How to Buy Properties Penny to the Dollar
Disruptors
Steve Trang
5 • 741 Ratings
🗓️ 4 March 2024
⏱️ 85 minutes
🧾️ Download transcript
Summary
Logan Fullmer of Asset Resolution Partners reveals how to buy properties penny to the dollar. Tune in for expert tips on maximizing your real estate investments and uncovering hidden opportunities in the market.
How to Buy Properties Penny to the Dollar | Video Replay
How to Buy Properties Penny to the Dollar
How to Buy Properties Penny to the Dollar
Logan Fullmer | Asset Resolution Partners
Over the last ten years, Logan Fullmer has run a successful real estate business that began with buying foreclosures and flipping single-family homes. During his real estate career, he’s built houses, refurbished commercial buildings, entitled, and subdivided development land, and became a self-taught curative title / distressed acquisition expert while annually participating in several hundred real estate transactions. Today he runs an office of 20 that flips and rents commercial real estate, flips and develops ranch land, and wholesale property, and invests in various non-real estate-related businesses ripe for turnarounds. Logan is forty-two years old, a husband and father of four who lives and offices out of San Antonio, Texas.
As the real estate market shifts in 2024, his company has doubled down on its core competency of both buying curative title project assets at about twenty to fifty cents on the dollar and trading and leasing commercial cashflow property. The distressed acquisition / curative title projects are likely one of the most overlooked and interesting in the business as they are the deals with zero competition because few people understand how to make the work, but they are worth the effort because they cost as little as twenty cents on the dollar. “Making money when you buy” has been the cornerstone of Logan’s investing thesis.
Logan began in 2013 as a solo house flipper and foreclosure buyer netting $250k annually, and after being laid off from the oil and gas business in 2015 he went full-time real estate. From 2015 the business has changed considerably, his current day office includes 20 headcounts, an in-house attorney, and transactions that collectively gross $40M of revenue on $5-8M of EBIDTA. This year EBIDTA will change radically because of two land development deals that should exit as that business line develops.
Logan believes that business lines don’t have to be complicated or overstaffed. They do need to be led and staffed with very high quality and big work ethics. For example, one business line is a purely distressed property acquisition line that employs three people, does sixty annual transactions, and nets $3-4M alone. A second example is a newer land development business line including ownership of just a few partners, a single lead generation role, a single fee-based land developer, and its pipeline has three deals under development that should all exit in 2024 -2025 for $60-70M of revenue and possibly $25-30M of net profit.
April 6, 2024 | Full-day workshop in Dallas Texas on Distressed Property Acquisition.
https://www.arpusa.com
https://www.facebook.com/logan.b.fullmer
@logan_fullmer
How to Buy Properties Penny to the Dollar
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Transcript
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| 0:00.0 | You're capable of a lot more than you think you are. |
| 0:02.0 | If I were to look back 10 years ago and you were to tell me that I was buying $2 million apartment complexes through litigation for a million dollars and all, you know, things like this, I wouldn't have believed it. |
| 0:11.0 | But it just happened to step at a time along the way and one by one it got there. |
| 0:16.0 | And I'm no brighter or harder working than probably half the people that are watching today. |
| 0:21.2 | You can turn your life around in five years. |
| 0:23.2 | There are folks out there that would listen to this right now and say, |
| 0:25.8 | this sounds so complicated. |
| 0:27.1 | I don't even know that I can do that. |
| 0:28.6 | It sounds like it's over my head. |
| 0:29.9 | Where do I start? |
| 0:31.1 | You know what I did when I was in that same exact spot six months ago? |
| 0:36.7 | Hey, everybody. |
| 0:37.3 | Thank you for joining us for today's episode, Real Estate Disruptors. |
| 0:39.3 | Today we have Logan, Fullmer, back and Logan Fullin from San Antonio to talk about how he |
| 0:44.3 | buys properties, pennies on the dollar. Every dream, right, you go to a seminar event, like, |
| 0:50.3 | yeah, we gotta buy pennies on a dollar, but then they just kind of leave you hanging on exactly how to do that. |
| 0:55.9 | Now, I was going through and you were here almost three years ago, right? |
| 1:01.6 | June of 2021. So welcome back. |
| 1:05.6 | Absolutely. |
| 1:06.6 | Now guys, I am on a mission to create 100 millionaires. The information on the show alone is enough to help you become a millionaire in the next |
| 1:11.6 | five to seven years. |
| 1:12.6 | If you'll take consistent action, you will become one. |
... |
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