Real Estate Nerds 59: Best Deals

Midnight Drives and a Hairy Deal

Devin Elder

Real Estate Investing Expert

Listen to the Podcast Here:

On todays episode of the “Real Estate Nerds” Podcast Scott is joined by Devin Elder, real estate investor and owner of DJE Texas Management Group. Scott asks Devin about his “Best Deal” and Devin does a great job going into a lot of detail about the process of deal making. Devin also shares how he builds better broker relationships and the importance of the “four looks” at a property. Are you driving to prospective properties at midnight? Well you should be. Join us on this weeks episode of REN to learn why.

Midnight Drives and a Hairy Deal

Devin is introduced and talks about his business, DJE Texas Management Group, based out of San Antonio, TX. He gives some background on his involvement in real estate and how he got started.

 

[2:20] Devin starts to break down his “Best Deal” which had some unique elements to it and in his words “had a bit more hair on it”.

[3:40] How Devin found the deal.

[5:18] Scott asks Devin about how to build better broker relationships:

  • Facetime.
  • Convey/Maintain Credibility.
  • Don’t Retreat Deals
  • Prove It

[7:36] Scott asks Devin what attracted him to the property.

[9:40] Devin talks about the four looks you get at a property:
  • The Broker Tour
  • The Mystery Shop
  • The Midnight Drive
  • The Post Purchase

[14:19] Devin goes over how the deal closed.

[16:53] Devin explains how they kept the current tenants with all the changes made including price.

[18:40] Devin recaps the final outcome on the deal.

[21:00]  Scott asks Devin about how he maintains the continuity of his investor relationships while trading assets in and out.

[24:49] Lessons Learned.

 

Connect with Devin:

DJETexas.com

Listener Resources

Thank you for joining us on today’s episode of the Real Estate Nerds Podcast. For even more free educational resources on real estate investing and the law, check out the Royal Legal Solutions blog. You can also reach our host Scott Smith directly, connect with him on LinkedIn, subscribe to the Royal Legal Solutions YouTube channel, or join our investor community on Facebook.

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Hosted by Scott Smith, Lead Attorney and Founder of Royal Legal Solutions

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