Lecture Notes: Interview with Logan Fulmer

Introduction

• Interview with Logan Fulmer
• Notable for completing over 200 transactions annually
• Currently closing $7.5 million in deals this month
• Previous career in the oil field

Background

• Influenced by family: mother was a realtor, father was a CPA
• Started in real estate 10 years ago (around 2012)
• Began with rental houses and property flips
• Found early success but realized the need for more capital and experience

Transition to High Volume Transactions

• Transitioned from oil business earnings to invest in real estate
• Focused on consistent improvements in deal-making and investments
• Started with buying vacant land and foreclosures
• Shifted towards dealing with problematic properties that had ownership issues and title problems

Dealing with Troubled Properties

• Emphasizes finding properties with issues (tax delinquency, title problems)
• Often requires cash purchases due to lending issues with titles
• Progressed to dealing with larger deals, up to $3.2 million
• Common issues: bad tenants, ownership disputes, and financial troubles

Legal Considerations in Real Estate

• Experience with litigation and court involvement
• Strategy involves problem resolution rather than prolonged litigation
• Emphasizes being prepared for negotiations and understanding the legal implications

Building and Managing a Team

• Currently operates with a team of about 15 people
• Focus on strategic planning and capital management
• Importance of financial transparency in maintaining credit lines with local banks

Lead Generation and Deal Flow

• Uses large-scale data sets to source leads, focusing on non-owner occupants, tax delinquent properties
• Employs cold callers to generate warm leads for the acquisitions team
• Processes approximately 100,000 leads monthly, aiming for 10-20 deals monthly

Market Insights and Risk Management

• Observations on market conditions and potential interest rate increases
• Importance of being cautious and maintaining liquidity
• Emphasizes buying properties at deep discounts to mitigate risks

Education and Mentoring

• Offers a detailed course on curative title work
• Covers problem-solving strategies for complex real estate deals
• Advocates for sharing knowledge and educating newer investors

Conclusion

• Stresses the importance of financial discipline and reinvestment
• Encourages preparation for market changes and the need for flexibility
• Shares insights on maintaining resilience and adaptability in real estate investing