I had a call with Nizan who is a true professional and genuine influence in the Abundance mindset. He grew up in New York and spent time living in Israel and Germany as well as traveling all over the world before finally landing in Florida where he invests in the southeastern states of the country. Nizan briefly talks about his company called traveling investor which is a mentoring coaching company where he coaches and mentors people on how to become successful, mindset on using imagination for manifestation. He mentors people through commercial real estate, single-family real estate acquisition, fixes and flips, raising capital, and all stuff related to real estate.
To listen to Nizan Mosery’s Alchemist Nation Real Estate Podcast on Anchor: #86 Alchemist Nation Real Estate Podcast – Nizan Mosery Built An Empire Of 700 Units & Growing.
I ask Nizan how he got into real estate in the first place. He says he has a great story behind this and when growing up their father told him and his brothers that the richest person in the world is that person who owns a piece of land free and clear. His father said that there are many opportunities that come with this free piece of land like mortgaging it, renting it out, building on it, and this one thing that will always appreciate no matter what. They were brought up with this kind of mentality and their father always told them that there are two kinds of people in this world i.e those that collect rent and those that pay rent. He says that real estate was in the background while doing a lot of other things.
I also ask Nizan where is he investing right now. He says that they are now investing in the southeast quadrant of the US for multi-family apartment complexes i.e northern Florida all the way up to Virginia, touching on Alabama as well. Unfortunately with COVID-19, they have to go after sellers that are willing to give them a discount or give them an extended closing date so that they can get out of this COVID-19 situation where they don’t have to come up with 6, 12, 18 months of reserve which basically kills the numbers.
I further ask Nizan how is he financing the deals interest rate wise since COVID-19 has slowed down some of the deals and what kind of typical product is he going in with is it hedge fund money or commercial banks when financing these large deals. He says that they use Fannie Mae and Freddie Mac and they’re direct to a few of the lenders like Arbor, Meridian, Reay Capital who are directly connected to Fannie and Freddie, meaning that they don’t have to go through a mortgage broker to find them. He says that it is extremely nice because they will get the 1% debt placement fee that would have gone to the broker but comes to him and his team and they will have to split that.
I finally ask Nizan if he does in house property management or he outsources a lot of property management. He says that some of them are in-house because they have their own property management company called Jade property management where he and his partner manage their 3 assets in Georgia and the rest they outsource. Nizan gives the reason as to why they decided to go to the in-house for property management in Georgia which is that they struggled with property management companies over there. The first company was charging them as if they had 300 property units, the next company didn’t know what they were doing and put them in debt, and finally, they decided to go in-house for Georgia.
Nizan offers 3 pieces of advice to 20-year-old Nizan on how to get started.
1) – You don’t have to go to college to succeed.
2) – Figure out a way to create a passive income stream so that you start it once and it will feed you for the rest of your life and will have an appreciation as well.
3) – Find somebody who has what you want, do what they did and you’ll get what they got.
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