RG 135 – From High School Teacher To Real Estate Entrepreneur with Todd Dexheimer
- Todd is the CEO of Venture D Properties
- Todd focusses on multifamily investment
- Todd used to be a high school teacher
Nuts and bolts
Todd is the CEO of Venture D Properties where he does single family and small multifamily apartment filliping. Since he started investing in 2008 he has purchased and renovated over 500 units. He has completed over 150 flips including a 20 unit mobile home park, a ski resort and an apartment complex whilst also building his rental portfolio. He owns 250 units across Minneapolis, Milwaukee, Cincinnati and Kentucky. He focused on syndicating value-add multifamily properties in emerging markets. Todd also has a new podcast called Pillars of Wealth Creation. Todd made his first dollar as a child mowing lawns with a friend and they were so successful they started a small business called Toddio. Todd got into real estate investing in 2008 and he was naïve but this kept him going.
Todd was a high school teacher and he completed his first deal while he was still teaching full time. He completed three deals at once within a month – a flip, a rental and a live-in fix. He bought in a different neighborhood in his city to the one he lived in. People around him told him not to buy in that neighborhood but he resisted the noise and went to see it himself and realized it was good for investment. He advises that it’s always worth seeing with your own eyes rather than listening to the noise, because often people don’t know their own city. Go and visit the places that people say to stay away from, you don’t have to buy here but go and look. When you find an area some of the key indicators of an up and coming neighborhood are art studio and hipster kids.
Now, when Todd looks for new investment markets he has a method which wasn’t always the case. He looks at the whole story of the property; the city, the job market and the neighborhood. He focused exclusively on multifamily syndication now rather than flipping and he is building a vertically integrated business with systems that feed off each other. He’s ramping up the construction side of his business and buying properties at the best time of the market cycle. The best time to buy multifamily is at the bottom of the cycle but the best time to be a contractor is at the top of the cycle, so with his construction business he’ll have both sides covered.
- Most important habit – Time blocking
- Most influential person – His wife
- Most important tool – Syndicator analysis spreadsheet
- Most educational failure – Trusting people and not putting agreements into a contract