#75 Unlocking Profit Potential: Joint Ventures and Partnering in Real Estate

SUMMARY: In this conversation, Trent Ellingford shares his journey from residential real estate to commercial real estate wholesaling. He discusses the challenges and benefits of commercial real estate, the lessons he learned from the market crash, and the importance of making decisions and taking action. Trent also highlights the scalability of commercial real estate and the opportunities available in the current market. In this conversation, Trent Ellingford discusses the benefits of joint ventures and partnering deals in the real estate industry. He emphasizes the importance of focusing on specific asset types, such as RV parks, and explains the potential for profit in these areas. Trent also shares his experience in cherry-picking the best deals and the value of learning from mistakes. He highlights the opportunities available through his deal partnership program and encourages listeners to think bigger and surround themselves with successful individuals. SOCIAL MEDIA: TikTok 👉 https://www.tiktok.com/@cleverinvestor  YouTube 👉 Clever Investor - YouTube  FB 👉 https://www.facebook.com/codysperber/ IG 👉 https://www.instagram.com/cleverinvestor/  Connect With Trent Ellingford: IG 👉https://www.instagram.com/trentellingford/?hl=en YouTube 👉 https://www.youtube.com/channel/UCoz7obstfrtTRJ8p9IvpiVQ 💥HIGHLIGHTS:  Commercial real estate offers higher returns and less competition compared to residential real estate. Transitioning from residential to commercial real estate requires learning a new language and understanding the larger dollar amounts involved. The market crash and personal challenges can be opportunities for growth and learning. Making a decision and taking action are crucial for achieving success in real estate. Commercial real estate wholesaling allows for scalability and the potential for larger profits. The current market presents opportunities in certain asset types, such as multifamily and distressed properties. Joint ventures and partnering deals can be profitable and provide opportunities for learning and growth. Focusing on specific asset types, such as RV parks, can lead to success in the real estate industry. Cherry-picking the best deals and negotiating creative terms, like seller financing, can maximize profits. Learning from mistakes and persisting through challenges are essential for long-term success in real estate. ⏰TIMESTAMPS: 00:00 - Introduction and Background 02:20 - Shift from Residential to Commercial Real Estate 07:04 - Challenges and Benefits of Commercial Real Estate 10:54 - Lessons Learned from Market Crash and Career Transition 25:14 - First Big Commercial Deal 29:03 - Scaling a Commercial Real Estate Business 32:21 - Joint Ventures and Partnering Deals 36:06 - Focus on Specific Asset Types 37:31 - Opportunities in RV Parks 38:01 - Cherry Picking Deals 40:26 - Partnership and Closing a Big Deal 46:29 - Learning from Mistakes 49:52 - Working with Trent 55:27 - The Slow and Fast Pace of Success 58:48 - Consistency and Persistence 01:02:08 - Sharing Expertise and Thinking Bigger Learn more about your ad choices. Visit megaphone.fm/adchoices