Ep 60: Buying a New Deal is Buying a New Business with Dan Handford
Today we have Dan Handford from passiveinvesting.com and Multifamily Investor Nation back on the show to take a closer look at his journey into real estate and catch up on more recent developments in his business! We have a great chat with Dan today all about growing wealth through real estate, the business of syndication, and learning how to delegate! We begin by discussing how Dan built up his first business in the chiropractic field while in college and got into real estate investing after hitting seven figures in year two to reduce his taxable liability. This leads to a focus on the pros and cons of partnering with investors for buying bigger deals and we talk to Dan about why he chose turn syndication into a business. Our guest weighs in how his decision fits into ideas of syndication not being for everybody and that he makes smarter decisions when other people’s money is involved. We turn our attention to the different ways Dan likes to find new investors and build trust with current ones using different channels for communication and education. From there, we chat with Dan about the lessons his first business taught him and he talks about the value of partnering up and hiring so that he can focus on the best use of his time. For all this and more from a visionary founder and CEO, tune in today!
Key Points From This Episode:
Dan’s journey into real estate investing using excess capital from his chiropractic clinics.
When taxes got too big for Dan and he decided to learn more about debt and investing.
Mindset shifts: seeing dollars put away into real estate as a way of earning more long term.
How Dan moved to invest in larger deals to reduce his taxable liability significantly.
Plus sides of taking on investors and why Dan chose to focus on syndication.
How it’s easy to lose your own money but hard to take on risk with raised capital.
Treating syndication like a proper business and seeing assets as businesses too.
Dan’s investor-centric approach and how he likes to educate and win investors.
Business leads Dan has received since COVID due to multimodal marketing.
Dan’s perspectives on when to use paid advertising and retargeting.
What Dan learned from his chiropractic business to apply to his real estate one.
Dan’s hiring process and how he focuses on the best use of his time: investor relations.
How to get in touch with Dan and learn more about multifamily investing.
“When you have other investors that you are accountable to, it makes you better at making decisions on the investment.” — @1toughdecision [0:18:10]
“Are we buying real estate or are we buying a business? Because, at the end of the day, we’re really buying a business.” — @1toughdecision [0:26:14]
“We want to make sure that our investors understand the types of investments they are getting in and the more you can provide education to your investors, the more they are going to want to invest with you.” — @1toughdecision [0:30:08]
Links Mentioned in Today’s Episode:
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The Real Estate Investing Experience Podcast - https://podcasts.apple.com/us/podcast/the-real-estate-investing-experience/id1481520260