04 Mar How to Buy Properties Penny to the Dollar
Logan Fullmer of Asset Resolution Partners reveals how to buy properties penny to the dollar. Tune in for expert tips on maximizing your real estate investments and uncovering hidden opportunities in the market.
How to Buy Properties Penny to the Dollar | Video Replay
How to Buy Properties Penny to the Dollar
Logan Fullmer | Asset Resolution Partners
Over the last ten years, Logan Fullmer has run a successful real estate business that began with buying foreclosures and flipping single-family homes. During his real estate career, he’s built houses, refurbished commercial buildings, entitled, and subdivided development land, and became a self-taught curative title / distressed acquisition expert while annually participating in several hundred real estate transactions. Today he runs an office of 20 that flips and rents commercial real estate, flips and develops ranch land, and wholesale property, and invests in various non-real estate-related businesses ripe for turnarounds. Logan is forty-two years old, a husband and father of four who lives and offices out of San Antonio, Texas.
As the real estate market shifts in 2024, his company has doubled down on its core competency of both buying curative title project assets at about twenty to fifty cents on the dollar and trading and leasing commercial cashflow property. The distressed acquisition / curative title projects are likely one of the most overlooked and interesting in the business as they are the deals with zero competition because few people understand how to make the work, but they are worth the effort because they cost as little as twenty cents on the dollar. “Making money when you buy” has been the cornerstone of Logan’s investing thesis.
Logan began in 2013 as a solo house flipper and foreclosure buyer netting $250k annually, and after being laid off from the oil and gas business in 2015 he went full-time real estate. From 2015 the business has changed considerably, his current day office includes 20 headcounts, an in-house attorney, and transactions that collectively gross $40M of revenue on $5-8M of EBIDTA. This year EBIDTA will change radically because of two land development deals that should exit as that business line develops.
Logan believes that business lines don’t have to be complicated or overstaffed. They do need to be led and staffed with very high quality and big work ethics. For example, one business line is a purely distressed property acquisition line that employs three people, does sixty annual transactions, and nets $3-4M alone. A second example is a newer land development business line including ownership of just a few partners, a single lead generation role, a single fee-based land developer, and its pipeline has three deals under development that should all exit in 2024 -2025 for $60-70M of revenue and possibly $25-30M of net profit.
April 6, 2024 | Full-day workshop in Dallas Texas on Distressed Property Acquisition. http://bit.ly/lidfw
https://www.facebook.com/logan.b.fullmer
@logan_fullmer
How to Buy Properties Penny to the Dollar
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How to Buy Properties Penny to the Dollar
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