Are you willing to offer your time and work for free if it means you can learn?
In this episode of The Real Estate Mindset podcast, Seth Teagle and I chat about how he made the jump towards vertical integration in multi-family real estate.
For those who don’t know, vertical integration is a strategy that allows a company to streamline its operations by taking direct ownership of various stages of its production process rather than relying on external contractors or suppliers. A company may achieve vertical integration by bring everything in house rather than outsourcing.
Seth explains how he was able to get started in this world by offering his time to people who were already doing what he wanted to do, in exchange for mentorship. Today, he offers the same possibility to those who ask him how he did it.
We also discuss the importance of finding your “why” before you jump into the real estate world. The reason is that it’s a lot easier to get through the roadblocks you encounter when you have a “why” behind it that is motivating you. However, the “why” doesn’t have to stick and be the same; it can be reevaluated and changed throughout time as your life changes as well.
What we discuss:
00:00: About Seth
02:28: How did Seth get into real estate?
08:20: What are Seth’s markets?
11:02: How Seth brought construction in-house?
13:56: Is property management in-house too?
16:55: What are the pros and cons of vertical integration?
18:35: How do they find deals?
21:18: What advice Seth would give to someone who is starting out?
25:12: Are things getting easier for Seth as things go?
27:37: What books does Seth recommend?
29:42: What is Seth’s morning routine?
31:30: What is Seth’s experience with coaching?
35:15: What’s something Seth has done in the past that he wouldn’t repeat?
38:08: What’s Seth’s go-to mindset tip?
40:00: What made Seth successful?
To learn more about Seth: