West Side Investors Podcast – AJ Shepard
In this episode of the West Side Investors Podcast, AJ joins the show as he talks about his background and how he started his real estate business. AJ is a licensed real property manager and also a licensed contractor in Oregon. He has been an active member of NARPM (National Association of Residential Property Managers) community so he knows the latest property management industry trends.
How it All Started
[00:30]
When in college, I worked in a construction company doing take offs ultimately going in their industrial division and I really got used to construction and how the process works. I made my way to Portland after that and bought my first house at age 23.
First Few Projects
[2:15]
I had a job in Gold mountain Nevada and it was a 20-million-dollar project so it was pretty cool. The last project we had was in Dubai in a recycle plant. I came in to Real Estate with tons of Construction background experience. Also, it was pretty awesome having the resources and we can use the guys from the other company even on weekend side hustle. Chris and I worked in a first project together and we were able to refinance that property. We almost got our money back and we had this light bulb moment, so we thought of doing it all over again.
Decision to Open up the business
[7:02]
It was a light bulb moment when we were able to complete that value-add project. The first project was pretty monumental. We worked with the first few people that helped us and guide us on financing. Also, our Dad has been extremely helpful and he makes sure that we knew what we were doing. It was when 2010 that we have acquired enough property and we think there was an opportunity to gain some more income.
Significant thing for the Partnership
[10:02]
Probably the advent of getting more employees. It allowed us to free up and do more. We also joined NARPM and it was very influential in helping us grow our property management business.
AJ’s advice to his 25-Year-old self
[11:38]
You should be quick to hire people. Learn how people get to do the work for you. The ability to leverage their time and allow you to have more time to do high level things is what I will probably say to my 25-Year-old self.
First Entrepreneurial Endeavor
[12:20]
During high school, our golf coach let me take over a ski trip and I ended up making like $2,000 and it was probably more than what I earned in an hourly job. It wasn’t that much work and I have more way fun doing that.
Formal and Informal Training
[14:17]
I felt like I’ve got a lot of formal training. I’ve taken up Masters in Engineering Systems Management and also got a degree on Mechanical Engineering in University of Washington. My informal training comes mostly with our dad. We’ve never been good at hearing “No”. We should have the ability to get things done.
The Deal that Got Away
[16:23]
Most recently we had 40 unit project that kind of got sneaked out. Ultimately, we’re working with another broker and we put in an offer for a certain amount and they pretty much bought it for the same amount. It was sold for less than what our offer was.
Key Quotes:
[15:36-16:00] ‘’Whenever someone says No, our immediate question is like if you can’t do that, then how can we do something very similar to it? It is knowing that there is a way to get it done, because someone else had got it done beforehand.
[11:48-12:06] Learn how to get people do the work for you either by partnership or by paying them. The ability to leverage their time and allow you to have more time to do high level things is the best advice I can give to my 25-Year-old self.”
ABOUT THE WESTSIDE INVESTORS NETWORK
The Westside Investors Network, is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.
The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas please visit www.uptownpm.com. If you are interested in investing in multifamily syndication please visit www.uptownsyndication.com.
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CONNECT WITH US
For more information about investing with AJ and Chris:
· Uptown Syndication | https://www.uptownsyndication.com/
· LinkedIn | https://www.linkedin.com/company/71673294/admin/
For information on Portland Property Management:
· Uptown Properties | http://www.uptownpm.com
· Youtube | https://www.youtube.com/channel/UCiUjoeFertF_hlBUw4J2Tbw
Westside Investors Network
· Website | https://www.westsideinvestorsnetwork.com/
· Twitter | https://twitter.com/WIN_pdx
· Instagram | https://www...
