Our guest today is Ali Hashemi, a real estate investor from Indiana. He shares what led up to his first multifamily buy and his strategy along the way. If you are ready to take the leap into real estate and need some help to refine your search and build your strategy, then this episode is for you! To learn more about Ali and his journey, visit reiclarity.com!
“You learn a little bit of the landlording experience just by owning and running your own house.”
03:10
Ali first got into real estate investing when he moved to Indianapolis and bought a property for himself. He had to learn how to manage the house by himself, and when he sold it a few years later, he decided to invest in more properties from the cash. He started to share his interest in real estate with people around him and found a lot of help this way. He talks about how he refined his searches and created a strategy for himself in the beginning.
“Ask yourself, how and when do you want to make money”
11:08
When Ali moved to Martinsville, he decided to focus on multifamily investing. He knew his price range and that he wanted the properties to be within a driveable radius.
Ali’s REI advice if you are a new real estate investor is to ask yourself how and when do you want to make money.
- If you want an immediate return, flips are a good way to do that, however, you’re not building equity this way.
- You can buy and hold to build reliable cash flow and build equity.
- Or you can go with the BRRRR method when you buy a property, refinance it, pull the money out of it, and buy another one.
Ali chose the buy and hold method as he wants to build equity and long term wealth.
“If you’re going the bank route, which is the route I went in, I found that small regional banks are primarily the ones you want to start with.”
24:30
According to Ali, a commercial loan is much looser and freer in structure than a federally backed single-family loan. This is another reason why he went with multifamily investing. He found that small regional banks are the best for lending because they’re interested in lending in their immediate area and they know the market. His advice for business owners is to get to know your lender and create valuable relationships with them.
Ali bought his first multifamily in 2017 and currently has 15 units. He would like to scale up to 100 units in the near future.
Ali’s 3 pieces of advice for real estate investors to find REI clarity:
- Share your interest in real estate with others, because this way you can build valuable relationships and learn.
- Refine your search.
- Decide which lending direction you want to go and get to know your lender.
Mentioned in the show:
- His email
- His Facebook
- Chris McChesney, Jim Huling, and Sean Covey: The 4 Disciplines of Execution
- www.shineinsurance.com/
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
Special thanks to Ali Hashemi for taking the time to share so many great insights with us
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Until the next time, We truly appreciate you listening.
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