Myers Methods Presents Multifamily Missteps

Having the right inspector on-site is crucial. Join Jerome as he shares his journey of acquiring a 20-unit and an 8-unit property from the same owner, both closing on the same day. Discover the critical missteps that could have cost him and his partners dearly. Tune in as he dives into issues with HVAC systems and emphasizes the importance of attention to detail, right down to misplaced commas. You'll appreciate the integrity with which he addresses his errors.Support the Show.

Aiming for a huge target is not at all bad, but the harsh reality should also be considered. In this episode, we feature Matthew Drouin and his story of doing a deal that entails facing problematic neighborhoods and people down on their luck. He talks about his experience of regret looking upon himself as a hero and brings the invaluable lessons he learned from it. [00:00 - 08:51] When the Harsh Truth Slaps, We Go Back to What MattersBack into real estate by accident as a residential agentThe struggles of being poor in an affluent neighborhoodWitnessing his parents die young without time to enjoy life[08:52 - 18:19] From Hero Complex to Midas Syndrome: The Horror StoryWhen there is a level of sketchiness in the neighborhoodFacing the mental stress of pulling off a risky dealRealizing the significance of sticking to your principles[18:20 - 19:16] Closing SegmentUnexpected things can happenFinal words Tweetable Quote:“ The biggest mistake I made on this whole thing was right in the beginning, I got the hero  complex and also the Midas syndrome on this. And I was not doing it based upon logical reasoning in terms of sticking to my guns and all the principles that had made me successful.” - Matthew Drouin Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show https://www.facebook.com/groups/157335752156211/Support the show

Holding your money too tightly to invest for inspection would be a big mistake. Michael Sampson notes that it's important to work with a good real estate broker and have professional inspections done on your properties to make sure they're in good condition. He also advises patience when growing a real estate portfolio, as successes can take time to build. [00:00 - 07:13] Lessons Learned from Multifamily InvestingSpend money upfront for inspectionDo your research and work with a good real estate brokerHave an exit plan in place if things go wrong[07:14 - 10:37] Multifamily Operator Finds Success with New FrameworkBe wary of residents with no presentable referencesMichael shares his tips for getting started in multifamily real estateGet educated and build your network through meet-ups[10:38 - 13:06] Closing SegmentGet the education you needFinal words Tweetable Quote:“ You just have to go out and do it. It can be frightening at first, but once you get into it, it's almost just like a single-family home. It's just a bigger asset. And then you have to spend some money upfront on an inspection. That's the cost of doing business.” - Michael Sampson Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show https://www.facebook.com/groups/157335752156211/Support the show

How much do we know about the property before we make a deal?  In this episode, Tommy Brant addresses the importance of financial due diligence and how knowing the owners is just as essential as knowing the assets. Tommy also shares how taking the lead on the deal helped create value for him and his partners. [00:01 - 17:18] The Deal that Eluded Me Tommy shares how he got his start in real estateForming a team with the broker's contactFinding problems during financial due diligence[17:19 -19:44 ] How to Avoid Mistakes During Financial Due DiligenceUnderstand the previous owners and the propertyEducate yourself about the marketNetwork with like-minded people[18:37 - 20:06] Closing SegmentLook for people to mentor youFinal words Tweetable Quote:“You really need to understand the previous owners. What are the operators like? Did they have a business plan? What did they neglect? Is there a theme that we're seeing in all the units, So whenever people are talking about hard earned money, I wanna know the owners just as much as, I would know, the asset.” - Tommy Brant  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)Support the show

Planning to get the deal requires consideration of a strategic exit too. In this episode, Sam Wilson talks about his investment and exit strategies, avoiding mistakes in the future, and how important it is to make sure that there are out clauses in contracts in order to protect oneself. Listen closely as Sam provides listeners with valuable advice on how to make life count by doing the things that don't always count. [00:01 - 13:36] How to Secure a Contractual Agreement with SellersHave reasons for walking away from a deal, even if it's difficultSam discusses his background in the real estate spaceSlow down and get to know the seller before getting into a contract[13:37 - 18:36] Simple Contracting Tips to Protect Yourself from Multifamily MisstepsHave a written contract that outlines the terms of the dealHave an exit strategy and ensure to understand the seller's motivation to sellContracts should be simple and easy to read, with no hidden fees or penalties[18:37 - 20:06] Closing SegmentMake life countFinal words Tweetable Quotes:“There are unfinanceable deals out there. So, you know, whatever your reasons are, make there's enough in there that's broad enough to get out of the deal… Don't be like me who is afraid to walk away from deals.” - Sam Wilson“That's the thing about mistakes. I think that entrepreneurs, in particular, are willing to fail… And we're going to fail… And when you do that, you just got to be able to learn from that lesson and remember those mistakes.” - Sam Wilson Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show

Is it possible to generate passive income while on active duty? Of course! Listen in as Tim Kelly and Jerome Myers emphasize the importance of education and networking to becoming successful in real estate investing. In this episode, Tim explains how to create a community of like-minded individuals in order to leverage relationships and access opportunities. Tune in as he shares stories of his own successes and failures. This is a signal for you to take the necessary steps to achieve your own goals. [00:01 - 10:23] Creating Financial Freedom on the Way to SuccessThe importance of education and connecting with successful peopleLearning allows for avoiding mistakes and achieving success fasterFinding a community of people who share your goals[10:24 - 22:03] Finding Like-Minded Individuals for Support and AccountabilityHelping veterans transition into civilian life and create freedomUnderstanding unique experiences is key to building relationshipsHow the ADPI fund helps investors in commercial multifamily projects[22:04 - 25:53] Closing SegmentContinue your personal developmentFinal words Tweetable Quotes:“You can learn the mechanics. The more important part is adapting and growing your mindset.” - Tim Kelly “There is no such thing as failure. You either win or you learn and move forward.” - Tim Kelly  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show

Many people can get involved as you start your real estate journey, so how do we make sure that the people we have are worthy of our trust? Verifying information and clear communication are keys. In today's episode, Jerome Myers interviews Dave Seymour, who has a background as a firefighter turned into a real estate investor. Listen as he shares his struggles with the consequences of the downturn in the market.  They discuss how property values can go down, even in good times, and how this affects their decision-making. [00:01 - 04:41] Opening Segment Suffering financial pain and being forced into entrepreneurshipProgressing the business and educating peopleRiding the roller coaster of real estate[04:42 - 19:01] Understand Who Controls the MoneyThe one who controls the money winsThe effects of high inflation and current eventsBeing solid in predictions than someone who is just starting outStaying in the trenches and never giving up[19:02 - 24:04] Be Careful of Whom You TrustThe harsh truth when you are taken advantage ofCreating a flow chart to make it easier for potential investorsAdvice on verifying information before taking any action[24:05 - 25:53] Closing SegmentNever give upFinal words Tweetable Quotes:“He who controls the money wins his race” - Dave Seymour“Never give up, never lay down, never surrender trust, but verify.” - Dave Seymour Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show

Wisdom comes from experience and learning from mistakes. Perhaps for those starting in multifamily investing, being a bit more conservative at first and taking calculated risks is the way. Do not take for granted the relationships you are developing along the way as this may turn out to be more valuable than what you are earning. My guest, Justin Britto, talks about how he became an investor, what mistakes he has made in the past, and how he has learned from them. He also shares advice for aspiring investors.[00:01 - 05:40] Opening Segment Observing a lot of demand coming in from both buyers and rentersHow the economy in Phoenix has been growing rapidlyThe aim to mitigate risk and make money for investors[05:41 - 16:12] Transparency is Always KeyBroker relationships to move quickly and efficiently in the private capital marketIndependently analyzing deals and owning a property management companyGaining trust despite a lack of track record -  transparency is keyTactics to employ for saving money on renovations through system integration[16:13 - 25:44] Addressing the Barriers to Get StartedFear as a limiting factor in the ability to invest in day trading stocksHow relationships can be more valuable than moneyOpt for your own financing if possible for a lower interest rate on a purchaseYou don't need a perfect partner - do the work and put in the effort[25:45 - 27:24] Closing SegmentKeep the fortitude so you won't have to turn backFinal wordsTweetable Quotes:“The important thing in the situation for me is just being transparent with the investors and just letting them know along the way, hey, this is what's going on.” - Justin Britto“Don't wait. You don't need to have the perfect team in place. You don't need to have the perfect partner in place to get started. It's just put in the action, put the footwork in, and do your due diligence research, and you'll figure stuff out along the way.” - Justin BrittoLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show

Do you have an exit strategy? A lot of risks go into your investment if you do have one. In today's episode, my guest, Ben Fraser, discusses the implications of ensuring assets worth more in the future and being able to protect the investment at the same time. Listen closely as he talks about the dangers of over-leveraging in the current market environment and how to avoid getting trapped in a cycle of debt.[00:01 - 05:26] Opening Segment Ben Fraser on the managing real estate turbulenceFiguring out deals that make sense in the current market[05:27 - 17:31] Understand the Cyclical Nature of the EconomyBad capital structures and deals cause huge lossWhy taking out the finance to sell during a recession is a bad ideaBen's thoughts on the current state of the economy[17:32 - 21:44] Be Aware of the Capital StructuresThe need to be mindful of inflation when doing dealsHow the current economy is affecting the business of real estateAdjusting the budget arises from economical trends[23:46 - 25:18] Closing SegmentBe careful not to lock in a lossFinal wordsTweetable Quotes:“Inflation - it kind of cures all ills in a lot of senses, but it only cures them if you can hold on to the asset through the challenges.” - Ben Fraser“Watch out for the greater fool strategy, which is ‘I'm just going to do this plan and hope that the next person is willing to pay what I just paid for this and I can manage through it.' ” - Ben FraserLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

When the property turns out to be way too problematic to handle, it is easier to give up on it. So, should we do it? Alex Moore argues otherwise, saying that as long as you have multiple plans in place, it is even harder not to be successful in real estate investing. Also, she leaves a valuable tip for any investor to avoid huge headaches and uncover deeper issues - touring the property at night - and there are good reasons for that.[00:01 - 04:23] Opening Segment Alex Moore on being a nurse practitioner for ten years and doing multifamilyGood lessons from small multifamily investing - knowing the location very well[04:24 - 08:14] Why You Should Opt for a Walkthrough At NightWhy you should go back at night instead of only a day tourWhen there are more unpleasant outdoor activities at nightThe hard lesson of choosing your tenants[08:15 - 11:39] Do Your Research and Get InvolvedGetting more information when you don't know who's payingSelf-management due to smaller marginsApplying the value of reconnaissance to multifamily[11:40 - 15:28] Closing SegmentHaving multiple plans is keyFinal wordsTweetable Quotes:“Go back at night… Nighttime tells you a lot more about what's going on in an area than what's going on while people are either at work, or there are fewer people there.” - Alex Moore“Asking more questions upfront and seeing if you can get more information is also a good thing too, that we learned that hey, are all the tenants paying on time? And if they're not, what's going on right now? What were the circumstances for that tenant? And are we pursuing any legal action at this point?” - Alex Moore“I would encourage everybody who's concerned about all the things that can go wrong in real estate, to still get involved, because honestly, you will make it… You can mess up a lot of ways and still recover as long as you have a plan B and Plan C. So have multiple plans to turn an asset around because that is really the key.” - Alex MooreLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Are you putting your opportunity fund in the right places? Although it is common to think that simply putting your money in the bank account is ideal because it is safe and risk-free, clearly, it is not the way to supercharge your investment. As Rod Zabriskie and Blake Brogan stated, we should consider playing around with the idea of compound interest and get the money working for us. Listen as they discuss the ways to be smart with how you store your opportunity fund.[00:01 - 06:41] Opening Segment Rod Zabriskie and Blake Brogan on the investment optimizer strategyA better way to utilize your opportunity fund - leveraging the dollars[06:42 - 12:40] A Reconsideration of Opportunity Fund StrategyMitigating the risks through insurance policies Taking advantage of the guaranteed growthHow investing in life insurance companies can be safer than the bank[12:41 - 22:03] The Magic Happens with Strategic AllocationWorking with A-rated companies and how they have the upperhandUnderstanding the idea of compound versus simple interestHaving the asset, no loan, acquire the original investment, and repeat[22:04 - 31:10] Get the Money Working for YouWhen banks have lazy money sitting aroundWhy a whole life insurance would be better than termConsidering a source of tax-free income in retirement[31:11 - 36:05] Closing SegmentGet your dollars working more efficientlyFinal wordsTweetable Quotes:“We're utilizing these [insurance] policies as a way to enhance what our dollars are doing in between deals. So then when it comes time to leverage them or utilize the capital, we have the entire balance continuing to earn and grow… then very literally, you can borrow against it or collateralize, or leverage it to go invest in the things that you are already going to invest in anyways.” - Blake Brogan“You, of course, could be building it [life insurance] up for one to three years if you're planning on investing in the future. But this isn't something that's going to restrict any of the active investing that you're going to do.” - Blake Brogan“Sometimes people will say, Okay, well, that's great. I've built all this money in a life insurance policy. And nothing's gonna happen until I die, right? Well, that's not the case. This also becomes a source of tax-free income in retirement for people.” - Rod ZabriskieLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

When it seems like everything is going as planned, suddenly, you went way under budget for the renovation. That was the problem Chris Grenzig had to face in his deal. He shares the importance of surrounding yourself with people who know more than you and why you should always ask more questions and look for potential drawbacks to plan for contingencies. Listen as he shares this huge hurdle that was eventually turned around with a better plan and increasing rental growth.[00:01 - 06:28] Opening Segment Chris Grenzig on getting his feet wet in the business worldHow COVID-19 triggers the shift in focus on the world and business[06:29 - 17:03] A Huge Budget Deficit for Renovations Saved by Rent IncreaseSurrounding yourself with those operating at a higher levelA major underbudget mistake from 13k to 30k per unitPushing from the initial partial renovation to a full-on revampIncreasing rent growth higher than the projection[17:04 - 24:49] Closing SegmentAsk more questions and look for potential pitfallsFinal wordsTweetable Quotes:“If you're starting from scratch on everything, you're basically at everybody else's mercy at that point.” - Jerome Myers“I probably should have brought in more experience earlier on and leaned on them heavier than I did, I think I was probably a little naive… and not really asking the questions of like, ‘Hey, what can go wrong with this plan?' and not really looking at contingencies and backups and potential pitfalls.” - Chris GrenzigLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

We always hear about the importance of due diligence. Well, we can never say it enough as Ayal Joshua shares his real estate experience of a costly fix that shouldn't have happened. He goes over the turn of events and the steps he had to undertake to make the property function without compromise and worked on lowering the cost. He emphasizes the value of going beyond what's required and practicing caveat emptor: “Let the buyer beware.”[00:01 - 03:49] Opening Segment Ayal Joshua on getting into multifamily as an electrical engineerInvesting in your own backyard to see all the bad, the good, and the ugly[03:50 - 12:46] Costly Fixes That Shouldn't Have HappenedWhy you should go granular and do the septic system inspectionA costly mistake that could have been avoided through due diligenceFrom $400 to $60 a month for city water and sewer[12:47 - 15:32] Considerations for Cutting Down CostCutting down costs without the compromiseThe virtue of doing more than is required[15:33 - 19:24] Closing SegmentDo your due diligence and do the inspectionFinal wordsTweetable Quotes: “It all starts when you're purchasing the property. It all starts with your due diligence… The other thing is, you've got some properties that are connected to the city sewer, so they have septic tanks, and many people don't do the septic tank inspection. Sometimes that's critical.” - Ayal Joshua“You have to exercise the letter buyer beware, you know, the caveat emptor. Do your due diligence, do the inspection.” - Ayal JoshuaLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCGo to rentometer.com to get a free 7-day trial and try it out for yourself.Rentometer: your source for local rents, comps, trends, property details, and more.Support the show (https://www.facebook.com/groups/157335752156211/)

You enter a deal and the underwriting reveals that there is too much expense allocation for the property topped with bandaid fixes to solve… What happens then? Williams Edwards shares this noteworthy experience that ended up with reduced expenses, replaced property management team, and even lower tax burden. He also highlights the value of consultancy for better tax benefits. Listen as he shares his story of starting from the ground up and now investing in 5000 units.[00:01 - 04:29] Opening Segment Williams Edwards on the W-2, the software systems, then to real estateWhen multifamily ticks all the boxes as a GP and a KP[04:30 - 12:21] The Dangers of Overlooked Bandaid FixesGoing for a 37-unit instead of a 100-unit…why?The perks of operating with your own moneyWhen the maintenance only go for bandaid fixes without replacement[12:22 - 21:44] Steps to Take for Better PositioningUndertaking the steps to vetting the property managersWhen the underwriting reveals too much expense allocationConsidering loans, interest rates, and tax valuation for better positioning[21:45 - 24:49] Closing SegmentDo your best and follow your heartFinal wordsTweetable Quotes:“A lot of people who come into the space think, ‘Oh, it's gonna work from day one, like it's new, out of the box.' And that's just not the case. ” - Jerome Myers“You don't really know what you got out of the gate, you know? Just do your best job. Follow your heart.” - Williams EdwardsLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCGo to rentometer.com to get a free 7-day trial and try it out for yourself.Rentometer: your source for local rents, comps, trends, property details, and more.Support the show (https://www.facebook.com/groups/157335752156211/)

Dealing with various properties can be such an interesting journey where you'll encounter issues you never thought would occur. For Justin Fraser, it was about environmental issues and because of this experience, the need to have contingency plans as you go through deals becomes all the more essential. When this happens, staying positive and practicing due diligence in the process can make all the difference. [00:01 - 05:24] Considering Exits and Doubling the EquityJustin Fraser on handling 670 units as an asset managerThe reason for the exit of a monster dealSelling properties more than double in four years[05:25 - 12:44] The Various Factors in Determining the Strongest OfferHitting the tipping point - the urge to sellThe factors making the strongest offer versus the highest priceWhat to do when environmental issues arise[12:45 - 17:43] The Value of Contingency Plans Dealing with air quality and safety issues in the propertyPlowing through with diligence in the process[17:44 - 21:47] Closing SegmentStay positive and make many plansFinal wordsTweetable Quotes:“There are a million things, we've never dealt with this before. I've never experienced it, but you learn on the fly. And you know, at the end of the day, we would have to do the right thing. We always try to do the right thing.” - Justin Fraser“Stay positive… It's easy to kind of get down on yourself, but just take a breath, make a plan, and if maybe it's a contingency plan A through Z, but make as many plans as you can.” - Justin FraserLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Cheaper is better, right? Well, when it comes to real estate services, that is usually not the case. In fact, the cost for you can even be higher in the long run. Arie van Gemeren highlighted this as he shares the journey of multiple missteps he encountered in his deals. He discusses the dangers of not being properly capitalized - imagine if a significant amount has to be escrowed by the bank a few days before the deal! Arie also stresses the need to understand code compliance for less stress in property management.[00:01 - 06:00] Opening Segment Arie van Gemeren on launching his investment companyThe real estate landscape on the West Coast[06:01 - 12:02] An Empty Bank Account After a DealMaking mistakes with your own moneyThe importance of capital leftover in the bankStrong relationships with your loan broker[12:03 - 23:26] Do Not Pick Services with the Lowest Cost The danger of the cheapest cost providerHow predictability is more important than the priceWhen a unit is not permitted and legal[23:27 - 24:48] Closing SegmentYou better not go with the cheapest contractorFinal wordsTweetable Quotes:“I'm in the investment business. I know, someday, I'll probably want to manage investor money. But I really need to learn with my own money, make my own mistakes on my own dime before I try to go bring money in from investors.” - Arie van Gemeren“My first piece of advice for anyone is to always make sure you have capital leftover in the bank after you buy a deal.” - Arie van Gemeren“Have a strong relationship with your loan broker, ask, make clear the things you're concerned about, and make sure that banks not going to play games with you. ” - Arie van Gemeren“Exhaust all resources to find out if your units are all legal and conforming before you buy something.” - Arie van GemerenLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Let's talk about tax - that three-letter word is daunting for many people, but when you are guided by a professional, it doesn't have to be too intimidating. It's truly discouraging not to acquire the expected income due to unanticipated deductions, so having a professional leading you can help limit this frustration. Larry Pendleton talks about his mission as a CPA – helping people achieve financial freedom through real estate and taxes. He highlights the need for real estate investors to create their tax strategy to successfully grow investments.[00:01 - 06:06] Opening Segment Larry Pendleton on accountancy and being meticulousGetting started with real estate investingStriking the balance to leverage rentals[06:07 - 13:45] The Disclaimer “Talk to Your Tax Advisor”The misconceptions of incentive systems as LPsKnowledge is not as assurance for smooth applicationLeveraging other deals for potential offsetting[13:46 - 21:02] Crafting a Tax Strategy to Grow InvestmentsWhy TurboTax may not be the best optionConversations to have with your advisorThe audit side of real estate investing[21:03 - 25:39] Closing SegmentHave an advisor to limit frustrationsFinal wordsTweetable Quotes:“Who knows if your tax advisor is fully aware of how the tax law works when it comes to real estate?... It becomes this conundrum… How does it all relate to you? It's when you have to kind of sit down and get the consultation that's needed.” - Larry Pendleton, CPA“You're not going to go to urgent care for heart surgery, and you're not going to go to a dentist if you have a foot problem. So you have to find the right specialist… If you're not getting the value that you're expecting to get, like, those are the upfront conversations that you may be having with whoever is potentially going to be your advisor.” - Larry Pendleton, CPA“My mission in life is to help as many people achieve financial freedom through real estate and taxes.” - Larry Pendleton, CPALearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Real estate investing can be crazy and scary. Things won't always go as planned and Angel Williams' story will get your heart racing knowing the ups and downs their team had to face just to get to the finish line. Sometimes, the members of an LLC had to be restructured and exits can happen for numerous reasons. The important thing is to keep the respect and strive for a clean transition to establish transparency. Angel also reminds us of the benefits of surrounding yourself with experts and the importance of solidifying your documents for a smoother close.[00:01 - 06:12] Opening Segment Angel on closing a deal in a not-so-average method The benefits of good relationships with brokers[06:13 - 17:41] Establishing Respect Through Difficult ConversationsStructuring of teams and dealing with exitsCapital raising and transparency through the switchPositioning oneself in the virtual world through meaningful interaction[17:42 - 23:12] At the End of the Day, It's All About the CloseThe significance of solidifying the lending documentsWhen several versions of the closing documents appearGetting across the finish line[23:13 - 25:39] Closing SegmentThings don't always go as planned and that's okay Final wordsTweetable Quotes:“Teams change, and that's okay… You don't just want one or two people to be thought of as the people that are bringing in all the capital.” - Angel Williams“Transparency is the name of the game. If you want to have trust, there is no way around that.” - Jerome Myers“It's kind of like tennis, you play somebody who's better than you, you're going to get better. If you surround yourself with experts in the real estate, investing space, you're going to get more knowledgeable and you're going to get better.” - Angel Williams“When it gets tough, it's okay. And things aren't gonna go like you think they're gonna go. And that's actually normal. It's gonna be scary, and it's gonna get crazy.” - Angel WilliamsLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Being a limited partner entails fewer responsibilities. However, what would you do if the GPs disappear when things go wrong? For Marc Weisi, he chose to grab the issues by the horns and save the day. In this episode, he emphasizes the significance of practicing due diligence and putting your head down to do the work to save a good deal. Listen as he shares his experience of going deeper into the ins and outs of managing a deal, the checklist when vetting sponsors, and the sacrifices he had to make to get this done.[00:01 - 04:00] Opening Segment Welcoming today's guest, Marc WeisiMerging syndicators and acquiring his first deal during COVID-19Taking over the property as a limited partner[04:01 - 12:27] When the GPs Disappear When Things Go WrongThe impact of track records when vetting sponsorsTroubles of an unextinguished old mortgageRestructuring the entity for equal equity distribution[12:28 - 23:34] Saving the Day Triggers a Confidence BoostWhat to look for sponsors - records, references, and partnersPutting your head down and getting the work doneWhen the financials do not tell the whole picture[23:35 - 25:56] Closing SegmentMitigating mistakes and working through themFinal wordsTweetable Quotes:“The first and foremost concern is really, who is running that deal? Because you can have the most smoking deal on paper in the world, [but] when it comes down to it, it's about the execution. Do the people that are running the particular deal, you know, have your best interests in mind, and do they have the experience to allow them to achieve what they're saying they can achieve? ” - Marc Weisi“It just comes down to, you know, putting your head down and doing the work when it's required…. Once we [Marc and an LP] figured out that that deal was going sideways, and we kind of turned it around. That gave us a little bit of confidence. And we started to look out, okay, let's do a deal on our own here. And that, you know, obviously, we had a little bit of a learning lesson along the way there.” - Marc WeisiLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Just the view of piles of papers can already be such an eyesore, but Rodney Thompson warns us of the potential repercussions if we don't go through the documentation. Relying on others may be an option, but we have to remember that not everyone has your best interest in their mind and that at the end of the day, everything will be under your name, not theirs.  [00:01 - 06:02] Opening Segment I welcome today's guest, Rodney ThompsonPlanning to be financially ready for retirementChoosing to get up and work on what you can control[06:03 - 16:03] Not Everyone Has Your Best Interest in MindBreaking barriers to entry in the multifamily spaceUnderstanding deals through the underwriting processWhen the reserve account was short for execution[16:04 - 23:30] Understand That It's Under Your Name, Not TheirsDeferred repairs and not having the ideal tenantsInitiating a capital call with the GPs for transparencyThe virtue of reading the documents and staying vigilant[23:31 - 25:55] Closing SegmentGuard your reputation, keep your word, and invest in yourselfFinal wordsTweetable Quotes:“Everybody talks about how 2020 was a train wreck. And I think that when you're presented with a challenge like that, you can make a choice about what you can do… And I didn't want to sit around and wait for something to happen. And so I looked at the whole situation, I said, ‘What can I change? What do I have control over in my life and in my surroundings that I can work on?'.” - Rodney Thompson“The best way to understand the deal is through the underwriting. And if you don't understand the underwriting, then you can't properly talk to your investors. So that's really an ethical part of the whole process.” - Rodney Thompson“When you put together a deal and you present it to investors, of course, you can't promise that everything's going to be rosy, or that the returns are going to be this because you don't know. You know, it's a risk. It's an assumed risk.” - Rodney Thompson“Read all the documentation and analyze… You really need to be vigilant about who you're working with, talk to other people that have done business with them… Get recommendations, get second opinions, and make sure you read the documentation… It's so easy to rely on somebody else or trust somebody else, and you're signing your name to that, they're not signing their name.” - Rodney ThompsonLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Looking at the numbers may seem like a daunting task, but as Beau Beery stressed in today's episode, getting systems in place is essential. How do we make it easier? The answer is simple: technology. Without utilizing these tools, we might pass up some opportunities that could have been the way to success. By crunching the numbers effectively, we gear ourselves towards profitability.[00:01 - 06:01] Opening Segment Get to know today's guest, Beau BeeryData scientist that figured out real estatePerception of reverse or slowing down in the multifamily field[06:02 - 12:44] Crunching the Numbers for Better ProfitabilityA big mistake of those who can buy tweenersCrafting an efficient marketing engine in placeDecreasing expenses for a favorable net operating income[12:45 - 29:00] How Passing Up Opportunities Becomes DetrimentalDiet plan in coming out reputable in the real estate realmProperty appraisers on taxing propertiesThe algorithm as pinpointers or reliable basis[29:01 - 35:55] Closing SegmentTake advantage of technology to scale your operationsFinal wordsTweetable Quotes:“I think data is the most concrete reliable thing that we can go off [to] make good decisions from.” - Beau Beery“They'll [investors] pass on it [a deal]. And it's the stupidest thing you could do because what you're doing is, you're relying on what that broker is telling. And not that the broker is lying, it's that every broker and every seller calculates things differently.” - Beau BeeryLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

We all have our reasons to get into the real estate space. For Nicole Pendergrass, it is achieving time freedom not just for herself, but for her mother. However, like any other business, there would be ebbs and flows we have to face. How frustrating is it to be at a disconnect with the people you think should be working with you? Listen as she breaks down the story of her missteps in the industry to save yourself from the heartache.[00:01 - 06:46] Opening Segment Welcoming today's guest, Nicole PendergrassHow she explored the way to earn money while achieving freedom[06:47 - 13:41] Revise the Roadmap to SuccessWanting parents to step away from their job to have freedomThe significance of exposure to true successThinking outside of the box for a better retirement plan[13:42 - 23:14] The Frustrating and Problematic DisconnectHow you might be overpaying or missing somethingWhen mentors are crucial in the underwriting processObservable changes in the market during COVID-19[23:15 - 26:01] Closing SegmentGet out of analysis paralysis and pull the triggerFinal wordsTweetable Quotes:“I did not know that a normal person could invest in real estate and actually make money and have freedom. And that's the thing I've been chasing all these years is just the freedom, it's not about the money. ” - Nicole Pendergrass“How are you living the life of your dreams when you retire if you follow the footprints that everyone is telling you is like the way to do things?” - Nicole Pendergrass“At least have these other streams of income built up. Because you cannot rely on the government to provide you with the life of your dreams, or the lifestyle that you want to have when you retire.” - Nicole PendergrassLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Establishing solid systems conducive to scaling is the key to have for a successful business. Although it may be inevitable to hit some snags, what's important is how we learn and become better along the way. In today's episode, Ruben Greth tells us about how mindset matters in implementing systems and how taking actions out of integrity rises above everything. Who are you when nobody is looking? The answer to that will reflect how you are in work, family, and life, in general.[00:01 - 05:06] Opening Segment Get to know who Ruben Greth isSelling off all properties as the biggest mistakeGoing through various cycles of different cycles of capital raising[05:07 - 11:06] Who Are You When Nobody's Looking?From thinking to execution through meditative practiceManifesting the life you believe you deserveDoing things out of integrity and from your heart[11:07 - 19:42] On Mindset Shift and Putting in SystemsThe detrimental move of loans described as capitalsThe dangers of not having an LP databaseFrom not owning your own house to being a fund manager[19:43 - 21:14] Closing SegmentMindset matters in implementing systemsFinal wordsTweetable Quotes:“If you can come from a place of gratitude and focus on the things that you would like to attract as if you have already attracted them… This is the way to manifest. ” - Ruben Greth“This whole concept of manifestation becomes reality. And I know that that sounds crazy to a lot of people, but when you prove it to yourself over and over, that these things happen, you start to believe.” - Ruben GrethLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

We take great lengths just to get a great deal done, but perhaps looking into the aspects of the contract can bring us a better advantage throughout the process. Charles Seaman shares how having an extension built into the contract is advantageous although requires consideration of the cost. His story also tells us the importance of establishing good relationships for easier communication and transparency.[00:01 - 04:22] Opening Segment Charles Seaman on early involvement in Multifamily InvestingWhy single family investing did not work out for him[04:23 - 12:46] The Push to Better Positioning in the DealExtension built into the contract for the 11th hourThe advantage of good relationships for transparent negotiationCatching the broker's attention via email[12:47 - 19:13] Being Wise in Handling Cost of Doing BusinessRecognizing the true cost of legal fees and loan applicationsThe significance of due diligence and financial reviewsWhen the seller is not accommodating[19:14 - 20:49] Closing SegmentWhy you should make as many mistakes as you canFinal wordsTweetable Quotes:“So with any contract, one of the things that I would always advise anybody to do, regardless of how fast you believe that you'll be able to close the deal is to make sure you have an extension built into the contract.” - Charles Seaman“So I think part of the problem with our early transactions is that we would wait until we were about halfway through our due diligence period, to submit the loan application and to start our offering backs.” - Charles Seaman“Make as many mistakes as you can… That's how you learn. Don't be afraid to make mistakes. Obviously, if you're using somebody else's money, be smart about it so that way you're not tossing them anyway. But learn from your mistakes. Figure out where you need to adjust course and then keep making new mistakes [so] that we keep growing.” - Charles SeamanLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

On the surface, multifamily seems to just be creating living space for people where rentals are charged, aiming to get profit. However, adding more thought to the process itself by not only constructing a good space for living but dignifying the area makes all the difference. In today's episode, Yusef Alexander talks about the significance of mindfully adding value to real estate projects and being wary of the imbalance - maybe the chase to appreciation is not done right.[00:01 - 04:52] Opening Segment I welcome today's guest, Yusef AlexanderYusef's background and meeting a mentor who introduced real estate[04:53 - 10:30] Updating a Living Space for Dignified LivingScaling operations from single-family to multifamilyMastering the craft of adding value and optimizing assetsWhat it takes to establish dignified living spaces[10:31 - 20:54] Building on the Aesthetic and Losing the Essential ElementPeople always tend to cut corners and the lackluster will be feltThe decision-making process in the joint venture modelThe market conditions and value-added projects[20:55 - 23:06] Closing SegmentInvest in yourself and get into the spaceFinal wordsTweetable Quotes:“One of the things that I have been able to master in my career, not only sourcing deals, negotiating deals, acquiring deals, but also have mastered how to add value.” - Yusef Alexander“Added value to me is optimizing a living space in an updated fashion to provide a dignified living environment.” - Yusef Alexander“[Being] dignified has nothing to do with the dollar value.” - Yusef AlexanderLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

As entrepreneurs, we always look for ways to network. We go to events, send emails, and find out whatever ways to establish connection. However, do we utilize the free resources already available to us? Yonah Weiss tells how we may be overlooking this opportunity. Cyberspace is a tool to build our presence and if we position ourselves professionally, we can build a brand that would invite people to reach out to us instead of us needing to chase them. Capitalize this social landscape, be cognizant in proper online profiling, and network more efficiently.[00:01 - 04:19] Opening Segment Welcoming back Yonah Weiss for the second timeHelping people save money on their income tax through real estate[04:20 - 11:10] Capitalizing the Free Virtual Space for NetworkHow Linkedin can work for you and your businessReasons to be cognizant in online profiling for networkResources you may be wasting in building your personal brand[11:11 - 23:55] How Not to be Socially Awkward on Social MediaWho you are and what you do - the online world vs. real lifeBecoming top of mind through value propositionExperimental rebranding through repurposing talent[23:56 - 25:05] Closing SegmentDo not waste a great tool for networkingFinal wordsTweetable Quotes:“People need to be cognizant of the fact that the internet is a real thing. And your online presence is a very real thing. And if you're going to do business with anyone, even not business…People are going to look you up.” - Yonah Weiss“It's [Linkedin] a free website, that's really what it is. It is a landing page for you, for your brand, [and] for your business.” - Yonah Weiss“Building your online presence is building your personal brand. And your personal brand is your online version of yourself. And you want people to relate to you how you would like to be portrayed.” - Yonah Weiss“Adding value should be the main component, main ingredient to everything you're doing online.” - Yonah Weiss“Maybe a question is always a really good thing to put in a post. Because it invokes engagement, you want to start to build an audience and build a community. And the way you do that is by having dialogue and putting thoughtful questions out there.” - Yonah WeissLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

It's natural to be a little bit too excited for a deal. Sure, one may know the ins and outs of managing deals, but actually being in the works, we might be overlooking the process. When this happens, conflicts and heartbreaks may strike. However, in today's episode, Darryl Murphy Sr tells us that these setbacks should not discourage you. As he shares his story of his first deal and the turn of events, we can learn from the dangers of not vetting our partners, jumping the gun, and bouncing around for deals. Hear how, despite all these, he managed to use these experiences as ways to pivot and get excited about the next deals.[00:01 - 03:00] Opening Segment Welcoming Darryl Murphy Sr to the showNot vetting on investors and jumping the gun[03:01 - 11:15] Practice Due Diligence but Stick to the ProcessThe switch to syndication that triggered suspicionRecognizing the significance of sticking to the processComing up with the offer without the financials[11:16 - 18:09] Don't Be Discouraged and Learn from SetbacksConsulting the lender to perceive debt positioningBouncing around looking for a dealSetback as another step to the right direction[18:10 - 20:09] Closing SegmentFind the right partners in the gameFinal wordsTweetable Quotes:“We all know there's a process and we should follow the process and stick to the process. In that way, you don't make mistakes.” - Darryl Murphy Sr“I did not vet properly to choose, just see about these investors, like who have dealt with them before? Have they done this before? Stuff like that. And I failed to do that. So because of that, I still went through the due diligence.” - Darryl Murphy Sr“You have to settle down, pick one to two markets, focus on and build a relationship, and then a deal will come.” - Darryl Murphy Sr“I was everywhere man, I was. I was in North Dakota, South Dakota, New Mexico... I was in Texas, New Jersey when you name a state, and I was there looking for a deal. Until my mentor told me to say, ‘As long as you keep bouncing around like this, you're never going to get a deal.'.” - Darryl Murphy Sr“Let me tell you, it [setback] did not discourage me. It got me pumped, it got me excited, because now I knew that it could be done for real. I may not have closed on it, I learned a lot from it. And yes, I lost money, too. But I was so excited that it just drove me more and more and more.” - Darryl Murphy SrLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

What makes the real estate industry attractive is how you can attain a huge cash flow passively. However, is that the truth or is there something more? In today's episode, Axel Ragnarsson discloses his story and reminds us of the due diligence to establish when assessing deals, the ramifications of not working with key persons in transactions, and the dangers of complacency and how it can put you in a tough spot.[00:01 - 04:49] Opening Segment Get to know today's guest, Axel RagnarssonHe shares his podcasting and real estate journeyMissing out on the best deal because of his job[04:50 - 13:31] Pulling the Lever on Equity, Not Just CashflowThe danger of not understanding the construction side of the businessCost basis approach: Why this is importantMore than cashflow and passive income[13:32 - 22:45] Complacency Puts You in a Tough SpotAxel shares the challenges in his first few deals on refinancingThe financial ramifications of not having a brokerGood deals no longer growing from trees[22:46 - 24:20] Closing SegmentCheck out Axel's podcast and reach out to him!Final wordsTweetable Quotes:“You learn a ton of stuff as you grow. Right? I think we all obviously do. And there's so many things you'll learn. ” - Axel Ragnarsson“Real estate's a game where we all get into it for cash flow and passive income. And I think that's what entices a lot of people to or brings a lot of people to real estate, but you really make money by growing the equity and growing the value of a property or, you know, buying something below market taking your cash out buying something else.” - Axel Ragnarsson“I think that we're at this point in the business where good deals, they're not just growing on trees, right? It's not like it's easy to go out there and, and get a good deal. So you really got to maximize what you have, like in front of you.” - Axel Ragnarsson Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Occupancy drops, economic downfall, and debt policies are the uncontrollable aspects of real estate investing yet one thing's for certain: People will do what it takes to maintain a roof over their head. In today's episode, Darin Batchelder talks about taking advantage of loan origination processes through trading, building more wealth in real estate as compared to the stock market, and dealing with the down economy while facing low occupancy.[00:01 - 04:53] Opening Segment Get to know Darin Batchelder and how he got into real estateHow loan trading works and methods of origination[04:54 - 11:19] Watch Out for Turnovers: Factor in the Occupancy DropFactors contributing to solid multifamily loans despite down economyGetting out of the trap of the corporate ladderDarin shares his duplex story on having 50% of income gone[11:20 - 22:32] Everything Doesn't Always Go in a Straight LineFinding more wealth-building opportunities through real estate investingShifting to a better approach of establishing relationship with brokersOccupancies in the lens of the buyers and sellers[22:33 - 26:38] Closing SegmentJoining a mentorship group builds your confidence and credibilityFinal wordsTweetable Quotes:“Even in a down economy, people are paying their rent, because you know, if they're going to cut anything out, they're going to cut out entertainment, they're going to cut out, but they need a roof over their head. So multifamily loans have performed very well in both good economies, and also, you know, in downturns.” - Darin Batchelder“Everybody looks at single family and duplexes through a lens of perfection…. If I had the single family or I have this duplex, or both units are rented all year long, here's my total income here, all my expenses, here's my positive cash flow. But most people don't factor in occupancy. And then, you know, other expenses related to that.” - Darin Batchelder“Compared to, you know, investing in the stock market, my experience is that there's so much more wealth building opportunity in real estate, because of leverage, because of the tax efficiency.” - Darin BatchelderLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

As simple as it seems, being honest is truly key in establishing credibility and promoting healthy relationships in all aspects. Yet this idea is still overlooked with the fear of discomfort. Amy Sylvis tells us her real estate journey from taking a decade to finally break into the industry, facing devastating missteps, and suddenly having to deal with a wheelchair bound resident. This talk resonates with the concept of showing up with integrity despite the circumstances.[00:01 - 03:46] Opening Segment Amy Sylvis's story - a decade to breaking into the industryThe truth behind real estate industry - things don't always go as planned[03:47 - 07:59] Establishing Credibility Despite SetbackPros and cons of investing in scatter sitesThe virtue of honesty towards the seller and the brokerThe impact of switching horses too late in the race[08:00 - 19:09] The Core of Relationships: Values and HonestyEstablishing and maintaining rapport despite barriersAcknowledging discomfort in forwarding honestyNot all landlords display moral and ethical outlook[19:10 - 20:38] Closing SegmentWe can only play the cards we are dealt withFinal wordsTweetable Quotes:“It [real estate] is a hairy industry. There are definitely missteps. There are definitely things that don't go as planned.” - Amy Sylvis“It's too exhausting to be anything other than honest, it takes too much time.” - Amy SylvisLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Closing deals and finally starting your multifamily journey are milestones worthy of celebration especially when at the initial stages, but that does not mean that everyone in your side is practicing due diligence and just consideration with their roles and limitations. Dr. Erin Hudson reveals her story and reminds us of the dangers of entitlement confusion and not recognizing the red flags early on. Despite these, also witness how she moved forward from this expensive and crippling mistake that helped catapult her to success in the industry.[00:01 - 03:40] Opening Segment Get to know today's bubbly guest, Dr. Erin HudsonHow she started out in private practice and going into real estate monopoly[03:41 - 06:48] Getting to the Finish Line for a Confidence BoostIt's not about the deal count or the number of unitsStarting small is strategic and it may work for youBringing in partnership and capital as results show[06:49 - 22:21] Salt on the Wound Multifamily MishapConfusion on entitlement of the investors on commissionsAcquisition fee as the saving grace and the start of fearMultifamily investment is not a poor man's gameRecognizing the red flags looking back[22:22 - 25:12] Closing SegmentBe consistent with your morning routineFinal wordsTweetable Quotes:“Just like the multifamily space, it's really about doing right for people and not being manipulative, and truly helping them as if they were your brother or sister.” - Dr. Erin Hudson“So people laugh like, oh my gosh, why did you start so small? No, it was a matter of getting strategic and it worked for us.” - Dr. Erin Hudson“If you always have your eye on the prize, which is to take care of your people and water that relationship and do good by people and do right kind of business, you will have a trough of investors and you will forever have a successful business because people will know exactly who you are and what you stand for.” - Dr. Erin HudsonLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Many people think that the safest and the best way to keep their money is using conventional financial instruments everyone is familiar with, however, in today's episode, Damion Lupo argues otherwise. Just because it looks safe and convenient does not mean it's suitable or beneficial for you. In fact, maybe Wall Street is already preparing your rabbit hole of overwhelming tax. Keep your ears open and watch out for the call to action you might implement in handling your money more wisely.[00:01 - 04:30] Opening Segment I welcome today's guest, Damion LupoHis story on financial mishaps and starting over[04:31 - 11:37] The Caveat to Better-Known Financial InstrumentsRefrain from the bondage of money and being enslaved by ignoranceWhy 401k is great for victimsComparing real estate investing, eQRP, 401(k), and IRA[11:38 - 20:43] Overcoming the Primal Fear to ShiftWhy it's difficult to start the shiftUtilizing the right tools for better benefitDiscovering ins and outs of well-known investments[20:44 - 23:40] Closing SegmentIgnorance has detrimental consequencesFinal wordsTweetable Quotes:“It's one of three times that I've lost all my money...every one of those was about ego and ignorance. You combine the two of those things, and it's really dangerous, especially when you start making money.” - Damion Lupo “I think today, money is modern day slavery. I think people are trapped in the cage, and they don't know what to do about it.” - Damion Lupo “There's momentum, what we've always done is what we tend to continue doing because it's easier than when you start shifting. And there's a lot of energy, and there's the unknown.” - Damion Lupo Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Facing unsuccessful deals and going through lots of issues dealing with losses along the way inexorably brings doubts not only to yourself, but also to the partners. In reality, these scenarios are part of the cycle of a business and it is just the matter of how you position yourself despite these challenges. In today's episode, Mauricio Roque reveals his stories of missteps especially in his first deals with both controllable and uncontrollable factors, how he managed to pivot and rise through it all, the legalities and the implications of practicing due diligence, and the tactical steps to take you might consider for your next RPA.[00:01 - 04:05] Opening Segment I welcome today's guest, Mauricio RoqueFrom selling residential real estate then to owning massive multifamily properties[04:06 - 13:03] The Caveat to Letting Fear Take OverMauricio shares his first unsuccessful multifamily dealThe disadvantage of letting fear run the courseRepercussions in changing your mind during negotiationRecognizing unreliability of brokers[13:04 - 19:56] The Recipe for Success in Real Estate PartnershipsThe fear of losing partners and potential investorsDisplaying openness in communicationNot giving up despite of tough challengesPracticing due diligence and tweaking the RPA[19:57 - 21:10] Closing SegmentPersist and get to the finish lineFinal wordsTweetable Quotes:“When I started looking at multifamily, all I heard was these perfect stories. And when I started doing all the work myself, then I started hitting walls.” - Mauricio Roque“You see all these people closing deals and I'm not closing anything. But what happened was people actually started approaching a little more and they appreciated the fact that I was putting their interest… and that they saw or they felt that I was taking care of their hard earned money. I think they appreciated it and they stuck with me.” - Mauricio RoqueLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Attracting partners willing to invest in deals with you is always an issue in the real estate industry. There are so many different tactics being forwarded and various principles to apply. In today's episode, Vinki Loomba reveals how exactly she does this by showing her authentic self. From this approach, she shares the strategy of positioning yourself in a place of fulfillment, offering opportunities instead of going after a chase, and the rationale behind coming in on the beginning of a raise.[00:01 - 04:43] Opening Segment I welcome today's guest, Vinki LoombaHow she shifted from IT, retail sales, to real estate[04:44 - 10:00] Living Your Purpose through Real EstateFilling the heart's void and finding purposeGoing from merger and acquisitions to multifamilyVinki talks about the gaps we should avoid[10:01 - 17:18] Create Your Own Path and Live Your Own LifeWhy coming in on the beginning of a raise is much beneficialEstablish yourself in a place of fulfillment rather than chaseDon't live the life of somebody else[17:19 - 19:40] Closing SegmentBe your authentic self. Don't try to be someone else.Final wordsTweetable Quotes:“Nothing is perfect in this world. But again, it's up to you what you make out of the situation, because every challenge is an opportunity.” - Vinki Loomba“I would say experience is the main thing. And the more experience you have, the better you are.” - Vinki LoombaLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

There are aspects in real estate investing that people overlook and that involve the inclusion of insurance, assignment of benefits, and other easily missed potential additional revenue streams. With the many controllable and uncontrollable factors influencing the industry, especially these crucial times, it is beneficial to utilize risk assessment yet, as Johnny Lynum points out, we must also take action. [00:01 - 05:14] Opening Segment I welcome today's guest, Johnny LynumHow his entrepreneurship heart led him to real estate[05:15 - 12:37] How to Utilize the Characteristics of InsuranceJohnny talks about his misstep and his solutionThe potential risk of not employing cost control approachAim for clarity - Communication is key[12:38 - 20:57] Risk Diversification in Light of Implementing StrategyWhat financial companies to consider in line with real estate servicesFeasible steps in generating additional income Where the true opportunity is in managing properties[20:58 - 24:11] Closing SegmentWhy we should not overanalyzeFinal wordsTweetable Quotes:“When you go through adversity, it sets you up for success. It's always an opportunity when you're going through some type of adversity.” - Johnny Lynum“We got to make our dreams real and you got to take action and make it happen. Because right now, nobody's gonna give it to you. You got to go out there, take action, and take what it is that you're looking for and make it happen.” - Johnny LynumLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

The initial thought of people whenever a new property is acquired is a celebratory greeting. Although this sounds proper, John Casmon begs to disagree especially when it comes to market positioning. Also, in this episode, he talks about more tips in attracting high net worth individuals, experiencing imposter syndrome, and shifting our focus to giving value. So, why did John Casmon have this thought? Let's listen to his story.[00:01 - 05:13] Opening Segment I welcome today's guest, John CasmonSentiments on his email about the reality of the real estate businessTaking advantage of marketing opportunities[05:14 - 15:12] Finding Your Unique Position to HelpAttracting high net worth individualsUnderstand the investor's challenges to filter your networkTackling imposter syndrome with a shift in focus[15:13 - 23:39] Why Celebratory Messages in Platforms is a No-NoMedium matters - it boils down to marketing positioningAiming to give value and having people think deeper[23:40 - 26:26] Closing SegmentFigure out what's holding you backFinal wordsTweetable Quotes:“Whenever you have an opportunity to engage your audience, your network, you want to take advantage of that.” - John Casmon“It's not necessarily that you go to them and say, ‘Hey, come invest with me,' but you want to leverage those relationships to start building out your network.” - John CasmonLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

It goes without saying that in the real estate business, we must know how to work with people all the while determining who to work with. Trusting one company to do the works may seem to be the safest way to go, however, Cary Love points out that we must consider the possibility of inconsistent quality of services rendered, the dangers of sob stories of contractors just to flesh in more cash, and how the contact person may vanish, leaving you hanging. In this episode, Cary talks about the horror story of working with irresponsible contractors, the lessons he learned, and how he overcame these mistakes.[00:01 - 04:49] Opening Segment I welcome today's guest, Cary LoveHow he got into the real estate business to retire at 44[04:50 - 12:07] The Dangers of not Being Hands-On EnoughWhen things aren't going as smoothly as they seemIssues on working with irresponsible contractorsThe contact person may vanish or the quality may diminish[12:08 - 22:17] Steps to Finding Consistent ContractorsRecognizing the changing parameters in contractor workGiving chances for smaller companies to do the jobAllow time for healing  from mistakes to build a solid foundation[22:18 - 24:48] Closing SegmentCreativity solves problemsFinal wordsConnect with Cary via Linkedin: https://www.linkedin.com/in/caryjlove/Tweetable Quotes:“This has always been my fear and multifamily. When you're doing a deal, if you don't have a proven team, right, if you think you're just gonna go out and grab a contract off the street to do the turns on your property that's got bridge financing on it, I think you're setting yourself up for failure just because you don't know if that company is going to perform at the level that you need them to perform.” - Jerome Myers“If you make a mistake, because you will make a mistake, you can look at your financial information and look at it and say, ‘Hey, in three years, what does this look like?'...'What will it look like in five years?” - Cary Love“You know, one of the things is that time has a way of healing mistakes.” - Cary LoveLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

While the potential for growth in the real estate business is staggering. Once you are in it and witness how much you can scale, it can be tempting to keep going. That's definitely possible, however, in today's episode, Mike Morawski reveals his story and reminds us of the dangers of not trimming loose ends in implementing business strategies. Hear how he managed the drastic uphills and downhills of the industry from its early parts and how those impacted his life all throughout.[00:01 - 05:01] Opening SegmentI welcome today's guest, Mike MorawskiHow he sold his business and stumbled upon real estate[05:02 - 12:16] The Significance of Information Disclosure to InvestorsThe sudden shift in the market and the 2008 bubbleMike shares his struggles as a multi-business ownerFrom being convicted for wire fraud to becoming a commendable real estate coach[12:17 - 29:47] The Repercussions of Scaling Too QuicklyThe intentions may be good, but it's important to check on the mannerHow Mike figured out the real estate systems at the early stagesThe contributory factors to realize in building confidence before scaling up[29:48 - 27:56] Closing SegmentHow to position yourself towards proper execution Final wordsTweetable Quotes:“I had a guy walk up to me and said, ‘Hey, don't let these people beat you. All they want to do is take everything from you. And they can take your real estate, they can take your cars, they can take your business, they can destroy your family, but what they can't take is what you're made up of.' ” - Mike Morawski “[The investors] may panic, but be willing to just say, hey, we're in business. Business doesn't always go as planned. Here's what happened. We want you to be a part of the solution. I think that's something that I think more of us can do.” - Jerome MyersLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Reassuring ourselves of a good deal is not as simple as determining the potential future value appraisal. It comes with consideration of varying aspects and the market cycle is one of them. David Lindahl discusses the importance of recognizing the patterns of the market and using such observations to elevate our decision-making process in property acquisition. Just as how the flow of trends goes, there exists a method to effectively evaluate deals further.[00:01 - 05:24] Opening Segment I welcome today's guest, David LindahlHow he moved from small to big property acquisitions in the emerging markets[05:25 - 11:50] Understanding the Full Cycles of the MarketThe ultimate advantage of grasping the market transitionsWhere people go wrong in assessing the market cycleDavid shares his experience as an author and the pursuit of making his parents proud[11:51 - 29:24] Revamping Deal Selections and Finding PartnersDavid shares his first deals and finding his first investorThe heavy influence of market cycles in household formationThe dangers of disorderly inventory and lack of risk assessment[29:25 - 35:14] Closing SegmentHave the right mindset and overcoming your limiting beliefsFinal wordsTweetable Quotes:“Now, if you understand the full cycle of the markets, the four phases, the transitions, and what strategies to be using during each phase, which is explained in the book, then you can sit in your own backyard and make money in each particular phase with the right strategies. The key is recognizing the transitions. That's where people usually go wrong.”  - David Lindahl“This first deal is gonna be the hardest, you know, but if you get through the obstacles and get through your limiting beliefs and get it done, oh, it's like the sky opens up, the sun shines down, you love life gets better, and your face clears up. It's just a beautiful thing.” - David LindahlLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)

Let's get into it to get a deep dive into some of the harsh truths of real estate and how to overcome them.[00:01 – 06:02] Opening SegmentJerome talks about his background.Three things that you want to do before you quit your job to get in real estateTo get more of that check listLink below[06:02 – 20:20] Education in Real EstateWhat Jerome went through with the banksThe importance of educationWhat should people be looking for to find the right educatorsThe importance of getting to know the person that you want learn fromFiguring out your why as a studentThe lack of diversity in real estate investing[20:20 – 32:17] Incomplete SolutionsJerome talks about incomplete solutions.How having the mindset is important but not sufficient to succeed.The importance of networks.Jerome's talks about the context of his podcast, his conference and his course and coaching services.Contact JeromeLink below.[32:17 – 37:49] Bullseye RoundApparent Failure:Not being able to get his first deal done.Digital Resource:CalendlyMost Recommended Book:Sizing People UpDaily Habit:RunningCurious About:Interest ratesI Wish I Knew When I Was Starting:Getting educatedBest Place to Grab a Bite in Greensboro - North CarolinaScrambleContact Jerome:His podcast, details about his conference, his coaching and courses can be found at: jeromemyers.comTweetable Quotes:“The banks don't invest in dreams. They invest in proven business plans with experienced operators.” - Jerome Myers“When you are unconsciously incompetent, your are in that space of ‘I don't know what I don't know.'” - Jerome MyersThank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode Support the show (https://www.facebook.com/groups/157335752156211/)

The realms of real estate can be appealing especially in the aspect of monetary gain. In reality, there is more to it than that - it is not simply about acquiring low and selling at a high price. To experience more rewards, we must be willing to do the hard work and give value to our product. In this talk, Josh Cantwell stresses the importance of not relying on the “MVP”, recognizing that money is king, and breaking down the dangers of merely getting a deal done. And all the while acknowledging the goal of the hustle - financial freedom - and ultimately, satisfaction in life.[00:01 - 03:52] Opening Segment I welcome today's guest, Josh CantwellHow he got into real estate[03:53 - 14:51] Realities of Attaining Financial FreedomThe meaning of financial freedom and its challenges for entrepreneursJosh talks about his deals and the threat of COVID-19The considerations in building a solid business model[14:52 - 28:48] Dangers of Rushing the DealThe real MVP in real estate investingWhat tenants truly care aboutWhy being on time yet going over budget is better [28:49 - 34:45] Closing SegmentThe truth about business - money is kingFinal wordsTweetable Quotes:“And the big challenge for every entrepreneur in today's market is to sit and think about what they're really trying to do, and realize that yesterday is gone. .” - Josh Cantwell“ You do the hard work. That's where the MVPs are at… Why is somebody gonna pay you more rent, if you're not giving them a better product? Simple as that.” - Josh Cantwell“I was passionate about what I was doing. I was loving it. So if I literally had my number calling, I was off the face of the earth that year, I would have been okay with that. Because I was doing what I love. I was having fun with it.”  - Josh CantwellLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)

Many people will tell you to trust your gut whenever you're making a key decision in your life. In the real estate business, however, it pays to not follow your gut all the time, especially in hiring. What you should do always is doing your due diligence to ensure that you're doing the right thing. In the case of Anthony Scandariato, he learned to not trust his gut when hiring and instead prioritize background checks to hire the right guy. [00:01 - 04:25] Opening Segment I welcome today's guest, Anthony ScandariatoHe talks about the services their company offers [04:26 - 15:03] Hiring the Wrong Guy The truth about multifamily investing you should knowWhat Anthony learned from hiring the wrong guy Why background checks are required in hiring [15:04 - 20:08] Why Market Research is Important Should you have a bookkeeper in-house?Here's Anthony's experience The importance of market research in real estate Anthony gives a sneak peek on how they look at deals [20:09- 24:59] Closing SegmentDon't miss Anthony's words of wisdom!This is applicable for beginners and expertsFind Anthony at the links belowFinal wordsTweetable Quotes:“Don't be afraid, regardless of whether you're a beginner, intermediate [or] advanced, keep building out your team.” - Anthony Scandariato“It's really the property management from multifamily that's really the key to success, in my opinion, in this business.” - Anthony ScandariatoResources mentionedBrian LeonardIndeedYou can connect with Anthony by emailing a.scandariato@redknightproperties.com or get in touch with him on LinkedIn, Instagram, and Twitter. Visit Red Knight Properties to grow your income and wealth from investing passively in real estate! You can also check them out on Facebook, Twitter, Instagram, and YouTube.Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

It's hard to get your target audience to engage in your social media content since there is a lot of “competition” for their attention. Brian Pownall learned that the key for them to engage with you is to be a relatable content creator, which you can only achieve if you're getting yourself out there. Share your journey, both the ups and downs. Discuss the lessons you've learned along the way. Be transparent. Show them how unique you are. The next thing you'll realize is that people are starting to engage in your content, making it easier for you to engage them in your business.[00:01 - 03:32] Opening Segment I welcome today's guest, Brian PownallHow he got interested in multifamily syndication [03:33 - 13:36] Promoting Real Estate in Social MediaWhich should you try first, joint venture or syndication?How to leverage your socials for your real estate businessEngage people by documenting your journey [13:37 - 24:27] How to Invest and WhereHow to learn real estate in the best and quickest way possiblePartner strategically to make your investing a success Here's howThe market where you should start investing [24:28 - 27:29] Closing SegmentWhy you should always be in your peak performance conditionFind Brian at the links belowFinal wordsTweetable Quotes:“The person who can articulate the problem the best is the de facto expert.” - Jerome Myers“When you start talking about that pain that you're trying to solve, when you talk about the problems, and your journey to get to a solution, that's gonna resonate with the other people who are in the same boat.” - Jerome MyersResources mentionedGary VaynerchukYou can connect with Brian by emailing brian@newdayinv.com or get in touch with him on LinkedIn. Check out Silverado Oil & Gas, LLC to start investing in large-scale, liquid-rich resources! Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Brett Morgan discovered that investing in the oil & gas industry has some similarities to investing in real estate. Still, there were a few things he needed to learn to invest in multifamily properties the right way. What prompted him to seek guidance was his experience with losing a property near his home just because he didn't know where to start. Now, he's equipped with the 4 things every investor needs to invest in real estate. [00:01 - 04:09] Opening Segment I welcome today's guest, Brett MorganBrett talks about his journey to the real estate industry   [04:10 - 13:40] 4 Things Every Investor Need Why you need to acquire knowledge in real estateAside from knowledge, what do investors need? Learn more about our “4 Fs” process to invest in real estate [13:41 - 23:52] Your Very First DealWhich to invest in first, small or big properties?What new investors should realize about real estateWhat do we mean by “exposure to the content?”[23:53 - 29:48] Abundance Mindset Brett talks about studying money and financeWhat you should understand about economies of scaleSharing your knowledge is normal in real estate [29:49 - 31:10] Closing SegmentFind Brett at the links belowFinal wordsTweetable Quotes:“You have to be getting out of just having one or two streams of income. You should have multiple streams of income.” - Brett Morgan“Harness other people's knowledge so you don't have to be a master of everything.” - Brett MorganResources mentionedBook: Becoming Your Own BankerYou can connect with Brett by emailing bmorgan75@hotmail.com.   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Raising money is a different skillset from operating a real estate deal. This is why there are real estate investors who opt to bring in partners to fund their deals instead of raising the capital themselves. Marcus Phillips learned what should be prepared when raising money, alongside certain practical tips to scale their business via the commercial real estate route. We have an interesting conversation, a highlight of which is the importance of going through the process. Indeed, there's no substitute for experience when it comes to being great at what you want to do. [00:01 - 03:24] Opening Segment I welcome today's guest, Marcus PhillipsHe shares his journey to real estate investing[03:25 - 13:42] Raising Capital in the Commercial Real Estate Best practices in raising capital Why you need 10x as many people who know, like, and trust you Which is more focused on the business, commercial or residential?Marcus shares his takeaway [13:43 - 22:06] There's No Substitute for Experience Marcus talks about certain objections you might also have! The power of doing a follow up in real estate investingMarcus shares his experience Find out if you can apply your engineering background to real estate[22:07 - 23:37] Closing SegmentFind Marcus at the links belowFinal wordsTweetable Quotes:“[Commercial real estate] is more business-focused. It's more, marketing and sales are more important than in the residential side.” - Marcus Phillips“There is no substitute for actually having experience as an operator of a development company.” - Jerome Myers Resource mentionedAlvin Hope JohnsonYou can connect with Marcus by emailing marcus@noirinvest.com or get in touch with him on LinkedIn. Check out Noir Capital to learn more about their work. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Before things get better, they get from bad to worse. This was what Randy Langenderfer experienced with a property a few years ago. First, he discovered that the property manager had been committing fraudulent acts. Then, he needed to deal with flood and fire incidents to the property, not to mention the outbreak of COVID-19. The good thing was that he did not change course and eventually found the light at the end of the tunnel. Patience is a virtue, and Randy proved that this is a piece of advice that actually works. [00:01 - 03:41] Opening Segment I welcome today's guest, Randy LangenderferRandy talks about his path to multifamily investing [03:42 - 14:23] Dealing with Fraud, Flood, Fire, and a Pandemic The truth about syndication that people should know Randy breaks down a bridge loanHow Randy discovered fraud in his property How it turned from bad to worse [14:24 - 23:14] The Lessons that Randy Learned Why you should not apply for a CMBS loanChoose the members of your sponsorship team wiselyThe power of communicating regularly with investors[23:15 - 26:12] Closing SegmentDon't miss these words of wisdom from Randy! Find Randy at the links belowFinal wordsTweetable Quotes:“Don't ever do a CMBS [Commercial Mortgage-backed Security] loan.” - Randy Langenderfer“Communicate with your investors.” - Randy LangenderferResources MentionedRod KhleifEmail randy.langenderfer@invest-ark.com to reach out to Randy or connect with him on LinkedIn and Facebook. Do you want to invest in multifamily real estate in Texas and Arizona?  Check out InvestArk Properties now!  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Growing your personal brand and business involves showing yourself up to your target market. One major platform where you can be present is social media. This is why many entrepreneurs, investors, and business owners are out there creating content regularly, exposing not just their business but also their personal lives to some extent. However, people have been so exposed to such content that they can already tell if something is authentic or not. Authenticity is something that Bobby Jones is trying to build right now. He has learned that talking about yourself does not necessarily mean being selfish or egoistic. It's actually a way for people to truly know him and in turn be attracted to work with him. [00:01 - 06:15] Opening Segment I welcome today's guest, Bobby JonesHis first impression about real estate investing [06:16 - 13:17] Creating Alternative Sources of Income The reasons Bobby transitioned from employee to real estate investorBobby shares his thoughts about the healthcare industry Produce alternative sources of income with this advice from Bobby[13:18 - 23:55] Authenticity in Social Media Creating content in social media the right way How often should you post on your socials? People will unsubscribe to your content and it's okayHere's why [23:56 - 27:55] Closing SegmentWhy you should unlearn some of the things you currently know Find Bobby at the links belowFinal wordsTweetable Quotes:“It's so fascinating to learn about what other people are doing to supplement their own income.” - Bobby Jones “Finding a different way requires you to think about life differently. You have to un-program or de-program a lot of the things that were programmed into you.” - Jerome MyersResources MentionedMichael BlankYou can connect with Bobby by emailing bobby@oncallinvestments.com or get in touch with him on LinkedIn and Facebook. Check out On Call Capital, LLC to learn more about their work. Are you a CRNA looking for success outside your career? Listen to The Plan B CRNA Podcast now!Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Attracting people to invest with you may look difficult since you are persuading strangers to share their hard-earned money with you. That is not necessarily the case in real estate. You can actually attract people with the right mindset and right reasons coupled with enough knowledge and perseverance. If you specifically know how to manage risks, that will be a big bonus too. Joseph Pinkney has learned these lessons for his real estate investing and is now primed for long-term success in this industry. [00:01 - 02:39] Opening Segment I welcome today's guest, Joseph Pinkney[02:40 - 12:14] Generating Cash Flow Today Creating cash flow today from multifamily Why multifamily over single familyThe benefits of having higher debt[12:15 - 21:57] Working with a W2 and Investing in Real EstateHow debts can generate cash flows Here's why you should be aggressive with your savings Higher salary means more happinessThe road to financial freedom [21:58 - 25:36] Closing SegmentDealing with people with love and compassionFind Joseph at the links belowFinal wordsTweetable Quotes:“The only way that you get financial freedom is through ownership.” - Jerome Myers“You mitigate risk through knowledge.” - Jerome MyersResources mentionedRobert KiyosakiGrant CardoneDave Ramsey You can connect with Joseph by emailing j.pinkney33@gmail.com or get in touch with him on LinkedIn. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Building your brand, whether you're in real estate or another platform, requires you to identify who you want to serve and in turn determine how your service or skill addresses their problems. This is what Oliver Perry has learned so far in the multifamily real estate space. If the avatar is well defined, then the solutions will be clear. If there is clarity in the solutions he offers, then he'll slowly be able to build a brand that's unique to him. [00:01 - 03:22] Opening Segment I welcome today's guest, Oliver Perry [03:23 - 11:28] Multifamily is a Math Problem Handling direct-to-seller conversationsWho should be your target market? Mastering the underwriting process[11:29 - 20:35] Building a Multifamily Brand Building your brand as a real estate investorThe question to ask to start building your brand The 2 reasons people take action, real estate or not[20:36 - 26:26] Closing SegmentThe importance of sales copy in your real estate investingFind Oliver at the links belowFinal wordsTweetable Quotes:“Every decision that you make should be with your avatar in mind.” - Jerome Myers“How do we actually create traffic? One is letters, two is phone calls, three is text messages, and four is networking.” - Jerome Myers“What problem do you solve and how can you actually help people by solving that problem?” - Jerome Myers“There is some selling in everything that you write.” - Jerome Myers“The numbers just tell the story of the property.” - Jerome MyersYou can connect with Oliver by emailing info@theoliverperryshow.com or get in touch with him on LinkedIn, Facebook, YouTube, and Instagram. Check out The Oliver Perry Show and learn how to grow your money through real estate! Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Investors would not co-sign a loan for their little cousin, so there's no reason they will for a stranger they barely know. Chalmette Ray has learned this lesson, alongside other important facts on syndications and joint ventures and limited and general partners. She has also realized that investments and businesses are two different things and that one is advised to be done before the other due to some practical reasons. [00:01 - 07:35] Opening Segment I welcome today's guest, Chalmette RayChalmette talks about her inspiring journey to real estate [07:36 - 17:12] Syndication vs. Joint Venture Why syndication is more popular than joint venture (JV)The role of limited partners in syndications and JVsShould you be an active operator or a passive investor?[17:13 - 27:47] Business or InvestmentThe advice you need to hear about building a business or an investment Let's talk about risk in real estate Facts about vertically integrated firms you need to know now [27:48 - 35:07] Voting Rights in a Loan Signing a loan with--or without--voting rightsHere's an interesting thought about convenience in real estate investing[35:08 - 36:31] Closing SegmentFind Chalmette at the links belowFinal wordsTweetable Quotes:“The difficulty in being in a joint venture is the same as it is with being a general partner.” - Jerome Myers“Business owners are able to grow and create equity, you have the leverage, you know how to pull them. And in that operation, you take that equity created, and then you drop that down into the investment.” - Jerome MyersResources MentionedKeller WilliamsRobert KiyosakiBook: Rich Dad's CASHFLOW QuadrantYou can connect with Chalmette by emailing chalmetteray@outlook.com or get in touch with her on LinkedIn, Facebook, and Twitter. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)

Ego is a common obstacle that keeps people from succeeding in their personal endeavors. The same is the case in the real estate industry. If you are not willing to take the time and effort and only looking for a shortcut, you might feel that the industry has failed you, when in fact, you've failed yourself. Julie Holly believes that investing in real estate should be purpose-driven and not solely motivated by money. [00:01 - 03:41] Opening Segment I welcome today's guest, Julie Holly [03:42 - 11:41] Wrestling With Your Ego How to manage your ego while investing in real estate The cold hard facts of real estate investing Should you be a sophisticated investor? [11:42 - 22:06] Being Disciplined in Real Estate The frustrating part of investing in real estateThe importance of discipline, real estate or not Investing in one market onlyShould you do this? [22:07 - 32:07] Purpose-Driven Investing How to put yourself in a better position as a property owner Real estate that is driven not only by money Are you planning to invest in more than one market? Here's Jerome's advice for you [32:08 - 39:04] Making Money in Real Estate Julie breaks down her approach in looking for properties outside her marketWhat you should know about crimes in neighborhoods  The 2 things to make money in real estate, regardless of the market [39:05 - 40:10] Closing SegmentFind Julie at the links belowFinal wordsTweetable Quotes:“If you don't know what you're investing in...you end up with a lot of work on your hands.” - Julie Holly“You have to have the discipline and take the time.” - Julie HollyEmail julie@threekeysinvestments.com to get in touch with Julie or connect with her on LinkedIn. Visit Three Keys Investment to strategically grow your wealth without working harder. Listen to her on her podcast, Ask Me How I Know: Multifamily & MindsetLearn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkBLearn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCCSupport the show (https://www.facebook.com/groups/157335752156211/)