In today’s episode, learn from slow to go: 22 Months of Failed Deals To millions annually in closed deals with Philip Blake.
Phil Blake is the founder of Stride Investment Group, Inc, one of the top-performing wholesale operations in Metro-Detroit with subsidiary branches in Charlotte, NC, and Raleigh, NC. S.I.G operates 100% virtually while averaging 100 deals per year, keeping the core values of Passion, Perseverance, and Progress close to heart.
He was born in Detroit, MI, and also has a Bachelor of Science in Mechanical Engineering. Phil Blake also participates in lucrative commercial real estate transactions, having recently set his focus & resources on the acquisition of multi-family apartments, self-storage, and mobile home parks.
In his personal life, Phil Blake is big on health, diet, & fitness and giving back by actively mentoring those who seek financial freedom through real estate.⠀
Listen to the full episode as Philip Blake answered our HOT SEAT questions directly to the point and learn actionable tips and key metrics that will help you along your journey!⠀
4:00 Pivoting from College grad Engineer to working in Real Estate (How reading got me into real estate)
9:54 Maxed out my $1500 credit card to get my first deal
14:00- 16:50 Investing in a mentor the benefits (the trust, framework, blueprint and valuing the knowledge
17:30 Sacrifices to success
20:00- Perseverance 18 months of investing and going to school how I finally got my first deal!!
23:28 After First Deal $30,000 over asking to make $50,000
26:25 A Year and a half of getting properties under contract and not closing
27:20 Philips mindset caused deals to fall out of escrow, how was that?
29:39 Flat Fee listing agents to move your deals.
31:00 Let’s talk Memorandum of Agreement (Link in the show notes)
37:25 Scaling from 15 deals a year to 100 deals
40:06-43:02 Taking my business to a new level expanding to be more consistent.
43:12 -46:50 How to hire your team
48:20 The power of masterminds
49:24 Philips perspective on competition and debunking the saturated market questions
54:09 Less deals and more profit, how is this possible
58:30 Choosing different Market’s
1:02:04-1:03:35 Building different virtual teams in different markets
1:08:09-Pivoting to commercial markets
Hot Seat 1:20:15⠀
Thanks for listening to this episode! And, if you enjoyed this episode, please share it on social media using the social share buttons below, and don’t forget to leave a short review on iTunes.
Also, if you want to learn more about real estate wholesaling, feel free to visit my website and youtube channel. If you get value from the videos and content we’re putting out, please subscribe.⠀⠀⠀
Schedule Your 15 Minutes Free Consultation with Marcus at:
𝐆𝐫𝐚𝐛 𝐦𝐲 𝐅𝐑𝐄𝐄𝐁𝐈𝐄𝐒 𝐑𝐞𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐟𝐨𝐫:
Also, find the show on Feedspot: https://blog.feedspot.com/real_estate_podcasts
Enjoy the Real Estate Journey!⠀