Blake Selby: From Personal Trainer to Private Lender and Real Estate Mogul

What sets Blake Selby apart from others in the real estate industry and what can young entrepreneurs learn from his experiences and success?

Our special guest today is a highly successful real estate entrepreneur who has already achieved a great deal in the industry, despite his young age. Blake Selby has already accomplished a great deal in the industry. He is a multi-talented individual who has a degree in Kinesiology from Michigan State University, where he started personal training as a side job. Blake's journey in the real estate industry began when he purchased a struggling gym in Bettendorf, Iowa, and through hard work and dedication, he was able to turn it around and eventually sell it for a profit. This success allowed Blake to venture into the world of private lending, where he has since acquired over 300 properties and built a significant portfolio of assets, boasting seven figures in net worth. Blake's down-to-earth personality and valuable experience in managing people, which he learned from running the gym, have helped him achieve this level of success in such a short amount of time.

Blake is a down-to-earth person who has a lot of value to offer and attributes his success to his experience in managing people, which he learned from running the gym. He is a private lender in the real estate industry, and he has a lot of knowledge to share about the journey of becoming a private lender and how it is not as structured as other professions, with no industry standard for paperwork. He suggests looking for red flags when searching for a private money lender, such as upfront fees, foreign accents, and lack of reviews or license numbers, and suggests moving on if one feels unsure about the lender.

As a low LTV lender who invests in properties for flipping, he doesn't rely on appraisals for determining the value of a property but instead looks at the purchase prices of the 20 houses immediately surrounding the property and takes into consideration the surrounding area and other intangible factors like the property's slope and layout. Blake only lends for short term, around one year or less, and is able to quickly process loans once terms are agreed upon.

Blake is also in the process of closing a deal that would double his investment capital. He has already prepared for the growth by having a spacious office and is ready to increase his staff overnight. Blake mentions that he likes to take inbound calls and filter out unimportant ones but that he'll need to get better at delegation as he scales. Blake also discusses the challenge of having to ten times the number of properties or loan sizes to fulfill the demand. He also discusses his strategy of splitting his cash into multiple FDIC-insured accounts in different banks to get higher returns and how he prefers keeping money in liquid accounts to make some interest rather than keeping it idle in the bank.

Blake is a successful private lender who has built a strong portfolio and relationships in the industry. He attributes his success to being fair and transparent with his clients, as well as being able to pivot and react to new information. He also mentions that his terms are favorable for short-term borrowers, as he does not charge upfront fees and only receives payment when the borrower sells their property. Blake is highly recommended in his industry and is proud of the relationships he has built, which he considers to be his greatest asset.

In conclusion, Blake Selby is a successful real estate entrepreneur and a private lender who has achieved success early in his career. He believes that surrounding yourself with successful people in the industry is key to success, and he advises new investors to start taking action and immersing themselves in the industry. Blake is admired for his confidence, risk-taking ability, and willingness to learn from failure, and he suggests that eventually, success will come if you keep trying.

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Don’t Forget To Reach Out to Blake Selby
Linkedin: https://www.linkedin.com/in/blakeselby/
IG: https://www.instagram.com/selbyrentals/
Website: https://www.selbyrentals.com/
Twitter: https://twitter.com/selbyrentals

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