The beautiful thing about achieving financial freedom is that it gives you the means to give back. Of all the investors I know, the majority who quit their jobs with multifamily go on to pursue a greater purpose, using real estate as a vehicle to make other’s lives better.
Reed Goossens is a real estate entrepreneur and Managing Partner of Wildhorn Capital. He moved to the New York from his native Australia in 2012, and since then, Reed has grown a portfolio of 1,100 multifamily units. He has been involved with $500M-worth of large-scale commercial construction and development projects in Australia, the UK and the US. Reed is also the host of the Investing in the US podcast and author of Investing in the US: The Ultimate Guide to US Real Estate.
Today, Reed joins me to discuss how his life is different now that he’s financially free and why he’s using the platform he created through real estate to raise cancer awareness. He also weighs in on the difference between productivity and activity, offering insight around the best use of your time as a syndicator and the value in firing yourself from repetitive or administrative tasks. Listen in to understand how Reed’s definition of success has changed to focus on his evolution as an entrepreneur and learn the #1 factor that helped him build a substantial multifamily portfolio!
Key Takeaways
Reed’s mom’s inspiring advice
- We’re not here to muck around
- Live life without regrets
Reed’s journey to financial freedom
- Pulling hair out in cubicle
- One-way ticket to NYC in 2012
- Required hard work + hustle
Reed’s insight on productivity vs. activity
- Being busy ≠effective work
- Define black, blue and red zone
The best use of your time as a syndicator
- Find partner with complementary skill set
- Build systems and expand business
Reed’s first hires as a multifamily investor
- Underwriting interns to analyze deals
- VAs for bookkeeping and admin tasks
The activities that Reed categorizes as ‘black time’
- Thought leadership (e.g.: speaking, masterminds)
- Get in front of investors as face of business
How Reed’s definition of success has changed over the years
- Commit to doing things well without goal in mind
- Focus on evolution as entrepreneur
Reed’s mission now that he’s achieved financial freedom
- Inspired by UN Global Goals
- Use platform to create awareness re: cancer
The #1 factor in building Reed’s 1,100-unit portfolio
- ‘Fool and their money easily parted’
- Always continue to learn
Reed’s advice for building a successful brand
- Lean in to what makes you different
- Credible reputation = recession-proof
How Reed is building a multifamily business ecosystem
- Bulk order supplies for renovations
- Bring construction management in-house
Connect with Reed
Investing in the US: The Ultimate Guide to US Real Estate by Reed Goossens
Resources
Reed on Apartment Building Investing EP033
Podcast Show Notes
