If you're new to Real Estate Investing and concepts in Raising Private Capital, you may not know just who Samuel Freshman is, but you need to. He wrote Principles of Real Estate Syndication, one of the best books to read if you plan on taking your Real Estate Investing business to the next level. If you're new to investing, rest assured that Samuel started just like you are, one step at a time. While today he is a professional syndicator, Real Estate promoter and author, he wasn't always. This conservative and highly successful investor began as a lawyer. When he got out of school he asked his father what he should do. His dad was a smart guy, because his answer was to follow the trend of what was happening in Real Estate in California where Samuel lived.
His dad told him to become a Real Estate Investor. After working as an attorney, Samuel realized just how right his dad was, because his wealthiest clients were those who invested in Real Estate. BINGO! A light bulb flipped on and Samuel dove in (conservatively, of course). He says that he earned more in ONE deal than he earned in 20 years working as an attorney. He was hooked. While he no longer practices law, he certainly uses his skills in his investment team. He likes to handle the legal stuff and numbers. He lets his team do the other parts that they're best at doing. Samuel also says he made plenty of mistakes. Two are not buying enough property and selling too soon. And he says that when it comes to Real Estate it's really not about location, location, location but rather how you get your deals financed. Listen to this incredibly educational Cash Flow Diary podcast episode to learn more about leverage, using debt and equity in deals, the importance of networking, how to be a successful syndicator and other things Samuel has learned as in investor over the past 60 years and five recessions. There's an event you'll want to attend, too. It's something he will definitely be at and it's all about Creative Financing. That happens in Los Angeles on September 16, 2014. Look it up on www.CreativeFinancingConference.com. If you're anywhere near L.A., get there. FOR NOW, LISTEN TO THIS EPISODE.