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Journey to Multifamily Millions - Fast-Track Your Real Estate Success with Expert Coaching with William Parmer, Ep 105

Fast-Track Your Real Estate Success with Expert Coaching with William Parmer, Ep 105

08/01/24 • 37 min

Journey to Multifamily Millions

Welcome to the Journey to Multifamily Millions podcast, where we discuss money matters with experts!

In this episode, we have the pleasure of speaking with William Parmer, a real estate investor, coach for Master Passive Income, co-host of the Breakthrough Investor Podcast, and successful entrepreneur. William shares his incredible journey from law enforcement to real estate, emphasizing the importance of reinvesting profits, the impact of coaching, and the value of networking.

He delves into his family's role in his success, his experience with various types of properties, and the challenges and rewards of self-management versus hiring property managers. 🏢

The conversation also highlights the importance of aligning with ethical coaches and the benefits of attending real estate conferences to accelerate learning and build valuable connections. Don't miss this insightful episode packed with valuable advice and inspiration! 🌟

Episode Topics

[00:59] Meet our guest, William Parmer
[02:27] Transition to Law Enforcement and Real Estate Education
[10:24] Challenges and Strategies in Property Management
[19:07] The Importance of Surrounding Yourself with the Right People
[22:48] Choosing the Right Coach and Program
[28:43] Balancing Family and Real Estate
[33:41] What is one red flag every investor should look out for?
[34:19] What is a myth about the real estate business?
[36:04] Connecting with William

Notable Quotes

  • "I invest for the cash flow, not necessarily the appreciation. The appreciation is the cherry on top, but I want the cash flow." - William Parmer
  • "Vetting the property managers is one of the big things that we teach our students how to do and what to look out for." - William Parmer
  • "I quickly realized that I had every excuse not to [self-manage], because it is, it's not fun, but you do learn a lot." - Tim Little
  • "Vet that property manager. It's really important, especially for those folks who are just starting out." - Tim Little
  • "My only concern is you don't have enough time. And that seemed to be the crux of everything. It wasn't money. It was time." - William Parmer

👉Connect with William Parmer

👉 Connect with Tim

Subscribe, Rate, and leave a review here 🌟
https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497

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Welcome to the Journey to Multifamily Millions podcast, where we discuss money matters with experts!

In this episode, we have the pleasure of speaking with William Parmer, a real estate investor, coach for Master Passive Income, co-host of the Breakthrough Investor Podcast, and successful entrepreneur. William shares his incredible journey from law enforcement to real estate, emphasizing the importance of reinvesting profits, the impact of coaching, and the value of networking.

He delves into his family's role in his success, his experience with various types of properties, and the challenges and rewards of self-management versus hiring property managers. 🏢

The conversation also highlights the importance of aligning with ethical coaches and the benefits of attending real estate conferences to accelerate learning and build valuable connections. Don't miss this insightful episode packed with valuable advice and inspiration! 🌟

Episode Topics

[00:59] Meet our guest, William Parmer
[02:27] Transition to Law Enforcement and Real Estate Education
[10:24] Challenges and Strategies in Property Management
[19:07] The Importance of Surrounding Yourself with the Right People
[22:48] Choosing the Right Coach and Program
[28:43] Balancing Family and Real Estate
[33:41] What is one red flag every investor should look out for?
[34:19] What is a myth about the real estate business?
[36:04] Connecting with William

Notable Quotes

  • "I invest for the cash flow, not necessarily the appreciation. The appreciation is the cherry on top, but I want the cash flow." - William Parmer
  • "Vetting the property managers is one of the big things that we teach our students how to do and what to look out for." - William Parmer
  • "I quickly realized that I had every excuse not to [self-manage], because it is, it's not fun, but you do learn a lot." - Tim Little
  • "Vet that property manager. It's really important, especially for those folks who are just starting out." - Tim Little
  • "My only concern is you don't have enough time. And that seemed to be the crux of everything. It wasn't money. It was time." - William Parmer

👉Connect with William Parmer

👉 Connect with Tim

Subscribe, Rate, and leave a review here 🌟
https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497

Previous Episode

undefined - Why Good Property Management is Crucial to the Success of Your Investment! with Dan French, Ep 104

Why Good Property Management is Crucial to the Success of Your Investment! with Dan French, Ep 104

Welcome to the Journey to Multifamily Millions podcast, where we discuss money matters with experts!

The guest this episode is Dan French, the managing director of ATX Acquisitions, where he has helped orchestrate deals totaling over $2 billion in assets under management, delivering remarkable returns exceeding $1 billion to investors. Dan also happens to be the CEO of ResProp, a real estate private equity and property management firm, where he has overseen the operation of a staggering 15,000+ apartments and properties..

In this episode, Dan shares his journey from a public servant to a successful real estate investor managing over $2 billion in assets. He discusses the importance of aligning with property owners' business plans, retaining top talent in property management, and the strategic shifts that led his company to transition to third-party property management.

Dan also sheds light on the lessons learned during the 2008 financial crisis and how to navigate the challenges in property management, especially amidst current market conditions.

Episode Topics

[01:17] Meet our guest, Dan French
[02:15] How Did Dan Begin His Journey into Real Estate?
[04:18] What Lessons Did Dan Learn from Navigating the Great Financial Crisis?
[10:34] Why Are Scaling Up and Strategic Investments Crucial?
[14:49] How Can Property Management Insights Transform Your Investments?
[22:34] What Are the Biggest Challenges in Property Management Right Now?
[32:44] What is one red flag every investor should look out for?
[31:17] What is a myth about the real estate business?
[34:02] Connecting with Dan

Notable Quotes

  • "Real estate is one of the only things outside of the stock market that people talk a lot about in terms of generating wealth." - Tim Little
  • "You may complain about the obstacle in your way, but in the end, that's going to be the thing that makes you successful." - Tim Little
  • "Starting with those two to four units, that's where most people get started in real estate." - Tim Little
  • "It was years of working things out with the banks and restructuring things through grit and determination." - Dan French
  • "You have to be attached to a broader mission. It's about serving owners and residents." - Dan French
  • "Building a very strong culture is the best way to retain them. People need to feel like they are really connected to a greater goal." - Dan French

👉Connect with Dan French

👉 Connect with Tim

Subscribe, Rate, and leave a review here 🌟
https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497

Next Episode

undefined - Submetering Secrets: How To Maximize Multifamily Profits With Kelly Koontz, Ep 106

Submetering Secrets: How To Maximize Multifamily Profits With Kelly Koontz, Ep 106

Welcome to the Journey to Multifamily Millions podcast, where we discuss money matters with experts!

In this episode, we have the pleasure of speaking with Kelly Koontz, President of Submeter Solutions, Inc., based in Kent, WA. Submeter Solutions specializes in selling, servicing, and installing utility meters and submetering systems both locally and nationally.

Kelly shares his incredible journey from the aerospace industry to co-founding a successful submetering business. He delves into the benefits and pitfalls of different utility billing methods, including RUBS (Ratio Utility Billing Systems) and submetering. Kelly highlights the importance of fair billing practices and potential cost savings for multifamily property owners.

Kelly also provides valuable insights into how submeters help in monitoring usage, identifying leaks, and improving water conservation efforts. Tune in to learn essential strategies for managing utility costs effectively in multifamily properties!

Episode Topics

[01:21] Meet our guest, Kelly Koontz
[01:56] Kelly's Background and Career Journey
[06:21] The Evolution of SubMeter Solutions
[08:05] Opportunities for Multifamily Owners
[12:08] Cost-Benefit Analysis of Submetering
[21:57] Common Mistakes in Utility Management
[24:50] What is one red flag every investor should look out for?
[25:30] What is a myth about the real estate business?
[28:22] Connecting with Kelly

Notable Quotes

  • "Cutting your salary literally more in half and joining your buddy who you've known forever, but have never worked with before, was a big risk." - Kelly Koontz
  • "The real power of submetering... when you pay for something that you're using, you tend to use less and you take more care of it." - Kelly Koontz
  • "The business itself has changed, grown over time starting from those meters online to what it is now." - Tim Little
  • "It's one thing to spend an extra couple of dollars because of a toilet and you have to jiggle the handle, that whole thing." - Tim Little
  • "I would tell you that the very single biggest influence to lowering the overall bill is having the residents directly pay for it." - Kelly Koontz
  • "If you can push that cost fairly onto the tenants, there are those common areas where things like electricity for lighting need to be considered." - Tim Little

👉Connect with Kelly Koontz

👉 Connect with Tim

Subscribe, Rate, and leave a review here 🌟
https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497

Journey to Multifamily Millions - Fast-Track Your Real Estate Success with Expert Coaching with William Parmer, Ep 105

Transcript

[00:00:00] William Parmer: When I went from law enforcement, I decided I wasn't going to live off of my real estate income. So I didn't want to touch it. I wanted it to go right back in the business to be able to purchase more. and I still don't live off of it now. it just goes right back in the business and we buy more real estate as soon as a deal arrives. And, we, we, Whenever we're looking for somebody, produce something that's very interesting and looks like it would be a good buy.

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