Jeremiah Boucher built a $400 Million portfolio of commercial assets (self-storage facilities, mobile home parks, industrial assets) from zero, through constant improvement, investing ahead of the curve, and hard work & execution.

In this episode:

• Evolution of an Investor: Jeremiah talks about the journey of being an investor and how evolution in business revolves around mastering your craft over time.
• Mentorship and Learning: He highlights the influence of his mentor, Matthew Ferry, and the importance of understanding language and communication skills in sales and real estate.
• Formulation Stage: This is where you start with an idea, explore the basics, and feel excitement despite not knowing everything. Jeremiah recalls his start in real estate with no money down deals as exciting but full of unknowns.
• Concentration Phase: A challenging phase where hard work might yield minimal immediate returns. Jeremiah references his cold calling efforts during tough financial times and the importance of dedication.
• Networking Value: Emphasis on the importance of human networks, compared to Metcalfe's Law, explaining that as networks grow, their value becomes exponential due to increased connections and intelligence.
• Momentum Phase: Once skills are honed, success begins to flow more naturally, offering more opportunities and a deeper, more valuable network.
• Avoiding the Pride Trap: Jeremiah warns against the dangers of pride during success, stressing continuous hard work and vigilance to prevent falling into complacency.
• Stabilization Phase: This involves building systems and having the right people to maintain business continuity. Jeremiah learns this through personal experience with employee challenges.
• Breakthrough Opportunities: Once stability is achieved, new opportunities can be explored. Jeremiah talks about rising above current operations to spot new initiatives and possibilities.
• Embracing Challenges: Jeremiah encourages embracing discomfort and persistence, learning from failures, and experimenting, rather than viewing challenges as a constant grind. He emphasizes the enjoyment and growth found in this journey.

Are you interested in investing in Commercial Real Estate?
Learn more at www.patriotholdings.com

Jeremiah Boucher built a $400 Million portfolio of commercial assets (self-storage facilities, mobile home parks, industrial assets) from zero, through constant improvement, investing ahead of the curve, and hard work & execution.

In this episode:

• Realistic Expectations: Making money in real estate involves more than the often-touted "easy" paths. It's important to understand the realities and challenges involved in different asset classes.

• Finding Your Edge: Find a competitive edge in real estate investing by seeking out less crowded asset classes or markets. It's about being a first mover to drive higher returns.

• Active vs. Passive Investing: Differentiate between being an active investor who manages properties and a passive investor who invests in general partnerships or funds. Each approach has its own set of challenges and requirements.

• Importance of Timing: Beyond location, timing plays a crucial role in real estate success. Market cycles can affect investments significantly, and understanding when to enter or exit is key.

• Long-term Perspective: Have a long-term horizon, typically at least ten years, for accruing substantial wealth through real estate. Patience and timing are crucial to success.

• Leveraging Debt Carefully: Real estate often involves leveraging properties with debt, which can be risky if cash flow is not managed properly. Adequate reserves are essential to weather downturns.

• Choosing the Right Partner: For passive investors, selecting a trustworthy partner or sponsor with skin in the game is crucial. The focus should be on the partner's expertise and commitment.

• Tax Advantages: Real estate offers tax-deferred benefits, especially through methods like the BRRR strategy, allowing reinvestment without immediate tax burdens.

• The Role of Teams: Real estate is a team sport, requiring collaborative efforts to manage, market, and maintain properties effectively.

• Communication and Integrity: Ongoing communication with partners or sponsors and understanding their history, including past failures, is vital for building trust and ensuring a successful investment relationship.

Are you interested in investing in Commercial Real Estate?
Learn more at www.patriotholdings.com

Jeremiah Boucher built a $400 Million portfolio of commercial assets (self-storage facilities, mobile home parks, industrial assets) from zero, through constant improvement, investing ahead of the curve, and hard work & execution.

In this episode:

• Introduction: Jeremiah Boucher introduces Jared Elmar, owner of the Geneva Group, who is launching his book "Built from Nothing." Jared has experience across multiple real estate sectors except self-storage and mobile home parks.
• Jared's Background: Jared initially had a radio show focused on financial services like life insurance and wealth transfer, which got affected during the global financial crisis of 2008. He reinvented himself by focusing on real estate investment.
• Transition to Real Estate: Jared began investing in residential properties and sold most of them before the financial crash. He then transitioned to commercial real estate, starting with multifamily units.
• Challenges and Growth: Jared's first multifamily deal was a challenging one, with significant issues like crime and accidents, but was successful in generating returns for investors. This deal sparked his interest in syndication.
• Strategic Adaptation: Jared shifted from multifamily to industrial and retail spaces due to scalability issues with multifamily. His approach involves adapting to different asset classes and market conditions.
• Importance of Intuition and Vision: Emphasize the role of a visionary in identifying deals that others may overlook, focusing on intangibles like market conditions and potential property improvements.
• Current Market Strategy: Prepare for future opportunities by enhancing his acquisitions efforts and anticipating foreclosures, believing that capital flow changes cap rates rather than interest rates.
• Negotiation Skills: Value authenticity and emotional intelligence in negotiation, stressing the importance of understanding the seller's motivations and conditions beyond just the numbers.
• Leadership and Culture: Jared fosters a culture of philanthropy within his company, encouraging his team to engage in charitable activities, which has contributed to the company's positive work environment.
• Fitness and Mental Clarity: Fitness is a crucial aspect of Jared's life, providing mental clarity and discipline, which supports his resilience and leadership capabilities.

Are you interested in investing in Commercial Real Estate?
Learn more at www.patriotholdings.com