From The Bottom To 5 Billion Dollars In Real Estate | Tom Hoban
In this episode of the Millionaire Mindcast, we have a wonderful guest Tom Hoban who shares tastes of wisdom and tons of value talking about loss deals and its expensive lessons, how to attract potential capital partner, interest rates movement, figuring out someone resilience, tips on leveraging your very first deal for real estate newbies, and his journey to 5 billion dollars’ worth of real estate! Tom Hoban, is a successful entrepreneur, an expert in real estate investing, Chairman & co-founder of the Coast Property Management, and Coast Group of Companies, one of the region’s largest and most respected property management firms, managing more than $8 billion in real estate assets in multi-family, office, flex, mixed use, self-storage, retail, and industrial, serving property owners, investors, and developers. Its real estate investment firm, CEP Multifamily, leverages that platform to serve those who seek a passive investment means to access the marketplace. In early times of his career, Tom became a syndicator, direct investor and an operator. He spent 35 years in the commercial real estate business, working with property management business with his brother as the business partner. They love being a job creator and owning a community that touches many people's lives through their property management platform. Presently, Tom experiences massive success while making impacts to the world. Some Questions I Ask: Take us back to where did the 5 million dollars’ worth of real estate start? How do you protect your deal on the downsides? How do you overcome that newness and look to take that next step up? How to overcome the initial hurdle of executing the plan? What is the good rule of thumb for a balance sheet guarantor for every tear of purchasing power? What are the good ways to structure deals for people that can’t do it by themselves to be in the game? How do you sell yourself, your deal, and your brand to capital partners? What is your overall economic outlook going forward? In This Episode, You Will Learn: Matt takeaways from a downside deal How to reduce risks and avoid big pitfalls in real estate deals What Tom have learned from his deals Tips for real estate investing newbies How do Tom structure deals and fees Common mistake that people do in negotiating deals The importance of market knowledge and access to deals Quotes: “You actually have wisdom because you hang around other people with wisdom.” “The more experience and wisdom you can surround yourself with to guide you along the way, the better your chances are of avoiding big pitfalls.” Connect with Tom Hoban on: Hoban Family Office Email: info@hobanfamilyoffice.com LinkedIn Sponsor Links: Policy GeniusGet a free 60-day trial in Shipstation with code: MINDCAST Talkspace use code for $100 off: MINDCAST GoBundance - Text: MILLIONAIRE to 844.447.1555 Credit Investor List - Text DEALS to 844.447.1555 Free Financial Audit: Text XRAY to 844.447.1555 Connect with Matty A. and Text me to 844.447.1555 Show Brought To You By: TheRichLifeAcademy.com Episode Sponsored By: TheRichLifeStore.com Questions? Comments? Do you have a success story you would like to share on the show? Send us an email to Questions@MillionaireMindcast.com