John Casmon is a former marketing exec, who created campaigns for Fortune 500 companies, like General Motors and Coors, before turning to multifamily investing. He’s now the founder of Casmon Capital, the host of Target Market Insights, and has partnered with investors on over 900 multifamily units worth over $90M.
John realized, after the company he was working for filed for bankruptcy, that the only one he could rely on to provide financial security was himself.
Be sure to check out the upcoming Midwest Real Estate Networking Summit, July 25-26th, co-created by John himself!
What You’ll Learn In Today’s Episode:
- John worked for one of the largest companies in the world and believed he had found financial security, until they filed for bankruptcy in 2008. John realized that the only one he could rely on to provide financial security was himself. Severing the ties with corporate America was scary, but John one of many who have proven that you can make it work.
- Scaling your investing and turn it into a business requires working with others. Whether it’s partnering, finding teammates, hiring employees, or using 3rd party vendors, your investment business requires the skill of collaborating with, and managing, others.
- When you invest in a multifamily property, you’re buying a business. You need to learn how to read a profit & loss statement, understand cash flow, and manage expenses. And it’s worth pointing out that, in my 20 years of investing I’ve learned broker setups usually are conveniently missing expense items. So don’t accept them as fact. Do your own financial due diligence.
- Always be looking for opportunities. Be diligent, patient, and picky, but keep your eyes open in any market, because opportunities are always out there. Because there are a number of ‘mom and pop’ sellers, this can lead to operational opportunities to increase the value.
Ideas Worth Sharing:
“ I went through and evaluated all 77 Chicago neighborhoods, and there was only one neighborhood, out of 77, that did not lose any value from 2008 to 2011. I saw that stat and said, ‘I don’t need to know anything else.’” – John Casmon
“If you really want to scale, really want to make this a business, you have to work with other people.” – John Casmon
“There’s different things you can do to drive value other than increasing rents.” – John Casmon
Resources In Today’s Episode:
Books Mentioned In Today’s Podcast
- Atomic Habits by James Clear
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