How I Bought Real Estate Which Makes Me $1.7 Million Per Year | Ben Wolff Interview
How I Bought Real Estate Which Makes Me $1.7 Million Per Year | Ben Wolff Interview  
Podcast: Buyers and Builders
Published On: Sun Feb 18 2024
Description: What if you can't code and you're not good at tech?You go and start a business that makes $1.7 million per year.This is what Ben Wolff did with little money and reasonably short period of time.Today, he manages more than $65 million worth of real estate."With our properties, we achieve industry-leading margins of, say, 52-55% NOI."We discuss:— Opening first property— Starting an real estate management company— Secrets of using social media platforms in short stay— Achieving 52-55% NOI margins— How to really own customers— Not relying on booking platforms00:00 - Intro00:40 - Being broke, $30,000 in debt, what next...07:05 - REIT (a public company) acquires the majority of the company11:00 - Revenue and size of the business14:02 - Fundraising with no track record used to be easy20:17 - Luxury hotel stays and 50%+ IRR24:49 - Using social media to achieve industry leading margins30:45 - 100% overship of a customer31:50 – How traditional businesses should use social media to their advantage34:34 - The biggest lesson as an operator - quality!42:05 - The benefits of sharing everything publicly54:30 - Reinvesting all real estate profits in the mediaFollow PrivatEquityGuy on Twitter: ⁠⁠https://Twitter.com/PrivatEquityGuy⁠⁠Join HoldCo Builders weekly newsletter on finding deals, raising capital, and growing small niche manufacturing businesses: ⁠⁠https://privatequityguy.beehiiv.com/subscribe⁠⁠Ben on Twitter: ⁠https://twitter.com/UniqueStaysGuyThis podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.