Mar 26 2022 19 mins 2
Ever heard of a deal where you get the benefits of both multifamily and single-family homes? Steve breaks down exactly how this is done through fourplexes as well as the considerations to make this process flow smoothly as possible. Steve Olson is the director of the Fourplex investment group. They build master plan fourplex communities in Utah, Idaho, Arizona, and Texas. Listen as he shares the strategies to employ when dealing with fourplexes for better positioning. [00:01 - 04:30 ] Opening Segment Steve on discovering real estate in college and realizing that it’s better than law school How buying land in 2010 was insane and building fourplexes are a good idea Bridging the gaps and producing value-adds on fourplexes [04:31 - 11:19 ] How Fourplexes Generate the Benefits of Multifamily and Single-Family Identifying the investor in the deal - fourplexes owned by different investors Adding value for higher potential stabilized cap rates through projections The virtue of patience and constantly building relationships with investors [11:20 - 18:22 ] Why the Name of the Game is Flexibility Getting the investors cross the debt finish line Steve shares the Idaho deal story - realizing adjustments to make in the process Defining affordable housing by considering the investor [18:23 - 19:05] Closing Segment Reach out to Steve See links below Final words Tweetable Quotes “As long as you do right by the investors and you deliver the product, it [finding more investors] doesn't tend to be a challenge. But that can ebb and flow with the challenges in the market.” - Steve Olson “You got to focus on those markets with population growth, low unemployment. If you're building real estate in markets like that, and you're patient, you will generally win.” - Steve Olson “The name of the game is flexibility.” - Steve Olson ----------------------------------------------------------------------------- Connect with Steve Olson on Linkedin. Visit his website and email him at [email protected] Connect with me: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook LinkedIn Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me → [email protected] Want to read the full show notes of the episode? Check it out below: Steve Olson 00:00 Take more time. Give yourself as much flexibility as you possibly can because we are in unknown waters right now. And while there's a tremendous demand for the product, it's difficult to bring it to the market. I will say it comes with a good thing. The rents are just going up when it's difficult to get products on the market. And there's a huge demand for that product. I don't like planning on higher rents, but I've never not seen it over the last 18 months. It’s definitely happening. Intro 00:28 Welcome to the How to Scale Commercial Real Estate Show. Whether you are an active or passive investor, we will teach you how to scale your real estate investing business into something big. Sam Wilson 00:40 Steve Olson is the director of the Fourplex Investment Group. They build Master Plan Four-Plex communities in Utah, Idaho, Arizona, and Texas. Steve, welcome to the show. Steve Olson 00:50 Good to be here. Thank you for having me, sir. Sam Wilson 00:52 Hey, man, pleasure’s mine. Same three questions I asked every guest who comes on the show in 90 seconds or less. Can you tell us where did you start? Where are you now? And how did you get there? Steve Olson 01:01 Well, I started in real estate. When I was in college, I worked for one of the late-night infomercial gurus just shipping boxes and administrative stuff. His name is Robert Allen, many people probably know him. And I just inadvertently heard some of the real estate coaches talking about real estate. And I thought, hey, that kind of sounds pretty g [...]
