A fund is probably one of the most powerful and safest ways to diversify your assets, but how do you know when you’re ready to start a fund? And which markets should you invest in? Today’s guest, Dave Seymour, has some experience in this area. After 16 years as a firefighter and paramedic, Dave launched his real estate career, rapidly becoming one of the nation’s top real estate investors. Within his first few years, Dave has transacted millions of dollars of real estate and had become a leading expert in both residential and commercial transactions. Some of Dave’s areas of expertise lie in lending, commercial multifamily, financing, and retirement strategies. In this episode, we’re talking all there is to know about funds: how they work, how to start one, and how to know when you’re ready. Dave shares his experience with his partner, Walter Novicki, and shares some key advice for starting a fund of your own. Tune in today to find out more!

Key Points From This Episode:

  • Dave introduces himself and shares why he got into real estate to change his circumstances.
  • Flipping single-family houses on Flipping Boston while holding commercial real estate.
  • Transitioning from a W-2 into real estate required a change in Dave’s mindset and hard work.
  • Looking for a hand up rather than putting a handout – there has to be reciprocity in business.
  • Dave explains how a fund works and shares a bit about the fund he started with his partner.
  • Why a fund is probably one of the most powerful and safest ways to diversify your assets.
  • What Dave’s day-to-day looks like as a fund manager – he raises money all day, every day.
  • Which markets his fund invests in, and why Dave avoids the big 200+ apartment complexes.
  • The core-plus business model of taking an underperforming asset and turning it, and how Dave does it faster.
  • Why Dave has included a 10% allocation for direct lending in the buy, fix, and flip space.
  • Dave explains that fund two will be a $250 million fund, potentially structured as a Reg-A.
  • When Dave and his team were ready to start a fund and how COVID has created massive opportunities for them.
  • The tools in real estate that Dave can’t do without is his network and his team.
  • Dave’s biggest investment mistake and his main takeaway – educate, don’t speculate.
  • Why Dave needs to convince his wife to sell their primary residence and take the equity out.

Links Mentioned in Today’s Episode:

Dave Seymour on Twitter

Dave Seymour on LinkedIn

Dave Seymour on Facebook

Freedom Venture Investments

The Flipping Formula

APT Capital Group

Passive Income Through Multifamily Real Estate Facebook Group 

Free Call with Kyle or LalitaBullpen