Today’s guest is Alex Olson, a real estate agent based in Kansas City, Missouri. He helps all sorts of buyers, especially those with 1031 exchanges. Alex and his colleague Logan Freeman have taken real estate brokers to the next level, developed a proven system to help their clients to identify cash-flowing deals, develop a trusted team, and ensure that a 1031 exchange is secure.
Let’s dig in to learn more about buyers representation especially in the 1031 exchange, establish credibility to brokers and the market growth in Kansas City,
[00:01 – 07:19] Opening Segment
Let’s welcome Alex Olson to the show.
Alex shares some context of his background and his journey in commercial real estate.
The challenges of agents to step into buyer representation in commercial real estate.
1031 exchange buyers representation.
[07:20 – 14:19] Become a Credible Buyer and Stand out to The Brokers
Alex breaks down how to position ourselves as a credible buyer vs. tire-kicker from the broker standpoint.
A pre-approval letter from the financial institution.
Not pretending to know anything about the market.
Outline your timeline.
Spend more time and attention to get to know the broker.
Why we need to stand out to brokers and establish credibility.
Unique challenges for 1031 buyers.
The limited time frame.
[14:20 – 30:09] The Market Growth in Kansas City
Alex talks about the best part of the Kansas City market.
Job growth in Kansas City.
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The key spots of growth in Kansas City.
The infrastructure development areas.
The major employers behind the growth.
The distinct aspect of investing in Kansas City Market compare to other areas.
[30:10 – 36:10] The Bull’s eye round
Losing his W2 job last year and turning full-time into real estate.
Most Recommended Book:
Am I Being Too Subtle? By Sam Zell
Create a daily calendar to make sure I can complete them and be productive.
Office market as an asset class.
I Wish I Knew When I Was Starting.
I wish I knew about owner-occupied FHA loans on 4plexes.
Best Place to Grab a Bite in the Kansas City
Jack Stack Barbecue.
How to connect with Alex.
See links below
Final words from me
“Having somebody in your market that knows the market and filling out all of the aspects is important .” – Alex Olson.
“Do you know anything about the market, or are you pretending to know anything about the market? ” – Alex Olson.
“As soon as your deal is close and property sold is closed, you need to immediately start to identify properties that are going to be close enough to fix your exchange deadline.” – Alex Olson.
Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A FIVE STAR RATING AND REVIEW, and be sure to hit that subscribe button, so you do not miss an episode.
To enhance your multifamily knowledge and achieve greater success in your business, you can connect with me on LinkedIn.