Wyatt Simon, owner of Full Circle Real Estate, discusses the successes and lessons learned in his journey to building a $20 million real estate portfolio!
Wyatt starts by talking about how a successful BRRRR deal allowed him to gain momentum early on in his investing career. After a homerun deal, he shares lessons learned from a bad deal that involved getting caught doing construction without a permit and going significantly over budget! Wyatt explains the issues that arise from lack of liquidity even for high networth individuals. Throughout the episode, Wyatt drops powerful insights on mentorship, staying disciplined, and starting with the end in mind!
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03:30 Housing Provider Tip - Understand appliance warranties and reconsider extending warranties!
05:09 Intro to our guest, Wyatt Simon!
11:16 Wyatt’s first BRRRR deal.
14:50 A third deal, gone bad!
19:47 How to start direct-to-seller marketing.
28:02 Ins and outs of “subject to” financing deals.
34:07 Navigating liquidity concerns.
37:56 Wyatt’s 5-year outlook!
41:12 What is your competitive advantage?
41:37 One piece of advice for new investors.
42:53 What do you do for fun?
43:10 Good book, podcast, or self development activity that you would recommend?
44:16 Local Network Recommendation?
44:52 How can the listeners learn more about you and provide value to you?
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Wyatt Simon
Guest Company: Full Circle Real Estate
Guest Link: https://www.wyattsimon.com/
Other Links for show notes:
Your First 100 Units (Wyatt's Book)
