John Okocha - 1700+ Units, 1,000 People a Day; How to Break into Multifamily and Join a $150-M Team


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Nov 27 2020 42 mins   2
You might not know his name now, but you will know soon. Our guest for today is a rising star in the real estate business, John Okocha. John is Vice President of Acquisitions with the Elevate Commercial Investment Group and an integral part of growing more than 1,700 multifamily real estate units in 2019. He was 17 years old when he took his first real estate course. Almost a decade later, he’s now an executive of a real estate firm at 25. If John can do it, so can you. Let’s all welcome, John, and learn how to break into multifamily and join a $150-million dollar team. [00:01 - 06:46 ] Opening Segment I introduce our guest, John Okocha John shares his path to real estate First course in real estate at 17 years old How much did he spend on his first course? [06:47 - 15:10 ] Calling 1,000 People a Day John shares his transition from single family to multifamily He talks about how he is showcasing his value to his team He tells us a story on his first deal [15:11 - 22:40 ] Normalizing Expenses John shares some tips to underwrite a deal you don’t want to miss! What does he mean by “normalizing” expenses? How about “T-12,” “NOI,” and “rent roll?” He tells us what is an 8% cash-on-cash return [22:41 - 34:11 ] Borrowing Track Records John tells us how he’s achieved many things at his age Leveraging other people’s track record He shares his team’s approach before and during COVID-19 He gives a few golden nuggets about underwriting a deal John shares an interesting story you’d want to hear! [34:12 - 42:23 ] Closing Segment What’s next for John? He tells us the fastest way to get whatever we want Connect with John. See links below Final words from John and me Tweetable Quotes: “Treat people well. Treat people with integrity. Mean what you say…because it’s the right thing to do.” - John Okocha “Teamwork makes the dream work.” - John Okocha “Surround yourself with the people that have what you want. That is the quickest way to get what you want.” - John Okocha ------------------------------------------------------------------------------------------ Connect with Reid on LinkedIn, Facebook, and Instagram. Visit their company online and on LinkedIn, Facebook, Instagram, and YouTube. Guest Email: [email protected] Connect with me: https://www.5tcre.com/ Facebook LinkedIn Instagram Watch 5T CRE on YouTube Leave us a review and receive your free ebook Email us --> [email protected] Support the show (https://www.buymeacoffee.com/5Talents)