Are you looking to get into investing during the Covid-19 pandemic?
In this episode of Passion for Real Estate Investments, Fuquan talks to Co-Creator of Smart Asset Capital, Brock Mogensen, about navigating the real estate industry as a newer investor during the Covid-19 pandemic. From house hacking his first duplex, to co-founding a successful company, Brock has been able to attain success in a relatively short space of time.
Brock started learning about the real estate industry around 3 years ago, and bought his first duplex a year later. In the 6 months that followed, he made the decision to focus on the syndication aspect of real estate, specifically underwriting. He then found 2 business partners with expertise in other aspects of real estate, and they co-founded Smart Asset Capital. Within 1 year, they’ve closed deals that include an 89-unit apartment building, and office space in a strip mall. Today, Brock gives back through his informative blogs and eBooks, and he runs the largest apartment investors meetup in Wisconsin.
How has the Covid-19 pandemic affected Brock’s business? He emphasized the importance of communication, and we hear his plan for the rest of the year. What has he put in place to protect his business from a future downturn in the market?
If you’re interested to get into investing, even during the Covid-19 pandemic, or you want to learn more about syndication and underwriting, this episode is for you.
Highlights from the interview
- Within the 2 years that Brock has been involved in real estate, he has managed to co-found a company, and build up a sizeable portfolio.
- Surprisingly, their office building and strip mall collections are doing better than their apartment collections, contrary to national data trends.
- Constant communication is vital for pivoting businesses during the current situation.
- Focus on one aspect of the industry, and be good at that one part.
- “Obviously you have to understand the different components of it, but don’t try to be an expert in the whole subject. There are a million different things that go into these big deals; pick one piece of the puzzle.”
About Brock Mogensen
Brock Mogensen has been investing in real estate for about two years. He lives and invests in the Milwaukee, WI market. He holds a masters in Information Systems. Brock works full time in database marketing, while amassing a respectful real estate portfolio through syndication on the side. As a principal at Smart Asset Capital, the firm currently has over $6 Million in assets under management. This portfolio is made up of an 89 unit apartment complex, 20,000 sq ft of retail space, and 18,000 sq ft of office space. He is also a co-host of the largest monthly multifamily meetup in WI, which is the Wisconsin Apartment Investors Meetup.