Real estate investing is tough without a plan. Some beginners think real estate investment starts when they buy a property. But that is not always the case.
Sterling Chapman of Crestworth Capital joins me to explain how to grow your portfolio strategically. We also talk about how to achieve success in the real estate industry. What do we need to do, and with whom?
Tune in to the episode to change how you strategize your portfolio growth!
Here are some power takeaways from today’s conversation:
- Buy the right property
- The mindset you need to succeed
- Learn why you should delegate
- What separates you from success
Episode Highlights:
[03:57] Find the Right Property
Let go of attachments to locations when buying property. Sterling also recommends asking the following: Population trends — is the population increasing or decreasing? Job market — how good and diverse is the market? Crime and poverty rates, and supply and demand?
[08:59] Sterling’s Secrets to Growth
Sterling’s first property was in 2018. He credits his growth to Napoleon Hill. He realized he had the power to become rich.
[16:48] How to Manage Money
Balance money and keep a source of profit. Sterling sometimes covers underperforming portfolios, but he knows most of his profit will come from flips.
He determines what to flip through a price-to-rent ratio.
[19:15] Balancing Responsibilities
Sterling has always preferred flexibility. He last needed to manage his own properties in 2019. Today, he delegates that responsibility to others.
[25:01] How People Succeed
Everyone is functioning at 10% of their capacity. The line that separates the average and elite is productive discomfort. This discomfort involves overwhelm, frustration, and pressure. Remember, it’s not about motivation — it’s about discipline. Take action first. Surround yourself with people you want to be like.
[35:18] Financing and Finding Deals
Sterling typically taps into the following lenders: smaller community banks and a national hedge fund. He also launched a marketing campaign to get wholesalers to offer deals.
Notable quotes from the Episode:
[08:51] “The best way to be careful is to just make sure you’re in a growth market that is going to continue to have a high demand for the tenant base.”
[23:13] “I constantly feel overwhelmed. The answer is just creating systems to do it —who not what, how other people fill in the gaps.”
[30:10] “It’s not motivation, it’s discipline.”
Resources Mentioned:
Connect with Sterling Chapman: Crestworth Capital I Website I Facebook I Youtube I Instagram I Rent Roll Radio Show
The Mentee Podcast: Website | Apple | Spotify
Mentorship Mastermind Community
About Sterling
Sterling Chapman is the President of Crestworth Capital and host of The Rent Roll Radio Show. With a portfolio of 75 rental properties and several apartment syndications, Sterling reached this incredible portfolio in just five years.
