Charles Seaman

Charles is the Senior Acquisition Manager and Asset Manager at Three Oaks Management LLC based in Charlotte, North Carolina. In this episode, he shares his experience in buying a property during this pandemic times, as well as a whole lot of practical information about asset management and how to look at rents and evaluating market.

Important Points in This Episode

• Charles talks about his business and where he pre-dominantly operates
• He gives a brief story on why he decided to build his business in the Southeast region
• How do Charles compete in an environment which is up and coming, and when he’s looking for the next deal
• Which areas in the Southeast region does he focus on
• Charles talks how he parlays his broker relationships into underwriting, and how he converts it into a deal
• Impact of the pandemic in his real estate business
• How Charles raise his capital
• Scoring a deal during the pandemic times, what kind of property, the location, and the reason why Charles bought it
• Problems that he encountered in buying a property during the pandemic, and how he was able to resolve it
• Tips for taking over a property and asset management
• Best part about being a real estate investor
• Charles’ ideal partner or client in the real estate business
• Mistakes made and lessons learned
• Charles gives advice on building relationships and platforms to constantly attract investors and how to get better deals

Resources

• How to Win Friends and Influence People by Dale Carnegie
• Contact Charles for a Free Underwriting Class on Zoom every Saturday by texting 347-3063-278
• Charles Seaman LinkedIn
• Charles Seaman Facebook Page
• Email Charles at charles@3oaksmgmt.com

Quotes

• “In order to get the best deals, it helps being open to a few reasons one, I get to know the market better; two, I have the option to get in front of brokers more, and three, I may have resources and connections that can give me deals that I wouldn’t have access to, otherwise.”
• “In particular, if you’re using a third party property manager, in which most are not recommended, unless you have your own property managing company, I would say, if you’re using a third property manager, and this really applies to everything, but the big thing is communication. You want to set an expectation from the beginning that, ‘This is what we expect’.”
• “The best part (about being a real estate investor) is having control of your own destiny.”
• “There’s two problems by not taking a target market: one is that you’re always spending time learning about the market, and that’s time that essentially is wasted, because once you get familiar with the market, the benefit is you don’t have to do that every time. And the second thing is that you’re always the new guy in town.”
• “Most of your best deals are gonna come from relationships. You’ll never have a chance to form those relationships if you’re constantly bouncing from market to market.”
• “We need to build a platform and constantly be working to attract investors.”
• “If you don’t know how to deal with people, you’re probably not gonna make it too far in this business.”