KSS 50 | Buying Bulk Properties

 

There is beauty to buying bulk properties but you have to understand the risks involved. In this episode, Kevin Shortle interviews real estate investor and entrepreneur Ben Fredricks where he talks about his journey from the financial world to the real estate industry. Here you will grasp some insights on buying bulk property but also applying the note business as well. Having done over 400 real estate transactions in 30 different States, Ben has gained more than enough knowledge on buying bulk properties. He also talks about different marketing channels as well as his views on the demands for seller financing. Join Kevin and Ben as they make their conversation more interesting with the upcoming Annual Noteworthy Investor Convention.

Listen to the podcast here:

How To Grow Your Investments With Bulk Properties With Ben Fredricks

Thank you once again for joining me on the show. Thanks for sharing it with a friend. For those of you who belong to real estate Meetup groups or real estate investment clubs and get on webinars, I do appreciate you sharing the show with other people. We’re well over 6,500 downloads now, I’m happy about that and I hope to be hitting 10,000 before long. I do appreciate that. If you enjoy the show, please go ahead and give me a nice rating on there. Believe it or not, that does help quite a bit. If you’re on iTunes or anything and you liked the show, please reflect that in your star rating there. I am looking forward to starting off 2020 with a bang. I’m going to have a lot more live training scheduled for everybody so please check KevinShortle.com on a regular basis. I’m going to start adding training events there and I look forward to seeing you at these events. We also have some national events coming up that we’ll be talking about. There’s the distressed debt conference down in Fort Lauderdale.

We also have a NoteWorthy event coming up as well. I’ll give you dates and times on all of those events and we can kick off 2020 in a big way. Inventory levels and everything else is looking solid throughout the rest of the year. I talk about the state of the industry and the state of the inventory in our industry on a regular basis. If you go to my website and look at the blogs, these blogs are only five to six minutes long, video blogs for the most part. That will keep you in touch with the industry because I read all the news that you probably don’t have time to get to. I report on it for you and equate it back to the note investment business. Thanks for getting on the show.

I have a great guest for you once again on the show, a gentleman by the name of Ben Fredricks. He is right here in Florida, not too far from where I’m located. We’ve met over a couple of live events. The first time we met was the NoteWorthy Convention in 2018, where he won Investor of the Year. I brought him on to talk about his journey from the financial world into real estate and also in the upcoming NoteWorthy Convention. You are going to enjoy this. He’s got a lot of insight. He has done a lot of transactions. In fact, he did over 400 real estate transactions in 30 different states specializing in buying bulk property but also applying the note business as well. This is going to be an information-packed for everybody. Ben, thank you so much for taking the time for being on.

I appreciate it, Kevin. I’m a big fan of your show. You put out a lot of great content.

I appreciate that. Thank you very much. I remember you mentioned that. If you wouldn’t mind, let’s start here. You come from a financial background like Lehman Brothers and that sort of thing. Eventually, you migrated into the real estate world. I’m always curious when I see that. What was the thought process there? Was real estate always the attraction, but you started someplace different? Were you in the financial world and then said, “Real estate looks like a good place to go?” How did that evolve for you?

I grew up watching my grandmother invest in real estate. I always thought it was interesting. I was the kid that helped mow the lawn for her rental properties, do some of the fix-up in sweat equity when she bought a duplex. I always thought it was interesting and I never envisioned as a kid like, “I’m going to be some big real estate investor.” It’s not that I am some big investor now, but it wasn’t in the back of my head. When I was working for Lehman Brothers, that was on the mortgage side of the industry. I was starting to buy real estate at that time. Fortunately, it was the wrong time. After the collapse of Lehman Brothers, I lost my job. My wife lost her job. She was working for Chase Manhattan Bank and we pretty much got our asses handed to us at the recession. At that point, this is the only reason I went into financial services, I was like, “That was a fun experiment. It’s a lot harder than I thought it was and I’m not going to do it anymore.” I started going through financial services and spending time in that industry. I realized that it wasn’t for me. I hated it. I did well at it. I was a top performer and all that fun stuff. I got to qualify for the trips and help people plan, but my passion wasn’t there. I knew I wanted to get back to real estate. I just had to re-develop my confidence.

When you got into real estate, you immediately got into a partnership type of relationship or start buying single properties. What did you do there?

Towards the tail end of my time in financial services, my wife was going to school to be a chiropractor. At that time, I told her, “While you’re in school, I’m going to spend these last two years in school for myself.” I started feeding myself. I started listening to every podcast, every YouTube video, reading every book and diving headfirst into a lot of personal development because my confidence was shot for investing in real estate. I had to rebuild myself completely from the ground up. It started with buying a rental property with a friend of mine in Iowa, where I’m originally from. We bought one rental, owned it for a year and thought, “This is working well.”

We bought another one and then slowly started buying a deal in a year for a couple of years. I thought, “This isn’t going to get it done. I’m going to be doing this until I’m 125 years old before I see the income that I want.” I started focusing on seeing if I could put together the money. I learned a little bit about private money and I was like, “If I can do that, then I could start buying more deals at a time instead of having to wait on my bank to say, ‘You’re approved again,’ and see if I had enough down payments.” That was where the rubber met the road, once I started learning about private money and the power behind that.

KSS 50 | Buying Bulk Properties

Buying Bulk Properties: Buying bulk properties takes a lot of confidence because a lot of times, you don’t know what you are getting at.

 

That led you to buy them in bulk. That goes from a big leap or maybe I’m jumping too far ahead to go from buying one at a time to all of a sudden buying packages of real estate deals from banks. It seems like a huge step. Is that how it happened? You jumped from one of the other once the money was there?

There was a little bit of leeway there because I met my mentor through a Craigslist ad of all things. It was a complete accident. I put it out into the universe what I was looking to do and this industry was brought to me. I never even knew it was a possibility. I never even knew it existed. I was thinking of putting together some money so I could buy three more rentals a year. It wasn’t some big dream of, “I’m going to buy 200 assets in one year.” It wasn’t anything like that, but once the opportunity presented itself and I understood it, I was like, “I’m all in.” Initially, before I got all in, I’m the guy that wants to learn about what I’m going to do first. I don’t just completely jump headfirst firsthand, but I started learning about owner financing. I still had my loan origination license. I started helping a lot of investors that are in this space with their owner financing needs because of Dodd-Frank given the SAFE Act and all that stuff. I started learning about it and I was like, “I could do this. I’m no brain surgeon, but the people I’m doing this for, they’re not brain surgeons either.” It totally means I could do it. Once that realization happened, it was all in and off to the races.

You were doing owner financing to buy properties or to sell or both?

No, I was doing owner financing from the aspect of helping them with their buyers. I was making sure that their loans were compliant and all that. I was working for me. Everything came together. Once I had that part figured out and had the systems in place and I said, “I can organize some private money.” That’s where my partner, John and I, we bought our first package at Seven Fields and then it was perpetuated.

Investing in different states is rather unusual for a more traditional real estate investor as well. How long did it take you to get over that aspect?

It’s tricky for sure. It takes a lot of confidence to be able to do it. It’s not for everybody, that’s for sure. A lot of times, we don’t know what we’re getting. There’s definite risk involved, but when you’re dealing with a large package of properties, there’s nothing you can do about it. We know that from the law of averages, we’re going to win on 80% to 90% of those deals and it’s going to make up for the ones that we might lose on. It’s not for everybody, but it’s an interesting game for sure.

Many people I interview on this, you do hear these resounding themes. “I had a mentor. I had somebody who helped. I got lucky,” as you said through Craigslist or what have you. There seems to be an element of that, but then the momentum seems to take over from there, applying, re-applying and also the educational component. I tell people all the time, I’m in the education business, saying, “You’re going to pay for education one way or another.” I’ve talked with people who’ve done it that way and went through the school of hard knocks, but they’ll tell you in hindsight, that’s the most expensive way to do it. Educating yourself, I like that for taking time off and saying, “I’m going to focus on everything and learn everything I can in the business.” That’s great. Your model has evolved even more. You’re buying in bulk predominantly from banks or service companies, acquiring the properties and liquidating some of those properties. The rest, you turnaround and selling yourself with seller financing to create notes. Is that right?

That’s exactly right. It’s a fun game. We take whatever the market brings us. Our ultimate goal is income. Anybody in this knows and that’s their goal. If the market was to bring us a cash deal, that’s great. That brings us our financing even better. It’s weird. In 2018, it was about a 50/50 split and in 2019, we’ve seen it’s closer to 60/40. It’s been more heavy cash sales than it has been on our financing. It was surprising to me. I thought our business tends to be most active between January and June when it comes to the owner’s financing piece because a lot of people are getting tax money back. They’re applying that towards down payment. We didn’t see as much of that this year, which I thought we might give them the tax law change, but that wasn’t the case.

When you acquire properties, then you market them to investors at large. You put a cash price and then offer to finance as well. Are there two different marketing channels?

Less competitive properties are better for long term investments. Click To Tweet

It’s one and the same. There are certain channels where we will offer on our financing only certain deals, where we’re offering cash only. It depends on the channel. Mostly, nine times out of ten, we’re offering it at the same option that whatever the market wants.

On the notes that you do create, you get some cash buyers and you create some notes. You have a tendency to keep those notes and seize them for a while, sell them or what’s your action plan for that? Is it just each note as an individual?

We’ve kept most of them. We’ve started selling off a couple and we sold off some partials, which was awesome to do. It takes a little time for the seasoning there to be able to do it. People understand that this is the product, this is the structure and all that. We’re getting to that point where we have the option to do those fun things that you can in our business.

You’ve focused also on what we call lower price band, $150,000 homes and less. Is that accurate?

That’s exactly right. Typically our houses on owner finance, we’ve got some decent loan amounts in there. We’ve got some that are worth $75,000, but most of them are $50,000 or below.

What’s your overall feel for the demand for seller financing in the future? Do you think that’s going to continue to be strong in that price range? Do you think financing is going to loosen up where people won’t look so much at that? What are your feelings on that?

As long as the interest rates remain low, it certainly will. The banks look at these deals as if they can’t make money off of them because they’re not seeing the yield that they want out of it. I think the moment is there, but in some way, shape or form, it’s always going to be there because sometimes people can’t go the traditional route. They might be self-employed. Back in 2006 through 2008, anybody can because you had a decent credit score. I say decent, this is tongue-in-cheek if you get 100% with a 580 credit score back then. If you had a 700 credit score or above if you make no income, no documentation, nothing, it’s basically, “Here’s my name and my phone number. Give me a 100% loan.” That’s not going to get that crazy again but the opportunity will always be there for owner financing.

I think so, too. The cash buyers, are you seeing them pay a premium because the cash buyers are coming in? You mentioned that you saw a change in inventory where you had more cash buyers this past year or maybe in the last half of the year at least. I know they’re suffering from a lack of inventory. Is there a rush for them to buy? Are they paying good prices on the cash? I would imagine you wouldn’t sell them for that much but discounted, you could pay for your way out.

Ultimately, our strategy is to make it a win-win. Whether it’s for an investor that’s picking up a deal for cash or for somebody that’s buying it for themselves or for our finance, we want to create long-term relationships. For me, I said this a bunch of times, I’m focused on hitting singles and doubles. If we’re swinging for the fence every single time, it’s not going to work out. I think we’re on the velocity of capital. How quickly can we turn the people that we work with on the private money side? How quickly can we turn their money over and over again? You continue to increase that velocity. You can do that best by trying to hit singles and doubles. If I can put a property on the market and I know it’s less than its competitive properties and it will get eaten up faster, that’s better for us in the long-term. Plus, I’m creating a great viable relationship with an investor that will come back to us because they’re going to win.

KSS 50 | Buying Bulk Properties

Buying Bulk Properties: Millennials don’t want to buy homes because they’ve seen what happened in the past.

 

If they see margin on the deal and they can see your profit, the next time they see one of our deals, they’re going to know they’ve got a great chance of winning on that deal. The same goes for owner financing. We don’t want to put somebody into a situation where it’s only advantageous for us, where they’re not going to have a chance to succeed. We want to make it so the rent is always going to be more expensive than our payment. They’re going to have built-in equity in the property so that they can refinance, which is ideal for us because then we’re getting not 100% of the note. Win-win is our primary focus of business for sure.

I studied the market a lot and there’s been some discussion about Millennials. They don’t want to buy homes because they’ve seen what happens in the past. You see other studies that they actually do, but they’re more cautious about it. I have a tendency to agree with that fact because they have seen the rate of foreclosures that their parents had gone through back in the 2000s. They don’t want to go through the same thing. They do shop more online and they’re much more sensitive to terms. I think they’re more open to creative aspects. Is that what you find as well?

It is, totally. As long as they can see the opportunity there, that’s what it comes down to. One of the awesome things about what we do with the owner financing is we’ve had people that are young. They’ve watched some of our content and they’re turning the properties they bought from us into rentals and coming back and buying another one. That gets exciting and personally, that’s super rewarding for me to see.

I know rent is a sensitive issue and a lot of these kids say, “If we can stay home for a while, we’ll save up money with mom and dad.” Then when they’re ready, they absolutely look at the rent. That’s one of the things I always look at when I’m looking at performing notes that I’m buying or what have you. I’m always looking at what is the rent? What are the motivating reasons for these people to continue to be good payers on our particular note? They’re sensitive to all of those things that you mentioned and you want to build notes the right way. Gradually, the notes have become more of a part of your business. In fact, you’re now a cohost and a partner within NoteWorthy. What drove you to that?

This is what I saw going through educating myself where you go to a seminar. That seminar was geared towards selling you an upsell, whether it be education or some sort of a product. I wanted to change that a little bit because NoteWorthy was one of the cool workshops that I went to where I was a vendor. I was there with my mortgage company to work with investors, but every time that there was a session going on, I would go in and sit in. I’d take these furious notes. I’d be writing everything down and there was value being provided. I love that there were actionable things that I could go home and do that would provide my business with some success. Anything like that, I want to be involved with. If we can be the anti-guru establishment saying, “Come join this mastermind group and it’s going to be $50,000 a year.”

That’s fine. I’m in a mastermind group, which I pay a tremendous amount to be in. For a lot of people that are learning notes or they’re still working a full-time gig, they’ve got some self-directed money that they could do some stuff with. If they could come in and learn how they can qualify and know how they can network and find people that are making notes or buying notes. That’s far more advantageous than saying, “Here comes the next speaker and they have a product to sell you.” That’s the reason I got involved because they’ve focused on delivering value and that’s the thing I want to be a part of.

We sat down for lunch to talk about this because most of my readers know that I’ve cohosted the last couple of NoteWorthy events. I’m going to continue to do that with you. We both came to the same conclusion, as the most well-rounded investors, as you do are the ones who look at real estate and real estate notes. You can’t ignore one side. They’re too well-blended together, especially in this market and moving forward. That’s one of the changes that you are going to bring to NoteWorthy. Can you share some of those ideas? How is that going to change things a little?

One thing is exclusive of another. You can come in and learn about notes, but if you’re a self-directed person and you’ve got money sitting in a 401(k), notes are awesome and they have their advantages, but things like multifamily or short-term rentals or turnkey rentals. We’re going to bring a little bit more flavor to these events to where they can come in and say, “Let me think about the strategy that is most aligned with what I want to achieve later down the road.” It’s not just one dogmatic investing strategy.

We want it to bring in some great experts from these different industries to come in and say, “This is what I do. This is how I do it. Here’s what you can do if you want to get involved in it.” It is very simple like that, but it is opening people’s eyes the same way my eyes were opened to this industry. I had no idea about it. There are many things I still don’t know about real estate investing. I want to learn more about multifamily. I want to learn more about apartment complexes. I thought, “Let’s bring in some different categories to each one of these events and open people’s eyes to the opportunities that are available to them. They can make the choice of the direction that they want to go.”

If you're a self-directed person and you've got money sitting in a 401k, notes are awesome. Click To Tweet

It does. Using your story as an outline for that, I’m sure everybody understands a rental property because somebody’s either been a tenant or a landlord at some point in time in their life. Everybody gets that model. For most people, that’s their default. If I’m investing in real estate, that’s what I’ll do unless you’re a handyman or something like that and enjoys fixing and selling. A lot of people are attracted to that rental model, but they do get stuck where they can only buy at such a slow pace. It does take a long time as you were saying. Why not learn if you can go somewhere and learn somebody who comes from that same background and say, “We started attracting private money?” How do you do that? How do you attract private money? Private money swings you back over onto the paper side. You’re finding people who are willing to lend you money and create a paper behind that, but then you swing back and you’re saying, “We’re now buying properties in bulk and then we sell the property and create papers.”

Everything along there, you want to create the proper paper. It’s a paper of good value should you choose to ever decide it, not that to sell it. Not that you ever have to, but the sales are tacking back and forth. That’s what gives you the most advantage. NoteWorthy is a great platform for that because it hasn’t been note-exclusive for a number of years now. Coming in and changing that direction a little bit and bringing in some of the people that you know within the industry is going to make it a great event. The caliber of people that I saw at the last event was outstanding and it’s going to be a great event, a great change. The word is going to spread pretty quickly.

We’re super excited. You’re spot on. People sometimes are looking for a change. They don’t know what they don’t know. For me, private money was the biggest outlier. I didn’t know that you could go out and do that. That is oftentimes the mindset and what you can try to figure out. If you can come in and model what other people are doing, it’s the shortest route to success possible.

One of the changes too is on the panels. You’ll be able to ask direct questions. You had an idea on how to do a better panel together. Tell us about that. Why are panels important? Why are live events important for people to learn? I’ve always been a big believer in live events. I think there’s a place for online learning, but there’s also an equal place for learning in person. Also, having a panel and the ability to ask questions to the panel, sometimes people hold back on their questions because they think they’re silly and that’s a huge mistake.

We were talking about that. There no such thing as a stupid question. I encourage anybody that comes wanting to ask your questions and it’s a great opportunity because, in the world we live in, in social media, the human connection is somewhat lost. It is not like it used to think. It’s a huge networking opportunity where you can come and be face to face with somebody. You can share a breakfast with them or coffee on a break and generate authentic relationships that aren’t like, “I liked your posts on Instagram or Facebook.” Authentic relationships develop into something. One of the events I went to, I met a great friend of mine who I wouldn’t have known otherwise. I saw them on Facebook, but now we’re personal friends. We’ve met each other’s families and we do things together. That only comes from live events. This the best possible way to interact. With these panels, you’re getting the experts sitting there where you can ask them a question and banter back and forth and learn more about the process that they’re using. I think that’s valuable.

By the way, you can learn more at NoteWorthySummit.com. The next event is going to be in Anaheim, California. That’s coming up in February on the 27th, 28th and 29th. We’re talking about that too. It’s the leap year this year. We’ve got a couple of others that we’re planning on. Is it too early to announce where those are?

I think we can do that. Come in June or July, the summit is going to be in Orlando. Then in the fall, we’re going to the fabulous Sin City, Las Vegas.

We have three in 2020. That’s going to be outstanding and each one is going to have its own flavor. It is going to have a little different twist to it, different people there. It’s not going to be the same old thing every single time. It’s going to be much more dynamic in what we’re doing. I’m excited about that as well. What else can you tell us about your experience? We’ll come back around to that. What do you see in the future? We’re coming towards the end of the year and you’re investing in over 30 different states. What changes do you see? What changes don’t you see in the industry? Where do you think the best niches are going to be?

I’ll give you the classic real estate answer. It depends on what happens in the next election and that depends on the consumer. There are many different things you try to figure out along the way. A lot of times, our focus will change for sure. They’re going through cycles. Notes go through cycles. There will be fewer opportunities to buy or the prices than there to buy are too high to make sense of it. It’s the same with the type of properties that we buy. If a foreclosure was coming, then we know we’ll see new inventory, but it’s going to take time for that to get through the process to get down to us. We have to make adjustments and we know that if we have a recession, then our cash sales are going to go down.

KSS 50 | Buying Bulk Properties

Buying Bulk Properties: There’s a place for online learning, but there’s also an equal place for learning in person.

 

We’re going to have to think about re-capitalization. We’re going to be doing a lot more about our financing and what that’s going to mean to us. One of the hardest lessons I’ve learned in the business, I think everybody learns it every year, is you try to anticipate and you try to have a long vision and see what’s coming down the road. The most successful people in any industry, they’re the ones that do a great job of anticipating and trying not just to react but think about what’s coming to the pipe. You mentioned about Millennials. They are a big generation of renters. We are going to be looking at heavily in the multifamily space. This is a way of diversification. We can’t just depend on one particular thing, which is why I’m passionate about what we’re going to be doing in NoteWorthy teaching these different things.

I come from the financial services world, where they preached ossification and diversification. If that’s the case, I know I want to have different pieces so that if one piece starts to come down a little bit, I’ve got another one to back it up. I don’t have all my eggs in one particular basket. I’m not saying have 25 baskets, max of 2 or 3. You don’t need to have a whole bunch. Warren Buffett is a great example of that. He’s investing in companies, but his companies are diversified. He’s invested in Coca-Cola, in railroads, in real estate. I take a little bit of a bite from that saying, “We can do that and we can do it within the real estate industry.” It’s good to have different pieces of different things and that’s our overall strategy going forward.

That’s pointing back to getting exposed to different things so you’re always prepared. Have your specialties and as long as you’re making money in your specialty, that’s great. Also, be prepared if things change. On some bullet points and I don’t mean to put you on the spot, but the availability of money for real estate, that’s going to go up. What are your thoughts on that? It’s going to be easier to get for investors. What are your thoughts going into 2020?

A lot of the private money people that I’ve spoken with, they feel that they’re at the top of the market. It can’t get any better. If it does, it’s not worth the risk of holding everything in it. They’ve started to shift out. If you believe there’s a recession coming, at some point, it has to. It’s the way it works. Start working on your private money now because it’s going to be the people that have already garnered trust and are showing a return that are going to be able to get access to that money. If you’re a newbie and trying to raise private money in a recession, it’s going to be really tough. Start doing it now because it’s readily available now and I think it’s going to be continued to do so for the next 12 to 24 months. If a recession comes, it’s going to be tough to get.

Property values are pretty much plateaued. They’re going to stay where they are. Even on the lower end, I think they’ve jumped up quite a bit there, which in my mind means prices are going to be steadier. We have to be more creative on how we approach the inventory because that means inventory is going to be a little bit less. Do you see that as well?

That’s one of the reasons why I looked at it into multifamily because I can control a little more the value of the property by the things that I do to it. I can force appreciation. I can raise rents and a lot of different creative things. I can’t do that in a single-family world. I have to hope the house down the street sells for a little bit more and the one down the street doesn’t get foreclosed on so that’s the reason for that diversification thought process.

Going into next year, keep your eye on the cashflow is going to be one of the critical criteria because what can’t happen to investors when property values start to steady off like this. Money is readily available, but if you’re paying too much and something happens, now you’re in trouble. The focus has to be going into 2020 on buying right. That means you still have to maintain the discipline. I know you have a disciplined approach to this as I do, but you can’t overpay for things moving forward.

I wish I knew you in 2007 so you could have told me that.

I lost a lot of money too and anybody who was full-time in real estate back then got caught. I don’t want to go through that again. That’s why I started studying the market again. I got away from all that. When you look back on those years, the signs were there, but it happened so quick and so deep that anybody who was full-time in real estate got hurt. It was a matter of what degree. Since then, I’ve got to be more cautious about going in and I’ve got to keep buying. That’s one of the reasons I continue to put blogs in the industry. It helps people who are my readers and people who are in my consulting programs and coaching programs. I do a lot of it for myself as well. Going into next year, having some new ways to approach real estate, understand that you still have to buy it at enough of a discount because if the market does pull back and people do lose some jobs, we don’t know if that’s going to happen, but being prepared for the best. Good tips and good thoughts on all of that. Any final thoughts from you, Ben?

Some of the best advice I ever got into this business was two pieces, education and take a massive action behind it. I think where I got stuck for a little bit was being a professional learner. I am always looking for that next silver bullet and this is the thing. Finally, it all clicked when I said, “I’m choosing this one thing. I put my head down and I’m going all-in on it.” Magical things started to happen. If you’re new to the business or you’re thinking about, “I want to buy my first note,” put your head down and do it. Start going out and getting uncomfortable raising money or whatever and great things will happen. Get yourself in a position to learn from people that are at the level that you want to be at. I get into a room sometimes and I realize this isn’t the room for me because I have a friend, Mark Evans. If you’re the smartest guy in that room, you are in the wrong place. You need to get out of it. I’ve forced myself into those positions of being uncomfortable when it’s not great things.

That’s good advice, Ben. We’ll leave it at that. Thanks again, Ben for being on. Everybody, learn more about NoteWorthy and it’s at NoteWorthySummit.com. We’ve got three events planned in 2020. The first one is in February. The sooner you sign up, as always, you get good discounts and everything. Start making plans to get out there to California. If you’re looking for inventory for notes, Paperstac.com as well. Don’t forget the MWMFund.com, where you can invest in the fund and own a percentage of all of the notes that we purchased through that format. You do not have to be an accredited investor. Thanks, everybody and I look forward to putting the other podcast together for you. Don’t forget, please recommend to a friend. If you enjoyed the program, please give me a nice rating. It does help. Have a wonderful and safe holiday.

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About Ben Fredricks

KSS 50 | Buying Bulk PropertiesBen Fredricks is a former financial services leader turned successful real estate investor, that has worked for Fortune 500 companies like Lehman Brothers, New York Life and Allstate. Since leaving the world of Wall Street in 2016, and co-founding Odell Barnes REO, Ben and his team have been able to focus on acquiring real assets in bulk from banks and completed over 400 real estate transactions in 30 states.

Ben and his team focus on a disciplined investment philosophy that is heavily focused on affordable housing while creating ongoing relationships with real estate investors around the country. Ben was recognized at Noteworthy’s Note Investor of The Year in 2018 and will now be the co-host for those events in 2020.

 

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