Wholesaling is anything but a widely understood aspect of the real estate business. Joining us today to break it down is multifamily investor and former airline pilot, Satch Bernhardt. Satch’s airline shut down during the pandemic, but fortunately, his livelihood was secure as his real estate company, Bernhardt Capital, was already in full swing. In this episode, we learn about the fragility of the airline pilot career and Satch’s mission to provide his peers with financial freedom. Satch fills us in on the viability of wholesaling in a cooling market and what he includes in his contracts to evade risk. Tune in to hear Satch’s insights and real estate-related philosophies, as well as advice for first-time capital raisers seeking an operator, and vice-versa!
Key Points From This Episode:
- Introducing multifamily investor and former pilot, Satch Bernhardt.
- Satch’s path to becoming a pilot.
- What led him to start his real estate company, Bernhardt Capital.
- The impact of COVID on pilots and Satch’s aim to provide his peers with financial freedom.
- What wholesaling is and how it works.
- The benefits of working an inspection period clause into your contracts.
- Bernhardt Capital’s criteria for single-family wholesaling properties.
- The viability of wholesaling in a cooling market.
- Insight into what Bernhardt Capital offers and where they operate.
- Why Satch chose to target the Sun Belt and why he’s strictly focused on apartments.
- The recession-resistant quality of self-storage.
- What Satch looks for when it comes to underwriting.
- The fragility of airline pilot careers.
- The polarized approach airline pilots generally take to investing.
- Satch’s advice for first-time capital raisers looking to attract a strong operating partner.
- How new operators can attract a strong capital raiser.
Links Mentioned in Today’s Episode:
Passive Income Through Multifamily Real Estate Facebook Group
