MB 198: The Calculated Courage to Do Your First Deal – With Craig Schumacher, MAI

<p>Is fear stopping you from doing your first multifamily real estate deal? If you’re not the type of person to simply jump ship from the relative safety (and health insurance) that comes with a W-2 job, but you know you can’t spend the rest of your life on the hamster wheel, then NOW is the time to activate what Craig Schumacher, MAI, calls ‘calculated courage.’</p> <p>Craig Schumacher, MAI is the Managing Member at <a href= "https://www.irvcapitalllc.com/" target="_blank" rel="noopener">IRV Capital LLC</a>, a real estate investment firm that focuses on multifamily and student apartments. Craig spent 25 years working as a commercial appraiser and valuation specialist. Four years ago, he decided to stop helping other people make a fortune in real estate and build a portfolio of his own. Craig closed on his first syndication deal in January, bringing him to a total of 89-units (with another 28 under contract).</p> <p>On this episode of Apartment Building Investing, Craig joins me to explain how he recently quit his job as an appraiser to pursue multifamily investing full time. He describes the AHA moment that inspired him to take action in 2016 and walks us through the key lessons learned from his difficult first deal. Listen in to understand what Craig would tell his younger self about getting started in real estate investing and learn what he is doing now to scale his multifamily portfolio!</p> <h3>Key Takeaways</h3> <p>Craig’s transition from appraising real estate to investing</p> <ul> <li>Biggest hurdle = solving health insurance issue</li> <li>Took time to enact plan but never been happier</li> </ul> <p>What inspired Craig to make a change</p> <ul> <li>Shocking self-assessment at age 45</li> <li>Not in position to put kids through college + retire</li> </ul> <p>How Craig got started with real estate investing</p> <ul> <li>Bought 5 condos + 2 duplexes (university housing)</li> <li>Gain experience as landlord, bank relationships</li> </ul> <p>Craig’s rocky transition to multifamily</p> <ul> <li>Sold university