Ryan Dye talks with commercial real-estate developer Fred Cornforth - founder and CEO of the CDI Group of Companies. In part 2 of his interview, Fred shares his journey on how he built his billion-dollar portfolio. He also breaks down the benefits of starting out as a realtor and becoming a broker to get into the industry.
Listen to Fred talk to Ryan about the different paths young investors could take to start building their portfolio, what aspects they should look out for and the pros and cons of the different avenues.
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Key points: 1:21 CoLab INC. Real Estate Workshop 2:30 How to get started in Real Estate 3:20 Pros of real estate licensing as a starting point 6:52 Getting to know subdivisions 8:30 Making money with Real Estate 11:00 The dangers of independent selling 12:30 What makes a good realtor 15:40 First multi-family development 19:30 Becoming a broker to build up capital and experience 24:24 Blue collar vs. white-collar approach into real estate 27:15 Cash on cash return 31:00 How COVID-19 has affected the market 33:30 Partnerships in Real Estate Development 38:32 Dealing with community leaders in development 41:20 Flipping houses to get started
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