Myers Methods Presents Multifamily Missteps

They Cut My Loan Proceeds - Brian Briscoe

August 06, 2020 jerome myers
Myers Methods Presents Multifamily Missteps
They Cut My Loan Proceeds - Brian Briscoe
Chapters
Myers Methods Presents Multifamily Missteps
They Cut My Loan Proceeds - Brian Briscoe
Aug 06, 2020
jerome myers

Today I had the pleasure of speaking with the CO-Founder and Marketing Manager of Four Oaks Capital, Brain Briscoe.

Let’s dive into Brian’s misstep story and how to come back from a cut in loan proceeds when you’ve overextended yourself.


[00:01 - 05:25] Opening Segment

[05:26 - 11:13] How to Launch 

  • Brian talks about the value of mentorship 
  • Brian shares how he launched himself into his first deal
    • Don’t buy into the people teaching that you can start with zero down

[11:14 - 31:30] They Cut My Loan Proceeds

  • Brian talks about overestimating the proceeds in the loan of his Franny May deal in the Scarborough area
  • Brian walks us through how he was able to negotiate back up and fix the situation
    • Changing the GP/LP split
  • Brian gives us valuable advice about how to avoid this kind of situation 
    • Underwriting without assumptions

[31:31 - 34:57 ] Closing Segment

  • What are your words of wisdom to our listeners?
    • “Sharpen your pencil on everything” and “verify all assumptions”
  • How long did it take you to close this deal?
    • “The seller measured everything in business days to about 6 months.”
  • Final words from me


 

Tweetable Quotes:

“Sharpen your pencil on everything...When you’re going through your underwriting or projections make sure there are no assumptions in there.” - Brian Briscoe 

 

 

You can connect with Brian on LinkedIn, and Facebook, and definitely check out the Four Oaks Capital website. 

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show (https://www.facebook.com/groups/157335752156211/)

Show Notes

Today I had the pleasure of speaking with the CO-Founder and Marketing Manager of Four Oaks Capital, Brain Briscoe.

Let’s dive into Brian’s misstep story and how to come back from a cut in loan proceeds when you’ve overextended yourself.


[00:01 - 05:25] Opening Segment

[05:26 - 11:13] How to Launch 

  • Brian talks about the value of mentorship 
  • Brian shares how he launched himself into his first deal
    • Don’t buy into the people teaching that you can start with zero down

[11:14 - 31:30] They Cut My Loan Proceeds

  • Brian talks about overestimating the proceeds in the loan of his Franny May deal in the Scarborough area
  • Brian walks us through how he was able to negotiate back up and fix the situation
    • Changing the GP/LP split
  • Brian gives us valuable advice about how to avoid this kind of situation 
    • Underwriting without assumptions

[31:31 - 34:57 ] Closing Segment

  • What are your words of wisdom to our listeners?
    • “Sharpen your pencil on everything” and “verify all assumptions”
  • How long did it take you to close this deal?
    • “The seller measured everything in business days to about 6 months.”
  • Final words from me


 

Tweetable Quotes:

“Sharpen your pencil on everything...When you’re going through your underwriting or projections make sure there are no assumptions in there.” - Brian Briscoe 

 

 

You can connect with Brian on LinkedIn, and Facebook, and definitely check out the Four Oaks Capital website. 

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show (https://www.facebook.com/groups/157335752156211/)