EP 03: How To House-Hack Your Way To Real Estate Fortune, with Former NFL Footballer, Hakeem Valles
Our guest on today’s show is former American football tight end, Hakeem Valles. Hakeem just retired from a three-year NFL career and what you might not know about Hakeem is that off the field he has been investing in real estate for the past seven years. Today, he is a full-time free agent currently focusing on multi-family property and getting into more alternative investments in the cannabis industry. He is also a keynote speaker and the proud father of a 10-month-old daughter. Hakeem believes that we learn quickly and more deeply when we take action when we throw ourselves in the deep end when we shoot first and aim later. In this episode, we hear how Hakeem got started in the real estate business with house-hacking and the greatest lessons he learned about the industry from living on his first property.
We hear Hakeem’s landlord horror story and how he discovered the hard way that hiring a property manager is the way to go! Hakeem also provides some valuable tips for pitching, raising money, collaboration, and why the fortune is always in the follow-up.
Key Points from This Episode:
Discover why Hakeem decided to take an alternative route to his education.
The benefits of house-hacking as a young person who doesn’t yet own a home.
Find out how house-hacking changed Hakeem’s entire approach to real estate.
What living on the first property you own can teach you about the industry (the hard way).
Drugs, fires, dog poop: When tenants go wrong and how a property manager can save you.
Why you need to know your tenants and put them through your own background checks.
The process of raising money: Where to find resources and keeping commitments warm.
The Mommy Effect: The ethical issues with many NFL players in real estate today.
Tips for pitching and how to present an opportunity without seeming desperate.
How many people to meet with and how long to sit with people on an educational deal.
Why you should lean into people and work on fostering collaboration over competition.
And much more!
“You don’t have to be that educated before you get started. Throw yourself into the fire. Learn by action.” — @HakValles80 [0:11:20]
“Charlie Sheen said it best when he said: ‘Can’t is the cancer of happen.’”— @HakValles80 [0:24:50]
“When it comes to pitching, humans aren’t stupid, they know what desperation and fake energy feel like.” — @HakValles80 [0:46:10]
“Once you get your commitments, that don’t mean shit.” — @HakValles80 [0:51:10]
“The fortune is in the follow-up… Don’t be afraid to reach out, then follow-up like a mad man!” — @HakValles80 [0:59:25]
Links Mentioned in Today’s Episode:
Get in Touch
Interested in Investing With Us? Click Here
Connect with Chris - https://linktr.ee/chrisgrenzig
Toro Real Estate Partners - http://tororep.com/
The Real Estate Investing Experience - https://www.thereiexp.com/
The REI Experience YouTube - https://www.youtube.com/channel/UCjt6pmkA8ogACZ26oqhBM0g
The Real Estate Investing Experience Podcast - https://podcasts.apple.com/us/podcast/the-real-estate-investing-experience/id1481520260