Jan 11, 2021
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!
๐๐๐ ๐๐๐๐๐๐๐๐๐:
- 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 Letโs 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 Marketโs - 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
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Enjoy the Real Estate Journey!