We were super excited to have Ben Leybovich as our speaker - not only is he a prolific blogger on BiggerPockets, but he's also the creator of Cash Flow Freedom University at JustAskBenWhy. Ben's done some extraordinary things in real estate including purchasing a 10 unit building worth $373,500 that he purchased for $5,300.
We had a great time at Southside Parlor - we had the whole roof to ourselves until well after 8pm. The weather was beautiful, and we had a lot of interesting real estate conversations and one unexpected conversation about 50 Shades of Grey - don't ask!
On Saturday night, while most of the citizens of Seoul were busy drinking and dancing the night away, I happened to be talking to a 4th year university student, Drummond, from the Ukraine who was visiting Korea as part of his studies abroad.
At 268 members and climbing, I can't be prouder of the meetup that @John Van Uytven, @Benjamin Hauser, and I have been able to grow out here in Seoul, South Korea. Of course, the road hasn't been a smooth "Kim Yuna-esque" glide toward 300 members. Along the way, we've faced a few rocky moments including our founder having to return to the U.S., changing venues from Gangnam to Hongdae (about 45 minutes from each other), and a MERs breakout before one of our events.
Mark Shaffar of Midwest Equity Partner visits the Seoul Real Estate Meetup to talk about performing due diligence while investing from overseas.
Midwest Equity Partner provide turkey rentals and fix and flip deals in the Midwest, primarily in Milwaukee, WI.
Here is the full interview where Mark discusses:
- His 14 years of living and working in China
- How and why he bought his first investment home in the US while living in China
- His $100,000 costly mistake when rehabbing his first property
- The importance of property management
- Why he chose to work for Midwest Equity Partner
- What made him trust Nate Armstrong, Co-CEO of Midwest Equity Partner
Stay tuned until the very end of the interview where Mark gives the Seoul Real Estate Investing Meetup a very special greeting - in Chinese!
The Seoul Real Estate Investing Meetup is a group for anyone who is interested in investing in real estate in Korea or abroad. We meet once a month in Seoul.
At each meetup, we feature experienced investors who are willing to share stories about their investments including how they got started, how their investments are doing, the tools they use to invest, etc.
Our goal as a meetup is to help motivate and encourage each other to continued success by helping each other out! This is not a pitch forum.
Due to the recent MERS outbreak, the image many have of Korea is probably this. But there’s a dedicated group of Meetup members out here who aren’t letting MERS, rain, or the fact it’s Saturday stop them from pursuing their goal of investing in real estate.
This month, we were really fortunate that on Memorial Day weekend, DeRosa Group founder and syndicator, Matt Faircloth agreed to join us for a live question-and-answer session. (Thank you to @Elizabeth Faircloth for helping to set this all up.)
Matt was able to give us so many actionable tips and was a great sport despite the late hour on his end (past midnight) and technical difficulties on our end.
During the question-and-answer session, we asked Matt, what enabled him to persevere in the beginning when he was just starting out and go from being a part-time house hacker to a full time real estate syndicator. This was his response:
During his question-and-answer session at our meetup, Engelo gave a great talk about the importance of trust when it comes to investing. Here's a clip (It also includes a tip on how you can find a deal on a house while you're at Walmart! If you're an Engelo fan, you're definitely gonna want to watch this):
In a few short months, we are proud to say our membership has grown to over 70 members (online) and over 100 Facebook "likes." I'm sure other meetups have more impressive numbers, but considering we originally thought it would be just four or five of us meeting at Holly's Coffee in Itaewon, we've been very pleased to see it take off.
Of course, this meetup was a little different and a little more special, because in addition to featuring great fellow BiggerPockets members as speakers, we had one of the BiggerPockets Grand PooBahs (I wonder if Brandon's ever been described that way before!)