Finding deals in real estate can be hard and one way to get them is through cold calling! In today’s episode, we’re going to dive into them! Parker Stone is an active investor focused on opportunistic and value-add multi-family assets. He is a member of the Cornell Real Estate Council and a principal at Clear Bay Capital, a private equity real estate firm focused on acquiring distressed and value-add multifamily communities with asymmetric risk-return profiles. Parker worked a corporate job after college and after being laid-off two months into his first job, he searched online for other possible income streams and eventually stumbled upon BiggerPockets. His real estate journey started with single-family syndication and he has ventured into the multi-family space as well.
[00:01] – [03:24] Opening Segment
- Let’s get to know today’s guest, Parker Stone
- Lay-offs and a plan to enter real estate
- Exploring everything for passive income
[03:25] – [21:38] Cold Calling For The First Multi-Family Deal
- In New York and starting with single-family deals
- Shifting to virtual assistants
- You can remove your equity partners in a deal
- The Advantages of Multi-Family
- Parker talks about his end goal in real estate
- Virtual Assistants and Underwriting Deals
- How to Get Deals through Cold Calling
- Parker talks about the pitfalls and surprises he has experienced in his real estate career
[21:39] – [24:42] Final Four Segment
- What Parker would invest in with only $20,000
- House hack
- How Parker would help in a real estate mistake
- Not doing everything by yourself
- Parker’s way to make the world a better place
- Scholarships and community programs
- Reach out to our guest – see links below
- Final words
Resources Mentioned
Tweetable Quotes
“The hardest thing in this market is to find deals.” – Parker Stone
“To get a top-dollar you want to make sure you fix up the big issues with the property.” – Parker Stone
“It’s just as risky to go in alone.” – Parker Stone
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Connect with Parker Stone through pstone@clearbaycapital.com, Instagram, and LinkedIn. Visit his website http://clearbaycapital.com and add more value to your multi-family assets.
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I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.
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Email me → sam@brickeninvestmentgroup.com
