Anyone Else Who’s a Real Estate Investor?

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

REI Diamonds Show with Ted Thomas on Tax Lien Investing

Grant Wise on Social Media Marketing for Real Estate

Fleming Schutrumpf on Building a Rental Portfolio to Escape the 9-5

Fleming & Dan Discuss:

Buying in the “Right” Markets for Appreciation

Bankruptcy Impact on Evicting a Tenant

Best time to Buy Real Estate

Nightmare Tenant Issues & How to Deal with them

Importance of Building a Money Machine

Listen Now:

Mentioned Episodes: (There are 93 Content Packed Interviews in Total)

Do You Know Anyone Else Who’s a Real Estate Investor?

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

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