Today I had the pleasure of speaking with the CO-Founder and Marketing Manager of Four Oaks Capital, Brain Briscoe.

Let’s dive into Brian’s misstep story and how to come back from a cut in loan proceeds when you’ve overextended yourself.

[00:01 - 05:25] Opening Segment

• Brian Briscoe gives us his background story from Marine Corp to Multifamily Real Estate
  • Contact Brian through Four Oaks Capital or contact directly at [email protected]
  • Michael Blanck Coaching Program

[05:26 - 11:13] How to Launch 

• Brian talks about the value of mentorship 
• Brian shares how he launched himself into his first deal
  • Don’t buy into the people teaching that you can start with zero down

[11:14 - 31:30] They Cut My Loan Proceeds

• Brian talks about overestimating the proceeds in the loan of his Franny May deal in the Scarborough area
• Brian walks us through how he was able to negotiate back up and fix the situation
  • Changing the GP/LP split
• Brian gives us valuable advice about how to avoid this kind of situation 
  • Underwriting without assumptions

[31:31 - 34:57 ] Closing Segment

• What are your words of wisdom to our listeners?
  • “Sharpen your pencil on everything” and “verify all assumptions”
• How long did it take you to close this deal?
  • “The seller measured everything in business days to about 6 months.”
• Final words from me

Tweetable Quotes:

“Sharpen your pencil on everything...When you’re going through your underwriting or projections make sure there are no assumptions in there.” - Brian Briscoe 

You can connect with Brian onLinkedIn, and Facebook, and definitely check out the Four Oaks Capital website. 

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