Episode 36: Deal Sourcing Boils Down to One Word, “Hustle”
Deal sourcing is an on-going challenge faced by everyone in the industry, especially for syndicators competing in the multifamily value-add space. As brokers aggressively pocket more listings, large institutional investors purchase for all-cash and offer a quick close, many non-institutional money-backed new and even experienced operators are finding it increasingly difficult to get off-market properties where the numbers work. Malon Johnson grounds us and reminds us that deals are out there for the taking, but only those that “hustle” and put in the time will reap the rewards. Malon walks us through his grassroots deal sourcing process from the perspective of a wholesaler. He focuses on single-family and small multifamily properties. However, the fundamentals he applies in his business can be used in our syndication business to significantly improve deal flow. The challenge: are you willing to shift your mindset to do what is necessary to be the first in front of off-market deals?
About Malon Johnson:
Malon Johnson is a wholesaler and flipper based in Columbus, OH. To date, he has successfully completed several dozen transactions and shown others the power of perseverance. A college dropout surrounded by poverty and drugs, one book would change the course of his life and lead him down his current path to great success in real estate investing.
Connect with Malon:
Connect on Instagram: MalonpJohnson
Dion Huey is a Co-founder at Delta Bridge Capital LLC which is a multifamily real estate investment company that invests in value-add apartment communities in the United States. He earned a master's degree in finance at Northeastern University in 2017 and worked on multiple business syndications as a financial analyst for Boston-based Plateau Asset Management which is a private equity search fund that has $30 million AUM. In 2017, Dion was an analyst on a deal team that advised Citic Investment Bank's Hong Kong private equity division on the syndication of a $1.5 billion acquisition of a hotel in New York. He is currently the host of The Multifamily Investor Situation Room Podcast.
In 2010 he co-founded Rocky Mountain Education and Technology Group which is a Beijing-based education services company that has serviced more than 5,000 clients. In his spare time, Dion enjoys reading, martial arts, lifting, and learning foreign languages. Contact the author at firstname.lastname@example.org.