From 0-400 Doors from 4000 Miles Away, with Suzy Sevier and Michael Barnhart
Once we found out that the entire world of real estate had gone online because of the pandemic, we knew that that was our opportunity.
02:40
Suzy and Michael were professional athletes until the pandemic hit. Due to the lockdown, they started reading real estate books and got interested in investing. Even though they lived in the UK, they decided to invest in multifamily in Tulsa and Oklahoma City, Oklahoma. In less than 2 years, they acquired 400 doors.
Suzy and Michael share the steps they took to become successful investors.
They started networking and became an active member in as many virtual real estate investor groups as possible.
They attended over 10 virtual conferences. Later, they reached out to every attendee on LinkedIn.
They established a strong social media presence and were actively creating content to get in front of people in the industry.
They found a mentor who understood the market they were trying to get in.
They got clear in their investment thesis and the markets they wanted to invest in and shared it with everyone.
“This whole business is about relationships. People want to be seen, heard, and understood. So if you want to create relationships with the brokers, you have to treat them like people.”
18:13
Suzy and Michael talk about how they invested in their first 88-unit multifamily in Tulsa, Oklahoma.
They reached out to every broker on Loopnet and Crexi who had more than one listings in their preferred market.
They put together a cover letter with all their information, including their mentor and their team.
Lastly, they called all the brokers and started building relationships.
Suzy and Michael focus on, what they call the greatest ROI. It means return on impact rather than return on investment. They try to have an impact on their tenants’ lives but also help their investors.
As a result of their successful investing strategy, Suzy was able to leave her W2 job this year as she fully replaced her job income.
“We like to be the strategic visionaries of our company.”
41:24
At the end of the episode, Suzy and Michael pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Build Your Team” and “Take the Risk”.
For Suzy and Michael, taking the risk means resisting the norms and pushing the boundaries. Even though they always heard to “invest in their backyard”, they resisted and invested outside the UK. This eventually gave them more time freedom as they didn’t have to be on the property physically. This also prompted out-of-the-box thinking and pushing their boundaries.
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