Good Morning!
Before we begin, I’d like to mention that I’m looking for an Acquisition Manager to work the North New Jersey region based out of our office in Folsom, PA. We provide leads, training, & capital. Go to Careers.DiamondEquity.com for details on how to apply.
Here are today’s highlights:
- 37 19 Unit Portfolio For Sale, plus 24 Fix & Flips
- 10% Passive Returns with Short Term Loans
- Creating $10M+ in less than 18 Months on One Deal (podcast)
- Commercial Academy is August 23-25. You coming?
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Private Lending Webinar Replay – Podcast Coming Soon
Last week I hosted a Private Lending Webinar covering both the Fix & Flip Investor & Private Lender’s perspectives. I also recorded an REI Diamond Show episode with my dad as the guest. He’s been a private lender for years.He and I also discuss the founding of Diamond Equity Investments back in 2006 & his experience in making a few dozen private loans himself.
This episode, along with the Private Lending Webinar replay will be released. Keep your eye out! For the earliest notification of release, follow the REI Diamonds Show on iTunes, Spotify, YouTube etc.
Right now I have a Private Lender who needs his capital back on a project we are constructing in Berwyn, IL. The loan amount is $380,000 and the property is going to sell for $535,000-$565,000. We are paying for additional construction out of pocket, so the loan of $380,000 is going back to the original lender. This loan pays a 10% interest balloon payment when we return capital, likely in 6 months. Email me back if you’d like to fund this loan.
Creating $10M+ in less than 18 Months on One Deal (podcast)
If you’ve been following this newsletter, you probably already know the name Saul Zenkevicius. Saul & Rafik (last podcast released) have bought, redeveloped, and are leasing up the Piqua Center-a 500,000 Sq. Ft. dying mall (pictured below). Saul shares the exact method used to turn this deal around and create more than $10M in value in less than 18 months. Check out Saul’s REI Diamonds Show episode here.
Cleveland Commercial Academy Event August 23-25
Rafik, Saul, & I all network and study commercial real estate at the Diamond Inner Circle Mastermind, which begins each even with the Commercial Academy. If you register as my guest, using this Commercial Academy Registration link, you may attend for just $897. After you register, please send me an email so that you & I can connect at the event.
At this event you will meet & hear how many people are doing deals with profits in excess of $1M. I invest in commercial real estate deals for scale & simplicity. Large amounts of capital can be placed, managed intelligently, and create large returns. I prefer this over my single family & apartment portfolio-which is why my units are now for sale. See below:
37 Unit Chicago Portfolio For Sale
15 Units @ 9211 S. Laflin Street, Chicago IL 60620 $1,249,000(Sold)
10 Units @ 6221 W. Wabansia St., Chicago IL 60639 $1,149,000
3 Units @ 871 N. Richmond St, Chicago IL 60622 $699,000
3 Units @ 9235 S. Brandon St, Chicago IL 60617 $279,000(Sold)
6 Units @ 1843 W 54th Street, Chicago IL 60609 $399,000
These are all listed on the MLS individually, but may sell at a discount if you buy as a complete package. For additional detail, please connect with Jason Marcordes, IL broker, at 630-842-5557 or [email protected]
Prefer Flipping Houses? Or Rentals? 24 More Deals Available at www.DealsWithROI.com Atlanta, Chicago, & Philadelphia Regions
The Decision to Get Rich
My mentor, Dan Kennedy, told me that if you want to get rich, you have to first make a decision to get rich. Then you have to develop the mindset that people who are already rich have developed. He then went on to recommend several books which, when read correctly, would create that same mindset for the reader.
I’ve created a list of the most impactful of those recommendations, along with a short description of each big idea while reading. You can view my reading list here.
BTW, these are required reading for the team here at Diamond Equity. In fact, I hesitated to share this list publicly because these books have been a superpower for us, a competitive advantage. That said, this list is now yours and I sincerely hope you become rich yourself. (or even more rich, if you’ve already made it!!) Happy Sunday!