Multifamily Missteps Hosted by Christy Keeton

I had the pleasure of speaking with the Director of Multifamily Education & Executive Partner at Active Duty Passive Incom, Tim Kelly.

Let’s jump into Tim’s story of the recipe to success that you could apply to any facet of life.

Things you will learn in this episode:

[00:01 - 06:27] Opening Segment

• Tim talks about his background and his real estate journey
  • Free Coach Session with Tim. Call +1 847-910-9161
• Tim mentions Robert Kiyosaki, Tom Wheelwright, Grant Cardone
• Tim talks about he discovered multifamily

[06:28 - 18:12] How To Raise A Capital

• Tim talks about his approach to raising money and getting deals done
• Tim shares his struggles in raising capital
• Tim shares an interesting story on how he scales up the investor flow

[18:13 - 30:57] Finding Success in Real Estate Through Linkedin and Paid Coaching

• Tim gives tips on how LinkedIn can be used to network your business
• Tim gives valuable advice on finding success in the real estate business
  • Invest in paid coaching
• Tim gives powerful words of wisdom about the recipe to success
  • Learn, Network, Add Value and Take Action

Tweetable Quotes:

“If you're not willing to invest in yourself, I don't think you deserve to succeed in business” -Tim Kelly

“Your income is a direct result of how you grow as a person” -Tim Kelly

You can connect with Tim on Instagram, LinkedIn, Facebook, and Youtube. Or visit his personal website thetimothykelly.com

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211)

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.

Today’s guest is a man who hardly needs an introduction if you’ve spent time in the multifamily space. I have with me, Yonah Weiss, business director for Madison Specs, and the host of the Weiss Advice Podcast. Yonah is an expert in saving millions in taxes for property owners using his method of Cost Segregation. Tune in a learn how Yonah helped a client save millions in taxes after first watching him pay too much.

Things you will learn in this episode:

[00:01 – 3:42] Opening Segment

• Yonah talks about his background
  • Education and teach then moved into real estate
  • Began with Madison working with cost-segregation

[03:43 – 09:39] Yonah’s Missteps Story

• Yonah breaks down cost segregation and how it affects people differently
• Yonah’s story of working with a top real estate broker who paid too much in taxes
  • Ignorant to the tools that can save you millions in taxes
  • Did not amend previous tax returns

[09:40 - 14:49] Yonah’s Methods

• The downsides to a cost seg study and ways around them
• The power and importance of using cost seg study correctly
• Do your due diligence when hiring a company to do your study

[14:50 – 20:29] Closing Segment

• The questions you need to ask when looking to hire a cost seg company
• What happens when you have audit protection
• Yonah’s words of wisdom - always ask questions
• Final words

Resources Mentioned:

• Weiss Advice Podcast
• Madison Specs

Tweetable Quotes:

“All taxpayers are not equal. If you’re a real estate professional, you actually have the highest benefit of any certain type of taxpayer that’s out there. ” – Yonah Weiss

“Foundation is everything, if you don’t have a good foundation then the whole building will fall down.” - Yonah Weiss

Connect with Yonah on LinkedIn. Visit https://www.yonahweiss.com/ to learn more.

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.

If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.

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 multifamily
• Good lessons from small multifamily investing - knowing the location very well

[04:24 - 08:14] Why You Should Opt for a Walkthrough At Night

• Why you should go back at night instead of only a day tour
• When there are more unpleasant outdoor activities at night
• The hard lesson of choosing your tenants

[08:15 - 11:39] Do Your Research and Get Involved

• Getting more information when you don’t know who’s paying
• Self-management due to smaller margins
• Applying the value of reconnaissance to multifamily

[11:40 - 15:28] Closing Segment

• Having multiple plans is key
• Final words

Tweetable 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 Moore

Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3

Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB

Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.

David Pere is an active-duty Marine who devotes his free time to teaching service members and veterans how to build wealth through real estate investing, entrepreneurship, and personal finance. In this episode, David shares some of his experiences and issues that he faced on his investment deals so we can all learn from it.

Let’s jump into David’s story and get expert advice to avoid any potential issue from a real

estate pro!

Things you will learn in this episode:

[00:01 - 03:24] Opening Segment

• David talks about his journey in the investment

[03:25 - 15:29] Trust But Verify

• David talks about one of his deal and a contractor
  • Faced some unforeseen issue with the contractor and the building
  • Fix the house, sold it, and got half of his money
  • Lost about $30.000
• What could we do to avoid this kind of issue
  • Get a property manager to check the details in the property before giving any checks
  • Change the billing structure to ensure what your contractor is doing and stays on schedule
  • Increase the oversight on contractors and stricter contracts
• If you are interested in getting into multifamily or scaling your current business;
  • hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!
• Issues may come up, but you just have to adjust your system and keep pushing

[15:30 - 27:59] Have Everything in Writing

• David shares the story about one of his deal that had an issue with the property manager in 2018
  • 40 Units mix-use building in Southwest Missouri for $3million
• Faced some weird issue by the second month of ownership
  • He was losing two or $3,000 a month since
  • Got the contract breached by the contractor and previous owner
• Put legal action proceeding for 14 months and scheduled on July for the jury court case on this deal
• David shares the lessons he got from this
  • Always have his trusted property manager and have her to do the due diligent with him
  • Have everything in writing, not just over the phone
  • Be more decisive

[28:00 - 31:00] Closing Segment

• What are your words of wisdom to our listeners?
  • Trust but verify
  • “If you say that you are going to do something, you have to do it.”
  • Always learn, network, and take action
• How to get in touch with David
  • See links below
• Final words from me

Tweetable Quotes:

“Issues may come up, but you just have to adjust your system and keep pushing.” - David Pere.

“Trust but verify, always have everything in writing, and be more decisive. ” - David Pere.

“If you say that you are going to do something, you have to do it.” - David Pere.

You can connect with David on LinkedIn, Instagram, and Facebook. Check his website at www.frommilitarytomillionaire.com.

LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.

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 conversations
• Who should be your target market?
• Mastering the underwriting process

[11:29 - 20:35] Building a Multifamily Brand

• Building your brand as a real estate investor
• The question to ask to start building your brand
• The 2 reasons people take action, real estate or not

[20:36 - 26:26] Closing Segment

• The importance of sales copy in your real estate investing
• Find Oliver at the links below
• Final words

Tweetable 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 Myers

You can connect with Oliver by emailing [email protected] 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/37u6oK3

Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB

Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC

Support the show

Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.